Trane Technologies Plc Stock Price, News & Analysis

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Trane Technologies (TT) reported impressive financial results for Q4 2021, highlighting record bookings of $4.1 billion, a 28% increase, with total revenues reaching $3.6 billion, up 12%. Adjusted EPS rose 32% to $1.36. The full-year 2021 results also showed record bookings of $16.8 billion and revenues of $14.1 billion. The company’s GAAP operating margin improved by 200 basis points, with a significant backlog of $5.4 billion for future growth. The outlook for 2022 remains strong with projected adjusted EPS growth of 14% to 17%.

Trane Technologies has been recognized as one of America’s Most JUST Companies for the fifth consecutive year, ranking second in the building materials and packaging sector. The company climbed 67 spots from the previous year, highlighting its commitment to employees, community, and environmental sustainability. It also received high marks from the CDP Global Climate Change Report, demonstrating strong management in carbon reduction efforts. Trane's 2030 Sustainability Commitments aim to cut customer emissions by a billion metric tons and achieve gender parity in leadership.

Trane Technologies (NYSE: TT) has announced a significant industry shift by making lower global warming potential (GWP) refrigerants standard in their truck and trailer units. This transition is expected to avoid approximately 650,000 metric tons of CO2e emissions annually, equivalent to the emissions of 143,000 passenger vehicles. The new refrigerants will be included in Thermo King's Precedent® trailer portfolio starting January 2022, with truck products following mid-2022. This change positions the company ahead of upcoming regulations by the California Air Resources Board.

Trane Technologies (NYSE: TT) announces the retirement of Marcia Avedon, EVP and Chief Human Resources, Marketing and Communications Officer, in April 2022 after 15 years. Mairéad Magner is appointed Senior VP and Chief Human Resources Officer, while Carrie Amendum Ruddy is named Senior VP and Chief Communications and Marketing Officer. Both will report to CEO Dave Regnery and contribute to the company's Enterprise Leadership Team. Avedon has significantly impacted the company’s culture and HR strategy through her leadership during substantial organizational changes.

Trane Technologies plc (NYSE:TT) will host a conference call to discuss its fourth quarter 2021 financial results on January 31, 2022, at 10 a.m. ET. The earnings release and presentation will be available beforehand on the company's website. A live webcast of the call can be accessed online, with a replay available later that day. Trane Technologies is recognized as a global climate innovator, providing sustainable climate solutions through its brands Trane® and Thermo King®.

Griffon Corporation (NYSE: GFF) has filed its preliminary proxy statement with the SEC ahead of its Annual Shareholder Meeting on February 17, 2022. The proxy includes six items for consideration, notably the nomination of four new directors aiming for enhanced corporate governance reflecting diversity and industry expertise. Michelle Taylor, nominated for her proficiency in manufacturing, will join a board where 29% will be women and persons of color post-election. Current director William Waldorf will retire. The company plans to implement a declassification of the board and reduce voting power required to call special meetings.

Trane Technologies (NYSE: TT) has launched new digital indoor environmental quality (IEQ) management solutions, aimed at helping building owners and facility managers improve indoor space health and efficiency. The offering integrates exclusive Indoor Air Quality Assessment services with remote monitoring and controls to enhance air quality and HVAC operations. With growing concerns over indoor air quality as businesses reopen, these solutions aim to provide real-time insights and optimize energy usage, aligning with sustainability goals and certification requirements.

Oilon, a Finnish energy technology company, has signed a collaboration agreement with Trane (NYSE: TT) to offer Trane Exergy Series heat pumps in Europe. These heat pumps provide heating capacities up to 120°C, replacing oil and gas boilers in various applications. The partnership promotes environmentally-friendly technologies and is seen as a significant step towards sustainable energy production. Oilon is expanding its industrial heat pump business, with aggressive growth targets anticipated to make it a core focus in the coming years.