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Trane Technologies TT Q1 2026 earnings

Reported April 30, 2026 · Before market open

Revenue$5.0BBeat by $154.5M
EPS$2.63Beat by $0.10
Revenue estimate$4.8B
EPS estimate$2.53
“We are off to a strong start in 2026, with exceptional demand for our sustainable products and services, Enterprise bookings grew 24 percent, led by nearly 40 percent growth in our Americas Commercial HVAC business. We closed the quarter with a record $10.7 billion backlog, up more than 30 percent from year-end, giving us strong visibility for 2026 and beyond.
Dave Regnery

Next report

Oct 29, 2026 (In 3 weeks)
Revenue estimate$6.5B
EPS estimate$4.74

Financials

Q1 2026

Income statement

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Revenue$5.0B+6.0%
Gross profit$1.7B+3.0%
Operating income$776.1M-5.2%
Net income$584.4M-3.4%
EPS (diluted)$2.62-1.9%

Balance sheet

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Total debt$3.9B-17.8%
Total equity$8.6B+14.7%
Total assets$22.8B+13.1%

Cash flow

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Operating cash flow$626.2M+84.4%
CapEx$79.7M-33.0%
Free cash flow$546.5M+148%

Valuation & ratios

Valuation

as of 03/31/26
See full
Market cap$92.24B+22.1%
Enterprise value$96.16B+19.7%
P/E31.8×+4.2×
P/S4.3×+0.5×

Profitability

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Operating margin18.2%0.0pp
Net margin13.4%-0.1pp
FCF margin14.5%+0.6pp

Returns & leverage

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Return on equity36%-2.0pp
Debt / equity0.5×-0.2×
Current ratio1.1×0.0×

Segments

By geography

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Americas$4.0B+5.2%
EMEA$639.5M+11.5%
Asia Pacific$331.5M+5.5%

By product

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Service$1.7B+13.9%

FAQ

When did Trane Technologies report Q1 2026 earnings?
Trane Technologies (TT) reported Q1 2026 earnings on April 30, 2026 before market open.
What were Trane Technologies's Q1 2026 revenue and EPS?
Trane Technologies reported revenue of $5.0B and eps of $2.63 for Q1 2026.
Did Trane Technologies beat estimates in Q1 2026?
Revenue beat the consensus estimate of $4.8B by $154.5M. EPS beat the consensus estimate of $2.53 by $0.10.
How did Trane Technologies's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 6.0% from $4.7B a year earlier and eps grew 7.3% from $2.45.
Where can I find Trane Technologies's Q1 2026 SEC filings?
You can read the 8-K earnings release (0001628280-26-028547) and the 10-Q periodic report (0001628280-26-028743) directly on SEC EDGAR. The filing index links above go to sec.gov.