Trane Technologies plc (NYSE:TT) raised its full-year guidance Tuesday after posting better-than-expected second-quarter earnings, bolstered by strong demand in its Americas Commercial HVAC segment and record bookings. Despite the upbeat earnings report, the company’s shares experienced an 8% decline in morning trading.
The climate solutions company reported adjusted earnings of $3.88 per share, an increase of 18% from a year earlier and above the Wall Street consensus of $3.79. Net revenue was $5.75 billion, up 8% year-over-year but just short of analysts’ estimates of $5.76 billion.
