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Let’s delve into the factors that have contributed to the company’s outperformance.
Consecutive Earnings & Revenues Beat
Trane Technologies reported with better-than-expected earnings and revenue performance in the past four quarters. The top line benefited from strong product and service demand. The bottom line was aided by improving the quality of products and services and operating efficiencies.
Raised 2022 Guidance
The company expects revenues to increase 11-12% on a reported basis and 13-14% on an organic basis compared with the prior expectation of an 11% increase on a reported basis and 12% on an organic basis.
Adjusted EPS is expected to be between $7.15 and $7.2 compared with the previously expected range of $7.05-$7.15.
Consistent Dividend Payer
Trane Technologies has a consistent record of rewarding its shareholders through dividend payments and share repurchases. In 2021, 2020 and 2019, the company repurchased shares worth $1.10 billion, $250 million and $750.1 million, respectively. It paid $561.1 million, $507.3 million and $510.1 million in dividends during 2021, 2020 and 2019, respectively. Such moves indicate Trane’s commitment to boosting shareholders’ value and underlining its confidence in its business.
Zacks Rank and Stocks to Consider
Trane Technologies currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Business Services sector are Booz Allen Hamilton Holding Corporation (BAH - Free Report) and CRA International, Inc. (CRAI - Free Report) .
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Trane Technologies (TT) Gains 41% in 6 Months: Here's How
Trane Technologies plc’s (TT - Free Report) stock has had an impressive run over the past six months.
Shares appreciated 40.8% against the 7.4% decline in the industry it belongs to.
Trane Technologies plc Price
Trane Technologies plc price | Trane Technologies plc Quote
Let’s delve into the factors that have contributed to the company’s outperformance.
Consecutive Earnings & Revenues Beat
Trane Technologies reported with better-than-expected earnings and revenue performance in the past four quarters. The top line benefited from strong product and service demand. The bottom line was aided by improving the quality of products and services and operating efficiencies.
Raised 2022 Guidance
The company expects revenues to increase 11-12% on a reported basis and 13-14% on an organic basis compared with the prior expectation of an 11% increase on a reported basis and 12% on an organic basis.
Adjusted EPS is expected to be between $7.15 and $7.2 compared with the previously expected range of $7.05-$7.15.
Consistent Dividend Payer
Trane Technologies has a consistent record of rewarding its shareholders through dividend payments and share repurchases. In 2021, 2020 and 2019, the company repurchased shares worth $1.10 billion, $250 million and $750.1 million, respectively. It paid $561.1 million, $507.3 million and $510.1 million in dividends during 2021, 2020 and 2019, respectively. Such moves indicate Trane’s commitment to boosting shareholders’ value and underlining its confidence in its business.
Zacks Rank and Stocks to Consider
Trane Technologies currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Business Services sector are Booz Allen Hamilton Holding Corporation (BAH - Free Report) and CRA International, Inc. (CRAI - Free Report) .
Booz Allen carries a Zacks Rank #2 (Buy) at present. BAH has a long-term earnings growth expectation of 8.9%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Booz Allen delivered a trailing four-quarter earnings surprise of 8.8% on average.
CRA International carries a Zacks Rank of 2 at present. CRAI has a long-term earnings growth expectation of 14.3%.
CRA International delivered a trailing four-quarter earnings surprise of 25.7% on average.