Trane Technologies plc Files Q2 2024 10-Q
Ticker: TT · Form: 10-Q · Filed: Jul 31, 2024 · CIK: 1466258
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Trane Tech's Q2 10-Q is in. Check financials.
AI Summary
Trane Technologies plc filed its 10-Q for the period ending June 30, 2024. The company reported financial results for the second quarter and the first half of the year. Key financial data and operational details are presented in this filing.
Why It Matters
This filing provides investors and analysts with the latest financial performance and operational updates for Trane Technologies, crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.
Key Numbers
- 2024 Q2 — Reporting Period (Second quarter of 2024 financial results)
- 2024-06-30 — Period End Date (End of the reporting quarter)
- 2023-06-30 — Prior Year Period End (Comparison point for Q2 2024 results)
Key Players & Entities
- Trane Technologies plc (company) — Filer of the 10-Q
- Ingersoll-Rand plc (company) — Former company name
- 20240630 (date) — End of reporting period
- 20240731 (date) — Filing date
FAQ
What were Trane Technologies' total revenues for the six months ended June 30, 2024?
The filing indicates financial data for the period from 2024-01-01 to 2024-06-30, but specific revenue figures are not detailed in the provided header information.
What is the principal business of Trane Technologies plc?
Trane Technologies plc is in the business of AUTO CONTROLS FOR REGULATING RESIDENTIAL & COMML ENVIRONMENT, with SIC code 3822.
When did Trane Technologies plc change its name from Ingersoll-Rand plc?
The date of the name change from Ingersoll-Rand plc to Trane Technologies plc was 20090612.
What are the specific senior notes mentioned in the filing?
The filing mentions 'FivePointTwoFivePercentSeniorNotesDueTwoThousandThirtyThree' and 'FivePointOneZeroPercentSeniorNotesDueTwoThousandThirtyFour'.
What is the fiscal year end for Trane Technologies plc?
The fiscal year end for Trane Technologies plc is December 31 (1231).
Filing Stats: 4,822 words · 19 min read · ~16 pages · Grade level 7 · Accepted 2024-07-31 14:12:08
Key Financial Figures
- $1.00 — registered Ordinary Shares, Par Value $1.00 per Share TT New York Stock Exchange 5
- $37.2 million — o had the option to exercise puts up to $37.2 million for settlement in February 2024 did not
Filing Documents
- tt-20240630.htm (10-Q) — 1557KB
- tt-10qx06302024xex221xq2.htm (EX-22.1) — 9KB
- tt-10qx06302024xex311xq2.htm (EX-31.1) — 11KB
- tt-10qx06302024xex312xq2.htm (EX-31.2) — 11KB
- tt-10qx06302024xex32xq2.htm (EX-32) — 6KB
- 0001466258-24-000233.txt ( ) — 9078KB
- tt-20240630.xsd (EX-101.SCH) — 60KB
- tt-20240630_cal.xml (EX-101.CAL) — 80KB
- tt-20240630_def.xml (EX-101.DEF) — 550KB
- tt-20240630_lab.xml (EX-101.LAB) — 802KB
- tt-20240630_pre.xml (EX-101.PRE) — 700KB
- tt-20240630_htm.xml (XML) — 1230KB
FINANCIAL INFORMATION
PART I FINANCIAL INFORMATION 1
- Financial Statements
Item 1 - Financial Statements 1 Condensed Consolidated Statements of Earnings for the three and s ix months ended June 30 , 2024 and 2023 1 Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and six months ended June 30 , 2024 and 2023 2 Condensed Consolidated Balance Sheets at June 30 , 2024 and December 31, 2023 3 Condensed Consolidated Statements of Equity for the three and six months ended June 30 , 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows for the six months ended June 30 , 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements 7
- 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 25
- Quantitative and Qualitative Disclosures about Market Risk
Item 3 - Quantitative and Qualitative Disclosures about Market Risk 42
- Controls and Procedures
Item 4 - Controls and Procedures 42
OTHER INFORMATION
PART II OTHER INFORMATION 43
- Legal Proceedings
Item 1 - Legal Proceedings 43
- Risk Factors
Item 1A - Risk Factors 43
- Unregistered Sales of Equity Securities and Use of Proceeds
Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds 43
- Other Information
Item 5 - Other Information 44
- Exhibits
Item 6 - Exhibits 45 44
SIGNATURES
SIGNATURES 47 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 Six months ended June 30, June 30, In millions, except per share amounts 2024 2023 2024 2023 Net revenues $ 5,307.4 $ 4,704.7 $ 9,523.0 $ 8,370.6 Cost of goods sold ( 3,371.9 ) ( 3,120.3 ) ( 6,127.6 ) ( 5,642.7 ) Selling and administrative expenses ( 901.3 ) ( 699.0 ) ( 1,727.4 ) ( 1,385.7 ) Operating income 1,034.2 885.4 1,668.0 1,342.2 Interest expense ( 57.5 ) ( 61.6 ) ( 115.5 ) ( 119.2 ) Other income/(expense), net ( 4.1 ) ( 57.4 ) ( 29.2 ) ( 66.8 ) Earnings before income taxes 972.6 766.4 1,523.3 1,156.2 Provision for income taxes ( 205.8 ) ( 169.6 ) ( 311.3 ) ( 242.8 ) Earnings from continuing operations 766.8 596.8 1,212.0 913.4 Discontinued operations, net of tax ( 6.9 ) ( 6.1 ) ( 12.3 ) ( 11.6 ) Net earnings 759.9 590.7 1,199.7 901.8 Less: Net earnings from continuing operations attributable to noncontrolling interests ( 4.6 ) ( 4.5 ) ( 8.1 ) ( 8.5 ) Net earnings attributable to Trane Technologies plc $ 755.3 $ 586.2 $ 1,191.6 $ 893.3 Amounts attributable to Trane Technologies plc ordinary shareholders: Continuing operations $ 762.2 $ 592.3 $ 1,203.9 $ 904.9 Discontinued operations ( 6.9 ) ( 6.1 ) ( 12.3 ) ( 11.6 ) Net earnings $ 755.3 $ 586.2 $ 1,191.6 $ 893.3 Earnings (loss) per share attributable to Trane Technologies plc ordinary shareholders: Basic: Continuing operations $ 3.36 $ 2.59 $ 5.30 $ 3.95 Discontinued operations ( 0.03 ) ( 0.02 ) ( 0.05 ) ( 0.05 ) Net earnings $ 3.33 $ 2.57 $ 5.25 $ 3.90 Diluted: Continuing operations $ 3.33 $ 2.57 $ 5.25 $ 3.92 Discontinued operations ( 0.03 ) ( 0.02 ) ( 0.05 ) ( 0.05 ) Net earnings $ 3.30 $ 2.55 $ 5.20 $ 3.87 Weighted-average shares outstanding: Basic 226.6 228.5 227.0 228.9 Diluted 228.7 230.3 229.1 230.9 See accompanying notes to Condensed Consolidated Financial Statements. 1 Table of Contents TRANE TECHNOLOGIES PLC CONDENSED CONS