Trane Technologies (TT) Q1 FY25 earnings call

Earnings call· Mar 2025 (Q1 FY25)· Industrials· Apr 30, 2025

Source: earnings call transcript

Trane Technologies delivered strong first-quarter results, driven by record Commercial HVAC orders and robust organic revenue growth across most segments. The company reiterated its full-year guidance, expecting to perform at the high end, despite ongoing challenges in China and a significant downturn in the Transport market. Management emphasized its ability to manage tariff impacts through mitigation and surgical pricing, while continuing strategic investments and capital returns.

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TT operating KPIs by quarter

TT operating KPIs stated on its earnings calls, by fiscal quarter
KPI	Dec 2024 Q4 FY24	This call Mar 2025 Q1 FY25	Dec 2025 Q4 FY25	Mar 2026 Q1 FY26	Jun 2026 Q2 FY26	Change vs prior quarter
Backlog	$6.75B This contributed to a highly elevated backlog of $6.75 billion entering 2025. Source: earnings call transcript	—	$7.8B We delivered strong fourth quarter performance, highlighted by exceptional enterprise organic bookings up 22%, driving record backlog of $7.8 billion. Source: earnings call transcript	$10.7B Q1 was another strong quarter, marked by exceptional enterprise organic bookings, up 24% and a record backlog of $10.7 billion, up over 30% versus year-end 2025. Source: earnings call transcript	$12.1B Enterprise organic bookings were up 37%, driving record backlog of $12.1 billion, up 70% year-over-year. Source: earnings call transcript	+13.1%
Manufacturing plants United States	20+ We have over 20 plants in the United States. Source: earnings call transcript	~20 We have about 20 plants in the United States. Source: earnings call transcript	—	21+ So look, we have -- as Chris said, we have over 21 plants now in the United States, for real shortly like that, and we are very, very competitive, as you could see with our results. Source: earnings call transcript	—	—

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.