Latest news with #DaveRegnery
Yahoo
5 days ago
- Business
- Yahoo
Trane Technologies Delivers Leading Business and Sustainability Performance by Reducing Customers' Energy Use and Carbon Emissions
Sustainability Report highlights reduction of 237 million metric tons of customers' carbon emissions and 44% reduction in operational emissions since 2019 SWORDS, IE / / May 29, 2025 / Trane Technologies (NYSE:TT), a global climate innovator, is continuing to set the pace for decarbonizing buildings, industry and the cold chain by reducing energy use and carbon emissions for customers and in its own operations - while consistently delivering leading business and sustainability performance. Trane Technologies' 2024 Sustainability Report highlights the company's consistent execution, focused sustainability strategy and continued investment in innovation. "We continue to advance sustainability by reducing energy use and emissions through our innovative thermal management systems, electrification and digital enablement for our customers and in our own operations," said Dave Regnery, chair and CEO of Trane Technologies. "Our customer solutions are green for green - good for the planet, and good for our customers' bottom line." Trane Technologies has reduced customer carbon emissions by 237 million metric tons since 2019, on track to meet its Gigaton Challenge goal to reduce one gigaton (or, one billion metric tons) of customer carbon emissions by 2030. In 2024, the company launched 190 new products including a significant portfolio refresh with lower global warming potential (GWP) refrigerants. With high customer demand for sustainable solutions, the company delivered a fourth consecutive year of more than 20% adjusted EPS growth. "We're setting the standard for what's possible in sustainable innovation. While demand for our sustainable solutions and manufacturing needs have increased, we've simultaneously reduced carbon emissions and environmental impacts in our operations," said Mauro Atalla, Chief Technology & Sustainability Officer of Trane Technologies. "We are proving that by embedding sustainability into our purpose, strategy and culture, it is possible to be a growth company, meet ambitious sustainability commitments and add value to customers by helping them meet their goals." Trane Technologies' 2024 Sustainability Report includes a comprehensive set of data, aligned with leading sustainability frameworks, that showcases how centering sustainability in business generates positive outcomes for customers, investors, employees and society. Notable advancements made in 2024 toward Trane Technologies' 2030 Sustainability Commitments include (compared to 2019 baseline unless otherwise noted): Gigaton Challenge: Reduced 237 million metric tons of carbon - equivalent to the emissions generated from using nearly 27 billion gallons of gasoline - toward the Gigaton Challenge, a pledge to reduce one billion metric tons of carbon from product use emissions by 2030. Carbon Neutrality: Reduced operational emissions by 44%, on track toward reaching science-based target of 50% reduction by 2030. Absolute Energy: Reduced absolute energy use by 3.2% toward 10% goal, even as manufacturing and production demands increased in support of company growth. Renewable Energy*: Met global operational electricity demands with 68% renewable energy sources. Water and Waste: Reduced total water usage by 49% and by 27% at facilities in water-stressed regions and achieved zero waste to landfill at 80% of global manufacturing sites. Embodied Carbon: In 2024, announced an industry-first, precedent-setting commitment to reduce embodied carbon in our products by 40% by 2030. Culture and Workforce Development*: Achieved employee engagement score of 82 (out of 100), ranking in the top quartile among benchmarked companies. Increased participation in tuition advancement program by 28% compared to prior year with nearly 600 global employees receiving an aggregate value of $2.5 million dollars in tuition assistance. Volunteerism: Completed more than 92,000 employee volunteer hours*, totaling more than 329,000 total volunteer hours since 2019. A series of prominent awards, ratings and listings also recognized Trane Technologies for its industry-leading sustainability performance and company culture: Dow Jones Sustainability Index (14th consecutive year listed on North America Index, 4th consecutive year on World Index) Just Capital's JUST 100 List (ranked 1st in Buildings Materials & Construction industry and 6th overall) CDP Climate Change 'A' List (3rd consecutive year) Corporate Knights (ranked 26th on the 2025 Global 100) Ethisphere® Institute's World's Most Ethical Companies (2nd consecutive year) Fortune's World's Most Admired Companies (13th consecutive year) Alongside its Sustainability Report, Trane Technologies published its Climate Transition Plan that outlines the company's forward-looking climate strategy, including its plans for managing physical and transition climate risks and opportunities, reducing carbon emissions in alignment with international climate agreements and preparing for future policy, market and technological changes. To read Trane Technologies' full 2024 Sustainability Report, visit About Trane Technologies Trane Technologies is a global climate innovator. Through our strategic brands Trane® and Thermo King®, and our portfolio of environmentally responsible products and services, we bring efficient and sustainable climate solutions to buildings, homes and transportation. Visit This news release includes "forward-looking statements" within the meaning of securities laws, which are statements that are not historical facts, including statements that relate to our 2030 Sustainability Commitments; our pathway to net-zero by 2050; our sustainability targets, goals, commitments and programs and their anticipated impacts; our product and service innovations; and other business plans, initiatives and objectives. These forward-looking statements are based on our current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from our current expectations. Factors that could cause such differences can be found in our Form 10-K for the year ended December 31, 2024, as well as our subsequent reports on Form 10-Q and other SEC filings. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect the Company. We assume no obligation to update these forward-looking statements. * Calendar year 2024 metric View additional multimedia and more ESG storytelling from Trane Technologies on Contact Info: Spokesperson: Trane TechnologiesWebsite: info@ SOURCE: Trane Technologies View the original press release on ACCESS Newswire Sign in to access your portfolio
Associated Press
6 days ago
- Business
- Associated Press
Trane Technologies Delivers Leading Business and Sustainability Performance by Reducing Customers' Energy Use and Carbon Emissions
SWORDS, Ireland, May 29, 2025 /3BL/ - Trane Technologies (NYSE: TT), a global climate innovator, is continuing to set the pace for decarbonizing buildings, industry and the cold chain by reducing energy use and carbon emissions for customers and in its own operations – while consistently delivering leading business and sustainability performance. Trane Technologies' 2024 Sustainability Report highlights the company's consistent execution, focused sustainability strategy and continued investment in innovation. 'We continue to advance sustainability by reducing energy use and emissions through our innovative thermal management systems, electrification and digital enablement for our customers and in our own operations,' said Dave Regnery, chair and CEO of Trane Technologies. 'Our customer solutions are green for green – good for the planet, and good for our customers' bottom line.' Trane Technologies has reduced customer carbon emissions by 237 million metric tons since 2019, on track to meet its Gigaton Challenge goal to reduce one gigaton (or, one billion metric tons) of customer carbon emissions by 2030. In 2024, the company launched 190 new products including a significant portfolio refresh with lower global warming potential (GWP) refrigerants. With high customer demand for sustainable solutions, the company delivered a fourth consecutive year of more than 20% adjusted EPS growth. 'We're setting the standard for what's possible in sustainable innovation. While demand for our sustainable solutions and manufacturing needs have increased, we've simultaneously reduced carbon emissions and environmental impacts in our operations,' said Mauro Atalla, Chief Technology & Sustainability Officer of Trane Technologies. 'We are proving that by embedding sustainability into our purpose, strategy and culture, it is possible to be a growth company, meet ambitious sustainability commitments and add value to customers by helping them meet their goals.' Trane Technologies' 2024 Sustainability Report includes a comprehensive set of data, aligned with leading sustainability frameworks, that showcases how centering sustainability in business generates positive outcomes for customers, investors, employees and society. Notable advancements made in 2024 toward Trane Technologies' 2030 Sustainability Commitments include (compared to 2019 baseline unless otherwise noted): A series of prominent awards, ratings and listings also recognized Trane Technologies for its industry-leading sustainability performance and company culture: Alongside its Sustainability Report, Trane Technologies published its Climate Transition Plan that outlines the company's forward-looking climate strategy, including its plans for managing physical and transition climate risks and opportunities, reducing carbon emissions in alignment with international climate agreements and preparing for future policy, market and technological changes. To read Trane Technologies' full 2024 Sustainability Report, visit About Trane TechnologiesTrane Technologies is a global climate innovator. Through our strategic brands Trane® and Thermo King®, and our portfolio of environmentally responsible products and services, we bring efficient and sustainable climate solutions to buildings, homes and transportation. Visit This news release includes 'forward-looking statements' within the meaning of securities laws, which are statements that are not historical facts, including statements that relate to our 2030 Sustainability Commitments; our pathway to net-zero by 2050; our sustainability targets, goals, commitments and programs and their anticipated impacts; our product and service innovations; and other business plans, initiatives and objectives. These forward-looking statements are based on our current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from our current expectations. Factors that could cause such differences can be found in our Form 10-K for the year ended December 31, 2024, as well as our subsequent reports on Form 10-Q and other SEC filings. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect the Company. We assume no obligation to update these forward-looking statements. * Calendar year 2024 metric
Business Wire
6 days ago
- Business
- Business Wire
Trane Technologies Delivers Leading Business and Sustainability Performance by Reducing Customers' Energy Use and Carbon Emissions
SWORDS, Ireland--(BUSINESS WIRE)--Trane Technologies (NYSE: TT), a global climate innovator, is continuing to set the pace for decarbonizing buildings, industry and the cold chain by reducing energy use and carbon emissions for customers and in its own operations – while consistently delivering leading business and sustainability performance. Trane Technologies' 2024 Sustainability Report highlights the company's consistent execution, focused sustainability strategy and continued investment in innovation. 'We continue to advance sustainability by reducing energy use and emissions through our innovative thermal management systems, electrification and digital enablement for our customers and in our own operations,' said Dave Regnery, chair and CEO of Trane Technologies. 'Our customer solutions are green for green – good for the planet, and good for our customers' bottom line.' Trane Technologies has reduced customer carbon emissions by 237 million metric tons since 2019, on track to meet its Gigaton Challenge goal to reduce one gigaton (or, one billion metric tons) of customer carbon emissions by 2030. In 2024, the company launched 190 new products including a significant portfolio refresh with lower global warming potential (GWP) refrigerants. With high customer demand for sustainable solutions, the company delivered a fourth consecutive year of more than 20% adjusted EPS growth. 'We're setting the standard for what's possible in sustainable innovation. While demand for our sustainable solutions and manufacturing needs have increased, we've simultaneously reduced carbon emissions and environmental impacts in our operations,' said Mauro Atalla, Chief Technology & Sustainability Officer of Trane Technologies. 'We are proving that by embedding sustainability into our purpose, strategy and culture, it is possible to be a growth company, meet ambitious sustainability commitments and add value to customers by helping them meet their goals.' Trane Technologies' 2024 Sustainability Report includes a comprehensive set of data, aligned with leading sustainability frameworks, that showcases how centering sustainability in business generates positive outcomes for customers, investors, employees and society. Notable advancements made in 2024 toward Trane Technologies' 2030 Sustainability Commitments include (compared to 2019 baseline unless otherwise noted): Gigaton Challenge: Reduced 237 million metric tons of carbon – equivalent to the emissions generated from using nearly 27 billion gallons of gasoline – toward the Gigaton Challenge, a pledge to reduce one billion metric tons of carbon from product use emissions by 2030. Carbon Neutrality: Reduced operational emissions by 44%, on track toward reaching science-based target of 50% reduction by 2030. Absolute Energy: Reduced absolute energy use by 3.2% toward 10% goal, even as manufacturing and production demands increased in support of company growth. Renewable Energy*: Met global operational electricity demands with 68% renewable energy sources. Water and Waste: Reduced total water usage by 49% and by 27% at facilities in water-stressed regions and achieved zero waste to landfill at 80% of global manufacturing sites. Embodied Carbon: In 2024, announced an industry-first, precedent-setting commitment to reduce embodied carbon in our products by 40% by 2030. Culture and Workforce Development *: Achieved employee engagement score of 82 (out of 100), ranking in the top quartile among benchmarked companies. Increased participation in tuition advancement program by 28% compared to prior year with nearly 600 global employees receiving an aggregate value of $2.5 million dollars in tuition assistance. Volunteerism: Completed more than 92,000 employee volunteer hours*, totaling more than 329,000 total volunteer hours since 2019. A series of prominent awards, ratings and listings also recognized Trane Technologies for its industry-leading sustainability performance and company culture: Dow Jones Sustainability Index (14th consecutive year listed on North America Index, 4 th consecutive year on World Index) Just Capital's JUST 100 List (ranked 1 st in Buildings Materials & Construction industry and 6 th overall) CDP Climate Change 'A' List (3 rd consecutive year) Corporate Knights (ranked 26 th on the 2025 Global 100) Ethisphere® Institute's World's Most Ethical Companies (2 nd consecutive year) Fortune's World's Most Admired Companies (13 th consecutive year) Alongside its Sustainability Report, Trane Technologies published its Climate Transition Plan that outlines the company's forward-looking climate strategy, including its plans for managing physical and transition climate risks and opportunities, reducing carbon emissions in alignment with international climate agreements and preparing for future policy, market and technological changes. To read Trane Technologies' full 2024 Sustainability Report, visit About Trane Technologies Trane Technologies is a global climate innovator. Through our strategic brands Trane® and Thermo King®, and our portfolio of environmentally responsible products and services, we bring efficient and sustainable climate solutions to buildings, homes and transportation. Visit This news release includes 'forward-looking statements' within the meaning of securities laws, which are statements that are not historical facts, including statements that relate to our 2030 Sustainability Commitments; our pathway to net-zero by 2050; our sustainability targets, goals, commitments and programs and their anticipated impacts; our product and service innovations; and other business plans, initiatives and objectives. These forward-looking statements are based on our current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from our current expectations. Factors that could cause such differences can be found in our Form 10-K for the year ended December 31, 2024, as well as our subsequent reports on Form 10-Q and other SEC filings. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events or how they may affect the Company. We assume no obligation to update these forward-looking statements.
Yahoo
06-05-2025
- Business
- Yahoo
TT Q1 Earnings Call: Trane Technologies Exceeds Expectations, Focuses on Pricing Amid Tariffs
HVAC company Trane (NYSE:TT) reported Q1 CY2025 results exceeding the market's revenue expectations , with sales up 11.2% year on year to $4.69 billion. Its non-GAAP profit of $2.41 per share was 9.4% above analysts' consensus estimates. Is now the time to buy TT? Find out in our full research report (it's free). Revenue: $4.69 billion vs analyst estimates of $4.46 billion (11.2% year-on-year growth, 5% beat) Adjusted EPS: $2.41 vs analyst estimates of $2.20 (9.4% beat) Adjusted EBITDA: $850.9 million vs analyst estimates of $783.5 million (18.1% margin, 8.6% beat) Management reiterated its full-year Adjusted EPS guidance of $12.80 at the midpoint Operating Margin: 17.5%, up from 15% in the same quarter last year Free Cash Flow Margin: 4.7%, similar to the same quarter last year Backlog: $7.3 billion at quarter end Market Capitalization: $89.85 billion Trane Technologies' first quarter was defined by broad-based demand across commercial HVAC and residential segments, with management emphasizing that order rates for Commercial HVAC in the Americas reached an all-time high. CEO Dave Regnery noted that growth was not limited to a few verticals, citing strong activity in data centers, healthcare, and education, while Residential performance reflected robust adoption of new refrigerant products and steady inventory management. Management attributed margin expansion to ongoing productivity, pricing actions, and disciplined cost control, even as they acknowledged elevated inventories and a challenging Chinese market environment. Looking ahead, management reiterated full-year guidance and expressed confidence in delivering results at the high end of ranges. CFO Chris Kuehn explained that Trane will address newly imposed tariffs through 'surgical' price increases and supply chain adjustments, aiming to fully offset an estimated $250 million to $275 million in tariff costs without using tariffs as a profit center. The company remains focused on maintaining pricing discipline, managing channel inventories, and executing scenario planning to navigate potential macroeconomic headwinds and market uncertainties. Management highlighted that Trane Technologies' strong quarterly performance was driven by both volume and price realization, with differentiated execution across regions and product categories. Commercial HVAC Momentum: Americas Commercial HVAC bookings set a new quarterly record, with broad-based demand spanning verticals such as data centers, healthcare, and higher education. The pipeline remains robust, and project paybacks are a key selling point for customers. Residential Segment Execution: The residential business saw high-teens revenue growth, driven by the transition to new 454B refrigerant products and no discernible pre-buy impact, despite modestly elevated channel inventories. Management indicated 80% of residential shipments were 454B units in the quarter. Tariff Mitigation Strategy: Leadership explained that recently implemented tariffs—primarily affecting Chinese imports—would be offset through targeted price increases, supply chain adjustments, and contract provisions. Management underscored that tariffs would not be used to boost profit margins, with CFO Chris Kuehn stating, 'We're focused on getting the cost down and then pricing accordingly to offset it dollar for dollar.' EMEA and Asia Dynamics: In Europe, ongoing reinvestment in products and channels led to margin compression but was accompanied by strong order rates. In Asia Pacific, the team delivered margin expansion despite flat revenues, while China remained a challenging market, with management maintaining a long-term strategic approach. Service Business and Backlog Strength: The service business, now comprising one-third of enterprise revenues, continues to grow at a high single-digit compound annual rate. The quarter closed with a $7.3 billion backlog, reflecting sustained demand and solid execution across all regions. Management maintained a steady outlook for the remainder of the year, emphasizing scenario planning, targeted pricing, and operational flexibility as key themes underpinning guidance. Tariff Pass-Through and Pricing: Trane plans to mitigate tariff impacts by adjusting prices and working with suppliers to reduce costs. The company intends to offset tariffs dollar for dollar, with future pricing actions contingent on evolving trade policy clarity. Commercial HVAC and Services Growth: Ongoing strength in Commercial HVAC and services is expected to drive high single-digit revenue growth, with a focus on project paybacks and retrofit activity supporting continued pipeline momentum. Macro and Market Risks: Management acknowledged risks tied to global economic uncertainty, inventory normalization in residential channels, and potential volatility in the transport refrigeration market, indicating that scenario planning and cost control will remain central to execution. Julian Mitchell (Barclays): Asked if demand in Commercial HVAC was shifting among verticals, to which Dave Regnery responded that growth was broad-based, with data centers, healthcare, and education particularly strong this quarter. Chris Snyder (Morgan Stanley): Inquired about the risk of project slowdowns due to cost uncertainty; management replied that payback periods remain attractive and they have not seen widespread delays. Andy Kaplowitz (Citigroup): Questioned margin pressure in EMEA; Chris Kuehn explained it was due to timing of reinvestment and acquisition integration, with confidence in full-year margin recovery. Steve Tusa (JPMorgan): Sought clarification on tariff pass-through timing and its inclusion in guidance; management confirmed that pricing to offset tariffs is not yet included in revenue guidance, pending policy clarity. Nigel Coe (Wolfe Research): Probed whether recent residential outperformance reflected share gains from refrigerant transition; Dave Regnery cautioned against reading too much into one quarter but confirmed 100% of current shipments are new refrigerant units. In upcoming quarters, the StockStory team will monitor (1) the effectiveness of Trane's tariff pass-through strategies and any adjustments to revenue guidance as trade policy clarifies, (2) the ability of the Commercial HVAC pipeline and backlog to support sustained growth across major verticals, and (3) margin recovery in EMEA following recent reinvestment. Execution on channel inventory normalization in residential and continued innovation in refrigeration and services will also serve as important indicators of performance. Trane Technologies currently trades at a forward P/E ratio of 30.8×. Should you load up, cash out, or stay put? See for yourself in our free research report. Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 175% over the last five years. Stocks that made our list in 2019 include now familiar names such as Nvidia (+2,183% between December 2019 and December 2024) as well as under-the-radar businesses like Sterling Infrastructure (+1,096% five-year return). Find your next big winner with StockStory today.
Associated Press
30-04-2025
- Business
- Associated Press
Trane Technologies Reports Strong First Quarter Results; Reaffirms Guidance Range and Expects to Perform Towards High-End
SWORDS, Ireland--(BUSINESS WIRE)--Apr 30, 2025-- Trane Technologies plc (NYSE:TT), a global climate innovator, today reported diluted earnings per share (EPS) from continuing operations of $2.71 for the first quarter of 2025. Adjusted continuing EPS was $2.45, up 26 percent. First-Quarter 2025 Results Financial Comparisons - First-Quarter Continuing Operations 'In the first quarter, our global team delivered outstanding performance through our purpose-driven strategy, extending our consistent track record of results,' said Dave Regnery, chair and CEO of Trane Technologies. 'With strong execution through our proven business operating system, we continue to navigate a dynamic macro environment. Demand for our innovative solutions remains robust, with customers selecting Trane Technologies as their partner of choice. Our strong order growth in the first quarter included another all-time high in bookings for our Americas commercial HVAC business, further elevating our backlog. With our leading innovation, elevated backlog and strong financial position, we are confident in our full-year guidance and expect to perform towards the high-end of the range. We are well positioned to deliver differentiated shareholder value over the long term.' Highlights from the First Quarter of 2025 (all comparisons against first-quarter 2024 unless otherwise noted) First-Quarter Business Review (all comparisons against first-quarter 2024 unless otherwise noted) Americas Segment: innovates for customers in the North America and Latin America regions. The Americas segment encompasses commercial heating, cooling and ventilation systems, building controls and solutions, energy services and solutions, residential heating and cooling; and transport refrigeration systems and solutions. Europe, Middle East and Africa (EMEA) Segment: innovates for customers in the Europe, Middle East and Africa region. The EMEA segment encompasses heating, cooling and ventilation systems, services and solutions for commercial buildings and transport refrigeration systems and solutions. Asia Pacific Segment: innovates for customers throughout the Asia Pacific region. The Asia Pacific segment encompasses heating, cooling and ventilation systems, services and solutions for commercial buildings and transport refrigeration systems and solutions. Balance Sheet and Cash Flow Full-Year 2025 Guidance This news release includes 'forward-looking' statements within the meaning of securities laws, which are statements that are not historical facts, including statements that relate to our future financial performance and targets, including revenue, EPS, and earnings; our business operations; demand for our products and services, including bookings and backlog; capital deployment, including the amount and timing of our dividends, our share repurchase program, anticipated capital commitments for M&A activity, and our capital allocation strategy; our available liquidity; our anticipated revenue growth, and the performance of the markets in which we operate. These forward-looking statements are based on our current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from our current expectations. Such factors include, but are not limited to, global economic conditions, including recessions and economic downturns, inflation, volatility in interest rates and foreign exchange; trade protection measures such as import or export restrictions, tariffs, or quotas; changing energy prices; worldwide geopolitical conflict; financial institution disruptions; climate change and our sustainability strategies and goals; future health care emergencies on our business, our suppliers and our customers; commodity shortages; price increases; government regulation; restructurings activity and cost savings associated with such activity; secular trends toward decarbonization, energy efficiency and internal air quality, the outcome of any litigation, including the risks and uncertainties associated with the Chapter 11 proceedings for our deconsolidated subsidiaries Aldrich Pump LLC and Murray Boiler LLC; cybersecurity risks; and tax audits and tax law changes and interpretations. Additional factors that could cause such differences can be found in our Form 10-K for the year ended December 31, 2024, as well as our subsequent reports on Form 10-Q and other SEC filings. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events and how they may affect the Company. We assume no obligation to update these forward-looking statements. This news release also includes non-GAAP financial information, which should be considered supplemental to, not a substitute for, or superior to, the financial measure calculated in accordance with GAAP. The definitions of our non-GAAP financial information and reconciliation to GAAP are attached to this news release. All amounts reported within the earnings release above related to net earnings (loss), earnings (loss) from continuing operations, earnings (loss) from discontinued operations, adjusted EBITDA and per share amounts are attributed to Trane Technologies' ordinary shareholders. Trane Technologies (NYSE:TT) is a global climate innovator. Through our strategic brands Trane ® and Thermo King ®, and our portfolio of environmentally responsible products and services, we bring efficient and sustainable climate solutions to buildings, homes and transportation. For more information, visit # # # 4/30/2025 (See Accompanying Tables) *Q1 Non-GAAP measures definitions Adjusted operating income in 2025 is defined as GAAP operating income adjusted for merger and acquisition transaction costs and a non-cash adjustment for contingent consideration. Adjusted operating income in 2024 is defined as GAAP operating income adjusted for restructuring costs and legacy legal liability. Please refer to the reconciliation of GAAP to non-GAAP measures on tables 2, 3 and 4 of the news release. Adjusted operating margin is defined as the ratio of adjusted operating income divided by net revenues. Adjusted earnings from continuing operations attributable to Trane Technologies plc (Adjusted net earnings) in 2025 is defined as GAAP earnings from continuing operations attributable to Trane Technologies plc adjusted for net of tax impacts of merger and acquisition transaction costs and a non-cash adjustment for contingent consideration. Adjusted net earnings in 2024 is defined as GAAP earnings from continuing operations attributable to Trane Technologies plc adjusted for net of tax impacts of restructuring costs and legacy legal liability. Please refer to the reconciliation of GAAP to non-GAAP measures on tables 2 and 3 of the news release. Adjusted continuing EPS in 2025 is defined as GAAP continuing operations attributable to Trane Technologies plc adjusted for net of tax impacts of merger and acquisition transaction costs and a non-cash adjustment for contingent consideration. Adjusted continuing EPS in 2024 is defined as GAAP continuing operations attributable to Trane Technologies plc adjusted for net of tax impacts of restructuring costs and legacy legal liability. Please refer to the reconciliation of GAAP to non-GAAP measures on tables 2 and 3 of the news release. Adjusted EBITDA in 2025 is defined as adjusted operating income adjusted to exclude depreciation and amortization expense and include other income / (expense), net. Adjusted EBITDA in 2024 is defined as adjusted operating income adjusted to exclude depreciation and amortization expense and include other income / (expense), net. Other income / (expense), net mainly comprises interest income, foreign currency exchange gains and losses and certain components pension and postretirement benefit costs. Please refer to the reconciliation of GAAP to non-GAAP measures on tables 4 and 5 of the news release. Adjusted EBITDA margin is defined as the ratio of adjusted EBITDA divided by net revenues. Adjusted effective tax rate for 2025 is defined as the ratio of income tax expense adjusted for the net tax effect of adjustments for merger and acquisition transaction costs divided by adjusted net earnings. Adjusted effective tax rate for 2024 is defined as the ratio of income tax expense adjusted for the net tax effect of adjustments for restructuring costs and legacy legal liability divided by adjusted net earnings. This measure allows for a direct comparison of the effective tax rate between periods. Free cash flow in 2025 is defined as net cash provided by (used in) continuing operating activities adjusted for capital expenditures, cash payments for restructuring costs, legacy legal liability, and merger and acquisition transaction costs. Free cash flow in 2024 is defined as net cash provided by (used in) continuing operating activities adjusted for capital expenditures, cash payments for restructuring costs, legacy legal liability, and merger and acquisition transaction costs. Please refer to the free cash flow reconciliation on table 8 of the news release. Operating leverage is defined as the ratio of the change in adjusted operating income for the current period (e.g. Q1 2025) less the prior period (e.g. Q1 2024), divided by the change in net revenues for the current period less the prior period. Organic revenue is defined as GAAP net revenues adjusted for the impact of currency and acquisitions. Organic bookings is defined as reported orders in the current period adjusted for the impact of currency and acquisitions. Working capital measures a firm's operating liquidity position and its overall effectiveness in managing the enterprise's current accounts. The Company reports its financial results in accordance with generally accepted accounting principles in the United States (GAAP). The following schedules provide non-GAAP financial information and a quantitative reconciliation of the difference between the non-GAAP financial measures and the financial measures calculated and reported in accordance with GAAP. The non-GAAP financial measures should be considered supplemental to, not a substitute for or superior to, financial measures calculated in accordance with GAAP. They have limitations in that they do not reflect all of the costs associated with the operations of our businesses as determined in accordance with GAAP. In addition, these measures may not be comparable to non-GAAP financial measures reported by other companies. We believe the non-GAAP financial information provides important supplemental information to both management and investors regarding financial and business trends used in assessing our financial condition and results of operations. Non-GAAP financial measures assist investors with analyzing our business results as well as with predicting future performance. In addition, these non-GAAP financial measures are also reviewed by management in order to evaluate the financial performance of each segment. Presentation of these non-GAAP financial measures helps investors and management to assess the operating performance of the Company. As a result, one should not consider these measures in isolation or as a substitute for our results reported under GAAP. We compensate for these limitations by analyzing results on a GAAP basis as well as a non-GAAP basis, prominently disclosing GAAP results and providing reconciliations from GAAP results to non-GAAP results. View source version on CONTACT: Media: Travis Bullard 919-802-2593 [email protected]: Zac Nagle 704-990-3913 [email protected] KEYWORD: EUROPE IRELAND UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: ENGINEERING HVAC RESIDENTIAL BUILDING & REAL ESTATE MANUFACTURING COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY BUILDING SYSTEMS SOURCE: Trane Technologies Copyright Business Wire 2025. PUB: 04/30/2025 06:30 AM/DISC: 04/30/2025 06:29 AM
