
Trane Technologies has announced its financial results for the full year 2024, reporting a 12% increase in revenues to $19.8 billion and an 11% rise in bookings to $20.3 billion. The company also achieved strong profitability, with GAAP operating margin up 120 basis points (bps) and adjusted operating margin up 130 bps compared to 2023.
“Our talented team delivered another year of standout financial performance in 2024,” said Dave Regnery, chair and CEO of Trane Technologies. “We achieved record financial results with organic revenue growth of 12%, powerful free cash flow conversion of 109%, and adjusted earnings per share growth of 24% – our fourth consecutive year of earnings per share growth of 20% or more.”
The company attributed its strong performance to higher volumes, positive pricing strategies, and productivity improvements, which offset inflationary pressures. Trane Technologies also continued high levels of business reinvestment to drive future growth.
The company reaffirmed its commitment to paying a competitive and growing dividend and deploying 100% of excess cash to shareholders over time.
For full-year 2025, Trane Technologies expects:
With a strong backlog and continued investment in sustainability and innovation, Trane Technologies anticipates continued strong financial performance in 2025.