Trane Technologies plc: Trane Technologies Reports Strong Fourth-Quarter and Full-Year 2020 Results in Challenging Economic Environment
GAAP operating margin up 180 bps and adjusted operating margin up 150 bps
GAAP continuing EPS of $1.01; adjusted continuing EPS of $1.03, up 12 percent
GAAP full-year continuing EPS of $4.02; adjusted continuing EPS of $4.46
Exceptional cash conversion for full-year 2020; cash from continuing operating activities of $1.8 billion; free cash flow of $1.7 billion, 158 percent of adjusted net earnings This news release contains non-GAAP financial measures. Definitions of the non-GAAP financial measures can be found in the footnotes of this news release. See attached tables for additional details and reconciliations.
Trane Technologies plc (NYSE:TT), a global climate innovator, today reported diluted earnings per share (EPS) from continuing operations of $1.01 for the fourth quarter of 2020. Adjusted continuing EPS was $1.03, up 12 percent, wh
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The Board of Directors of Trane Technologies plc (NYSE:TT), a global climate innovator, declared a quarterly dividend of $0.59 cents per ordinary share, or $2.36 annualized, reflecting an 11% increase. Trane Technologies has paid consecutive quarterly cash dividends on its common shares since 1919 and annual dividends since 1910.
The dividend is payable March 31, 2021, to shareholders of record on March 5, 2021.
The Board of Directors also authorized a new share repurchase program of up to $2 billion of the company s ordinary shares, to commence upon the completion of the company s current $1.5 billion program. Today s announcements reflect our strong balance sheet and liquidity position and underscore our continued confidence in our ability to generate strong free cash flow, maintain high levels of business reinvestment, and to deploy 100% of excess cash over time through our balanced capital allocation strategy to deliver differentiated returns for shareholders, said M
Trane Technologies plc: Trane Technologies Named One of the World s Most Admired Companies by Fortune
Fortune Magazine has named Trane Technologies plc (NYSE:TT), a global climate innovator, to its
World s Most Admired Companies list. The company has been on the list for nine years, and now appears for the first time under the Trane Technologies name . The list is widely considered to be the ultimate report card on corporate reputation. Fortune develops it annually with the Korn Ferry Hay Group. We are particularly proud to be honored by Fortune as one of the World s Most Admired companies, said Michael W. Lamach, chairman and chief executive officer of Trane Technologies. This is very meaningful recognition for our people, following our debut in March 2020 and our defining first year as a company focused on climate innovation. Their dedication to our purpose to boldly challenge what s possible will create a better, more sustainable planet for generations to come.
Trane Technologies plc: Trane Technologies Named to Corporate Knights Global 100
Joins the World Economic Forum to Advance a Sustainable World
Trane Technologies (NYSE:TT), a global climate innovator, has been named to the 2021 Corporate Knights Global 100 index of the world s most sustainable corporations. Corporate Knights released its 17th annual ranking in Davos today, after a rigorous assessment of over 8,000 companies. We re proud to earn a place on the Corporate Knights elite list as one of the world s most sustainable companies, said Mike Lamach, chairman and chief executive officer of Trane Technologies. Leading with a bold purpose to challenge what s possible for a sustainable world and embedding environmental and social principles into our strategy and operations is the right thing to do. It s not only good for our company s performance, it s also vital to building a better future for our people, communities and planet. By challenging ourselves to think differently
Trane Technologies plc: Trane Technologies Schedules Fourth Quarter 2020 Earnings Conference Call
Trane Technologies plc (NYSE:TT), a global climate innovator, will host a conference call to discuss its fourth quarter 2020 financial results on Friday, February 5, 2021, at 10 a.m. ET. The company will issue its fourth quarter earnings release and earnings presentation in advance of the call; both will be available on the Trane Technologies website.
A real-time, listen-only webcast of the conference call will be broadcast live over the internet. Individuals wishing to listen can access the call through the company s website at www.tranetechnologies.com under the investor relations section.