Trane Technologies Plc Stock Price, News & Analysis

Trane Charlotte, a Commercial HVAC manufacturing facility and Rental Service office, has achieved a remarkable safety milestone of 3,000,000 work hours (approximately ten years) without a lost day due to work-related injury or illness. This achievement, celebrated on May 21, 2024, highlights the plant's commitment to employee safety and well-being.

The facility, which has been operational for 50 years and employs about 125 people, received recognition from North Carolina Senator Thom Tillis and Congresswoman Alma Adams. Trane Charlotte has also demonstrated environmental responsibility by achieving zero waste to landfill in 2021 and upgrading its HVAC and lighting systems to reduce energy consumption.

The plant specializes in manufacturing compressors and motors for commercial customers with complex needs, while Trane Rental Services provides scalable cooling, heating, and power solutions for unique applications and special events.

Trane Technologies (NYSE:TT), a global climate innovator, has launched Season 4 of its Healthy Spaces Podcast, exploring climate technology and innovation in various spaces. Co-hosted by Dominique Silva, Scott Tew, and Oakley Roberts, the podcast features conversations with entrepreneurs, scientists, and sustainability leaders shaping the future of climate technology. Key topics include scaling clean technologies, net-zero plans, climate talent, heat policy, and digital transformation in reducing emissions.

The podcast aims to educate audiences on existing breakthrough technology and future innovations. It aligns with Trane Technologies' 2030 Sustainability Commitments, including the Gigaton Challenge to reduce customer emissions by a billion metric tons and its pledge to reach net-zero carbon emissions by 2050. The company's emissions reduction targets have been validated by the Science Based Targets Initiative (SBTi).

In the latest episode of the Healthy Spaces podcast, Trane Technologies' VP of Sustainability, Scott Tew, discusses heat vulnerability with Ashley Ward from Duke University's Heat Policy Innovation Hub and Helen Walter-Terrinoni, Director of Global Climate Policy at Trane Technologies. They explore the urgent need for rethinking heat policies to better address extreme heat, especially in rural areas. Key topics include the lack of adequate cooling in 36,000 public schools in the U.S. and the role of public-private partnerships in creating resilient communities. The episode also highlights practical solutions such as passive cooling strategies and sustainable building designs.

Trane Technologies has implemented an innovative sustainable water upgrade at a prestigious women's hospital in Abu Dhabi. The project involved installing two City™ RTSF Water-to-Water Heat Pumps to replace the legacy boiler and chiller system. This upgrade has resulted in:

• A 50% increase in water capacity
• Monthly energy savings of $12,000
• Annual carbon reduction of 50 metric tons (CO2e)
• Compliance with local health authority water temperature mandates

The new system recovers energy from the cooling process to heat water, offering a more efficient and sustainable solution. After a successful one-month trial, the rental solution was extended for 12 months, with plans to permanently replace the old system.

Trane Technologies (NYSE:TT) reported strong second-quarter 2024 results, with reported revenues up 13% to $5.3 billion. The company saw significant improvements across key metrics:

- GAAP operating margin up 70 bps
- Adjusted operating margin up 140 bps
- Adjusted EBITDA margin of 21.1%, up 140 bps
- GAAP continuing EPS of $3.33
- Adjusted continuing EPS of $3.30, up 23%
- Bookings up 19%, led by Americas Commercial HVAC

Given the strong performance, Trane Technologies has raised its full-year 2024 revenue and EPS guidance. The company now expects full-year reported and organic revenue growth of approximately 10% and GAAP and adjusted continuing EPS of approximately $10.80.

Healthy Spaces Podcast: Season 4, Episode 3 - Climate Talent

Trane Technologies discusses innovative workforce development with Opportunity@Work's Byron Auguste and Trane Technologies' VP of Talent Betsey Strobl. Nearly 70 million Americans lack college degrees while industries face growing talent shortages. This episode explores skills-based hiring to bridge this gap. The tear the paper ceiling campaign emphasizes skills over traditional qualifications, aiming to diversify the talent pool and promote workforce innovation. Topics include hiring more women in advanced manufacturing and leveraging alternative routes for skill acquisition. Listen to the full episode on major podcast platforms like Apple Podcasts, Spotify, and YouTube.

Trane Technologies' latest episode of the Healthy Spaces Podcast, titled 'Nitty-Gritty on Net-Zero,' brings together climate leader Avipsa Mahapatra and host Scott Tew to discuss the complexities of achieving a net-zero economy. Avipsa has been focusing on global decarbonization, especially tackling super pollutants like HFCs. The episode highlights the importance of transparency, data, and ambitious commitments from companies to make significant strides toward sustainability. Key topics include the impact of heating and cooling systems on global emissions, the role of refrigerants, and the importance of public accountability and measurable goals. The conversation is framed by the 'Nitty-Gritty on Net-Zero Roadmaps' discussion from South by Southwest 2024, providing listeners with actionable insights and industry context. The podcast encourages organizations to share their stories and learn from each other’s experiences in building sustainable practices. For more details, listen to the full episode on popular platforms such as Apple Podcasts, Spotify, YouTube, and Amazon Music.

Trane Technologies (NYSE: TT) has announced a conference call to discuss its Q2 2024 financial results. The call will take place on July 31, 2024, at 10 a.m. ET. The company's earnings release and presentation will be available on their website prior to the call. The live webcast can be accessed through Trane Technologies' investor relations section. A replay will be available on the website starting at 1 p.m. ET the same day.

Trane Technologies provided sustainable and efficient indoor climate solutions for the 19th Asian Games held in Hangzhou, China. The company delivered high-efficiency centrifugal chillers and air-cooled screw heat pump units for key venues including the Olympic Sports Center Stadium, the Natatorium, and the Comprehensive Training Facility. Trane's solutions helped the event achieve its goal of being the most sustainable in its 110-year history, aiming for a carbon-neutral status. The company's technologies ensured optimal air quality and comfort for athletes and spectators, while also meeting stringent green building standards. Trane's involvement in this project is part of its broader commitment to sustainable innovation.