Trane Technologies plc (TT) Earnings
Trane Technologies plc is expected to report next earnings on July 29, 2026 (in NaN days), with a consensus EPS estimate of $4.27. TT has beaten EPS estimates in 12 of its last 12 reported quarters (average surprise +2.6% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $2.53 | $2.63 | +4.0% | $5.0B | +3.2% |
| Jan 29, 2026 | $2.81 | $2.86 | +1.8% | $5.1B | +1.1% |
| Oct 30, 2025 | $3.80 | $3.88 | +2.1% | $5.7B | -0.6% |
| Jul 30, 2025 | $3.79 | $3.88 | +2.4% | $5.7B | -0.5% |
| Apr 30, 2025 | $2.20 | $2.45 | +11.4% | $4.7B | +5.0% |
| Jan 30, 2025 | $2.52 | $2.61 | +3.6% | $4.9B | +1.8% |
| Oct 30, 2024 | $3.25 | $3.37 | +3.7% | $5.4B | +2.3% |
| Jul 31, 2024 | $3.08 | $3.30 | +7.1% | $5.3B | +3.5% |
| Apr 30, 2024 | $1.65 | $1.94 | +17.6% | $4.2B | +5.5% |
| Feb 1, 2024 | $2.13 | $2.17 | +1.9% | $4.4B | +10.9% |
| Nov 1, 2023 | $2.66 | $2.79 | +4.9% | $4.9B | +10.2% |
| Aug 2, 2023 | $2.56 | $2.68 | +4.7% | $4.7B | -2.1% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 30, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Dave mentioned purpose - driven strategy fuels performance, Q1 was strong with exceptional enterprise organic bookings up 24%, record backlog $10.7B up over 30% vs year - end 2025, organic revenue growth 3%, adjusted EPS growth 7%. Commercial HVAC businesses performed well, Americas commercial HVAC bookings at all - time high. Services business is a consistent growth driver. Operational excellence core, expect to mitigate tariff and inflationary pressures through business operating system. Raising full - year revenue and EPS guidance.
Guidance
Raising full - year organic revenue growth guidance to approx 7%, reported revenue guidance to approx 9.5%, adjusted EPS guidance range to $14.75 - $14.95. Q2 2026 expected approx 5% organic revenue growth and adjusted EPS in range of $4.20 - $4.25. On capital allocation, committed to balanced strategy, deploying $2.8 - $3.3B in 2026, including $900M for dividends.
Segment performance
Americas commercial HVAC bookings up approx 40% y - o - y, revenues up high single digits; residential bookings up low single digits, revenues declined mid - single digits; Americas transport refrigeration bookings up double digits, revenues up low single digits; EMEA results solid, consistent with expectations excluding geopolitical headwinds; Asia Pacific commercial HVAC bookings up high 20s, revenues grew low single digits. Enterprise organic revenue growth 3%, led by services growth up double digits. Adjusted EPS growth 7%.
Risks & headwinds
Tariff and inflationary pressures; geopolitical events in EMEA region impacting results.
Analyst Q&A
Q: About America's applied orders lead times and delivery schedule.
A: Dave said published lead times vary, some products have quick ship, customers are asking for longer lead times. Second question:
Q: Impact of cost/tariff changes on back half price and US production advantages.
A: Chris said expecting more inflation, will manage through year, US manufacturing strategy with many factories in US, over 95% products sold in US manufactured/assembled in US. Third question:
Q: Operating leverage.
A: Julian was told first quarter leverage high teens, second quarter mid - 20s range, second half mid - to high 20s. Fourth question:
Q: Resi HVAC one - step vs two - step and inventory.
A: Said resi came in better than anticipated, inventory set properly in channel. Fifth question:
Q: America's applied orders non - data center verticals and factory capacity.
A: Dave said broad - based growth, some factories have flex with only two or one shifts running. Sixth question:
Q: Global data center growth and Stellar's impact.
A: Dave said Stellar specializes in modular chiller plants for data centers, expected to be billion - dollar business, Chris talked about data center service revenue ramp - up. Seventh question:
Q: Data center behind - the - meter power and absorption chiller technology.
A: Dave said behind - the - meter needs in all buildings, working on smarter building technologies. Eighth question:
Q: Data center dialogue with customers after acquisitions and service presence.
A: Dave said dialogue with customers didn't change, service organization expertise alleviates customer fears. Ninth question:
Q: Transport outlook and ACT's projection.
A: Dave said transport market to trough in second quarter, upside in back half, ACT's projection may be aggressive. Tenth question:
Q: AI reference design in data centers and chiller innovation.
A: Dave said reference design is in between 12 - 24 months, working on smarter chiller systems. Eleventh question:
Q: Resi outlook and ACT's refa bill.
A: Dave said resi full year guide flattish, ACT's refa bill raise didn't change outlook much. Twelfth question:
Q: Data center DC power and AI reference design impact on trainers.
A: Dave said will make system work on DC power, reference design helps in integrated unit sales. Thirteenth question:
Q: US production advantages and chiller reference design.
A: Dave said proud of US manufacturing, reference design is in development for data center deployments.