Trane Tech

Q2 FY2026 EarningsQ2 FY26 delivered a strong beat on the top and bottom lines, with revenue of $6.35B vs. $6.20B expected and adjusted EPS of $4.31 exceeding the $4.26 consensus. Record bookings of $7.8B (up 37% organic) and a $12.1B backlog were driven by 50% growth in Americas Commercial HVAC. Although adjusted operating margins contracted 60 bps YoY to 19.7%, management raised full-year 2026 organic revenue growth guidance to ~9% and adjusted EPS to $15.20-$15.30, signaling robust AI-driven data center and sustainability demand.