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Verisk Analytics, Inc. (VRSK) - free report >>
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Trane Technologies (TT) to Post Q3 Earnings: What's in Store?
Trane Technologies plc (TT - Free Report) is set to report third-quarter 2023 earnings on Nov 1, 2023, before the bell.
The company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the past four quarters, delivering an average surprise of 7.3%.
Trane Technologies plc Price and EPS Surprise
Trane Technologies plc price-eps-surprise | Trane Technologies plc Quote
Expectations This Time Around
The consensus estimate for TT’s revenues in the to-be-reported quarter is pegged at $4.78 billion, indicating 9.4% growth from the year-ago figure. The top line is expected to have benefited from improved customer demand in the Americas, Asia Pacific, and Europe, Middle East and Africa (EMEA) segments.
We expect Americas’ revenues to jump 7.3% from the year-ago actual figure to $3.74 billion. Our prediction for revenues from EMEA is pegged at $569.2 million, indicating 10.9% year-over-year growth. Asia Pacific revenues are expected to be $428.2 million, implying a 13.5% rise from the prior-year levels.
The consensus mark for TT's EPS in the to-be-reported quarter is pegged at $2.66 per share, implying 17.2% year-over-year growth. The bottom line is likely to have gained from operating strength.
What Our Model Says
Our proven Zacks model predicts a likely earnings beat for Trane Technologies this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Trane Technologies has an Earnings ESP of +0.54% and a Zacks Rank #2.
Other Stocks to Consider
Here are a few other stocks from the broader Zacks Business Services sector, which, according to our model, have the right combination of elements to beat on earnings this season.
Aptiv (APTV - Free Report) : The company has an Earnings ESP of +4.94% and a Zacks Rank of 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
APTV beat the Zacks Consensus Estimate in each of the last four quarters, with an average of 13.4%.
Verisk Analytics (VRSK - Free Report) : The company has an Earnings ESP of +2.41% and a Zacks Rank of 3.
VRSK surpassed the Zacks Consensus Estimate in three of the previous four quarters and matched on one instance, the average surprise being 9.9%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.