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The company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in the past four quarters, delivering an average surprise of 7.5%.
The consensus estimate for TT’s revenues in the to-be-reported quarter is pegged at $5.1 billion, suggesting an 8.7% gain from that reported in the second quarter of 2023. The top line is expected to have benefited from a rise in customer demand in the Americas, the Asia Pacific, and Europe, Middle East and Africa (EMEA) segments.
We expect Americas’ revenues to grow 8.5% from the year-ago quarter’s actual to $4 billion. A strong performance in the commercial HVAC business is estimated to have benefited this region’s revenues. Our estimate for revenues from EMEA is pegged at $661.2 million, indicating 7.1% growth on a year-over-year basis. Asia Pacific revenues are anticipated to be $437.5 million, implying a 10.9% rise from that reported in the second quarter of 2023. The rise in bookings in China is expected to have contributed to this region's performance.
The consensus mark for TT's earnings per share for the to-be-reported quarter is pegged at $3.1, indicating 14.9% growth on a year-over-year basis. Strong margins are expected to have benefited the bottom line.
What Our Model Says
Our proven model predicts an earnings beat for Trane Technologies this time around. The combination of a positive Earnings ESPand 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 are reported with our Earnings ESP Filter.
Trane Technologies has an Earnings ESP of +0.95% and a Zacks Rank #2.
Other Stocks That Warrant a Look
Here are a few stocks from the broader Business Services sector, which, according to our model, also have the right combination of elements to beat on earnings this season.
Gartner (IT - Free Report) : The Zacks Consensus Estimate for the company’s second-quarter 2024 revenues is pegged at $1.6 billion, indicating an increase of 5.4% from the year-ago quarter’s actual. For earnings, the consensus mark is pegged at $3 per share, suggesting a year-over-year rise of 6.3%. The company beat the consensus estimate in the past four quarters, with an average surprise of 19.5%.
Corpay, Inc. (CPAY - Free Report) : The Zacks Consensus Estimate for the company’s second-quarter 2024 revenues is pegged at $971.7 million, suggesting 2.5% growth from the year-ago quarter’s reported figure. For earnings, the consensus mark is pegged at $4.5 per share, implying a 7.6% year-over-year rise. The company beat the consensus estimate in two of the past four quarters, missed in one and met in one, with an average surprise of 0.02%.
CRAI presently has an Earnings ESP of +0.06% and a Zacks Rank of 3. The company is scheduled to declare its second-quarter results on Aug 7.
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Trane Technologies (TT) to Post Q2 Earnings: What's in Store?
Trane Technologies plc (TT - Free Report) is set to report second-quarter 2024 earnings on Jul 31, 2024, before market open.
The company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in the past four quarters, delivering an average surprise of 7.5%.
Trane Technologies plc Price and EPS Surprise
Trane Technologies plc price-eps-surprise | Trane Technologies plc Quote
Q2 Expectations
The consensus estimate for TT’s revenues in the to-be-reported quarter is pegged at $5.1 billion, suggesting an 8.7% gain from that reported in the second quarter of 2023. The top line is expected to have benefited from a rise in customer demand in the Americas, the Asia Pacific, and Europe, Middle East and Africa (EMEA) segments.
We expect Americas’ revenues to grow 8.5% from the year-ago quarter’s actual to $4 billion. A strong performance in the commercial HVAC business is estimated to have benefited this region’s revenues. Our estimate for revenues from EMEA is pegged at $661.2 million, indicating 7.1% growth on a year-over-year basis. Asia Pacific revenues are anticipated to be $437.5 million, implying a 10.9% rise from that reported in the second quarter of 2023. The rise in bookings in China is expected to have contributed to this region's performance.
The consensus mark for TT's earnings per share for the to-be-reported quarter is pegged at $3.1, indicating 14.9% growth on a year-over-year basis. Strong margins are expected to have benefited the bottom line.
What Our Model Says
Our proven model predicts an earnings beat for Trane Technologies this time around. The combination of a positive Earnings ESPand 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 are reported with our Earnings ESP Filter.
Trane Technologies has an Earnings ESP of +0.95% and a Zacks Rank #2.
Other Stocks That Warrant a Look
Here are a few stocks from the broader Business Services sector, which, according to our model, also have the right combination of elements to beat on earnings this season.
Gartner (IT - Free Report) : The Zacks Consensus Estimate for the company’s second-quarter 2024 revenues is pegged at $1.6 billion, indicating an increase of 5.4% from the year-ago quarter’s actual. For earnings, the consensus mark is pegged at $3 per share, suggesting a year-over-year rise of 6.3%. The company beat the consensus estimate in the past four quarters, with an average surprise of 19.5%.
IT currently has an Earnings ESP of +0.69% and a Zacks Rank of 2. The company is scheduled to post its second-quarter results on Jul 30. You can see the complete list of today’s Zacks #1 Rank stocks here.
Corpay, Inc. (CPAY - Free Report) : The Zacks Consensus Estimate for the company’s second-quarter 2024 revenues is pegged at $971.7 million, suggesting 2.5% growth from the year-ago quarter’s reported figure. For earnings, the consensus mark is pegged at $4.5 per share, implying a 7.6% year-over-year rise. The company beat the consensus estimate in two of the past four quarters, missed in one and met in one, with an average surprise of 0.02%.
CRAI presently has an Earnings ESP of +0.06% and a Zacks Rank of 3. The company is scheduled to declare its second-quarter results on Aug 7.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.