Trane Technologies plc (TT), while reporting higher first-quarter results above market estimates, on Wednesday issued fiscal 2025 earnings outlook on a reported basis, and raised sales growth view. Further, the firm maintained forecast for adjusted earnings and organic revenue growth.
The company said it expects to perform towards the high-end of revenue and earnings per share guidance.
In pre-market activity on the NYSE, Trane shares were gaining around 5.4 percent to trade at $372.60.
For the year, the company expects continuing earnings per share on a reported basis of approximately $12.95 to $13.15, including $0.25 for one-time items.
The company continues to expect adjusted continuing earnings per share of $12.70 to $12.90 for the year.
The Wall Street analysts on average expect the company to report earnings of $12.76 per share. Analysts' estimates typically exclude special items.
Further, Trane now expects full-year reported revenue growth of approximately 7.5 percent to 8.5 percent, higher than previously expected approximately 6.5 percent to 7.5 percent revenue growth.
Organic revenue growth is still projected to be approximately 7 percent to 8 percent.
In the first quarter, the company's bottom line came in at $604.9 million, or $2.67 per share, compared with $436.3 million, or $1.90 per share, last year.
Adjusted earnings were $554.1 million or $2.45 per share for the period. Analysts had expected the company to earn $2.20 per share.
The company's revenue for the period rose 11.2 percent to $4.688 billion from $4.215 billion last year. The Street expected revenues of $4.46 billion.
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