Trane Technologies plc TT is set to report first-quarter 2024 earnings on Apr 30, 2024, before the bell.
The company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the past four quarters, delivering an average surprise of 4.5%.
Trane Technologies plc Price and EPS Surprise
Trane Technologies plc price-eps-surprise | Trane Technologies plc Quote
Expectations This Time Around
The consensus estimate for TT’s revenues in the to-be-reported quarter is pegged at $3.99 billion, indicating 8.8% growth from the year-ago figure. The top line is expected to have benefited from improved customer demand in the Americas, Asia Pacific and Europe, Middle East and Africa (EMEA) segments.
We expect Americas’ revenues to jump 7.3% from the year-ago actual figure to $3.07 billion. Our prediction for revenues from EMEA is pegged at $603.6 million, indicating 18.2% year-over-year growth. Asia Pacific revenues are suggested to be $314 million, implying a 6.7% rise from the prior-year levels.
The consensus mark for TT's EPS in the to-be-reported quarter is pegged at $1.64 per share, hinting at 16.3% year-over-year growth. The bottom line is likely to have gained from operating strength.
What Our Model Says
Our proven Zacks model predicts a likely earnings beat for Trane Technologiesthis season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Trane Technologies has an Earnings ESP of +1.01% and a Zacks Rank #3.
Stocks That Warrant a Look
Here are a few stocks from the broader Business Services sector, which, according to our model, also have the right combination of elements to beat on earnings this season.
AppLovin APP: The Zacks Consensus Estimate for the company’s first-quarter 2024 revenues is pegged at $969.9 million, indicating a rise of 35.6% from the year-ago quarter’s reported figure. For earnings, the consensus mark is pegged at 57 cents per share, suggesting a rise of more than 100% from the year-ago quarter’s actual. The company beat the consensus estimate in three of the past four quarters and missed once, with an average surprise of 26.5%.
APP has an Earnings ESP of +2.66% and currently sports a Zacks Rank of 3. The company is scheduled to post its first-quarter results on May 8. You can see the complete list of today’s Zacks #1 Rank stocks here.
Charles River Associates CRAI: The Zacks Consensus Estimate for the company’s first-quarter 2024 revenues is pegged at $160.7 million, indicating 5.1% growth from the year-ago quarter’s reported figure. For earnings, the consensus mark is pegged at $1.4 per share, suggesting a 7.8% rise from the year-ago quarter’s actual. The company beat the consensus estimate in two of the past four quarters and missed on the other two, with an average surprise of 8.1%.
CRAI currently has an Earnings ESP of +0.54% and a Zacks Rank of 1. The company is scheduled to declare its first-quarter results on May 2.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
