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Trane Technologies (TT) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 29, 2026 · Trane Technologies (TT) Q3 2026 earnings results →

Q3 2026 Revenue up 18% year over year to $6.8B · 16¢ of every $1 of revenue kept as net profit · operating margin 19.9%

Trane Technologies made $6.8B in Q3 2026 (+18% Y/Y). Operating margin 19.9%, net earnings $1.0B. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.

Revenue$6.8B

Year over year+18%

Operating margin19.9%

Net earnings$1.0B

Operating cash flow$1.3B

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $6.8B in Q3 2026, up 18% year over year and up 6% from the previous quarter.

Operating profit was $1.3B, a 19.9% margin (down 0.4 points year over year). Of the extra revenue versus Q3 2025, 17% reached operating profit, below the 20% margin then. Total costs grew 18% against revenue growth of 18%. The fastest-growing cost line was Cost of revenue (+21%). Net earnings were $1.0B, up 24% year over year. The effective tax rate was 17.3%.

Operating cash flow was $1.3B (up 31% year over year), 125% of net earnings. Non-cash charges added back $0.10B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $0.13B. Capital expenditures of $0.11B left free cash flow of $1.2B.

Quarterly history

Quarter	Form	Filed	Revenue	Y/Y	Op. margin	Net earnings	Op. cash flow
Q3 2026	10-Q	Oct 29, 2026	$6.8B	+18%	19.9%	$1.0B	$1.3B
Q2 2026	10-Q	Jul 30, 2026	$6.4B	+11%	19.3%	$926M	$1.1B
Q1 2026	10-Q	Apr 30, 2026	$5.0B	+6%	15.6%	$584M	$626M
Q4 2025	10-K	Feb 5, 2026	$5.1B	+6%	15.9%	$591M	$1.2B
Q3 2025	10-Q	Oct 30, 2025	$5.7B	+6%	20.3%	$848M	$1.0B
Q2 2025	10-Q	Jul 30, 2025	$5.7B	+8%	20.3%	$879M	$692M
Q1 2025	10-Q	Apr 30, 2025	$4.7B	+11%	17.5%	$605M	$340M

Charts

Latest (Q3 2026): Y/Y +18%, Q/Q +6%.

From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.

Latest (Q3 2026): Net income $1.1B, Operating cash flow $1.3B.

-7.5% since FY2020: buybacks shrank the count.

Cash $1.8B, short-term investments —, long-term debt $4.6B at 2025-12-31.

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