The company reported Q1 2024 net revenues of $4,215.5 million and GAAP operating income of $633.8 million, up 15% and 39%, respectively, from Q1 2023 net revenues of $3,665.8 million and operating income of $456.8 million.

1. 01

   The company reported Q1 2024 net revenues of $4,215.5 million and GAAP operating income of $633.8 million, up 15% and 39%, respectively, from Q1 2023 net revenues of $3,665.8 million and operating income of $456.8 million.

2. 02

   Trane Technologies said it reported GAAP continuing diluted EPS of $1.92 for Q1 2024 and adjusted continuing EPS of $1.94. Adjusted EPS rose 38% from $1.41 in Q1 2023. The company said its 2024 adjustments were for restructuring costs and legacy legal liability.

3. 03

   The company said bookings for Q1 2024 were $5,073 million, with organic bookings up 17%. It said Americas Commercial HVAC bookings rose 30%, and that backlog of $7.7 billion was up 10% from year-end 2023.

4. 04

   The company said it expects full-year 2024 reported and organic revenue growth of 8 to 9% and adjusted continuing EPS of $10.40 to $10.50, and presented this as a raised outlook. It said free cash flow for Q1 2024 was $175 million.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.