The company said net revenues for the 3 months ended June 30, 2024 increased 12.8%, or $602.7 million, compared with the same period a year earlier. The company cited higher volumes from end-customer demand in the Americas and EMEA segments, realization of price increases and incremental revenue from acquisitions as factors, and said foreign currency translation was unfavorable.

10-QQuarterly reportFiled Jul 31, 2024Period of report Jun 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

The company said net revenues for the 3 months ended June 30, 2024 increased 12.8%, or $602.7 million, compared with the same period a year earlier. The company cited higher volumes from end-customer demand in the Americas and EMEA segments, realization of price increases and incremental revenue from acquisitions as factors, and said foreign currency translation was unfavorable.
Trane said its gross profit margin for Q2 2024 rose 280 basis points to 36.5%. Selling and administrative expenses for the same quarter increased 28.9%, or $202.3 million, the company said, and it noted that a non-cash adjustment to contingent consideration had reduced those expenses by $52.0 million in the prior-year period.
The company said cash flow from operations from continuing operations was $958.6 million for the 6 months ended June 30, 2024. It said the figure was $548.1 million a year earlier and cited higher net earnings and an improved cash conversion cycle as drivers of the increase.
The company said it issued $500 million of 5.100% Senior Notes due 2034 in June 2024. It said it plans to use the net proceeds, together with cash on hand, to repay the $500 million of 3.550% Senior Notes at maturity in November 2024.

Key figures

Quarter ended June 30, 2024

Revenue: $5.3B
Operating income: $1.0B
Net income: $755M
EPS: $3.30

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Net revenues for Q2 2024 up 12.8%

The company said net revenues for the 3 months ended June 30, 2024 increased 12.8%, or $602.7 million, compared with the same period a year earlier. The company cited higher volumes from end-customer demand in the Americas and EMEA segments, realization of price increases and incremental revenue from acquisitions as factors, and said foreign currency translation was unfavorable.

Source · Based on the MD&A text of the filing

Trane Gross Margin Up 36.5%, SG&A Up 28.9%

Trane said its gross profit margin for Q2 2024 rose 280 basis points to 36.5%. Selling and administrative expenses for the same quarter increased 28.9%, or $202.3 million, the company said, and it noted that a non-cash adjustment to contingent consideration had reduced those expenses by $52.0 million in the prior-year period.

Source · Based on the MD&A text of the filing

6-Month Operating Cash Flow $958.6 million

The company said cash flow from operations from continuing operations was $958.6 million for the 6 months ended June 30, 2024. It said the figure was $548.1 million a year earlier and cited higher net earnings and an improved cash conversion cycle as drivers of the increase.

Source · Based on the MD&A text of the filing

Trane Issues $500 million Senior Notes Due 2034

The company said it issued $500 million of 5.100% Senior Notes due 2034 in June 2024. It said it plans to use the net proceeds, together with cash on hand, to repay the $500 million of 3.550% Senior Notes at maturity in November 2024.

Source · Based on the MD&A text of the filing

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.

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