Trane Technologies on Wednesday beat Wall Street estimates for fourth-quarter revenue and profit, helped by rising demand for heating and air-conditioning for commercial buildings.

Trane Technologies has a $6.75 billion backlog heading into 2025, per the report. The company says it saw strong performance across its geographic business segments, led by its commercial HVAC businesses. Fourth-quarter organic bookings in the Americas segment were up more than 30% on a three-year stack, Regnery said on the call.

Looking forward, Trane Technologies projects a 7-8% organic revenue growth for 2025 and an adjusted EPS between $12.70 and $12.90, indicating a 13-15% increase. The company remains committed to achieving over 100% free cash flow conversion and anticipates mid-single-digit growth in the residential market,

Trane Technologies plc TT reported better-than-expected fourth-quarter 2024 results. See Zacks Earnings Calendar to stay ahead of market-making news. Adjusted EPS of $2.61 surpassed the Zacks Consensus Estimate by 2.

Trane Technologies PLC (TT) reports robust Q4 performance with 10% organic revenue growth and a 20% increase in adjusted EPS, while setting optimistic guidance for 2025.