Trane Technologies (TT) Tops Q1 EPS by 7c; Lifts Outlook
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Trane Technologies Reports Strong First-Quarter 2023 Results; Raises 2023 Guidance
May 3, 2023 6:30 AM EDTHighlights (first-quarter 2023 versus first-quarter 2022, unless otherwise noted):
Reported revenues of $3.7 billion, up 9 percent; organic revenues* up 9 percent GAAP operating margin up 90 bps; adjusted operating margin* up 140 bps GAAP continuing EPS of $1.35; adjusted continuing EPS* of $1.41, up 26 percent Reported bookings of $4.3 billion, down 1 percent; organic bookings* down 1 percent Strong first-quarter book-to-bill ratio of 117 percent Record backlog of $7.3 billion, up $400 million from year-end 2022*This news release contains non-GAAP financial measures. Definitions of the non-GAAP financial measures can be found in the footnotes... More
