Trane Technologies Q4 Profit Tops Estimates

(RTTNews) - Trane Technologies plc (TT), a provider of heating, ventilation, and air conditioning and refrigeration systems, Thursday reported net profit of $504.3 million or $2.19 per share for the fourth quarter, up from $439.1 million or $1.89 per share in the comparable quarter last year.

Net income from continuing operations rose to $513.3 million or $2.23 per share from $444.1 million or $1.91 per share a year ago.

Excluding one-off items, earnings from continuing operations were $2.17 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $2.13 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter increased to $4.424 billion from $4.074 billion in the previous year. The Street was expecting revenue of $4.43 billion.

For the full-year 2024, Trane expects adjusted EPS from continuing operations to be in the range of $10.00 to $10.30. Revenue is expected to grow 7 percent - 8 percent for the year.

Analysts on average expect the company to report profit of $10.06 per share on revenue growth of 5.8 percent for the year.