Trane TechnologiesTTEarnings & Financial Report
Trane Technologies plc is an Irish domiciled company focused on heating, ventilation, and air conditioning (HVAC) and refrigeration systems. The company traces its corporate history back more than 150 years and was created after a series of mergers and spin-offs. In 2008, HVAC manufacturer Trane was acquired by Ingersoll Rand, a US industrial tools manufacturer. In 2020, the tools business was spun off as Ingersoll Rand and the remaining company was renamed Trane Technologies.
Revenue
$5.7B
Gross Profit
$2.2B
Operating Profit
$1.2B
Net Profit
$874.8M
Gross Margin
37.6%
Operating Margin
20.3%
Net Margin
15.2%
YoY Growth
8.3%
EPS
$3.89
Trane Technologies Q2 FY2025 Financial Summary
Trane Technologies reported revenue of $5.7B (up 8.3% YoY) for Q2 FY2025, with a net profit of $874.8M (up 15.8% YoY) (15.2% margin). Cost of goods sold was $3.6B, operating expenses totaled $996.4M.
Key Financial Metrics
| Total Revenue | $5.7B |
|---|---|
| Net Profit | $874.8M |
| Gross Margin | 37.6% |
| Operating Margin | 20.3% |
| Report Period | Q2 FY2025 |
Revenue Breakdown
Trane Technologies Q2 FY2025 revenue of $5.7B breaks down across 3 segments, led by Products at $3.1B (54.4% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Products | $3.1B | 54.4% |
| Services | $1.6B | 27.3% |
| Other | $1.1B | 18.3% |
Trane Technologies Revenue by Segment — Quarterly Trend
Trane Technologies revenue by segment across the last 4 reported quarters, showing how each business line (such as Products and Services) has evolved quarter over quarter.
| Segment | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 |
|---|---|---|---|---|
| Products | — | — | $3.0B | $3.1B |
| Services | — | $2.8B | $1.7B | $1.6B |
| Other | — | $2.3B | $1.1B | $1.1B |
Trane Technologies Annual Revenue by Year
Trane Technologies annual revenue history includes year-by-year totals (for example, 2025 revenue was $21.3B).
| Year | Annual Revenue |
|---|---|
| 2025 | $21.3B |
| 2024 | $19.8B |
| 2023 | $17.7B |
| 2022 | $16.0B |
Trane Technologies Quarterly Revenue & Net Profit History
Trane Technologies results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $5.0B | +6.0% | $589.5M | 11.9% |
| Q4 FY2025 | $5.1B | +5.5% | $591.3M | 11.5% |
| Q3 FY2025 | $5.7B | +5.5% | $847.6M | 14.8% |
| Q2 FY2025 | $5.7B | +8.3% | $874.8M | 15.2% |
| Q1 FY2025 | $4.7B | +11.2% | $604.9M | 12.9% |
| Q4 FY2024 | $4.9B | +10.2% | $604.3M | 12.4% |
| Q3 FY2024 | $5.4B | +11.4% | $772.0M | 14.2% |
| Q2 FY2024 | $5.3B | +12.8% | $755.3M | 14.2% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $5.31B | $5.44B | $4.87B | $4.69B | $5.75B | $5.74B | $5.14B | $4.97B |
| YoY Growth | 12.8% | 11.4% | 10.2% | 11.2% | 8.3% | 5.5% | 5.5% | 6.0% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $20.20B | $20.90B | $20.15B | $20.12B | $20.99B | $21.37B | $21.42B | $22.75B |
| Liabilities | $13.23B | $13.29B | $12.66B | $12.60B | $13.14B | $13.03B | $12.82B | $14.14B |
| Equity | $6.95B | $7.59B | $7.46B | $7.49B | $7.83B | $8.33B | $8.58B | $8.61B |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|
| Operating CF | $695.9M | $1.30B | $899.9M | $339.5M | $692.1M | $1.00B | $1.16B |