We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Adjusted EPS of $2.17 surpassed the Zacks Consensus Estimate by 1.9% and increased 19.2% year over year.
Revenues of $4.4 billion missed the consensus mark by a slight margin but increased 8.6% year over year on a reported basis and 6% organically. Bookings were up 13% year over year on a reported basis and 12% organically.
Trane’s shares have gained 48.4% over the past year compared with the 25.8% rally of the industry it belongs to.
Revenues and Bookings
The Americas segment’s revenues of $3.4 billion were in line with our estimate and increased 8% year over year on a reported basis and 7% organically. Bookings were up 14% on a reported basis and 13% organically, at $3.6 billion.
Europe, Middle East and Africa segment’s revenues came in at $654.6 million, up 17% year over year on a reported basis and 8% organically, beating our estimate of $627.9 million. Bookings were up 18% year over year on a reported basis and 10% organically, at $570.2 million.
Revenues from the Asia Pacific segment were up 1% year over year on a reported basis and flat on an organic basis, to $379.2 million, missing our estimate of $396.9 million. Bookings of $339.1 million increased 3% on a reported basis and 2% organically.
Trane Technologies plc Price, Consensus and EPS Surprise
Adjusted operating income came in at $84.9 million, up 11% year over year. Adjusted operating margin improved 200 basis points to 22.4%.
Key Balance Sheet and Cash Flow Figures
Trane ended the quarter with a cash balance of $1.1 billion compared with $960 million in the previous quarter. The debt balance was $4.8 billion, flat with the previous quarter. It generated $944 million of cash from operating activities and a free cash outflow of $863 million in the quarter.
2024 Guidance
The company currently expects revenues to increase around 7% to 8% on a reported basis and 6% to 7% on an organic basis.
Adjusted EPS is expected to be between $10 and $10.3. The midpoint ($10.15) of the guided range is higher than the Zacks Consensus Estimate of $10.01.
Quarterly earnings of 83 cents per share beat the consensus mark by 1.2% but declined 39.4% year over year. RHI’s revenues of $1.5 billion beat the consensus mark by a slight margin but decreased 14.7% year over year.
Aptiv (APTV - Free Report) reported mixed fourth-quarter 2023 results, with earnings beating the Zacks Consensus Estimate but revenues missing the same.
Adjusted earnings of $1.4 per share beat the Zacks Consensus Estimate by 8.5% and increased 10.2% year over year. APTV’s revenues of $4.9 billion missed the Zacks Consensus Estimate by 0.5% but increased 6% year over year.
Broadridge Financial (BR - Free Report) reported impressive second-quarter fiscal 2024 results, with both earnings and revenues beating the Zacks Consensus Estimate.
Adjusted earnings of 92 cents per share beat the consensus mark by 4.6% and increased 1% year over year. BR’s total revenues of $1.41 billion beat the consensus mark by 0.9% and were up 9% year over year.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Trane Technologies (TT) Q4 Earnings Beat Estimates, Rise Y/Y
Trane Technologies plc (TT - Free Report) reported better-than-expected fourth-quarter 2023 results.
Adjusted EPS of $2.17 surpassed the Zacks Consensus Estimate by 1.9% and increased 19.2% year over year.
Revenues of $4.4 billion missed the consensus mark by a slight margin but increased 8.6% year over year on a reported basis and 6% organically. Bookings were up 13% year over year on a reported basis and 12% organically.
Trane’s shares have gained 48.4% over the past year compared with the 25.8% rally of the industry it belongs to.
Revenues and Bookings
The Americas segment’s revenues of $3.4 billion were in line with our estimate and increased 8% year over year on a reported basis and 7% organically. Bookings were up 14% on a reported basis and 13% organically, at $3.6 billion.
Europe, Middle East and Africa segment’s revenues came in at $654.6 million, up 17% year over year on a reported basis and 8% organically, beating our estimate of $627.9 million. Bookings were up 18% year over year on a reported basis and 10% organically, at $570.2 million.
Revenues from the Asia Pacific segment were up 1% year over year on a reported basis and flat on an organic basis, to $379.2 million, missing our estimate of $396.9 million. Bookings of $339.1 million increased 3% on a reported basis and 2% organically.
Trane Technologies plc Price, Consensus and EPS Surprise
Trane Technologies plc price-consensus-eps-surprise-chart | Trane Technologies plc Quote
Operating Margin Performance
Adjusted operating income came in at $84.9 million, up 11% year over year. Adjusted operating margin improved 200 basis points to 22.4%.
Key Balance Sheet and Cash Flow Figures
Trane ended the quarter with a cash balance of $1.1 billion compared with $960 million in the previous quarter. The debt balance was $4.8 billion, flat with the previous quarter. It generated $944 million of cash from operating activities and a free cash outflow of $863 million in the quarter.
2024 Guidance
The company currently expects revenues to increase around 7% to 8% on a reported basis and 6% to 7% on an organic basis.
Adjusted EPS is expected to be between $10 and $10.3. The midpoint ($10.15) of the guided range is higher than the Zacks Consensus Estimate of $10.01.
Trane currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Recent Earnings Snapshots
Robert Half (RHI - Free Report) reported better-than-expected fourth-quarter 2023 results.
Quarterly earnings of 83 cents per share beat the consensus mark by 1.2% but declined 39.4% year over year. RHI’s revenues of $1.5 billion beat the consensus mark by a slight margin but decreased 14.7% year over year.
Aptiv (APTV - Free Report) reported mixed fourth-quarter 2023 results, with earnings beating the Zacks Consensus Estimate but revenues missing the same.
Adjusted earnings of $1.4 per share beat the Zacks Consensus Estimate by 8.5% and increased 10.2% year over year. APTV’s revenues of $4.9 billion missed the Zacks Consensus Estimate by 0.5% but increased 6% year over year.
Broadridge Financial (BR - Free Report) reported impressive second-quarter fiscal 2024 results, with both earnings and revenues beating the Zacks Consensus Estimate.
Adjusted earnings of 92 cents per share beat the consensus mark by 4.6% and increased 1% year over year. BR’s total revenues of $1.41 billion beat the consensus mark by 0.9% and were up 9% year over year.