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Trane Raises Outlook as Commercial HVAC Orders Surge
['Joanna Turpin Is A Senior Editor At', 'Matt Jachman', 'Hannah Belloli-Oster', 'Joanna R. Turpin']
ACHR News
Trane Technologies’ growth accelerated in the second quarter, as stronger commercial HVAC demand and an improved residential business lifted companywide revenue to $6.4 billion.
Revenue increased 11% year over year, compared with 6% growth in the first quarter, while organic revenue growth improved to 9% from 3%.
Enterprise organic bookings were up 37%, and backlog increased to a record $12.1 billion — up 70% year-over-year.
“Q2 was another strong quarter,” said Dave Regnery, CEO of Trane Technologies.
Looking AheadTrane raised its full-year organic revenue growth to approximately 9% and now expects reported revenue to increase about 11.5%.