Trane Technologies' first-quarter revenue rose 6.0% to $4.97B, but operating income fell 5.2% to $776.1M, which included a non-cash adjustment in prior year of $61.2 million related to contingent consideration.

Filed April 30, 2026 · Period ending March 31, 2026 · Compared to 10-Q Apr 30, 2025 · ~1 min read

Key Changes

• medium

  Net revenues increased 6.0% to $4.97B, driven by stronger end-customer demand within our Americas and Asia Pacific segments, realization of price increases, incremental revenue from acquisitions, and a favorable impact from foreign currency translation.

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• high

  Operating income declined 5.2% to $776.1M, which included a non-cash adjustment in prior year of $61.2 million related to contingent consideration, and operating margin narrowed to 15.6% from 17.5%.

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• medium

  The company completed the acquisition of Stellar Energy Americas, a provider of turnkey data center cooling solutions, and acquired the remaining interest in LiquidStack, strengthening its data center cooling portfolio.

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