Trane Technologies Registers 18% Revenue Growth In Q3 Aided By Growth In Americas; Boosts FY22 Outlook - Trane Technologies (NYSE:TT)

Trane Technologies PLC (NYSE: TT) reported third-quarter FY22 revenue growth of 18% year-over-year to $4.37 billion and +19% on an organic basis, beating the consensus of $4.16 billion.
Bookings increased by 6% Y/Y to $4.49 billion and were up 8% organically.
Adjusted continuing EPS of $2.27 beat the consensus of $2.11.
The adjusted operating margin expanded by 60 bps to 16.7%, and the adjusted EBITDA margin expanded by 50 bps to 18.5%.
Net revenue from the Americas was $3.48 billion (+20% Y/Y), EMEA was $513.1 million (+4% Y/Y), and Asia Pacific was $377.4 million (+20% Y/Y).
The backlog of $6.4 billion was up 28% Y/Y.
Through September 30, 2022, TT had cash flow from continuing operating activities of $933 million and generated free cash flow of $891 million.
The company held $1.08 billion in cash and equivalents.
FY22 Outlook: Trane Technologies raised FY22 revenue growth to 11%-12% from the prior view of 11% growth.
It raised the organic revenue growth to 13%-14% from the previous 12%.
It raised the adjusted continuing EPS outlook to $7.15 - $7.20 from the prior $7.05 - $7.15, above the consensus of $7.11.
Price Action: TT shares traded higher by 3.39% at $165.21 on the last check Wednesday.
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