Trane Technologies Beats Q2 Expectations, Raises 2024 Guidance Amid Solid Bookings
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 31 2024
0mins
Source: Benzinga
Financial Performance: Trane Technologies reported a 13% year-over-year revenue growth to $5.31 billion, exceeding expectations, and raised its FY24 guidance for organic revenue growth to 10% and adjusted EPS to $10.80.
Shareholder Returns: The company plans to maintain a competitive dividend while deploying excess cash to shareholders, having committed around $1.2 billion in capital year-to-date, including dividends and share repurchases.
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Analyst Views on TT
Wall Street analysts forecast TT stock price to rise
14 Analyst Rating
8 Buy
5 Hold
1 Sell
Moderate Buy
Current: 460.450
Low
370.00
Averages
476.33
High
550.00
Current: 460.450
Low
370.00
Averages
476.33
High
550.00
About TT
Trane Technologies PLC is an Ireland-based global climate innovator. Through its brands Trane and Thermo King, and its portfolio of products and services, it brings climate solutions to buildings, homes, and transportation. Its Americas segment serves customers in North America and Latin America and includes commercial heating, cooling, and ventilation systems, building controls and solutions, and energy services and solutions; residential heating and cooling; and transport refrigeration systems and solutions. Its EMEA segment serves customers in the Europe, Middle East and Africa region and includes heating, cooling and ventilation systems, services and solutions. Its Asia Pacific segment serves customers throughout the Asia Pacific region and includes heating, cooling and ventilation systems, services, and solutions. It also offers autonomous heating, ventilation and air conditioning controls and generative artificial intelligence building technology.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Leadership Transition: LiquidStack co-founder and CEO Joe Capes will join Trane Technologies in a leadership role, continuing to lead the business and ensuring seamless integration of technology and market strategies.
- Transaction Timeline: The acquisition is expected to close in early 2026, and while financial terms remain undisclosed, this move will further solidify Trane Technologies' leadership in the commercial HVAC sector.
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- Technology Integration: This acquisition combines LiquidStack's advanced liquid cooling technology with Trane's thermal management solutions, enhancing efficiency and sustainability under high-density AI workloads, thereby addressing the growing demands of modern data centers.
- Global Expansion: LiquidStack's global team and its R&D and manufacturing capabilities in Texas and Hong Kong will be integrated into Trane's Commercial HVAC business unit, strengthening its technical support and service capabilities in the global market.
- Leadership Change: LiquidStack co-founder and CEO Joe Capes will join Trane Technologies in a leadership role, continuing to drive the growth of the LiquidStack business, indicating Trane's commitment to future technological innovation.
See More
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