Filing Flows › Trane Technologies (TT) › Q1 2026
Trane Technologies (TT) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
Trane Technologies (TT) reported revenue of $5.0B for the first quarter 2026 (Q1 2026), +6% from a year earlier and -3% from the quarter before. Operating margin was 15.6%, net earnings $584M (11.8% of revenue).
Trane Technologies, Q1 2026: revenue $5.0B (+6% year over year), operating margin 15.6%, net earnings $584M, operating cash flow $626M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.0B | -3% | +6% |
| Operating profit | $776M | -5% | -5% |
| Net earnings | $584M | -1% | -3% |
| Operating cash flow | $626M | -46% | +84% |
| Free cash flow | $546M | -48% | +148% |
What changed
Revenue was $5.0B in Q1 2026, up 6% year over year and down 3% from the previous quarter.
Operating profit was $0.78B, a 15.6% margin (down 1.8 points year over year). Operating profit fell $0.04B even though revenue rose $0.28B versus Q1 2025, so costs grew faster than sales. Total costs grew 8% against revenue growth of 6%. The fastest-growing cost line was SG&A (+11%). Net earnings were $0.58B, down 3% year over year. The effective tax rate was 18.8%.
Operating cash flow was $0.63B (up 84% year over year), 106% 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 used $0.09B. Capital expenditures of $0.08B left free cash flow of $0.55B.
Questions
What was Trane Technologies' revenue in the first quarter 2026?
Trane Technologies (TT) reported revenue of $5.0B for the first quarter 2026 (Q1 2026), +6% from a year earlier and -3% from the quarter before.
Was Trane Technologies profitable in the first quarter 2026?
Operating profit was $776M (15.6% of revenue) and net earnings $584M.
Source: Trane Technologies 10-Q on SEC EDGAR.