Latest news with #TraneTechnologies'
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
18-04-2025
- Business
- Associated Press
Trane Technologies Recognized for Environmental Leadership on CDP's 'A List'
SWORDS, Ireland, April 18, 2025 /3BL/ - Trane Technologies (NYSE:TT), a global climate innovator, has been recognized for its leadership in corporate transparency and performance on climate by CDP, earning a place on its annual 'A List' for the third consecutive year. Of the record 22,400 companies that received a climate score this year, Trane Technologies is distinguished as part of the 2% of scored companies to earn an 'A' rating. CDP's rigorous scoring process assesses the comprehensiveness of disclosure, awareness and management of environmental risks, and the demonstration of best practices in environmental leadership, including setting ambitious and meaningful targets. 'Achieving CDP's prestigious 'A List' recognition underscores Trane Technologies' climate leadership and our commitment to meaningful, transparent action for a more sustainable world,' said Mauro Atalla, Senior Vice President, Chief Technology and Sustainability Officer, Trane Technologies. 'Sustainability is at the center of our strategy and continued success. We are proud to lead by example, proving that climate accountability, customer innovation, an uplifting culture and a strong bottom line go hand in hand.' Inclusion on CDP's 'A List' is the latest in a series of accolades recognizing Trane Technologies for its industry-leading transparency, credibility and accountability. The company has also been ranked in the Top Ten of the 2025 JUST 100, named one of Fortune's World's Most Admired Companies for the 13th consecutive year and listed on the Corporate Knights' 2025 Global 100 as well as the Dow Jones Sustainability World and North American Indices. Trane Technologies is at the forefront of decarbonizing buildings, industry and the cold chain through pioneering actions and innovations. The company is making significant progress toward its 2030 Sustainability Commitments, including the Gigaton Challenge, and its pledge to be net-zero by 2050. It's also the first company in its industry to have its near and long-term emissions reductions targets externally validated by the Science Based Targets Initiative (SBTi). ### 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. For more on Trane Technologies, visit About CDPCDP is a global non-profit that runs the world's only independent environmental disclosure system. As the founder of environmental reporting, we believe in transparency and the power of data to drive change. Partnering with leaders in enterprise, capital, policy and science, we surface the information needed to enable Earth-positive decisions. We helped more than 24,800 companies and 1,100 cities, states and regions disclose their environmental impacts in 2024. Financial institutions with more than a quarter of the world's institutional assets use CDP data to help inform investment and lending decisions. Aligned with the ISSB's climate standard, IFRS S2, as its foundational baseline, CDP integrates best-practice reporting standards and frameworks in one place. Our team is truly global, united by our shared desire to build a world where people, planet and profit are truly balanced. Forward Looking StatementsThis 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 sustainability commitments and the anticipated impact of these commitments. 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.
