Filing Flows › Trane Technologies (TT) › Q2 2026 › vs Q1 2026
Trane Technologies (TT) Q2 2026 vs Q1 2026 (quarter over quarter)
Trane Technologies's revenue rose $1.4B (+28%) from $5.0B in Q1 2026 to $6.4B in Q2 2026. Operating margin 19.3% against 15.6% (+3.7 pts).
Trane Technologies, Q2 2026: revenue $6.4B (+11% year over year), operating margin 19.3%, net earnings $926M, operating cash flow $1.1B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 19.3% | 15.6% | +3.7 pts |
| Net margin | 14.6% | 11.8% | +2.8 pts |
| Free cash flow margin | 15.9% | 11.0% | +4.9 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $6.4B | $5.0B | $1.4B | +28% |
| Operating profit | $1.2B | $776M | $448M | +58% |
| Costs & expenses | $5.1B | $4.2B | $936M | +22% |
| Pre-tax earnings | $1.2B | $726M | $428M | +59% |
| Other expense, net | $70.8M | $50.3M | $20.5M | +41% |
| Cost of revenue | $4.1B | $3.2B | $852M | +26% |
| SG&A | $1.0B | $952M | $83.4M | +9% |
| Net earnings | $926M | $584M | $341M | +58% |
| Minority interests | $9.6M | $5.1M | $4.5M | +88% |
| Income tax | $218M | $136M | $81.9M | +60% |
| Depreciation & amortization | $110M | $101M | $8.9M | +9% |
| Share-based compensation | $24.8M | $26.8M | −$2.0M | -7% |
| Working capital & other | $27.2M | −$86.1M | $113M | — |
| Operating cash flow | $1.1B | $626M | $462M | +74% |
| Free cash flow (OCF − capex) | $1.0B | $546M | $465M | +85% |
| Capital expenditures | $76.4M | $79.7M | −$3.3M | -4% |
Questions
How much did Trane Technologies's revenue grow quarter over quarter in Q2 2026?
Trane Technologies's revenue rose $1.4B (+28%) from $5.0B in Q1 2026 to $6.4B in Q2 2026. Operating margin 19.3% against 15.6% (+3.7 pts).