Trane Technologies Q1 EPS Beats, Raises Guidance

Trane Technologies reported Q1 adjusted EPS $2.63, beating consensus $2.53 by $0.10.
Revenue rose 6% to $4.97 billion, exceeding the $4.81 billion estimate and up from $4.69 billion YoY.
Full‑year 2026 adjusted EPS guidance lifted to $14.75‑$14.95, midpoint $14.85 above consensus $14.81.
Record backlog hit $10.7 billion (+30% YoY) and free cash flow jumped to $573 million from $230 million.