TT

Trane TechnologiesNYSE · Building Products · Industrials

Previous close

410.00

Change

−21.10 / −4.89%

FinDog View

Bullish

52-Week Range ?

348.06 – 505.87

P/E (TTM) ?

32.2

Forward P/E ?

25.9

Based on consensus earnings for the next 12 months

Market Cap

$91.4B

−9.29%

S&P 500 −0.91% over same period

Volume / Avg Volume

2.2M / 1.5M

1.48× average

Latest earnings analysisFY2026 Q2Reported 2026-07-30

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.

Read the full analysis →

Revenue$6.35BYoY +10.60%

EPS (non-GAAP)$4.31Missest. $4.39

Next-day move+3.33%

Price History

Closing price · USD1M 6M 1Y 5Y

Historical P/E

Close ÷ trailing four-quarter EPS · Period median 35.01M 6M 1Y 5Y

Recent Earnings

Click to read the FinDog analysis

Period	Reported	Revenue	EPS Actual / Est.	Next-Day Move	Analysis
FY2026 Q2 Quarter ended 2026-06	2026-07-30	$6.4B	4.31 / 4.39	+3.33%	Read analysis →
FY2026 Q1 Quarter ended 2026-03	2026-04-30	$5.0B	2.63 / 2.61	−1.23%	Pending
FY2025 Q4 Quarter ended 2025-12	2026-01-29	$21.3B	2.86 / 2.90	−1.29%	Pending
FY2025 Q3 Quarter ended 2025-09	2025-10-30	$5.7B	3.88 / 3.89	+0.51%	Pending
FY2025 Q2 Quarter ended 2025-06	2025-07-30	$5.7B	3.88 / —	+1.54%	Pending
FY2025 Q1 Quarter ended 2025-03	2025-04-30	$4.7B	2.45 / —	+2.43%	Pending

Next Earnings

Date and consensus from the earnings calendar; the analysis is generated automatically after the releaseEarnings Calendar →

Report date

2027-01-25

in 85 days · After hours

Consensus EPS

$3.73

Last quarter EPS $4.31

Avg. next-day move over the last 6 reports

±1.7%

Decision Panel

Trends · Valuation · Earnings reaction · Guidance credibility — all from company filings and market data

Valuation

P/E is at percentile 30 of its 5-year rangeCheap

5-year range 25.3 – 38.4 · Median 34.2

Last 4 quarters: $1.6B in buybacks + $902M in dividends, 2.70% of market cap combined

P/E (TTM)

32.2

P/B

11.0

P/S

4.3

Dividend Yield

1.31%

Earnings Reaction

Over the last 6 reports, the stock moved ±1.7% on average on the first trading day after, rising 4 times

Most recent +3.33%

Insider Trading

View all →

Last 90 days · Open-market buys and sells by officers and directors · Amounts in USD millions

Buy 0 · $0.00MSell 3 · $43.9MNet selling $43.9M

10-06Regnery David SChair and CEOSell$23.1M48,091 shares · Avg price 480.00
08-05Regnery David SChair and CEOSell$20.8M43,778 shares · Avg price 475.00
08-04Schaeffer Melissa N.DirectorSell$0.07M145 shares · Avg price 472.27

Multi-Quarter Financial Trends

View all quarters →

Last 12 quarters · As reported by the company

Quarter	Revenue ($B)	YoY	Gross Margin	Operating Income ($B)	Net Income ($B)	Free Cash Flow ($B)	EPS
FY2026 Q3	6.76	+17.7%	35.3%	1.34	1.05	1.21	4.74
FY2026 Q2	6.35	+10.6%	35.6%	1.22	0.93	1.01	4.16
FY2026 Q1	4.97	+6.0%	34.8%	0.78	0.58	0.55	2.62
FY2025 Q4	5.14	+5.5%	—	0.82	0.59	1.16	2.64
FY2025 Q3	5.74	+5.5%	36.9%	1.17	0.85	0.94	3.78
FY2025 Q2	5.75	+8.3%	37.6%	1.16	0.87	0.60	3.89
FY2025 Q1	4.69	+11.2%	35.8%	0.82	0.60	0.22	2.67
FY2024 Q4	4.87	+10.2%	—	0.81	0.60	0.77	2.65
FY2024 Q3	5.44	+11.4%	36.3%	1.02	0.77	1.21	3.39
FY2024 Q2	5.31	+12.8%	36.5%	1.03	0.76	0.62	3.30
FY2024 Q1	4.22	+15.0%	34.6%	0.63	0.44	0.16	1.90
FY2023 Q4	4.42	+8.6%	—	0.69	0.50	0.85	2.17

Peers

Largest by market cap in the sector · Latest quarterView Industrials sector →

Ticker	Company	Market Cap	P/E	Revenue YoY	Gross Margin	1M	View
TT	Trane Technologies	$91.4B	32.2	+17.7%	35.3%	−9.29%	Bullish
SPCX	SpaceX	$1.85T	—	+161.4%	62.4%	−10.70%	Bullish	Compare
CAT	Caterpillar Inc.	$288B	26.8	+24.0%	37.8%	−23.19%	Bullish	Compare
GE	GE Aerospace	$313B	35.1	+15.9%	—	−3.36%	Bullish	Compare
RTX	RTX Corporation	$271B	32.0	+11.1%	—	+7.62%	Bullish	Compare
GEV	GE Vernova	$227B	22.8	+26.8%	24.6%	−9.74%	Bullish	Compare
UNP	Union Pacific Corporation	$181B	23.6	+15.3%	—	+11.71%	Bullish	Compare
DE	Deere & Company	$182B	36.7	+4.9%	—	+0.59%	Bullish	Compare
ETN	Eaton Corporation	$144B	38.6	+21.4%	33.5%	−13.90%	Bullish	Compare

The View in One Line

Orders +39%, backlog $12.1B, Americas commercial HVAC orders +50%, guidance raised. Bullish on demand; gross margin down 2pts, watch.

Updated 2026-10-30

View History

09-17Neutral → Bullish
Orders +39%, backlog $12.1B, Americas commercial HVAC orders +50%, guidance raised: strong demand supports bullish, though gross margin fell 2pt.

Notable Institutional Holders

Citadel Advisors · Ken Griffin$306MAdded +44%
Renaissance Technologies$19.2MReduced −80%
Bridgewater Associates · Ray Dalio$2.5M

As of 2026-06-30

ETFs holding it

XLI Industrial Select Sector SPDR Fund1.70%
JEPI JPMorgan Equity Premium Income ETF1.31%
QUAL iShares MSCI USA Quality Factor ETF0.70%
SCHG Schwab U.S. Large-Cap Growth ETF0.36%
VTV Vanguard Value ETF0.32%
RSP Invesco S&P 500 Equal Weight ETF0.17%
VOO Vanguard S&P 500 ETF0.14%
IVV iShares Core S&P 500 ETF0.14%

Weights estimated at latest prices

Key Events

07-22Management Change
Supply Chain Executive Gary Guo to Depart August 1
Trane Technologies senior vice president and global integrated supply chain officer Gary Guo will depart on August 1, 2026, and the company has waived recovery of a portion of his signing bonus.Source ↗
06-10Management Change
Trane Technologies Appoints Simmons Executive Vice President and Chief Operating Officer
On June 4, 2026, the Trane Technologies board appointed Donald E. Simmons as Executive Vice President and Chief Operating Officer effective July 1, with a base salary of $950,000.Source ↗
06-05Governance
Trane Technologies Annual Meeting Passes All Six Proposals
At the June 4, 2026 annual meeting, shareholders elected 11 directors, approved executive compensation, ratified PricewaterhouseCoopers as auditor, and authorized the board to issue shares and set the price range for treasury stock placements.Source ↗
04-24Capital Actions
Trane Technologies Signs New $1.5 Billion Revolving Credit Agreement
On April 23, 2026, Trane Technologies entered into a $1.5 billion senior unsecured revolving credit agreement maturing in 2031, replacing its prior $1 billion agreement.Source ↗

Key Financial Trends

Quarterly Revenue ($B)6.8

Gross Margin35.3%

Free Cash Flow ($B)1.2