Trane Technologies (TT) Earnings: Q3 2026 Results and Next Report Date

The quarter ended September 30, 2026 and Trane Technologies published the results on October 29, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Trane Technologies reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted continuing, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• EPS figures are diluted EPS from continuing operations, the measure Trane Technologies leads with. Including discontinued operations (a loss of $0.05 per share), diluted EPS was $4.74.
• Trane Technologies acquired Stellar Energy, a data center cooling provider, on February 17, 2026. It is reported in the Americas segment, and acquisitions added about 2 percentage points to Americas revenue growth.

Source: Trane Technologies Q3 2026 results, October 29, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Trane Technologies splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Trane Technologies's Americas revenue was $5.6 billion in Q3 2026, up 21% from $4.7 billion in Q3 2025, 84% of total revenue.
• Trane Technologies's Europe, Middle East and Africa (EMEA) revenue was $756 million in Q3 2026, up 1% from $750 million in Q3 2025, 11% of total revenue.
• Trane Technologies's Asia Pacific revenue was $356 million in Q3 2026, up 8% from $330 million in Q3 2025, 5% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

Trane Technologies raised its full-year revenue guidance and reaffirmed its EPS guidance. The release also gives adjusted continuing EPS guidance of $15.20 to $15.30.

In its Q3 2026 release, Trane Technologies said:

“The Company expects full-year 2026 reported revenue growth of approximately 13.5 percent and organic revenue growth of approximately 11 percent versus full-year 2025.”

“The Company expects GAAP continuing EPS for full-year 2026 of approximately $15.00 to $15.10, including $0.20 for non-GAAP adjustments.”

“The Company expects to pay a competitive and growing dividend and to deploy 100 percent of excess cash to shareholders over time.”

Source: Trane Technologies Q3 2026 release, Oct 29, 2026.

This is the company's own guidance as of Oct 29, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the TT forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP net revenues and diluted EPS from continuing operations, each as first reported in that quarter's release.

Trane Technologies's next report is expected around January 28, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q3 2026 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 29, 2026

Trane Technologies reported net revenues of $6,759.7 million in Q3 2026, up 18% from $5,742.5 million, with organic revenues up 16%. Its Americas segment, which covers commercial heating, cooling and ventilation, building controls and energy services, residential heating and cooling, and transport refrigeration in North America and Latin America, brought in $5,647.9 million, up 21%. EMEA had $755.8 million, up 1%, and Asia Pacific $356.0 million, up 8%. (Trane Technologies Q3 2026 release, Oct 29, 2026)

Trane Technologies' revenue growth breaks down into volume of 15.7% and pricing of 0.5%, an organic increase of 16.2%, plus 1.6% from acquisitions and minus 0.1% from currency translation. It attributes the volume to stronger end-customer demand across all segments. In the Americas, volume rose 18.5% and acquisitions added 2.0%, led by Commercial HVAC, Transport refrigeration and Residential. Those acquisitions include Stellar Energy, a provider of turnkey data center cooling solutions, bought on February 17, 2026 for gross purchase consideration of $553.4 million. (Trane Technologies Form 10-Q, Q3 2026, Oct 29, 2026)

Trane Technologies splits each segment into equipment and services. In the Americas, equipment revenue was $3,782.8 million and services $1,865.1 million, against $2,971.7 million and $1,691.6 million a year earlier. EMEA equipment revenue fell to $469.3 million from $486.1 million while services rose to $286.5 million from $263.5 million; higher Commercial HVAC volumes in Europe were partly offset by lower volumes from the conflict in the Middle East. In Asia Pacific, volume rose 8.0% and pricing was down 1.0%. (Trane Technologies Form 10-Q, Q3 2026, Oct 29, 2026)

Trane Technologies' bookings were $7,248 million in the quarter, up 21% (20% organic), for a book-to-bill of 107 percent. Backlog reached $12.5 billion, up 73 percent, with Americas Commercial HVAC backlog up approximately 80 percent. EMEA bookings rose 40 percent to $1,109.4 million, a book-to-bill of 147 percent. No single external customer accounted for more than 10% of consolidated net revenues in 2025. (Trane Technologies Q3 2026 release, Oct 29, 2026; Trane Technologies Form 10-K, 2025, Feb 5, 2026)

Trane Technologies' diluted EPS from continuing operations was $4.79 in Q3 2026, up 25% from $3.82, and adjusted continuing EPS was $4.86, against $3.88. The $0.07 per share gap comes from $20.7 million of pre-tax adjustments: $16.3 million of amortization of an acquired backlog intangible asset, $3.6 million of restructuring costs and $0.8 million of merger and acquisition transaction costs. Including discontinued operations, a loss of $0.05 per share, diluted EPS was $4.74. (Trane Technologies Q3 2026 release, Oct 29, 2026)

Trane Technologies' effective tax rate fell to 17.1% from 21.2%. It is above the Irish statutory rate of 12.5% because much of the company's earnings face higher statutory rates, including U.S. federal, state and local taxes, partly offset by excess tax benefits from share-based payments, U.S. research and development credits and finalizing the prior year U.S. federal return. GAAP operating margin was 19.9%, against 20.3%, and adjusted operating margin 20.2%, against 20.6%. (Trane Technologies Q3 2026 release, Oct 29, 2026; Trane Technologies Form 10-Q, Q3 2026, Oct 29, 2026)

Trane Technologies' diluted weighted average share count was 221.4 million, against 224.4 million. It repurchased and canceled $1,338.5 million of its ordinary shares in the first nine months of 2026, leaving $3.4 billion under its $5.0 billion authorization, and bought approximately $150 million more between September 30 and October 29, 2026. (Trane Technologies Q3 2026 release, Oct 29, 2026; Trane Technologies Form 10-Q, Q3 2026, Oct 29, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Trane Technologies gives full-year guidance in its release and raised its 2026 revenue outlook with its Q3 results. It now expects reported revenue growth of approximately 13.5 percent and organic revenue growth of approximately 11 percent over 2025. It reaffirmed EPS guidance: GAAP continuing EPS of approximately $15.00 to $15.10, including $0.20 for non-GAAP adjustments, and adjusted continuing EPS of $15.20 to $15.30. (Trane Technologies Q3 2026 release, Oct 29, 2026)

Trane Technologies said that through October it had deployed or committed approximately $3.4 billion of capital in 2026, including approximately $930 million for dividends, $1,080 million for M&A and $1.4 billion for share repurchases. (Trane Technologies Q3 2026 release, Oct 29, 2026)

A consensus figure is the average of the models published by the analysts who cover Trane Technologies, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Trane Technologies's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning TT is on is TT a buy or a sell?, what analysts expect next is on the TT forecast, and what the company does is on the Trane Technologies (TT) stock page.

Every number on this page can be traced to a document Trane Technologies published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.