TRANE TECHNOLOGIES Smashes Q3 Earnings Estimates By $2.12

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Trane Technologies ($NYSE:TT) is a leading global provider of indoor comfort solutions and services. The company’s Q3 press release reports a non-GAAP EPS of $2.27, which beats the estimated $0.15 by a margin of $2.12. Trane Technologies’ strong performance in Q3 is attributable to its continued focus on operational excellence and cost management. The company is well-positioned to continue delivering shareholder value through its focus on innovation and global growth.

Earnings

TRANE TECHNOLOGIES reported strong earnings for its second quarter of fiscal year 2022, crushing estimates by $2.12 per share. Total revenue for the quarter came in at $14.8 billion, up 5.0% from the same period last year, while net income rose 7.1% to $1.5 billion. TRANE TECHNOLOGIES has seen its total revenue grow from $12.5 billion to $14.8 billion over the last three years, thanks in part to strong demand for its products and services.

The company is a leading provider of heating, ventilation and air conditioning systems, and its products are used in a wide range of commercial and industrial applications. The company is well-positioned to continue its growth trajectory in the years ahead.

Share Price

The stock opened at $162.0 and closed at $160.8, up by 0.6% from the previous closing price of 159.8. This marks the fourth consecutive quarter that TRANE TECHNOLOGIES has beaten earnings estimates. The company attributed the strong performance to robust demand for its products and services across all regions.

VI Analysis

According to the VI app, Trane Technologies is a medium risk investment in terms of financial and business aspects. The app has detected 2 risk warnings in the balance sheet, non financial. Register on vi.app to check it out.

VI Peers

Trane Technologies PLC is a leading global provider of indoor comfort solutions and services. The company’s products include air conditioners, furnaces, heat pumps, and related equipment. Trane Technologies competes with Generac Holdings Inc, ITT Inc, Lennox International Inc, and other companies in the indoor comfort solutions market.

– Generac Holdings Inc ($NYSE:GNRC)

Generac Holdings Inc, a Fortune 500 company, is a leading global designer and manufacturer of generators and other backup power products. The company has a market capitalization of $7.04 billion as of 2022 and a return on equity of 18.99%. Generac’s products are used in residential, commercial, and industrial applications. The company’s products are sold through a network of distributors and retailers in the United States, Canada, and other countries.

– ITT Inc ($NYSE:ITT)

In 2022, KBR had a market capitalization of $5.78 billion and a return on equity of 12.81%. KBR is a provider of engineering, construction, and other technical services to the U.S. government and other customers.

– Lennox International Inc ($NYSE:LII)

Lennox International Inc. is a global provider of climate control solutions for heating, ventilation, air conditioning, and refrigeration (HVACR) systems. The company operates in three segments: Residential Heating & Cooling, Commercial Heating & Cooling, and Refrigeration. It offers a range of products, including furnaces, air conditioners, heat pumps, packaged units, coils, and commercial refrigeration equipment. The company was founded in 1895 and is headquartered in Richardson, Texas.

Summary

TRANE TECHNOLOGIES is a world leader in air conditioning systems, services and solutions. With a strong heritage of innovation and engineering excellence, the company offers a broad portfolio of products, services and solutions that create comfortable, energy-efficient and sustainable indoor and outdoor environments for residential, commercial and industrial customers. TRANE TECHNOLOGIES has a long history of creating value for shareholders. The company has a strong track record of growing earnings and cash flow, and it is well-positioned for continued growth in the future.