Trane Technologies, a global climate innovator, has released its first-quarter 2025 results, showcasing strong performance across various metrics. Strong Enterprise Bookings
The company reported strong enterprise bookings of $5.3 billion, a 4% increase from the same period last year. This represents another all-time high in bookings for the Americas commercial HVAC business, further elevating the company’s enterprise backlog. The book-to-bill ratio was 113%, indicating a robust demand for Trane Technologies’ innovative solutions.
Trane Technologies’ strong enterprise bookings and high book-to-bill ratio demonstrate the company’s ability to deliver value to its customers and drive growth in the market.
Trane Technologies’ strong enterprise bookings and high book-to-bill ratio demonstrate the company’s ability to deliver value to its customers and drive growth in the market.
Trane Technologies’ strong enterprise bookings and high book-to-bill ratio demonstrate the company’s ability to deliver value to its customers and drive growth in the market.
Trane Technologies’ strong enterprise bookings and high book-to-bill ratio demonstrate the company’s ability to deliver value to its customers and drive growth in the market.
Financial Highlights
* Reported revenues of $4.7 billion, up 11% year-over-year
* Organic revenues up 11%
* GAAP continuing EPS of $2.71
* Adjusted continuing EPS of $2.45, up 26% year-over-year
* Enterprise backlog of $7.3 billion, up approximately $500 million versus year-end 2024
Americas Segment Performance
* Innovates for customers in the North America and Latin America regions
* 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
* Strong bookings of $4.2 billion, up 5% year-over-year
* Book-to-bill of 111%
* Organic bookings up 13%
* Bookings strength led by Americas Commercial HVAC, with a book-to-bill of 115%
Europe, Middle East and Africa Segment Performance
* Innovates for customers in the Europe, Middle East and Africa region
* EMEA segment encompasses heating, cooling and ventilation systems, services and solutions for commercial buildings and transport refrigeration systems and solutions
* Strong bookings of $720.7 million, up 9% year-over-year
* Book-to-bill of 130%
* Organic bookings up 13%
* Bookings strength led by Commercial HVAC, with a book-to-bill of 130%
Asia Pacific Segment Performance
* Innovates for customers throughout the Asia Pacific region
* Asia Pacific segment encompasses heating, cooling and ventilation systems, services and solutions for commercial buildings and transport refrigeration systems and solutions
* Bookings down 14% year-over-year
* Organic bookings down 13% year-over-year
* Book-to-bill of 108%
* Organic bookings up 13%
Balance Sheet and Cash Flow
* Cash from continuing operating activities was $346 million
* Free cash flow was $230 million
* Cash balance March 31 was $861 million
* Debt balance March 31 was $4,771 million
Full-Year 2025 Guidance
* Reported revenue growth of approximately 7.5% to 8.5% year-over-year
* Organic revenue growth of approximately 7% to 8% year-over-year
* GAAP continuing EPS for full-year 2025 of approximately $12.95 to $13.15
* Adjusted continuing EPS for full-year 2025 of $12.70 to $12.90
Definitions of Non-GAAP Financial Measures
* Adjusted operating income: GAAP operating income adjusted for merger and acquisition transaction costs and a non-cash adjustment for contingent consideration
* Adjusted operating margin: the ratio of adjusted operating income divided by net revenues
* Adjusted EBITDA: adjusted operating income adjusted to exclude depreciation and amortization expense and include other income (expense), net
* Adjusted EBITDA margin: the ratio of adjusted EBITDA divided by net revenues
* Adjusted effective tax rate: 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
* Free cash flow: 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
Non-GAAP Financial Measures Reconciliation
* Reconciliation of GAAP to non-GAAP measures is provided in the attached tables
View Source Version
* View source version on businesswire.com
Contact
* Media:
* Travis Bullard
* 919-802-2593
* Media@tranetechnologies.com
Trane Technologies Reports Strong First-Quarter 2025 Results
Trane Technologies, a global climate innovator, has released its first-quarter 2025 results, showcasing strong performance across various metrics. Trane Technologies reported strong enterprise bookings of $5.3 billion, a 4% increase from the same period last year. This represents another all-time high in bookings for the Americas commercial HVAC business, further elevating the company’s enterprise backlog. The book-to-bill ratio was 113%, indicating a robust demand for Trane Technologies’ innovative solutions. The company also reported strong revenue growth, with reported revenues of $4.7 billion, up 11% year-over-year, and organic revenues up 11%. GAAP continuing EPS was $2.71, while adjusted continuing EPS was $2.45, up 26% year-over-year. In terms of segment performance, the Americas segment reported strong bookings of $4.2 billion, up 5% year-over-year, with a book-to-bill of 111%. The Europe, Middle East and Africa segment also reported strong bookings of $720.7 million, up 9% year-over-year, with a book-to-bill of 130%. The Asia Pacific segment, however, reported bookings down 14% year-over-year, with organic bookings down 13% year-over-year. The company’s balance sheet and cash flow also showed strong performance, with cash from continuing operating activities of $346 million and free cash flow of $230 million. The cash balance March 31 was $861 million, while the debt balance March 31 was $4,771 million. In terms of full-year guidance, the company expects reported revenue growth of approximately 7.5% to 8.5% year-over-year, with organic revenue growth of approximately 7% to 8% year-over-year. GAAP continuing EPS for full-year 2025 is expected to be approximately $12.95 to $13.15, while adjusted continuing EPS is expected to be $12.70 to $12.90. The company’s non-GAAP financial measures, including adjusted operating income, adjusted operating margin, adjusted EBITDA, and adjusted EBITDA margin, are also expected to be within certain ranges. The adjusted effective tax rate is also expected to be within a certain range. Overall, Trane Technologies’ strong first-quarter 2025 results demonstrate the company’s ability to deliver value to its customers and drive growth in the market. The company’s strong performance across various metrics, including enterprise bookings, revenue growth, and segment performance, positions it well for a successful full-year 2025. The company’s commitment to innovation and customer satisfaction is evident in its strong bookings and revenue growth. The company’s ability to deliver value to its customers and drive growth in the market is a testament to its strong brand and reputation. In conclusion, Trane Technologies’ strong first-quarter 2025 results demonstrate the company’s ability to deliver value to its customers and drive growth in the market. The company’s strong performance across various metrics, including enterprise bookings, revenue growth, and segment performance, positions it well for a successful full-year 2025. The company’s non-GAAP financial measures, including adjusted operating income, adjusted operating margin, adjusted EBITDA, and adjusted EBITDA margin, are also expected to be within certain ranges. The adjusted effective tax rate is also expected to be within a certain range. Overall, Trane Technologies’ strong first-quarter 2025 results demonstrate the company’s ability to deliver value to its customers and drive growth in the market. The company’s strong performance across various metrics, including enterprise bookings, revenue growth, and segment performance, positions it well for a successful full-year 2025.