The company completed acquisitions of MTA S.p.A., Helmer Scientific Inc., and Nuvolo Technologies Corporation in 2023, which are expected to enhance product and service portfolios.

Trane Technologies is pursuing its 2030 sustainability commitments, including reducing customer carbon emissions by one gigaton, and is making investments in new product development and technology innovation.

The company's backlog of orders increased to $6.93 billion at the end of 2023, compared to $6.88 billion at the end of 2022, indicating continued demand for its products and services.

The company has an effective supply chain resiliency plan and multiple capable sources to ensure sufficient supply, although certain categories of components could occasionally see limited availability or shortages.

The company is focused on reducing production costs, improving existing products, creating custom solutions for customers and providing support to its manufacturing facilities.

Trane Technologies is focused on creating a positive and inclusive culture, and offers programs to promote diversity, inclusion, and employee well-being.

The company's global operations are subject to economic risks including currency fluctuations, trade restrictions, and political instability, which could adversely affect its financial results.

The company faces risks related to commodity shortages, supply chain disruptions, and price volatility, which could increase costs and impact its ability to meet customer commitments.

The company is subject to risks related to cyberattacks, data security breaches, and disruptions to its information technology systems, which could negatively impact its business.

Trane Technologies operates in highly competitive markets with a wide variety of competitors, including well-established regional and specialized competitors and larger corporations.

The company's growth depends on the timely development and commercialization of new and enhanced products and services to meet customer demands and maintain a competitive edge.

Trane Technologies is one of the leading manufacturers in the world of HVAC systems and services and transport temperature control products and services.

Trane Technologies is making investments to improve manufacturing productivity, reduce costs, and enhance environmental performance at its facilities.

The company has implemented an effective supply chain resiliency plan and multiple capable sources to ensure sufficient supply of components.

The company is focused on managing costs effectively, including costs incurred to reduce production costs, improve existing products, and create custom solutions for customers.

Trane Technologies spent $252.3 million on research and development in 2023, focused on product and system sustainability improvements.

The company's R&D efforts are focused on increasing energy efficiency, developing products with lower global warming potential refrigerants, and designing products for circularity.

New product development programs complete a Design for Sustainability module within the NPD process to ensure that programs have a positive impact on sustainability.

The company repurchased approximately $669 million of ordinary shares in 2023 and increased its quarterly dividend by 12% in February 2024, reflecting management's confidence in future cash flow generation.

The company deployed capital of approximately $881 million in 2023 towards acquisitions and equity investments, indicating a focus on strategic growth opportunities.

The company's capital allocation strategy includes share repurchases, dividends, research and development, sustaining activities, business portfolio changes and ongoing restructuring actions.

Trane Technologies has announced ambitious 2030 Sustainability Commitments, including reducing customer carbon emissions by one gigaton and achieving carbon-neutral operations.

Trane Technologies is a member of Paradigm for Parity and OneTen, and a signatory to the CEO Action for Diversity and Inclusion pledge, demonstrating its commitment to diversity and inclusion.

The company offers various programs to support employee well-being, including a global Employee Assistance Program, a wellness platform, and financial relief programs.

The company expects market conditions to remain mixed, with strong commercial HVAC markets but lower demand in transport refrigeration and normalizing residential markets.

The company's performance may be impacted by geopolitical risks, macroeconomic events, tightening credit conditions, and higher interest rates.

Trane Technologies monitors key competitors and customers to gauge relative performance, proactively detect trends, and adapt its strategies accordingly.