Ingersoll Rand 8-K
PositiveEarningsGuidance reaffirmed
Americas Commercial HVAC backlog grew ≈80%; FY2026 revenue growth guidance rose to ≈13.5% while EPS guidance held.
Filed 2026-10-29 06:40 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q3 2026 results; Trane Technologies raised full-year revenue guidance and reaffirmed full-year EPS guidance. Revenue rose 18% and organic bookings grew 20%, lifting backlog 73% to $12.5B, as demand was broad-based across segments. The company cited supply-chain and inflationary headwinds.
Key Figures
| Metric | Q3 2026 | 9M 2026 |
|---|---|---|
| Revenue | $6.76B, +18% Y/Y | $18.1B, +12% Y/Y |
| Operating income | $1.34B, +15% Y/Y | $3.34B, +6.2% Y/Y |
| Adjusted operating income, non-GAAP | $1.36B, +15% Y/Y | $3.41B, +9.8% Y/Y |
| Net earnings attributable to Trane Technologies plc | $1.05B, +24% Y/Y | $2.56B, +10% Y/Y |
| Diluted continuing EPS | $4.79, +25% Y/Y | $11.65, +12% Y/Y |
| Adjusted continuing EPS, non-GAAP | $4.86, +25% Y/Y | $11.79, +16% Y/Y |
| Cash from continuing operating activities | — | $3.06B, +49% Y/Y |
| Free cash flow, non-GAAP | — | $2.83B, +58% Y/Y |
| Bookings | $7.25B, +21% Y/Y | — |
| Backlog | $12.5B, +73% Y/Y | — |
- The Americas generated $5.65B of revenue, up 21% (19% organically), including about 2 percentage points from acquisitions. EMEA revenue was $756M, up 1% (2% organically, partly offset by about 1 percentage point of unfavorable foreign exchange); Asia Pacific revenue was $356M, up 8% (7% organically). EMEA and Asia Pacific adjusted operating margins fell 250 bp and 390 bp, respectively; the company-wide adjusted operating margin declined 40 bp to 20.2%.
- Bookings rose across all segments: Americas +18%, EMEA +40% and Asia Pacific +22%; book-to-bill exceeded 100% in each. Americas Commercial HVAC backlog was up approximately 80%.
- Through September, cash was $1.23B and debt was $4.22B, down $398M Y/Y. Through October, the company had deployed or committed approximately $3.4B of capital: $930M for dividends, $1.08B for M&A and $1.4B for share repurchases.
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| Reported revenue growth vs FY2025 | FY2026 | ≈13.5% | — | Raised |
| Organic revenue growth vs FY2025 | FY2026 | ≈11% | — | Raised |
| GAAP continuing EPS | FY2026 | ≈$15.00-$15.10, including $0.20 for non-GAAP adjustments | — | Reaffirmed |
| Adjusted continuing EPS, non-GAAP | FY2026 | $15.20-$15.30 | — | Reaffirmed |
Guidance changes, derived from earlier filings
| Metric | Period | Earlier guidance | Guidance now | Change |
|---|---|---|---|---|
| GAAP continuing EPS | FY2026 | ≈$15.00-$15.10, including $0.20 of non-GAAP adjustments | ≈$15.00-$15.10, including $0.20 for non-GAAP adjustments | reaffirmed |
| Adjusted continuing EPS, non-GAAP | FY2026 | $15.20-$15.30 | $15.20-$15.30 | reaffirmed |
Investor Takeaways
- Watch whether bookings convert into revenue and sustain backlog growth; continued broad-based bookings growth would support the company’s raised FY2026 revenue outlook.
- Watch segment margins, particularly in EMEA and Asia Pacific, for improvement amid the company’s cited supply-chain and inflationary headwinds.
The summary is written by an AI model reading the filing.
Model 005 · prompt v111 · 2026-10-29 14:41:58Z