Trane Technologies (TT) PT Raised to $366 at Citi

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Go back to Trane Technologies (TT) PT Raised to $366 at Citi

Trane Technologies Reports Strong First Quarter Results and Raises 2024 Revenue and EPS Guidance

April 30, 2024 6:30 AM EDT

Highlights (first-quarter 2024 versus first-quarter 2023, unless otherwise noted):

Reported revenues of $4.2 billion, up 15 percent; organic revenues* up 14 percent GAAP operating margin up 250 bps; adjusted operating margin* up 230 bps Adjusted EBITDA margin* of 16.8 percent, up 200 bps GAAP continuing EPS of $1.92; adjusted continuing EPS* of $1.94, up 38 percent Organic bookings* up 17 percent, led by Americas Commercial HVAC, up 30 percent $7.7 billion backlog, up 10 percent versus year-end 2023, and over 2.5 times historical norms

*This news release contains non-GAAP financial measures. Definitions of the non-GAAP financial... More