Trane Technologies reported a strong performance in its commercial HVAC segment for the fourth quarter and full year 2025, driven by high bookings and record backlog levels. The company saw continued growth in its Americas Commercial HVAC operations, contributing to increased visibility entering 2026.
In the fourth quarter of 2025, organic bookings rose 22 percent year-over-year, with Americas Commercial HVAC bookings increasing by more than 35 percent. Applied equipment bookings in the region surged over 120 percent, reaching a book-to-bill ratio of 200 percent. The segment ended the year with a 25 percent increase in backlog compared to 2024.
Company-wide, Trane Technologies reported $5.8 billion in bookings for the quarter, a 24 percent increase year-over-year. Revenues reached $5.1 billion, up 6 percent, with organic revenues rising 4 percent. For the full year, total bookings were $22.6 billion, with organic growth of 11 percent, while revenues grew 7 percent to $21.3 billion.
In the EMEA region, organic bookings increased 9 percent in the fourth quarter. Commercial HVAC backlog in the region was up approximately 40 percent compared to the previous year. The Asia Pacific segment showed modest growth in bookings at 1 percent organically, while organic revenues declined 6 percent in the same period.
“2025 was another strong year for our company,” said Dave Regnery, chair and CEO of Trane Technologies. “We continue to see tremendous strength and rapidly growing pipelines in our commercial HVAC businesses, led by the Americas.”
The company reported a record enterprise backlog of $7.8 billion at year-end 2025, up 15 percent from the previous year, indicating strong future demand for HVAC systems and services.
