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l | Continuing EPS of $2.11, up 50 percent; adjusted continuing EPS* of $1.75, up 22 percent |
l | Reported and organic bookings* up 11 percent; sustained growth in Climate and Industrial |
l | Reported and organic revenues* up 10 percent; continued strength in Climate and Industrial |
l | Operating margin expansion of 80 bps; adjusted operating margin* higher by 100 bps |
l | Continuing EPS guidance is raised to between $5.70 - $5.75 and adjusted continuing EPS guidance is raised to between $5.55 - $5.60 for full year 2018 |
*This news release contains non-GAAP financial measures. Definitions of the non-GAAP financial measures can be found in the footnotes of this news release. See attached tables for additional details and reconciliations. |
$, millions except EPS | Q3 2018 | Q3 2017 | Y-O-Y Change | Organic Y-O-Y Change |
Bookings | $4,050 | $3,646 | 11% | 11% |
Net Revenues | $4,031 | $3,671 | 10% | 10% |
Operating Income | $587 | $506 | 16% | |
Operating Margin | 14.6% | 13.8% | 0.8 PPts | |
Adjusted Operating Income* | $607 | $516 | 18% | |
Adjusted Operating Margin | 15.1% | 14.1% | 1.0 PPts | |
Continuing EPS | $2.11 | $1.41 | 50% | |
Adjusted Continuing EPS | $1.75 | $1.44 | 22% | |
Restructuring Cost | ($20.1) | ($10.0) | ($10.1) |
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Trane Technologies Plc's Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:
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Improvements in accounts payable were more than offset by the seasonal increase to inventory balances and higher outstanding accounts receivable from higher sales volumes.
We seek to achieve this goal while trying to mitigate volatility in plan funded status, contribution and expense by better matching the characteristics of the plan assets to that of the plan liabilities.
We use a dynamic approach to asset allocation whereby a plans allocation to fixed income assets increases as the plans funded status improves.
Improvements in accounts payable were more than offset by the seasonal increase to inventory balances and higher outstanding accounts receivable.
Higher volumes and incremental operating income from acquisitions further contributed to the year-over-year increase.
Higher volumes and incremental operating...Read more
Higher volumes and incremental operating...Read more
In addition, the lower effective...Read more
These amounts were partially offset...Read more
These amounts were partially offset...Read more
Improved pricing, along with incremental...Read more
Improved pricing, along with incremental...Read more
Higher volumes and improved pricing...Read more
Higher volumes and improved pricing...Read more
Higher volumes and improved pricing...Read more
Higher volumes and improved pricing...Read more
Lower functional costs and the...Read more
To achieve our mission of...Read more
Operating margin increased to 14.6%...Read more
Operating margin increased to 16.5%...Read more
Operating margin increased to 14.0%...Read more
Operating margin increased to 12.5%...Read more
Operating margin increased to 14.8%...Read more
Operating margin increased to 12.0%...Read more
In June 2018, we announced...Read more
In June 2018, we announced...Read more
Unallocated corporate expense for the...Read more
However, each segment was impacted...Read more
Our growing geographic and industry...Read more
In addition, incremental operating income...Read more
The increase was primarily the...Read more
The increase was primarily the...Read more
The increase was primarily the...Read more
In addition, we incur ongoing...Read more
Interest expense for the three...Read more
They are subject to future...Read more
The increase was primarily driven...Read more
The increase was primarily driven...Read more
Factors that might cause a...Read more
In February 2017, our Board...Read more
In October 2018, our Board...Read more
In February 2017, our Board...Read more
In October 2018, our Board...Read more
Other income expense, net includes...Read more
Other income expense, net includes...Read more
Our investment objective in managing...Read more
Some of the significant risks...Read more
We adopted this standard on...Read more
However, to the extent that...Read more
In 2018, we expect growth...Read more
Unallocated corporate expenses for the...Read more
Net revenues for the three...Read more
Net revenues for the nine...Read more
In addition, each segment benefited...Read more
interest rate fluctuations and other...Read more
There may also be other...Read more
The effective tax rate for...Read more
The increase primarily relates to...Read more
Global Industrial markets are showing...Read more
Net revenues for the three...Read more
Net revenues for the three...Read more
Net revenues for the nine...Read more
Net revenues for the nine...Read more
Repurchases under this program, which...Read more
Repurchases under this program, which...Read more
changes in tax laws and...Read more
SAB 118 which provides guidance...Read more
In addition, net cash used...Read more
We have outstanding $343.0 million...Read more
The effective tax rate for...Read more
In accordance with SAB 118,...Read more
The increase was primarily the...Read more
The increase was primarily the...Read more
The increase was primarily the...Read more
Since the beginning of 2018,...Read more
Interest expense for the nine...Read more
impairment of our goodwill, indefinite-lived...Read more
We believe we have a...Read more
In doing so, we review...Read more
Heating, Ventilation, and Air Conditioning...Read more
Our primary sources of liquidity...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-Q Quarterly Report
Material Contracts, Statements, Certifications & more
Trane Technologies Plc provided additional information to their SEC Filing as exhibits
CIK: 1466258
Form Type: 10-Q Quarterly Report
Accession Number: 0001466258-18-000221
Submitted to the SEC: Wed Oct 24 2018 3:43:03 PM EST
Accepted by the SEC: Wed Oct 24 2018
Period: Sunday, September 30, 2018
Industry: Auto Controls For Regulating Residential And Comml Environments