Earnings Releases·Oct 29, 2026, 6:40 AM ET

Trane Technologies — Third Quarter 2026 Earnings Summary

Q3 2026 net revenues rose 18% year-over-year to $6.76 billion, while GAAP continuing EPS and adjusted continuing EPS both increased 25% to $4.79 and $4.86, respectively.
Full-year 2026 revenue guidance was raised to approximately 13.5% growth, with adjusted continuing EPS guidance reaffirmed at $15.20 to $15.30.
Total backlog surged 73% year-over-year to $12.5 billion, driven by a 20% increase in organic bookings and a 107% book-to-bill ratio across all segments.
Year-to-date free cash flow increased approximately 60% to $2.828 billion, and management deployed $3.4 billion in capital through October, including $1.4 billion for share repurchases and $1.08 billion for M&A.