July 30 (Reuters) - Trane Technologies ( TT ) raised
its full-year profit forecast on Wednesday, after topping
second-quarter earnings estimates on the back of strong demand
for its heating and air-conditioning systems as well as higher
pricing.
The Ireland-based company's Americas segment - its
largest revenue generator - saw robust industrial and commercial
demand, helping its quarterly sales to rise 9% to $4.69 billion
from a year ago.
The firm, which owns transport refrigeration company Thermo
King, in April flagged an annual cost impact estimate of $250
million to $275 million from tariffs. However, Trane ( TT ) had said it
would aim to soften the blow with price hikes.
The company expects its 2025 adjusted profit to be about
$13.05 per share, compared with its prior view of $12.70 to
$12.90 per share.
Trane Technologies ( TT ) posted a second-quarter profit of $3.88
per share on an adjusted basis, beating analysts' average
estimate of $3.79 per share, according to data compiled by LSEG.
Its quarterly revenue rose about 8% to $5.75 billion,
falling marginally short of the $5.78 billion expected by
analysts.