Trane Technologies plc TT is expected to announce its second quarter 2024 results on July 31, 2024, before market open.
The company has a history of impressive earnings surprises: Over the last four quarters, it has exceeded the Zacks consensus estimate, delivering an average earnings surprise of 7.5%.
Trane Technologies plc: Price and earnings surprise
Trane Technologies plc Price EPS Surprise | Trane Technologies plc Quote
Expectations for the second quarter
The consensus estimate for TT’s revenue in the reporting quarter is $5.1 billion, an increase of 8.7% from the figure reported in the second quarter of 2023. Revenue is expected to have benefited from increased customer demand in the Americas, Asia-Pacific and Europe, Middle East and Africa (EMEA) segments.
We expect revenue in the Americas to increase 8.5% year-over-year to $4 billion. A strong performance in the commercial HVAC business is expected to have benefited this region’s revenue. Our estimate for EMEA revenue is $661.2 million, representing 7.1% year-over-year growth. Asia Pacific revenue is estimated at $437.5 million, representing a 10.9% increase from the figure reported in Q2 2023. The increase in bookings in China is expected to have contributed to this region’s performance.
The consensus for TT’s earnings per share for the quarter to be reported is $3.1, representing year-over-year growth of 14.9%. Strong margins are likely to have had a positive impact on the bottom line.
What our model says
Our proven model predicts an earnings beat for Trane Technologies this time. The combination of a positive Earnings ESP and a Zacks Rank 1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. With our Earnings ESP filter, you can find the best stocks to buy or sell before they are reported.
Trane Technologies has an Earnings ESP of +0.95% and a Zacks Rank of 2.
Other stocks worth a look
Here are some stocks in the broader business services sector that our model also suggests have the right combination of elements to outperform on earnings this season.
Gardener IT: The Zacks Consensus Estimate for the company’s second quarter 2024 revenue is $1.6 billion, up 5.4% from the actual revenue in the year-ago quarter. For earnings, the consensus estimate is $3 per share, up 6.3% year-over-year. The company has beaten the consensus estimate over the past four quarters with an average surprise of 19.5%.
IT currently has an Earnings ESP of +0.69% and a Zacks Rank of 2. The company is expected to release its second quarter results on July 30. You can see You can find the complete list of today’s Zacks #1 Rank stocks here.
Company: CPAY: The Zacks Consensus Estimate for the company’s second-quarter 2024 revenue is $971.7 million, representing growth of 2.5% from the figure reported in the year-ago quarter. For earnings, the consensus mark is $4.5 per share, representing year-over-year growth of 7.6%. The company has beaten the consensus estimate in two of the trailing four quarters, missed in one, and met in one, with an average surprise of 0.02%.
CRAI currently has an Earnings ESP of +0.06% and a Zacks Rank of 3. The company will report its second-quarter results on August 7.
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