Trane Technologies Q2 2026: revenue up 11%, EPS just short
Trane Technologies grew revenue 11% to $6.35 billion but adjusted EPS of $4.31 landed below the $4.3922 consensus, and margins slipped. The quarter's real story is demand: bookings rose 39% and backlog hit a record $12.1 billion. Read the income statement and the order book as two clocks — one measures today's profit, the other tomorrow's.
1 · Expected vs. Actual
Free preview belowAdjusted continuing EPS of $4.31 was up 11% year over year but came in below the $4.3922 consensus, a shortfall of about 1.9%. GAAP continuing EPS was $4.20, while reported net earnings per share of $4.16 includes a $0.04 loss from discontinued operations. Operating income grew only 5% while revenue grew 11%.
Revenue of $6.35 billion rose 11% from $5.75 billion a year earlier, with 9% of that organic. The Americas segment, at $5.27 billion, did the heavy lifting with 12% growth. But gross margin fell to 35.6% from 37.6%, so each extra dollar of sales carried a smaller profit than a year ago.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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