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Trane Technologies plc reports developments tied to climate-control products and services for buildings, homes and transportation. The company operates through strategic brands including Trane and Thermo King, with recurring updates on commercial and residential HVAC systems, building controls and solutions, energy services, transport refrigeration, and regional activity in the Americas and Asia Pacific.
Company news commonly covers quarterly results, bookings and backlog trends, guidance, dividend declarations, investor conference presentations, technician training programs, and product or technology progress in energy-efficient HVAC. Updates also include participation in government and industry initiatives involving commercial rooftop units, cold-climate performance and building-system efficiency.
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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.
Trane Technologies (NYSE: TT) announced its leadership will participate in a fireside chat at the Goldman Sachs Industrials & Materials Conference on Wednesday, May 11, 2022, at 11:20 a.m. ET. The event will discuss the company’s role as a global climate innovator, focusing on sustainable climate solutions.
A live webcast of the chat will be available on the Trane Technologies website in the investor relations section, with an archive accessible for 30 days post-event.
Trane Technologies (NYSE: TT) partners with Neiman Marcus Group to advance sustainability initiatives, including renewable energy use and energy efficiency measures. Neiman Marcus aims to cut Scope 1 and 2 emissions by 50% by 2025 and achieve 100% renewable energy by 2030. Their collaboration emphasizes significant climate commitments and upgrades at multiple stores, starting with an innovative HVAC installation at Bergdorf Goodman in New York City. This project will help New York City meet its goal of net-zero emissions by 2050 while enhancing customer comfort.
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Trane Technologies (NYSE: TT) has been named Green Builder Media's 2022 HVAC Brand Leader, recognized for its sustainable residential solutions. This accolade highlights Trane's commitment to efficiency and indoor comfort, surpassing competitors in the annual brand index based on consumer sentiment and purchase preferences. The company aims to reduce carbon emissions by one gigaton by 2030 through innovative designs and high-efficiency systems. The ranking reinforces Trane's dedication to enhancing indoor air quality and contributing to sustainability goals.
The Board of Directors of Trane Technologies (NYSE:TT) declared a quarterly dividend of $0.67 per ordinary share, amounting to $2.68 annualized. The dividend will be payable on June 30, 2022, to shareholders on record as of June 3, 2022. Trane Technologies has a long history of dividend payments, having distributed consecutive quarterly cash dividends since 1919 and annual dividends since 1910.
Trane Technologies (NYSE:TT) will host a conference call on May 4, 2022, at 10 a.m. ET to discuss its first quarter 2022 financial results. The earnings release and presentation will be available prior to the call on the company's website, enhancing transparency for investors. A live webcast will allow real-time access to the discussion, with a replay available post-event at 1 p.m. ET the same day. Trane Technologies is recognized as a global climate innovator through its strategic brands and sustainable solutions for buildings and transportation.
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Trane Technologies (NYSE: TT) will engage in a fireside chat at the Bank of America Global Industrials Conference on March 15, 2022, at 10:35 a.m. GMT (6:35 a.m. ET). This event will be streamed live on the company's website, with an archive available for 30 days post-event. As a global climate innovator, Trane Technologies focuses on delivering sustainable climate solutions through its brands Trane® and Thermo King®. For more information, visit tranetechnologies.com.