Named by Forbes as one of 'America's Best Employers for Diversity' One of 300 companies on Financial Times ranking for 'Europe's Climate Leaders 2021' Listed as one of the '100 Best
Stocks quotes in this article: TT, IR
In his first Executive Decision segment, Jim Cramer spoke with Mike Lamach, chairman and CEO of Trane Technologies (TT) , the climate controls company.
Lamach said that after spinning out from Ingersoll Rand (IR) , they looked at their company as a startup, organizing and investing for innovation and profits. As we ve seen over the past year, indoor air quality has never been more important. So, too, has refrigeration for things like vaccines. Trane has been at the forefront of innovation, creating all-new freezer technologies.
Trane is also on a mission to save the environment. Nearly one-third of all carbon emissions stem from HVAC and refrigeration systems, Lamach noted, and Trane is working on systems to eliminate those emissions.
Trane Technologies plc: Trane Technologies Reports Strong First-Quarter 2021 Results; Raises Full-Year Revenue and EPS Guidance
Reported bookings of $4.1 billion, up 34 percent; organic bookings up 31 percent
Reported revenues of $3.0 billion, up 14 percent; organic revenues up 11 percent
GAAP operating margin up 590 bps; adjusted operating margin up 500 bps
GAAP continuing EPS of $0.96; adjusted continuing EPS of $1.01, up 135 percent
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 $0.96 for the first quarter of 2021. Adjusted continuing EPS was $1.01, up 135 percent, which excludes $14.7 million related to planned restructuring and transformation costs.
(0)
Trane Technologies (NYSE: TT), a global climate innovator, announced today that it has revised its executive and senior leader incentive plan to link directly to Environmental, Social and Governance (ESG) metrics that align with the company s bold 2030 Sustainability Commitments.
The company s revised annual incentive plan, which starts this year, holds top executives and approximately 2,300 company leaders accountable for meeting the company s ambitious social and environmental sustainability goals. In addition to tying leaders annual cash incentives to ESG metrics, all salaried employee performance plans now must include at least one goal tied to the company s 2030 sustainability commitments. We are leading with a bold purpose to challenge what s possible for a sustainable world, and have embedded leading environmental, social and governance practices into our strategy and operations, said Mike Lamach, Trane Technologies chairman and CEO. Solving major global challenge