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 (TT) delivers innovative climate solutions through its HVAC systems and transport refrigeration technologies. This news hub provides investors and industry professionals with essential updates on corporate developments, financial performance, and sustainability initiatives.
Access real-time announcements including earnings reports, product innovations, and strategic partnerships. Our curated collection ensures you stay informed about regulatory developments and market trends impacting the HVAC and refrigeration sectors.
Key updates cover operational milestones, environmental initiatives, and leadership changes. Bookmark this page for streamlined access to Trane Technologies' official communications and third-party analyses of its market position.
Trane Technologies (NYSE: TT) unveiled its zero-emission trailer refrigeration system at the Solutrans trade show in Lyon, France. The AxlePower technology integrates an electric refrigeration unit and efficient battery storage, ensuring optimal cargo temperature sustainably. This innovation meets the growing demand for safe food and medicine transport while reducing energy costs and emissions. The system is compatible with various power sources and currently in testing. Trane commits over $100 million to develop fully electric cold chain solutions by 2023 for EMEA and by 2025 for the Americas.
Trane Technologies reported third-quarter 2021 results highlighting bookings of $4.3 billion, a 22% increase year-over-year, and revenues of $3.7 billion, up 6%. GAAP continuing EPS rose to $1.73, with adjusted continuing EPS at $1.80, reflecting a 5% growth. Despite strong demand and record backlog of $5 billion, GAAP operating margin declined by 50 bps due to inflation. Cash flow from operating activities reached $1.2 billion. The company maintains a strong outlook, reaffirming its 2021 guidance with anticipated revenue growth of approximately 13.5%.
Service Fusion, part of EverCommerce (NASDAQ: EVCM), has announced a new integration with Trane and American Standard, leading providers of indoor comfort solutions. This first phase allows HVAC contractors to efficiently manage leads and jobs through the platform, reducing manual entry processes. The integration aims to streamline workflow and enhance customer experience by simplifying business operations. Further phases are expected in 2022, focusing on product catalogs and inventory management.
Trane Technologies (NYSE: TT) has successfully acquired Farrar Scientific, a key player in ultra-low temperature solutions for biopharmaceuticals. This strategic acquisition, announced on September 13, 2021, enhances Trane's capabilities in providing flexible and efficient temperature control solutions critical for the life sciences sector. Holly Paeper has been appointed to lead the new Life Science Solutions business within Trane's Commercial HVAC unit, aiming to deliver greater value in cold chain management and sustainability.
Trane Technologies (NYSE: TT) enhances indoor air quality management by integrating IAQ monitoring with its Trane Home app through Awair Element. This initiative addresses growing concerns about indoor air quality exacerbated by the COVID-19 pandemic. Homeowners can monitor air quality factors and control their HVAC systems, ensuring optimal conditions for health and comfort. The collaboration aims to provide efficient and sustainable climate solutions and fortify the company’s commitment to improving indoor environments.
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