Record Quarterly Bookings
Trane Technologies achieved record quarterly bookings of $6 billion, representing organic growth of 13% year-over-year.
Strong Performance in Commercial HVAC
Americas Commercial HVAC bookings reached an all-time high, surging 30% year-over-year, with applied bookings more than doubling.
Robust Free Cash Flow
The company reported robust free cash flow, contributing to a strong financial performance.
Adjusted Operating Margin Expansion
Trane Technologies delivered 170 basis points of adjusted operating margin expansion and 15% adjusted EPS growth.
Significant Growth in Asia Pacific
In Asia Pacific, Commercial HVAC bookings were up mid-30s, with revenues growing in the low teens.
Services Business as a Growth Driver
The Services business, constituting approximately 1/3 of total revenues, grew in low double digits year-to-date and boasts a low-teens CAGR since 2020.
Positive Price Realization in Americas
The Americas segment reported positive price realization, contributing to the 4% organic revenue growth.