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MARKETS LIVE BLOG:

NASDAQ SLIPS AFTER RECORD AS INVESTORS AWAIT NVIDIA EARNINGS

Gain in the AI chipmaker's stock price helped lift the tech-heavy index to a record high on Monday

Compared to Estimates, Trane Technologies (TT) Q1 Earnings: A Look at Key Metrics

Zacks Equity Research
·2 min read

Trane Technologies (TT) reported $4.22 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 15%. EPS of $1.94 for the same period compares to $1.41 a year ago.

The reported revenue represents a surprise of +5.71% over the Zacks Consensus Estimate of $3.99 billion. With the consensus EPS estimate being $1.64, the EPS surprise was +18.29%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how Trane Technologies performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Total Bookings: $5.07 billion versus the two-analyst average estimate of $4.52 billion.

  • Revenues- Americas: $3.33 billion versus $3.09 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +16.6% change.

  • Revenues- EMEA: $553.40 million versus $584.57 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +8.4% change.

  • Revenues- Asia Pacific: $327.30 million versus the three-analyst average estimate of $306.72 million. The reported number represents a year-over-year change of +11.2%.

View all Key Company Metrics for Trane Technologies here>>>

Shares of Trane Technologies have returned +1.4% over the past month versus the Zacks S&P 500 composite's -2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research