Skip to Content
Morningstar
Get 14 Days Free

Trane Technologies PLC Class A TT

Morningstar Rating
Rating as of

Morningstar’s Analysis

Valuation
Currency in USD
Is it the right time to buy or sell?
Find out with Morningstar Premium
Is it the right time to buy or sell?
Find out with Morningstar Premium

1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Trane Technologies Reports Great Q2 Results as Robust Demand Persists

Analyst Note

| Brian Bernard, CFA, CPA |

Trane Technologies enjoyed a strong second-quarter performance, which featured 22% top line growth (18% organic) and a 51% increase in adjusted EPS from continuing operations (to $1.92). While Trane had an easy prior-year comparison due to the pandemic (second-quarter 2020 sales were down 13% year over year), the firm's results topped prepandemic levels. Compared with second-quarter 2019, revenue and adjusted EPS were 6% and 12% higher, respectively.

Read Full Analysis

Company Profile

Business Description

Trane Technologies manufactures and services commercial and residential HVAC systems and transportation refrigeration solutions under its prominent Trane, American Standard, and Thermo King brands. The $12.5 billion company generates approximately 70% of sales from equipment and 30% from parts and services. While the firm is domiciled in Ireland, North America accounts for over 70% of its revenue.

Contact
170/175 Lakeview Drive, Airside Business Park
Dublin, Ireland
T +353 18707400
Sector Industrials
Industry Specialty Industrial Machinery
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type —
Employees 35,000

Related

Stock Strategist Industry Reports
Will Vaccine Transport Boost the Industrial Cold-Chain Opportunity?
The market is warm to the idea, but we don't see a meaningful long-term impact for companies in this space.
Joshua Aguilar
Market Update
The Winners of the New Definition of Infrastructure
Depending on which broader infrastructure projects take shape, numerous companies could see increased demand.
David Sekera
Quarter-End Insights
Outside of Aerospace and Defense, Few Undervalued Industrials Stocks
Incoming administration could be a boon for infrastructure spending.
Brian Bernard
Market Update
3 Big Policy Areas That Election Outcomes Would Sway
We examine the major contrasts between the two administrations when it comes to tax policy, international relations, and infrastructure and how companies would fare.
David Sekera
Stock Strategist
This Stock's Price Is Absurd
Wesco is trading almost 50% below our fair value estimate.
Brian Bernard
Stock Strategist Industry Reports
4 Attractive Diversified Industrials Stocks
Plus, five takeaways from this year's Electrical Products Group Conference.
Keith Schoonmaker
Our Picks
5 Stocks Buffett Might Buy, if He Could
The Oracle of Omaha might take an interest in these high-quality firms if Berkshire were nimble enough.
Karen Wallace
Stock Strategist
Can a Power-Less Johnson Controls Unlock Shareholder Value?
The company is looking at strategic alternatives for its power solutions segment.
Brian Bernard
Quarter-End Insights
Industrials: Pockets of Uncertainty Present a Few Opportunities
Industrials are the second-most-expensive sector we cover, but these picks can reward investors.
Eric Anfinson
Stock Strategist
A Look at the New Johnson Controls
Exiting autos is a dramatic transformation, but the moat looks safe.
David Whiston
Quarter-End Insights
Our Outlook for Industrials Stocks
Most industrials are fairly valued at present, with a pocket of value in automakers.
Keith Schoonmaker
Credit Insights
Markets Roiled by Fed's Threat to Take Away the Punch Bowl
Corporate bonds suffered a double whammy as interest rates rose and credit spreads widened.
David Sekera
Berkshire Coverage
How We Value Berkshire Hathaway
Alternative methods have some use, but we think discounted cash flow is the most fundamentally sound way to value the conglomerate, as we discuss in the final installment of our 5-part series.
Greggory Warren
Quarter-End Insights
Our Outlook for Industrials Stocks
Recent U.S. economic data bodes well for industrial companies' near-term fortunes.
James Krapfel
Investing Specialists
Heavier Trading Activity Continues at Berkshire
Sales of legacy stock holdings continue to highlight the changing of the guard at Berkshire.
The Morningstar Ultimate Stock-Pickers Team
Market Update
Berkshire Sells More Legacy Holdings in 3Q
Trading activity picks up with Buffett's two lieutenants, Ted Weschler and Todd Combs.
Greggory Warren
Investing Specialists
Buffett's Lieutenants Continue to Impact Berkshire's Portfolio
Sales of legacy stock holdings highlight the changing of the guard at Berkshire.
The Morningstar Ultimate Stock-Pickers Team
Investing Specialists
Berkshire Puts Money Back to Work in Equities
With Buffett's lieutenants hitting the ground running, will a more collaborative process among Berkshire's newest investment managers prompt a rethinking of long-standing holdings?
The Morningstar Ultimate Stock-Pickers Team
Market Update
Berkshire's Latest Buys
Berkshire's buys More Wells Fargo and Wal-Mart; new money purchases include General Motors and Viacom.
Greggory Warren
Credit Insights
European Sovereign Debt Crisis Approaching an Apex
The longer-term trend for the corporate bond markets will depend on this week's European summit.
David Sekera