Trane Technologies Plc Stock Price, News & Analysis

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.

Trane Technologies held its 2022 Annual General Meeting in Ireland, where shareholders approved six key proposals. All 11 board nominees were re-elected, and approximately 92% supported executive compensation. The appointment of PricewaterhouseCoopers as independent auditors was approved by 91% of votes. Shareholder authorities to issue new shares and treasury shares were renewed with favor rates of 97% and 99%, respectively. A quarterly dividend of $0.67 was declared, payable on September 30, 2022, marking a commitment to shareholder returns since 1919.

Trane Technologies (NYSE:TT) announces the completion of the State Buildings Green Energy Project in New Mexico, the state's largest renewable energy initiative. This project targets over 30 aging buildings in Santa Fe, achieving a projected annual savings of $1.1 million for taxpayers. It is expected to eliminate 7,400 metric tons of carbon emissions and conserve 5.1 million gallons of water. Funded by future energy savings, the initiative also enhances energy efficiency with modern HVAC systems and solar panels, aligning with New Mexico's sustainability goals.

Trane Technologies (NYSE: TT) will participate in a virtual fireside chat at the Wolfe Transportation & Industrials Conference on May 25, 2022 at 11:30 a.m. ET. The event will be streamed live on their website, with an archive available for 30 days post-event. Trane Technologies is recognized as a global climate innovator, offering sustainable climate solutions through brands like Trane® and Thermo King®. For more information, visit tranetechnologies.com.

Trane Technologies (NYSE: TT) and Discovery Education have partnered to launch a multimedia STEM education program for grades 5-10, focusing on sustainability challenges like climate change and food waste. The initiative aims to engage diverse demographics, especially underserved communities, by providing interactive tools and resources. Trane commits $100 million and 500,000 volunteer hours by 2030 to enhance STEM access. The program features a virtual field trip and connects students with STEM professionals to inspire future careers in sustainability.

Trane Technologies (NYSE:TT) reported strong first-quarter 2022 results, with bookings of $4.3 billion, up 5% year-over-year, and revenues reaching $3.4 billion, an increase of 11%. GAAP EPS from continuing operations was $1.13, and adjusted EPS was $1.12, both reflecting an 11% year-on-year growth. A record backlog of $6.2 billion, a 56% increase year-over-year, positions the company for continued success. Despite challenges like material inflation and supply chain issues impacting margins, Trane remains optimistic about 2022 performance.