Trane Technologies (TT) Tops Q2 EPS by 12c; Raises Outlook
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Trane Technologies Reports Strong Results and Raises 2023 Revenue and EPS Guidance
August 2, 2023 6:00 AM EDTHighlights (second-quarter 2023 versus second-quarter 2022, unless otherwise noted):
Reported revenues of $4.7 billion, up 12 percent; organic revenues* up 11 percent GAAP operating margin up 180 bps; adjusted operating margin* up 110 bps Adjusted EBITDA margin* of 19.7 percent, up 100 bps GAAP continuing EPS of $2.57; adjusted continuing EPS* of $2.68, up 24 percent $7 billion backlog, up 7 percent, and 2.5 times historical norms*This news release contains non-GAAP financial measures. Definitions of the non-GAAP financial measures can be found in the footnotes of this news release. See attached tables for additional details and... More
