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Trane Technologies plc (symbol: TT) is a leading global producer in the climate control and transportation refrigeration industry. The company manufactures and services a wide variety of HVAC (Heating, Ventilation, and Air Conditioning) systems for both commercial and residential use. Under its prominent brands, including Trane, American Standard, and Thermo King, Trane Technologies offers solutions that ensure comfort, efficiency, and sustainability.
Headquartered in Ireland, Trane Technologies generates approximately $18 billion in annual revenue, with North America accounting for over 70% of its sales. About 70% of the company's revenue comes from equipment sales, while parts and services contribute the remaining 30%.
The company is at the forefront of innovation, particularly in leveraging artificial intelligence (AI) to enhance the efficiency and performance of its climate control systems. For instance, the Trane® Autonomous Control powered by BrainBox AI® uses AI to optimize HVAC systems automatically, requiring no additional hardware. This is just one example of how Trane Technologies is leading the way in developing smarter, more efficient technologies.
Trane Technologies is deeply committed to sustainability, aiming to reduce its carbon footprint and enhance the energy efficiency of its products. Recent initiatives include the development of advanced climate control systems that can measure and respond to various environmental indicators like humidity and air quality, thanks to sophisticated AI algorithms. This not only helps in maintaining indoor comfort but also supports the broader goal of environmental sustainability.
The company's innovative strategies extend to its partnerships and collaborations. Trane Technologies works with a range of industries to integrate its advanced climate solutions, thereby broadening its impact and market reach. They also invest in future technologies to ensure their products remain adaptable and relevant as the pace of technological advancement accelerates.
Financially, Trane Technologies remains robust, continuously investing in R&D to maintain its competitive edge. The company's strong engineering expertise and commitment to innovation position it well for sustained growth and profitability.
In summary, Trane Technologies plc is a major player in the HVAC and transportation refrigeration industry, known for its innovative, sustainable, and efficient climate control solutions. It continues to lead the market through its commitment to technological advancement and sustainability.
Trane Technologies (NYSE:TT) will participate in COP29 in Baku, Azerbaijan (Nov 11-22), focusing on decarbonizing built environment and transport sectors. The company joined other CEOs in signing an open letter to world leaders emphasizing net-zero emissions by 2050. Key initiatives include reducing embodied carbon by 40% by 2030 and the Gigaton Challenge to reduce customer greenhouse gas emissions by 1 billion metric tons. The company was recognized by InfluenceMap as a 2024 Corporate Climate Policy Engagement Leader in North America for its performance in building electrification and efficiency.
Trane Technologies (NYSE:TT) will participate in COP29 in Baku, Azerbaijan, focusing on decarbonization initiatives and climate policies. The company, as part of the World Economic Forum's Alliance of CEO Climate Leaders, signed an open letter urging enhanced collaboration for net-zero emissions by 2050. Trane Technologies will join discussions on building decarbonization, clean energy, and sustainable food supply chains. The company recently committed to reducing embodied carbon by 40% by 2030 and was recognized as a 2024 Corporate Climate Policy Engagement Leader in North America. Through its Gigaton Challenge, the company aims to reduce customer greenhouse gas emissions by 1 billion metric tons.
Trane Technologies (NYSE:TT) has been awarded the 2025 Military Friendly® Employer Gold Award in the 'Over 5 billion in Revenue' category for its commitment to the U.S. military community. The company supports veterans through two key programs: Trade Warriors, an 8-week HVAC training initiative that has placed over 200 veterans in jobs since 2021, and Combat to Controls, a controls technician training program launched in 2023.
Through collaboration with the U.S. Department of Defense's SkillBridge program, service members can complete both programs while maintaining military pay and benefits. The company offers veteran-focused benefits and allows job searches using Military Occupation Codes (MOC) to match military skills with available positions.
Trane Technologies emphasizes the importance of partnerships in achieving its sustainability goals and community impact. The company collaborates with organizations like the Business Council for Sustainable Energy and the World Business Council for Sustainable Development to advance climate action initiatives. In 2023, the company donated $18.8 million to philanthropic causes and its employees volunteered 92,517 hours, reaching 47% of their 2030 goal. A notable partnership with the Urban League of Central Carolinas supports HVAC technician training programs, combining financial support with hands-on expertise from company team members.
Trane Technologies (NYSE:TT) reported strong Q3 2024 results with revenues of $5.4 billion, up 11% year-over-year. The company achieved a GAAP operating margin increase of 110 bps and adjusted operating margin growth of 90 bps. Earnings per share (EPS) reached $3.43 GAAP and $3.37 adjusted, up 21%. Strong bookings of $5.2 billion were reported, up 5%, with backlog increasing to $7.2 billion from $6.9 billion at year-end 2023. Based on these results, the company raised its full-year 2024 guidance, expecting revenue growth of approximately 11% and adjusted EPS of $11.10.
Trane Technologies, a global climate innovator, proudly announces that Holly Paeper and Charlene Vance have been recognized as 2024 Women on the Rise by Paradigm for Parity®. This prestigious award honors outstanding women in corporate leadership who are advancing gender parity and promoting racial equity in the workforce.
Holly Paeper serves as the president of the Commercial HVAC business at Trane Technologies, while Charlene Vance is the Auxiliary Power Unit (APU) General Manager for Thermo King Americas. Both leaders have demonstrated exceptional commitment to innovation, diversity, and sustainability in their respective roles.
Trane Technologies has been a member of Paradigm for Parity® since 2017, focusing on addressing the gender gap in corporate leadership through its 2030 Sustainability Commitments.
Trading Technologies International (TT) has been recognized as one of the world's top risk and compliance technology providers in the Chartis RiskTech100® 2025 rankings. TT ranked as the fourth best new entrant among 22 firms debuting this year. This recognition follows TT's recent launch of TT Trade Surveillance, a multi-asset trade surveillance solution combining new multi-asset coverage and configurable models with machine learning-driven models from TT Score.
TT Trade Surveillance offers enhanced capabilities for futures, equities, equity options, fixed income, and foreign exchange (FX). It features a unique hybrid system combining out-of-the-box and user-configurable models, providing users with risk scores to reduce false positives and improve compliance staff efficiency. The system also introduces an innovative method for identifying cross-product manipulation across multiple order books.
Thermo King EMEA, part of Trane Technologies (TT), has fulfilled its pledge to provide fully electric, zero direct emission refrigeration solutions for every segment of the cold chain. The company partnered with Refrigerated Trailer Rentals Holland (RTR) to deploy the first Advancer-e unit and trial the AxlePower smart-energy generating system for fully electric trailer refrigeration.
Key outcomes include:
- Reduction of up to 10 metric tons of CO2e per Advancer-e unit per year
- Significant reduction of noise pollution
- Annual savings in maintenance and elimination of fuel purchasing
RTR became the first to adopt the Advancer-e unit in March 2023, with their client Dailycool being the first to benefit from the technology. Thermo King has successfully delivered on its 2021 commitment to provide fully electric solutions for every cold chain segment in the EMEA region by 2023.
Healthy Spaces Podcast features a special episode titled "Spilling the Tea on Sustainability" recorded live from the Tea Room of BG Restaurant during Climate Week NYC. Women leaders in sustainability, including representatives from the U.S. Department of Energy, PepsiCo, Trane Technologies, and more, discuss collaborative efforts toward a net-zero future.
Key topics include climate tech innovation, decarbonization, and regenerative agriculture. The episode highlights bold initiatives and partnerships aimed at reducing greenhouse gas emissions and modernizing the grid. The panelists share their personal journeys into sustainability, emphasizing the importance of industry-wide collaboration and corporate leadership in achieving climate goals.
Guests include Dominique Silva, Keishaa Austin, Roberta Barbieri, Heather Clark, Michelle Li, Ali Mize, Denise Naguib, Holly Paeper, and Carrie Ruddy. The episode is available on Apple Podcasts, Spotify, YouTube, and Amazon Music.
Trane Technologies plc (NYSE:TT), a global climate innovator, has announced its upcoming third quarter 2024 earnings conference call. The call is scheduled for Wednesday, October 30, 2024, at 10 a.m. ET. The company will release its earnings report and presentation prior to the call, making them available on the Trane Technologies website. A real-time, listen-only webcast of the conference call will be accessible through the company's website at www.tranetechnologies.com in the investor relations section. For those unable to attend the live event, a replay will be available on the company's website at approximately 1 p.m. ET on the same day.
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