Trane Technologies plc Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Trane Technologies plc has submitted its quarterly 10-Q filing for the period ending March 31, 2024, detailing financial information and operational data.</b>

AI Summary

Trane Technologies plc (TT) filed a Quarterly Report (10-Q) with the SEC on April 30, 2024. Trane Technologies plc filed a 10-Q report for the quarterly period ended March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. The company's fiscal year ends on December 31. Trane Technologies plc was formerly known as Ingersoll-Rand plc, with a name change date of June 12, 2009. The filing includes financial data for the periods ending March 31, 2024, December 31, 2023, and March 31, 2023.

Why It Matters

For investors and stakeholders tracking Trane Technologies plc, this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and position of Trane Technologies plc for the first quarter of 2024. Understanding the details within this report is crucial for assessing the company's current financial health, operational trends, and potential future performance in the climate control and energy solutions market.

Risk Assessment

Risk Level: low — Trane Technologies plc shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report, indicating no immediate or unusual high-risk events are highlighted in the header information.

Analyst Insight

Review the detailed financial statements and segment information within the 10-Q to understand revenue trends, profitability, and balance sheet changes for Q1 2024.

Key Numbers

• 2024-03-31 — Period of Report (Quarterly period ended)
• 2024-04-30 — Filed As Of Date (Date the filing was submitted)
• 2024-01-01 — Quarter Start Date (Beginning of the reporting quarter)
• 2023-03-31 — Comparative Period End Date (End date of the prior year's comparable quarter)
• 0001466258 — Central Index Key (Company identifier)
• 3822 — SIC Code (Industry classification)

Key Players & Entities

• Trane Technologies plc (company) — Filer name
• Ingersoll-Rand plc (company) — Former company name
• 0001466258 (company) — Central Index Key
• 3822 (regulator) — Standard Industrial Classification
• 2024-03-31 (date) — Period of report
• 2024-04-30 (date) — Filed as of date
• 2024-01-01 (date) — Quarterly period start date
• 2023-03-31 (date) — Comparative period end date

FAQ

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-04-30: Filing Date — Date the 10-Q was officially submitted to the SEC.

Key Financial Figures

• $1.00 — registered Ordinary Shares, Par Value $1.00 per Share TT New York Stock Exchange 5

Filing Documents

• tt-20240331.htm (10-Q) — 1200KB
• tt-10qx03312024xex221xq1.htm (EX-22.1) — 9KB
• tt-10qx03312024xex311xq1.htm (EX-31.1) — 11KB
• tt-10qx03312024xex312xq1.htm (EX-31.2) — 11KB
• tt-10qx03312024xex32xq1.htm (EX-32) — 6KB
• 0001466258-24-000159.txt (&nbsp;) — 8092KB
• tt-20240331.xsd (EX-101.SCH) — 60KB
• tt-20240331_cal.xml (EX-101.CAL) — 79KB
• tt-20240331_def.xml (EX-101.DEF) — 541KB
• tt-20240331_lab.xml (EX-101.LAB) — 795KB
• tt-20240331_pre.xml (EX-101.PRE) — 689KB
• tt-20240331_htm.xml (XML) — 966KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION 1

- Financial Statements

Item 1 - Financial Statements 1 Condensed Consolidated Statements of Earnings for the three months ended M arch 31, 2024 and 202 3 1 Condensed Consolidated Statements of Comprehensive Income (Loss) for the three months ended March 31, 2024 and 2023 2 Condensed Consolidated Balance Sheets at Ma rch 31, 2024 and December 31, 202 3 3 Condensed Consolidated Statements of Equity for the three months ended March 31, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 5 Notes to Condensed Consolidated Financial Statements 6

- Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations 23

- Quantitative and Qualitative Disclosures about Market Risk

Item 3 - Quantitative and Qualitative Disclosures about Market Risk 37

- Controls and Procedures

Item 4 - Controls and Procedures 37

OTHER INFORMATION

PART II OTHER INFORMATION 38

- Legal Proceedings

Item 1 - Legal Proceedings 38

- Risk Factors

Item 1A - Risk Factors 38

- Unregistered Sales of Equity Securities and Use of Proceeds

Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds 38

- Other Information

Item 5 - Other Information 39

- Exhibits

Item 6 - Exhibits 40 39

SIGNATURES

SIGNATURES 41 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements TRANE TECHNOLOGIES PLC CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited) Three months ended March 31, In millions, except per share amounts 2024 2023 Net revenues $ 4,215.5 $ 3,665.8 Cost of goods sold ( 2,755.6 ) ( 2,522.3 ) Selling and administrative expenses ( 826.1 ) ( 686.7 ) Operating income 633.8 456.8 Interest expense ( 58.1 ) ( 57.6 ) Other income/(expense), net ( 25.0 ) ( 9.4 ) Earnings before income taxes 550.7 389.8 Provision for income taxes ( 105.5 ) ( 73.2 ) Earnings from continuing operations 445.2 316.6 Discontinued operations, net of tax ( 5.4 ) ( 5.5 ) Net earnings 439.8 311.1 Less: Net earnings from continuing operations attributable to noncontrolling interests ( 3.5 ) ( 4.0 ) Net earnings attributable to Trane Technologies plc $ 436.3 $ 307.1 Amounts attributable to Trane Technologies plc ordinary shareholders: Continuing operations $ 441.7 $ 312.6 Discontinued operations ( 5.4 ) ( 5.5 ) Net earnings $ 436.3 $ 307.1 Earnings (loss) per share attributable to Trane Technologies plc ordinary shareholders: Basic: Continuing operations $ 1.94 $ 1.36 Discontinued operations ( 0.02 ) ( 0.02 ) Net earnings $ 1.92 $ 1.34 Diluted: Continuing operations $ 1.92 $ 1.35 Discontinued operations ( 0.02 ) ( 0.02 ) Net earnings $ 1.90 $ 1.33 Weighted-average shares outstanding: Basic 227.4 229.3 Diluted 229.5 231.5 See accompanying notes to Condensed Consolidated Financial Statements. 1 Table of Contents TRANE TECHNOLOGIES PLC CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) Three months ended March 31, In millions 2024 2023 Net earnings $ 439.8 $ 311.1 Other comprehensive income (loss): Currency translation ( 76.6 ) 61.4 Cash flow hedges: Unrealized net gains (losses) arising during period ( 4.9 ) 0.3 Net (gains) losses reclassified into earnings 3.0 6.9 Tax (expense) benefit 0.1 ( 1.5 ) Total cash flow hedges, net of tax ( 1.8 ) 5.7 P

View Full Filing

View this 10-Q filing on SEC EDGAR