Trane Technologies plc Files Q3 2024 10-Q
Ticker: TT · Form: 10-Q · Filed: Oct 30, 2024 · CIK: 1466258
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Trane Tech's Q3 10-Q is in. Check financials for latest performance.
AI Summary
Trane Technologies plc filed its 10-Q for the period ending September 30, 2024. The company reported financial results and provided updates on its business operations. Specific financial figures and operational details are available within the full filing.
Why It Matters
This filing provides investors with a quarterly update on Trane Technologies' financial performance and strategic direction, impacting investment decisions.
Risk Assessment
Risk Level: medium — 10-Q filings inherently carry medium risk due to the detailed financial and operational information that can influence stock prices.
Key Numbers
- 20240930 — Reporting Period End Date (Indicates the end of the fiscal quarter for which results are reported.)
- 20241030 — Filing Date (The date the report was officially submitted to the SEC.)
Key Players & Entities
- Trane Technologies plc (company) — Filer of the 10-Q
- Ingersoll-Rand plc (company) — Former company name
- 20240930 (date) — End of the reporting period
- 20241030 (date) — Filing date
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on October 30, 2024.
What was Trane Technologies plc formerly known as?
Trane Technologies plc was formerly known as Ingersoll-Rand plc.
What is the Standard Industrial Classification (SIC) code for Trane Technologies plc?
The SIC code for Trane Technologies plc is 3822, which corresponds to AUTO CONTROLS FOR REGULATING RESIDENTIAL & COMML ENVIRONMENT.
What is the fiscal year end for Trane Technologies plc?
The fiscal year end for Trane Technologies plc is December 31.
Filing Stats: 4,854 words · 19 min read · ~16 pages · Grade level 6.7 · Accepted 2024-10-30 13:53:04
Key Financial Figures
- $1.00 — registered Ordinary Shares, Par Value $1.00 per Share TT New York Stock Exchange 5
Filing Documents
- tt-20240930.htm (10-Q) — 1628KB
- tt-10qx09302024xex221xq3.htm (EX-22.1) — 9KB
- tt-10qx09302024xex311xq3.htm (EX-31.1) — 11KB
- tt-10qx09302024xex312xq3.htm (EX-31.2) — 11KB
- tt-10qx09302024xex32xq3.htm (EX-32) — 6KB
- 0001466258-24-000243.txt ( ) — 9270KB
- tt-20240930.xsd (EX-101.SCH) — 61KB
- tt-20240930_cal.xml (EX-101.CAL) — 80KB
- tt-20240930_def.xml (EX-101.DEF) — 552KB
- tt-20240930_lab.xml (EX-101.LAB) — 804KB
- tt-20240930_pre.xml (EX-101.PRE) — 702KB
- tt-20240930_htm.xml (XML) — 1261KB
FINANCIAL INFORMATION
PART I FINANCIAL INFORMATION 1
- Financial Statements
Item 1 - Financial Statements 1 Condensed Consolidated Statements of Earnings for the three and nine months ended September 30, 2024 and 2023 1 Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and nine months ended September 30, 2024 and 2023 2 Condensed Consolidated Balance Sheets at September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Equity for the three and nine months ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows for the nin e months ended September 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 46 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 Nine months ended September 30, September 30, In millions, except per share amounts 2024 2023 2024 2023 Net revenues $ 5,441.2 $ 4,882.9 $ 14,964.2 $ 13,253.5 Cost of goods sold ( 3,466.8 ) ( 3,224.8 ) ( 9,594.5 ) ( 8,867.6 ) Selling and administrative expenses ( 949.8 ) ( 793.9 ) ( 2,677.2 ) ( 2,179.5 ) Operating income 1,024.6 864.2 2,692.5 2,206.4 Interest expense ( 63.0 ) ( 57.9 ) ( 178.5 ) ( 177.1 ) Other income/(expense), net 6.3 ( 10.0 ) ( 22.8 ) ( 76.8 ) Earnings before income taxes 967.9 796.3 2,491.2 1,952.5 Provision for income taxes ( 181.1 ) ( 157.5 ) ( 492.3 ) ( 400.2 ) Earnings from continuing operations 786.8 638.8 1,998.9 1,552.3 Discontinued operations, net of tax ( 8.9 ) ( 6.5 ) ( 21.3 ) ( 18.2 ) Net earnings 777.9 632.3 1,977.6 1,534.1 Less: Net earnings from continuing operations attributable to noncontrolling interests ( 5.9 ) ( 6.0 ) ( 14.0 ) ( 14.5 ) Net earnings attributable to Trane Technologies plc $ 772.0 $ 626.3 $ 1,963.6 $ 1,519.6 Amounts attributable to Trane Technologies plc ordinary shareholders: Continuing operations $ 780.9 $ 632.8 $ 1,984.9 $ 1,537.8 Discontinued operations ( 8.9 ) ( 6.5 ) ( 21.3 ) ( 18.2 ) Net earnings $ 772.0 $ 626.3 $ 1,963.6 $ 1,519.6 Earnings (loss) per share attributable to Trane Technologies plc ordinary shareholders: Basic: Continuing operations $ 3.46 $ 2.77 $ 8.76 $ 6.72 Discontinued operations ( 0.04 ) ( 0.03 ) ( 0.09 ) ( 0.08 ) Net earnings $ 3.42 $ 2.74 $ 8.67 $ 6.64 Diluted: Continuing operations $ 3.43 $ 2.74 $ 8.68 $ 6.66 Discontinued operations ( 0.04 ) ( 0.02 ) ( 0.09 ) ( 0.08 ) Net earnings $ 3.39 $ 2.72 $ 8.59 $ 6.58 Weighted-average shares outstanding: Basic 225.8 228.6 226.6 228.8 Diluted 228.0 230.6 228.8 230.9 See accompanying notes to Condensed Consolidated Financial Statements. 1 Table of Contents TRANE TECHNOLOGIE