April 30 (Reuters) – Trane Technologies raised its full-year profit and revenue forecast on Thursday after reporting better-than-expected quarterly results, as rapidly growing AI-focused data centers boosted demand for its commercial heating and air-conditioning systems.
Rising temperatures, driven by climate change, have boosted sales for companies such as Trane, as households and businesses increasingly rely on air conditioning.
• For the full year, Trane now expects adjusted earnings per share between $14.75 and $14.95, compared with its earlier forecast of $14.65 to $14.85.
• The company now expects full-year 2026 reported revenue growth of about 9.5%, above its prior estimate of between 8.5% and 9.5%.
• Trane, which owns transport refrigeration company Thermo King, saw an over 5% rise in quarterly net revenue in its Americas segment and an 11.5% increase in its EMEA business.
• Trane’s first-quarter bookings grew 24%, led by nearly 40% growth in its Americas commercial HVAC business.
• Trane’s adjusted profit rose to $2.63 per share in the quarter ended March 31, above estimates of $2.53 per share, according to data compiled by LSEG.
• The Ireland-based company’s revenue rose 6% to $4.97 billion, from $4.69 billion a year ago. Analysts on average had expected revenue of $4.82 billion.
(Reporting by Megavarshini G. Somasundaram in Bengaluru; Editing by Maju Samuel)
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