Oct 30 (Reuters) - Trane Technologies ( TT ) raised its

full-year profit and revenue forecasts on Wednesday,

anticipating strong demand for heating and air-conditioning

systems from commercial builders.

The company now expects an adjusted profit of $11.10 per

share in 2024, above its earlier expectations of $10.80 per

share.

It expects revenue growth of about 11% for the year, up from

its previous expectations of a growth of about 10%.

Shares of the company were up about 1% in premarket trade.

Increasing global temperatures, fueled by climate change,

have aided demand for cooling systems as homes and businesses

cranked up their air conditioners to escape extreme heat.

Trane Technologies ( TT ), which owns Thermo King and Frigoblock,

also saw increased demand for heating and cooling systems due to

the rapid growth of data centers driven by the AI boom.

It earned $3.37 per share, on an adjusted basis, in the

third quarter ended Sept. 30, compared with estimates of $3.24

per share, according to data compiled by LSEG.

The company posted net revenue of $5.44 billion, compared

with estimates of $5.32 billion.