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Trane Technologies

TT · Industrials

Last earnings Oct 29, 2026

Key results

EPSquarter

$3.82

GAAP operating margin up 150 bps, adjusted operating margin* up 170 bps l GAAP continuing EPS of $3.82 adjusted continuing EPS* of $3.88, up 15 percent l Enterprise backlog of $7.2 billion, up 7 percent versus year-end 2024 * This news release contains non-GAAP financial measures.

SEC original ↗Trane Technologies — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Growthquarter

up 15 percent

GAAP operating margin up 150 bps, adjusted operating margin* up 170 bps l GAAP continuing EPS of $3.82 adjusted continuing EPS* of $3.88, up 15 percent l Enterprise backlog of $7.2 billion, up 7 percent versus year-end 2024 * This news release contains non-GAAP financial measures.

SEC original ↗Trane Technologies — Earnings release (8-K exhibit)EX-99Oct 30, 2025

SWORDS, Ireland, October 30, 2025 - Trane Tech nologies plc (NYSE TT), a global climate innovator, today reported diluted earnings per share (EPS) from continuing operations of $3.82 for the third quarter of 2025.

SEC original ↗Trane Technologies — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Net revenuequarter

$5,743

Third-Quarter 2025 Results Financial Comparisons - Third-Quarter Continuing Operations $, millions except EPS Q3 2025 Q3 2024 Y-O-Y Change Organic Y-O-Y Change Bookings $5,979 $5,213 15% 13% Net Revenues $5,743 $5,441 6% 4% GAAP Operating Income $1,165 $1,025 14% GAAP Operating Margin 20.3% 18.8% 150 bps Adjusted Operating Income* $1,182 $1,026 15% Adjusted Operating Margin* 20.6% 18.9% 170 bps Adjusted EBITDA* $1,252 $1,127 11% Adjusted EBITDA Margin* 21.8% 20.7% 110 bps GAAP Continuing EPS $3.82 $3.43 11% Adjusted Continuing EPS $3.88 $3.37 15% Pre-Tax Non-GAAP Adjustments, net** $16.7 $1.2 $15.5 **For details see table 2 and 3 of the news release.

SEC original ↗Trane Technologies — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Revenuequarter

6 percent

Enterprise reported revenues were up 6 percent organic revenues were up 4 percent.

SEC original ↗Trane Technologies — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Excluding Residential, enterprise organic bookings and revenues were up 26 percent and 10 percent, respectively.

SEC original ↗Trane Technologies — Earnings release (8-K exhibit)EX-99Oct 30, 2025

$, millions Q3 2025 Q3 2024 Y-O-Y Change Organic Y-O-Y Change Bookings $4,814.6 $4,296.9 12% 12% Net Revenues $4,663.3 $4,474.9 4% 4% GAAP Operating Income $1,002.6 $922.3 9% GAAP Operating Margin 21.5% 20.6% 90 bps Adjusted Operating Income $1,018.0 $920.7 11% Adjusted Operating Margin 21.8% 20.6% 120 bps Adjusted EBITDA $1,077.4 $993.9 8% Adjusted EBITDA Margin 23.1% 22.2% 90 bps Strong bookings of $4.8 billion reported and organic bookings both up 12 percent.

SEC original ↗Trane Technologies — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Reported and organic revenues were both up 4 percent.

SEC original ↗Trane Technologies — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Excluding Residential, Americas organic bookings and revenues were up 28 percent and 11 percent respectively.

SEC original ↗Trane Technologies — Earnings release (8-K exhibit)EX-99Oct 30, 2025

AI analysis

Q3 2025 · reported Oct 30, 2025

Based on: Earnings release + parent 8-K — transcript not held

EPS · Q3 2025
$3.82
EX-99 · Oct 30, 2025
Growth · Q3 2025
up 15 percent
EX-99 · Oct 30, 2025
Net revenue · Q3 2025
$5,743
-0.1% vs prior quarter computed from stated figures
EX-99 · Oct 30, 2025
Revenue · Q3 2025
6 percent
-66.7% vs prior quarter computed from stated figures
EX-99 · Oct 30, 2025

Headline figures

MetricQ3 2025Prior qtrYear ago
EPS$3.82$3.87—
Growthup 15 percent——
Net revenue$5,743$5,746—
Revenue6 percent18 percent—

EX-99 · Oct 30, 2025

Guidance · company-stated

revenue

“growth of approximately 7 percent”

EPS

“for full-year 2025 of approximately $13.15 to $13.25”

Guidance stated in the release for full-year 2025; figures as stated.

Next earningsNo verified date on fileNo date is estimated or imported

Capital allocation

Working Capital revenue3.9%
Free cash flow$1.8B
Dividend$2.8B
Dividend$840M

-more- -4- Balance Sheet and Cash Flow $, millions Q3 2025 Q3 2024 Y-O-Y Change Cash From Continuing Operating Activities Y-T-D $2,054 $2,272 ($218) Free Cash Flow Y-T-D* $1,786 $2,038 ($252) Working Capital Revenue* 3.9% 2.2% 170 bps Cash Balance September 30 $1,126 $1,928 ($802) Debt Balance September 30 $4,616 $5,269 ($653) Through September 30, 2025, cash flow from continuing operating activities was approximately $2.1 billion and free cash flow was approximately $1.8 billion.

General educational research only — not investment advice.Every figure is as stated in the held documents; values marked “computed from stated figures” are arithmetic on those stated figures. Guidance shown is the company’s own stated guidance. No price targets, no recommendations, no consensus estimates.

Event summary

Definitions of the non-GAAP financial measures can be found in the footnotes of this news release

Based on: Earnings release + parent 8-K — transcript not held

Guidance & outlook

revenue: “revenue growth of approximately 7 percent”

EPS: “EPS for full-year 2025 of approximately $13.15 to $13.25”

revenue (“full-year 2025”)
“Full-Year 2025 Guidance The Company expects full-year 2025 reported revenue growth of approximately 7 percent, including 1 percentage point related to acquisitions, and organic revenue growth of approximately 6 percent versus full-year 2024.”

EPS (“full-year 2025”)
“The Company expects GAAP continuing EPS for full-year 2025 of approximately $13.15 to $13.25, including $0.20 for non-GAAP adjustments.”

Guidance stated in the release for full-year 2025; figures as stated.

Capital allocation

-more- -4- Balance Sheet and Cash Flow $, millions Q3 2025 Q3 2024 Y-O-Y Change Cash From Continuing Operating Activities Y-T-D $2,054 $2,272 ($218) Free Cash Flow Y-T-D* $1,786 $2,038 ($252) Working Capital Revenue* 3.9% 2.2% 170 bps Cash Balance September 30 $1,126 $1,928 ($802) Debt Balance September 30 $4,616 $5,269 ($653) Through September 30, 2025, cash flow from continuing operating activities was approximately $2.1 billion and free cash flow was approximately $1.8 billion.

SEC original ↗Trane Technologies — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Year-to-date through October, the Company deployed or committed approximately $2.8 billion of capital including approximately $840 million for dividends, $420 million for M A, $1.35 billion for share repurchases and $150 million for debt retirement.

SEC original ↗Trane Technologies — Earnings release (8-K exhibit)EX-99Oct 30, 2025

The Company expects to pay a competitive and growing dividend and to deploy 100 percent of excess cash to shareholders over time.

SEC original ↗Trane Technologies — Earnings release (8-K exhibit)EX-99Oct 30, 2025

This news release includes forward-looking statements within the meaning of securities laws, which are statements that are not historical facts, including statements that relate to our future financial performance and targets, including revenue, EPS, and earnings our business operations demand for our products and services, including bookings and backlog capital deployment, including the amount and timing of our dividends, our share repurchase program, anticipated capital commitments for M A activity, and our capital allocation strategy our available liquidity our anticipated revenue growth, and the performance of the markets in which we operate.

SEC original ↗Trane Technologies — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Free cash flow in 2025 is defined as net cash provided by (used in) continuing operating activities adjusted for capital expenditures, cash payments for restructuring costs, legacy legal liability, and merger and acquisition transaction costs.

SEC original ↗Trane Technologies — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Free cash flow in 2024 is defined as net cash provided by (used in) continuing operating activities adjusted for capital expenditures, cash payments for restructuring costs, legacy legal liability, and merger and acquisition transaction costs.

SEC original ↗Trane Technologies — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Strategy & priorities

This news release includes forward-looking statements within the meaning of securities laws, which are statements that are not historical facts, including statements that relate to our future financial performance and targets, including revenue, EPS, and earnings our business operations demand for our products and services, including bookings and backlog capital deployment, including the amount and timing of our dividends, our share repurchase program, anticipated capital commitments for M A activity, and our capital allocation strategy our available liquidity our anticipated revenue growth, and the performance of the markets in which we operate.

SEC original ↗Trane Technologies — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Through our strategic brands Trane and Thermo King , and our portfolio of environmentally responsible products and services, we bring efficient and sustainable climate solutions to buildings, homes and transportation.

SEC original ↗Trane Technologies — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Risks & headwinds

These forward-looking statements are based on our current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from our current expectations.

SEC original ↗Trane Technologies — Earnings release (8-K exhibit)EX-99Oct 30, 2025

New risks and uncertainties arise from time to time, and it is impossible for us to predict these events and how they may affect the Company.

SEC original ↗Trane Technologies — Earnings release (8-K exhibit)EX-99Oct 30, 2025

What changed vs prior quarter

EPS — prior quarter passage and this quarter's passage are both cited.

SEC original ↗Trane Technologies — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Net revenue — prior quarter passage and this quarter's passage are both cited.

SEC original ↗Trane Technologies — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Revenue — prior quarter passage and this quarter's passage are both cited.

SEC original ↗Trane Technologies — Earnings release (8-K exhibit)EX-99Oct 30, 2025

Competitors

Competitors & peers

Same GICS sector — classification peers, not declared competitors

RELX (RELX) IndustrialsThomson Reuters (TRI) IndustrialsFedEx (FDX) IndustrialsVertiv (VRT) IndustrialsCanadian National Railway (CNI) IndustrialsAerCap Holdings (AER) IndustrialsCanadian Pacific Kansas City (CP) IndustrialsGeneral Dynamics (GD) Industrials
Documents

Filings

67 documents

Earnings releases

21 documents

Presentations

0 documents

No presentations for Trane Technologies are held in this edition of the library.

Transcripts

0 documents

No transcripts for Trane Technologies are held in this edition of the library.

Mentioned by

2 companies

Other tracked companies whose held documents mention Trane Technologies by name or ticker. A mention is counted once per document, from the document text the library holds.

See also the earnings calendar for every tracked company’s next earnings date.