Welcome to our dedicated page for Trane Technologies Plc news (Ticker: TT), a resource for investors and traders seeking the latest updates and insights on Trane Technologies Plc stock.
Trane Technologies plc (NYSE: TT) is frequently described in its public communications as a global climate innovator, and its news flow reflects that positioning. Company announcements highlight activities across heating, cooling and ventilation systems, transport refrigeration, sustainability initiatives, and advanced digital and AI-enabled climate solutions for buildings, homes and transportation.
Visitors to this news page can review press releases and updates where Trane Technologies discusses quarterly financial results, capital deployment and segment performance across its Americas, EMEA and Asia Pacific segments. These updates often describe trends in commercial HVAC, residential heating and cooling, and transport refrigeration systems and solutions, as well as bookings, revenues and margins.
News items also cover Trane Technologies’ sustainability and circularity efforts. The company has announced circularity impact metrics tied to generating revenue from circular products and services and increasing the use of circular materials, and it links these metrics to broader 2030 Sustainability Commitments, a pledge to reduce customer greenhouse gas emissions by one gigaton, and a pledge to be net-zero by 2050.
Another recurring theme in Trane Technologies’ news is its role in data center thermal management and digital innovation. Recent releases describe an agreement to acquire the Stellar Energy Digital business, a provider of turnkey liquid-to-chip data center cooling solutions, and the launch of a thermal management system reference design for NVIDIA Omniverse DSX Blueprint for gigawatt-scale AI data centers. The company has also reported on projects using BrainBox AI technology, acquired by Trane Technologies, to optimize HVAC systems and reduce energy use and emissions in collaboration with Amazon and AWS.
By following the TT news feed, readers can track how Trane Technologies communicates its financial performance, strategic acquisitions, climate and circularity initiatives, and partnerships in areas such as AI-enabled building optimization and data center cooling.
Trane Technologies (NYSE:TT) has been recognized on the Climate Disclosure Project's (CDP) annual 'A List' for its environmental transparency, ranking among only 283 of over 15,000 companies assessed. This accolade reflects the company's comprehensive disclosure practices, environmental risk awareness, and leadership in sustainability. Trane's commitment to decarbonization includes ambitious 2030 Sustainability Commitments and a 2050 Net-Zero carbon target, validated by the Science Based Targets Initiative. CEO Paul Camuti emphasized the importance of bold thinking in tackling climate challenges.
Trane Technologies (NYSE:TT) has been recognized by the Climate Disclosure Project (CDP) for its corporate environmental transparency, making the prestigious ‘A List’ alongside 283 other companies. This recognition comes after over 15,000 companies were evaluated on their environmental practices. Trane's achievements include exceeding its initial climate commitments set in 2014, and its ongoing initiatives like the 2030 Sustainability Commitments and the 2050 Net-Zero carbon target. The company demonstrates significant leadership in decarbonization across various sectors.
Trane Technologies plc (NYSE: TT) will participate in a fireside chat at the Credit Suisse Industrials Conference on December 2, 2022, at 11:00 a.m. EST. The event will be available via live webcast on the Trane Technologies website, with an archive accessible for 30 days post-event. Trane Technologies, recognized as a global climate innovator, provides sustainable climate solutions through its brands, Trane® and Thermo King®.
Trane Technologies (NYSE: TT) is partnering with Nucor Corporation (NYSE: NUE) and U.S. Steel (NYSE: X) to purchase low-carbon steel for its HVAC solutions. This move aims to significantly reduce carbon emissions, with an annual reduction expectation of nearly 16,000 metric tons, equivalent to powering over 55,000 homes for a year. The steel purchased represents 20% of Trane's annual steel needs, and is 80% less carbon intensive than traditional steel. Trane aims for 50% net-zero steel procurement by 2030 and 100% by 2050.
Trane Technologies (NYSE: TT) has successfully completed laboratory testing and is set to begin field trials for its high-efficiency cold climate heat pump. This product surpassed U.S. Department of Energy (DOE) standards by performing at temperatures as low as -23°F, exceeding the DOE's requirement of -20°F. Jason Bingham, president of Residential HVAC, emphasized the company's commitment to sustainability and innovation. The heat pump is designed to assist homeowners in utilizing clean energy tax credits available through the Inflation Reduction Act.
Trane Technologies (TT) reported strong financial results for Q3 2022, with bookings of $4.5 billion (up 6%) and revenues of $4.4 billion (up 18%). Adjusted continuing EPS rose 26% to $2.27. The GAAP operating margin improved to 16.9%, while the company boasts a robust backlog of $6.4 billion (up 28%). Despite challenges like inflation and supply chain issues, the company anticipates a 11-12% revenue growth and a continuing EPS of $7.24-$7.29 for the full year.
Road Ready has partnered with Thermo King, integrating its cold chain technology within the LogIQ smart partner network. This alliance allows Road Ready to enhance fleet management, catering to the growing demand for refrigerated transport, which is projected to surge at a CAGR of over 14% by 2030. Through this integration, users will gain access to real-time cold chain asset monitoring and two-way remote temperature control. The LogIQ network now includes 11 partners, aiming to streamline data management for fleets.
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