Trane Technologies Plc Stock Price, News & Analysis

Trane Technologies (NYSE:TT) reported strong second-quarter 2024 results, with reported revenues up 13% to $5.3 billion. The company saw significant improvements across key metrics:

- GAAP operating margin up 70 bps
- Adjusted operating margin up 140 bps
- Adjusted EBITDA margin of 21.1%, up 140 bps
- GAAP continuing EPS of $3.33
- Adjusted continuing EPS of $3.30, up 23%
- Bookings up 19%, led by Americas Commercial HVAC

Given the strong performance, Trane Technologies has raised its full-year 2024 revenue and EPS guidance. The company now expects full-year reported and organic revenue growth of approximately 10% and GAAP and adjusted continuing EPS of approximately $10.80.

Healthy Spaces Podcast: Season 4, Episode 3 - Climate Talent

Trane Technologies discusses innovative workforce development with Opportunity@Work's Byron Auguste and Trane Technologies' VP of Talent Betsey Strobl. Nearly 70 million Americans lack college degrees while industries face growing talent shortages. This episode explores skills-based hiring to bridge this gap. The tear the paper ceiling campaign emphasizes skills over traditional qualifications, aiming to diversify the talent pool and promote workforce innovation. Topics include hiring more women in advanced manufacturing and leveraging alternative routes for skill acquisition. Listen to the full episode on major podcast platforms like Apple Podcasts, Spotify, and YouTube.

Trane Technologies' latest episode of the Healthy Spaces Podcast, titled 'Nitty-Gritty on Net-Zero,' brings together climate leader Avipsa Mahapatra and host Scott Tew to discuss the complexities of achieving a net-zero economy. Avipsa has been focusing on global decarbonization, especially tackling super pollutants like HFCs. The episode highlights the importance of transparency, data, and ambitious commitments from companies to make significant strides toward sustainability. Key topics include the impact of heating and cooling systems on global emissions, the role of refrigerants, and the importance of public accountability and measurable goals. The conversation is framed by the 'Nitty-Gritty on Net-Zero Roadmaps' discussion from South by Southwest 2024, providing listeners with actionable insights and industry context. The podcast encourages organizations to share their stories and learn from each other’s experiences in building sustainable practices. For more details, listen to the full episode on popular platforms such as Apple Podcasts, Spotify, YouTube, and Amazon Music.

Trane Technologies (NYSE: TT) has announced a conference call to discuss its Q2 2024 financial results. The call will take place on July 31, 2024, at 10 a.m. ET. The company's earnings release and presentation will be available on their website prior to the call. The live webcast can be accessed through Trane Technologies' investor relations section. A replay will be available on the website starting at 1 p.m. ET the same day.

Trane Technologies provided sustainable and efficient indoor climate solutions for the 19th Asian Games held in Hangzhou, China. The company delivered high-efficiency centrifugal chillers and air-cooled screw heat pump units for key venues including the Olympic Sports Center Stadium, the Natatorium, and the Comprehensive Training Facility. Trane's solutions helped the event achieve its goal of being the most sustainable in its 110-year history, aiming for a carbon-neutral status. The company's technologies ensured optimal air quality and comfort for athletes and spectators, while also meeting stringent green building standards. Trane's involvement in this project is part of its broader commitment to sustainable innovation.

Trane Technologies has announced a partnership with the ROC, a nonprofit in Charlotte, NC, to support workforce development in the HVAC industry. The collaboration includes providing training equipment, HVAC technician training, and internship placements for high school students. The ROC works with local schools and colleges to offer job-readiness training and hands-on internships to underrepresented students.

This initiative is part of Trane’s broader commitment to building a diverse, future-ready workforce. By investing in these young individuals from marginalized communities, the company aims to create opportunities that align with industry needs. The partnership highlights Trane’s strategy of using its resources to support educational and career pathways, ultimately benefiting both the community and the company’s future talent pool.

The ROC’s programs have shown that early engagement with students results in a high retention rate, with 70% of participants likely to stay with the supporting company. Trane's investment in workforce development is seen as both a community-building effort and a strategic move to ensure a skilled workforce for the future.

Interior designer Leanne Ford modernized her historic Pittsburgh home with a comprehensive HVAC solution from Trane, focusing on efficiency, sustainability, and indoor air quality. The project involved replacing a faulty radiant heat system with Trane's advanced technologies, including the XR14 60000 BTU Single Stage Heat Pump, CleanEffects Whole House Air Cleaner, and the XV20i Heat Pump. These upgrades reduced the home's carbon footprint and improved air quality significantly, benefiting family members with allergies. The installation also enhanced the home's comfort with a variable speed system and Trane's ComfortLink II XL1050 thermostat, which allows real-time temperature and humidity control. Ford expressed satisfaction with the results, highlighting the improved comfort and health benefits for her family.

Trane Technologies (NYSE: TT), a global climate innovator, has been named one of the World's Most Sustainable Companies by TIME in collaboration with Statista. This recognition highlights Trane Technologies' commitment to sustainability, corporate responsibility, and social stewardship. Paul Camuti, the company’s EVP and Chief Technology and Sustainability Officer, emphasized that sustainability is central to their strategy.

The company is focused on decarbonizing buildings, industry, and the cold chain, while advancing its 2030 Sustainability Commitments, including the Gigaton Challenge and a pledge to be net-zero by 2050. Trane Technologies' emissions targets are validated by the Science Based Targets Initiative (SBTi).

The company received an 'A' score from CDP for climate transparency, was named to the S&P Dow Jones Sustainability World Index for the third consecutive year, and the North America Index for the thirteenth year. Trane Technologies also achieved gender parity on its Board of Directors and donated $18.8 million to support underrepresented communities.

Trane Technologies (NYSE: TT), a global climate innovator, has garnered accolades for its uplifting and empowering workplace culture. The company was named one of the Best Companies to Work For by U.S. News & World Report and received the Great Place to Work Certification in the U.S. for the fourth consecutive year. Additionally, it was included in the Top 100 of India’s Best Companies to Work for 2024. The recognition highlights Trane Technologies' inclusive environment and dedication to employee well-being, as emphasized by Mairéad Magner, Senior VP and Chief HR Officer. The company has also made the Fortune’s World’s Most Admired Companies list for 12 years and the JUST 100 for three years. Recently, it was named to the 2024 World’s Most Ethical Companies by Ethisphere. Trane Technologies continues to enhance employee benefits, including financial support for adoption and surrogacy, tax-free childcare savings programs, and tuition advancement to ease the financial burden of learning opportunities. The company seeks passionate individuals committed to its sustainable mission.