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Trane Technologies PLC Class A TT

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Morningstar’s Analysis

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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Trane Technologies Reports Great Q2 Results as Robust Demand Persists

Analyst Note

| Brian Bernard, CFA, CPA |

Trane Technologies enjoyed a strong second-quarter performance, which featured 22% top line growth (18% organic) and a 51% increase in adjusted EPS from continuing operations (to $1.92). While Trane had an easy prior-year comparison due to the pandemic (second-quarter 2020 sales were down 13% year over year), the firm's results topped prepandemic levels. Compared with second-quarter 2019, revenue and adjusted EPS were 6% and 12% higher, respectively.

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Company Profile

Business Description

Trane Technologies manufactures and services commercial and residential HVAC systems and transportation refrigeration solutions under its prominent Trane, American Standard, and Thermo King brands. The $12.5 billion company generates approximately 70% of sales from equipment and 30% from parts and services. While the firm is domiciled in Ireland, North America accounts for over 70% of its revenue.

Contact
170/175 Lakeview Drive, Airside Business Park
Dublin, Ireland
T +353 18707400
Sector Industrials
Industry Specialty Industrial Machinery
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type
Employees 35,000

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