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Based in Swords, Ireland, Trane Technologies plc (TT) is a global leader in climate innovation. It is renowned for its comprehensive range of solutions to enhance sustainability and efficiency in buildings, homes, and transportation systems. With a market cap of $75.34 billion, Trane Technologies is recognized for its commitment to innovation, technological excellence, and dedication to advancing environmental responsibility. Trane Technologies is scheduled to announce its fiscal Q2 earnings results before the market opens on Wednesday, Jul. 31.
Ahead of the event, analysts expect TT to report a profit of $3.08 per share, up 14.9% from $2.68 in the year-ago quarter. The company has consistently surpassed Wall Street’s EPS estimates in its last four quarterly reports.
Its adjusted earnings of $1.94 per share for the last quarter surpassed the consensus estimate by 18.3%. Strong demand and execution in the Americas segment led to significant revenue and booking growth.
For fiscal 2024, analysts expect TT to report EPS of $10.49, up 16% from $9.04 in fiscal 2023.
TT stock is up 36.5% on a YTD basis, outperforming the broader S&P 500 Index's ($SPX) 13.8% gains and the iShares Global Industrials ETF’s (EXI) 7.4% returns over the same time frame.
TT reported Q1 results on Apr. 30. The company's revenue was $4.22 billion, increasing 14% year over year. TT shares closed up more than 5% after the company raised its guidance for the entire year.
The consensus opinion on TT stock is optimistic, with an overall “Moderate Buy” rating. Out of 18 analysts covering the stock, five advise a “Strong Buy” rating, 12 suggest a “Hold” rating, and one recommends a “Strong Sell.” TT's average analyst price target is $342.25, indicating a potential upside of 2.8% from the current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
