Trane Technologies Delivers Strong Q3: Revenue And EPS Outpace Expectations Amid Rising Demand

Benzinga10-30

Trane Technologies plc (NYSE:TT) shares are trading higher after the company reported third-quarter financial results and raised its FY24 guidance.

Revenues grew 11% year-over-year to $5.44 billion, surpassing the consensus of $5.32 billion. Bookings increased 5% to $5.213 billion in the quarter.

Enterprise reported an 11% increase in both revenues and organic revenues. The backlog totaled $7.2 billion, versus $6.9 billion at year-end 2023.

Adjusted EBITDA rose 18% to $1.127 billion, with margin expansion of 120 bps Y/Y to 20.7%. Adjusted EPS of $3.37 surpassed the street view of $3.24.

As of September 30, 2024, operating cash flow from continuing operating activities reached $2.3 billion, while free cash flow amounted to $2 billion. As of September 30, cash and equivalents stood at $1.93 billion.

Year-to-date through October, the company deployed or committed around $2.0 billion in capital, including $800 million for dividends and $1 billion for share repurchases.

Trane Technologies plans to maintain a competitive and growing dividend while deploying 100% of excess cash to shareholders over time.

Outlook: Trane Technologies raised FY24 organic revenue growth outlook to 11% (prior view 10%) and adjusted the EPS outlook to $11.10 (from $10.80) vs. consensus of $10.90.

Investors can gain exposure to the stock via Invesco Building & Construction ETF (NYSE:PKB) and AdvisorShares Gerber Kawasaki ETF (NYSE:GK).

Price Action: TT shares are down 4.58% at $372.72 at the last check Wednesday.

Read Next:

Jim Cramer Is Worried About This Plane Maker, Says Palo Alto Is A ‘Good’ One

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2479781977?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-30 22:30","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2479781977","market":"hk","top_or_hot":-1,"title":"Trane Technologies Delivers Strong Q3: Revenue And EPS Outpace Expectations Amid Rising Demand","media":"Benzinga","content":"<html><body><p><strong>Trane Technologies plc</strong> (NYSE:TT) shares are trading higher after the company reported third-quarter financial results and raised its FY24 guidance.</p>\n<p>Revenues grew 11% year-over-year to $5.44 billion, surpassing the consensus of $5.32 billion. Bookings increased 5% to $5.213 billion in the quarter.</p>\n<p>Enterprise reported an 11% increase in both revenues and organic revenues. The backlog totaled $7.2 billion, versus $6.9 billion at year-end 2023.</p>\n<p>Adjusted EBITDA rose 18% to $1.127 billion, with margin expansion of 120 bps Y/Y to 20.7%. Adjusted EPS of $3.37 surpassed the street view of $3.24.</p>\n<p>As of September 30, 2024, operating cash flow from continuing operating activities reached $2.3 billion, while free cash flow amounted to $2 billion. As of September 30, cash and equivalents stood at $1.93 billion.</p>\n<p>Year-to-date through October, the company deployed or committed around $2.0 billion in capital, including $800 million for dividends and $1 billion for share repurchases.</p>\n<p>Trane Technologies plans to maintain a competitive and growing dividend while deploying 100% of excess cash to shareholders over time.</p>\n<p><strong>Outlook</strong>: Trane Technologies raised FY24 organic revenue growth outlook to 11% (prior view 10%) and adjusted the EPS outlook to $11.10 (from $10.80) vs. consensus of $10.90.</p>\n<p>Investors can gain exposure to the stock via <strong>Invesco Building &amp; Construction ETF</strong> (NYSE:PKB) and <strong><a href=\"https://laohu8.com/S/GK\">AdvisorShares Gerber Kawasaki ETF</a> </strong>(NYSE:GK).</p>\n<p><strong>Price Action:</strong> TT shares are down 4.58% at $372.72 at the last check Wednesday.</p>\n<p><strong>Read Next</strong>:</p>\n<ul>\n<li><strong>Jim Cramer Is Worried About This Plane Maker, Says Palo Alto Is A ‘Good’ One</strong></li>\n</ul></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Trane Technologies Delivers Strong Q3: Revenue And EPS Outpace Expectations Amid Rising Demand</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTrane Technologies Delivers Strong Q3: Revenue And EPS Outpace Expectations Amid Rising Demand\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-30 22:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/earnings/24/10/41626740/trane-technologies-delivers-strong-q3-revenue-and-eps-outpace-expectations-amid-rising-demand><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Trane Technologies plc (NYSE:TT) shares are trading higher after the company reported third-quarter financial results and raised its FY24 guidance.\nRevenues grew 11% year-over-year to $5.44 billion, ...</p>\n\n<a href=\"https://www.benzinga.com/news/earnings/24/10/41626740/trane-technologies-delivers-strong-q3-revenue-and-eps-outpace-expectations-amid-rising-demand\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GK","symbol_name":"AdvisorShares Gerber Kawasaki ETF","start_time":0,"source_url":"https://www.benzinga.com/news/earnings/24/10/41626740/trane-technologies-delivers-strong-q3-revenue-and-eps-outpace-expectations-amid-rising-demand","article_id":"2479781977","we_media_id":"1052270027","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2479781977","pubTimestamp":1730298603,"sourceInfo":null,"weMediaInfo":{"media_name":"Benzinga","introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"summary":"Trane Technologies reported strong Q3 results and raised FY24 guidance. Revenues grew 11% Y/Y, bookings up 5%, and EPS beat street view.","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"GK":"AdvisorShares Gerber Kawasaki ETF","TT":"Trane技术","PKB":"INVESCO BUILDING & CONSTRUCTION ETF"},"translate_title":"特灵科技第三季度业绩强劲：需求不断增长，收入和每股收益超出预期","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GK":0.9,"PKB":0.9,"TT":0.9},"content_text":"Trane Technologies plc (NYSE:TT) shares are trading higher after the company reported third-quarter financial results and raised its FY24 guidance.\nRevenues grew 11% year-over-year to $5.44 billion, surpassing the consensus of $5.32 billion. Bookings increased 5% to $5.213 billion in the quarter.\nEnterprise reported an 11% increase in both revenues and organic revenues. The backlog totaled $7.2 billion, versus $6.9 billion at year-end 2023.\nAdjusted EBITDA rose 18% to $1.127 billion, with margin expansion of 120 bps Y/Y to 20.7%. Adjusted EPS of $3.37 surpassed the street view of $3.24.\nAs of September 30, 2024, operating cash flow from continuing operating activities reached $2.3 billion, while free cash flow amounted to $2 billion. As of September 30, cash and equivalents stood at $1.93 billion.\nYear-to-date through October, the company deployed or committed around $2.0 billion in capital, including $800 million for dividends and $1 billion for share repurchases.\nTrane Technologies plans to maintain a competitive and growing dividend while deploying 100% of excess cash to shareholders over time.\nOutlook: Trane Technologies raised FY24 organic revenue growth outlook to 11% (prior view 10%) and adjusted the EPS outlook to $11.10 (from $10.80) vs. consensus of $10.90.\nInvestors can gain exposure to the stock via Invesco Building & Construction ETF (NYSE:PKB) and AdvisorShares Gerber Kawasaki ETF (NYSE:GK).\nPrice Action: TT shares are down 4.58% at $372.72 at the last check Wednesday.\nRead Next:\n\nJim Cramer Is Worried About This Plane Maker, Says Palo Alto Is A ‘Good’ One","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"express","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2479781977"}