Q3 2024 Trane Technologies PLC Earnings Call Transcript
Key Points
- Trane Technologies PLC (TT) reported strong financial performance in Q3 2024, with 11% organic revenue growth and a 21% increase in adjusted EPS.
- The company's backlog remains robust at $7.2 billion, indicating strong future demand.
- The Americas commercial HVAC business showed exceptional performance, with revenue growth up nearly 20% in the quarter.
- Trane Technologies PLC (TT) raised its full-year organic revenue and adjusted EPS guidance, reflecting confidence in continued strong performance.
- The service business, which constitutes a third of the company, continues to grow at a high single-digit rate, contributing to overall resilience and profitability.
- The Asia Pacific segment, particularly China, faced challenges with a significant revenue decline due to market conditions and tightened credit policies.
- The transport business in the Americas experienced a decline in revenues, consistent with market expectations.
- Despite strong performance, the company anticipates continued lumpiness in order timing and bookings.
- The company is facing inflationary pressures, which it aims to offset through productivity and price realization.
- There is uncertainty regarding the impact of refrigerant transitions on the residential HVAC market, with potential implications for inventory and pricing strategies.
Good morning. Welcome to the Trane Technologies Q3 2024 earnings conference call. My name is Julianne, and I will be your operator for the call. (Operator Instructions)
I will now turn the call over to Zac Nagle, Vice President of Investor Relations.
Thanks, operator. Good morning and thank you for joining us for Trane Technologies' third-quarter 2024 earnings conference call. This call is being webcast on our website at tranetechnologies.com where you'll find the accompanying presentation. We are also recording and archiving this call on our website.
Please go to slide 2. Statements made in today's call that are not historical facts are considered forward-looking statements and are made pursuant to the Safe Harbor provisions of federal securities law. Please see our SEC filings for a description of some of the factors that may cause our actual results to differ materially from anticipated results.
This presentation also includes non-GAAP measures, which
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
