Trane Technologies Plc Stock Price, News & Analysis

Trane Technologies reported Q4 2020 diluted EPS of $1.01, with adjusted EPS growing 12% to $1.03. Bookings increased 4% year-over-year to $3.17 billion, while net revenues remained flat. Operating margin improved to 12.2%, reflecting strong performance across segments despite COVID-19 impacts. For the full year, net revenues decreased by 5% to $12.45 billion, with adjusted EPS down 8% to $4.46. The company generated $1.7 billion in free cash flow and expects adjusted EPS of $5.30 to $5.50 in 2021, a growth of 19% to 23%.

The Board of Directors of Trane Technologies plc (NYSE:TT) declared a quarterly dividend of $0.59 per share, representing an 11% increase, with an annualized rate of $2.36. The dividend is payable on March 31, 2021, to shareholders of record on March 5, 2021. Additionally, a new share repurchase program of up to $2 billion has been authorized, set to begin after the completion of the current $1.5 billion program. These announcements underline Trane Technologies' strong financial position and commitment to returning value to shareholders.

Trane Technologies (NYSE:TT) has been recognized in the 2021 Corporate Knights Global 100 index for its sustainability efforts. This accolade reflects Trane's performance based on 24 key sustainability indicators. The company aims to address global challenges like climate change and enhance clean revenue through its initiatives. CEO Mike Lamach expressed pride in this recognition, noting the importance of sustainability for future growth. Trane also partners with the World Economic Forum to promote sustainable economic solutions and has made commitments to reduce greenhouse gas emissions significantly.

Trane Technologies (NYSE:TT) will host a conference call on February 5, 2021, at 10 a.m. ET to discuss its fourth quarter 2020 financial results. The earnings release and presentation will be made available on the company’s website prior to the call. A live webcast of the event can be accessed through the investor relations section of the Trane Technologies website, with a replay available later that same day at 1 p.m. ET.

Trane Technologies (NYSE:TT) has appointed April Miller Boise to its Board of Directors, effective December 8, 2020. Miller Boise brings 25 years of extensive experience in business strategy, corporate governance, and compliance, previously serving as executive vice president and general counsel at Eaton Corporation. Her diverse background spans industries like automotive and oil and gas, and she has held several executive roles. This appointment is part of Trane's commitment to diversity and reinforces its climate-focused strategy, with Miller Boise joining the Audit and Finance Committees.

Trane Technologies (NYSE:TT) will host an investor call on December 14, 2020, from 10:00 a.m. to 12:00 p.m. ET to discuss its long-term strategy and climate-focused transformation aimed at growth and margin expansion. The event will feature a Q&A session and allow investors to engage with the company's plan for sustainable climate solutions via their strategically aligned brands. A live webcast will be available on the company's website, with a replay accessible later that day.

The Board of Directors of Trane Technologies (NYSE:TT) declared a quarterly dividend of $0.53 per ordinary share, payable on December 31, 2020, to shareholders on record as of December 4, 2020. Trane Technologies has a strong history, having paid consecutive quarterly cash dividends since 1919 and annual dividends since 1910.