Trane Technologies Plc Stock Price, News & Analysis

Trane Technologies (NYSE: TT) will participate in a fireside chat at the Morgan Stanley Laguna Conference on September 14, 2022, at 10:30 a.m. PT. The event will be accessible via live webcast on the company's website, with an archive available for 30 days post-event. Trane Technologies focuses on providing sustainable climate solutions through its brands Trane® and Thermo King®.

Trane Technologies has appointed Dwayne Cowan as the new president of Thermo King for Europe, Middle East, and Africa (EMEA) and Global Marine, Air and Rail, effective August 1. Cowan, who has a proven track record in the Thermo King business, aims to enhance the company’s sustainable refrigerated transport solutions. He succeeds Francesco Incalza, who transitions to a role in the U.S. as vice president of Audit Services. Cowan's extensive experience and leadership are expected to drive growth and innovation in the company’s EMEA operations.

Trane Technologies (TT) reported strong financial results for Q2 2022, with bookings reaching $4.6 billion, a 6% increase year-over-year. Revenues rose by 9% to $4.2 billion, and both GAAP and adjusted continuing EPS saw a rise of 13%, reaching $2.17 and $2.16 respectively. The company's backlog hit a record $6.5 billion, up 43%. Despite challenges from supply chain issues, Trane raised its full-year guidance for revenue and EPS, indicating strong demand for its sustainability-focused solutions.

Trane Technologies (NYSE:TT) announced it will host a conference call on August 3, 2022, at 10 a.m. ET to discuss its second quarter financial results. The earnings release and presentation will be available before the call on its website. A live webcast will allow real-time access, with a replay provided later the same day at approximately 1 p.m. ET.

Trane Technologies is known for its climate-friendly solutions, primarily through brands like Trane® and Thermo King®.

Trane Technologies' CEO, Dave Regnery, highlighted the importance of bipartisan efforts for effective climate legislation following the recent Supreme Court ruling on climate in West Virginia v. EPA. He emphasized the urgency of addressing climate change and the need for collaboration among industry, government, NGOs, and citizens to scale and adopt existing climate solutions. Trane Technologies aims to shape sound climate policies in partnership with lawmakers and the White House, reinforcing its commitment to sustainable innovations through its strategic brands and products.

Trane Technologies (NYSE: TT) is launching its Trade Warriors program at Fort Bragg, NC, designed to equip military service members with skills for HVAC careers. The 8-week hands-on training targets the skilled labor shortage, projected at 122,000 technicians in the HVAC sector. Since its inception in late 2021, the program has trained three cohorts with 20 job placements. Currently, 15 students are in the fourth cohort, and there are plans for expansion. Graduates leave with Trane Certified Technician status and assistance in job placement through prequalified dealers.

Trane Technologies (NYSE: TT) has inaugurated a new research and development (R&D) center in Galway, Ireland, enhancing its commitment to all-electric solutions in the cold chain. This facility can accommodate up to 70 engineers and is part of a significant investment exceeding $100 million aimed at delivering fully electric products in Europe, the Middle East, and Africa by 2023, and in the Americas by 2025. The center will support the company’s sustainability goals, including its Gigaton Challenge.

Trane Technologies (NYSE:TT) has been re-certified as a Great Place to Work for the second consecutive year, highlighting its commitment to an exceptional employee experience. This recognition is based on employee feedback, reflecting the company's emphasis on creating a supportive work environment. Job seekers are encouraged by research indicating they are 4.5 times more likely to find a great boss in certified workplaces. Trane continues to seek passionate individuals to join its team, reinforcing its dedication to innovation and sustainability.

Trane Technologies (NYSE:TT) has announced a grant of $280,000 to the Science Museum of Minnesota to support the Kitty Andersen Youth Science Center (KAYSC) STEM Freedom School program. This funding will enhance STEM education for underrepresented demographics in the Twin Cities. Trane aims to donate $100 million by 2030 to promote equitable STEM learning and has committed to providing 500,000 employee volunteer hours for its Sustainable Futures strategy.