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Trane Technologies Tops Estimates With $6.76 Billion Revenue and $4.86 Adjusted EPS

The company raised its full-year revenue growth guidance to about 13.5 percent and reaffirmed its full-year EPS guidance of $15.20 to $15.30 on an adjusted basis.

By Zintick Team · Editor: Kratik Mehta
Published

the control unit ventilation and air conditioning
Photo: Sun Shock/Shutterstock.com

Key points

  • Revenue of $6.76 billion vs. $6.50 billion analyst estimate
  • Adjusted EPS of $4.86 vs. $4.74 consensus; GAAP EPS $4.79, up 25%
  • Full-year revenue growth guidance raised to about 13.5%
  • Full-year adjusted EPS guidance of $15.20 to $15.30 reaffirmed

Trane Technologies (NYSE: TT) reported third-quarter revenue of $6.76 billion, above the $6.50 billion analysts expected, and adjusted continuing earnings per share of $4.86, above the $4.74 consensus estimate, in an 8-K filed Thursday. Reported revenue rose 18 percent from a year earlier, and organic revenue rose 16 percent. GAAP continuing EPS was $4.79, up 25 percent.

Bookings and backlog

Organic bookings rose 20 percent, and the book-to-bill ratio was 107 percent, with every segment above 100 percent. Backlog reached $12.5 billion, up 73 percent. Americas Commercial HVAC backlog rose about 80 percent.

Segment results

Americas revenue rose 21 percent to $5.65 billion, and adjusted operating margin widened 50 basis points to 22.3 percent. EMEA revenue rose about 1 percent to $755.8 million, while its adjusted operating margin fell 250 basis points to 17.2 percent. Asia Pacific revenue rose 8 percent to $356.0 million, and its adjusted operating margin fell 390 basis points to 18.6 percent.

Guidance and capital

The company expects full-year 2026 reported revenue growth of about 13.5 percent and organic growth of about 11 percent. It reaffirmed adjusted continuing EPS guidance of $15.20 to $15.30. The average analyst estimate for full-year EPS is $15.29. Year-to-date free cash flow was $2.8 billion, and the company deployed or committed about $3.4 billion through October, including about $1.4 billion for share repurchases and about $930 million for dividends.

The company's last close before the filing was $448.47 on Oct. 28, 2026.

Sources

Written with AI from the company's results filing with the SEC, analysts' estimates where we had them, and our market data, and checked against those sources before publishing. Our editorial standards.

TT page →

Filings, figures and price history are on the Trane Technologies page.