Trane Technologies Analysts Boost Their Forecasts Following Strong Earnings

Trane Technologies plc TT reported upbeat results for the first quarter on Wednesday.

The company reported first-quarter net revenue growth of 11% year-over-year to $4.69 billion, surpassing the consensus of $4.46 billion.

Bookings increased 4% Y/Y to $5.28 billion in the quarter. Enterprise reported an 11% Y/Y increase in both revenues and organic revenues. Adjusted EPS of $2.45 (+26% Y/Y) surpassed the street view of $2.20.

Trane Technologies has reaffirmed its FY25 adjusted EPS guidance range of $12.70-$12.90 vs. the consensus estimate of $12.74. The company raised its FY25 sales guidance to $21.33 billion-$21.52 billion from $21.13 billion-$21.33 billion earlier versus consensus estimate of $21.24 billion.

Dave Regnery, chair and CEO of Trane Technologies, said, "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."

Trane Technologies shares gained 2.8% to trade at $394.09 on Thursday.

Earn 7.2% — No Matter What the Fed Does

Markets expect rate cuts — but your earnings don’t have to suffer. Lock in 7.2% until 2028 from ten individual bonds.

These analysts made changes to their price targets on Trane Technologies following earnings announcement.

Baird analyst Timothy Wojs maintained Trane Technologies with a Neutral and raised the price target from $360 to $396.
Wells Fargo analyst Joseph O’Dea maintained the stock with an Underweight rating and raised the price target from $330 to $370.
JP Morgan analyst Stephen Tusa maintained Trane Technologies with a Neutral and raised the price target from $323 to $334.
RBC Capital analyst Deane Dray maintained the stock with a Sector Perform and raised the price target from $363 to $408.

Considering buying TT stock? Here’s what analysts think: