(Reuters) -Trane Technologies raised its full-year profit forecast on Wednesday, after topping second-quarter earnings estimates on the back of strong demand for its heating and air-conditioning
Trane Technologies Increases Annual Profit Outlook Amid Strong Demand
Trane Technologies' Profit Forecast Update
(Reuters) -Trane Technologies raised its full-year profit forecast on Wednesday, after topping second-quarter earnings estimates on the back of strong demand for its heating and air-conditioning systems as well as higher pricing.
Strong Demand in the Americas
The Ireland-based company's Americas segment - its largest revenue generator - saw robust industrial and commercial demand, helping its quarterly sales to rise 9% to $4.69 billion from a year ago.
Impact of Tariffs on Costs
The firm, which owns transport refrigeration company Thermo King, in April flagged an annual cost impact estimate of $250 million to $275 million from tariffs. However, Trane had said it would aim to soften the blow with price hikes.
Quarterly Earnings Performance
The company expects its 2025 adjusted profit to be about $13.05 per share, compared with its prior view of $12.70 to $12.90 per share.
Trane Technologies posted a second-quarter profit of $3.88 per share on an adjusted basis, beating analysts' average estimate of $3.79 per share, according to data compiled by LSEG.
Its quarterly revenue rose about 8% to $5.75 billion, falling marginally short of the $5.78 billion expected by analysts.
(Reporting by Utkarsh Shetti in Bengaluru; Editing by Shreya Biswas)
