Analysts on Wall Street project that Trane Technologies (TT) will announce quarterly earnings of $4.74 per share in its forthcoming report, representing an increase of 22.2% year over year. Revenues are projected to reach $6.44 billion, increasing 12.1% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.4% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Bearing this in mind, let's now explore the average estimates of specific Trane Technologies metrics that are commonly monitored and projected by Wall Street analysts.
Analysts forecast 'Net Revenues- Americas' to reach $5.42 billion. The estimate indicates a change of +16.2% from the prior-year quarter.
The consensus estimate for 'Net Revenues- EMEA' stands at $734.96 million. The estimate indicates a year-over-year change of -2%.
The average prediction of analysts places 'Net Revenues- Asia Pacific' at $339.12 million. The estimate points to a change of +2.9% from the year-ago quarter.
Analysts expect 'Backlog - Total' to come in at $12.36 billion. Compared to the current estimate, the company reported $7.20 billion in the same quarter of the previous year.
Analysts predict that the 'Total Bookings' will reach $6.74 billion. Compared to the present estimate, the company reported $5.98 billion in the same quarter last year.
View all Key Company Metrics for Trane Technologies here>>>Shares of Trane Technologies have demonstrated returns of +0.7% over the past month compared to the Zacks S&P 500 composite's -0.8% change. With a Zacks Rank #2 (Buy), TT is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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This article originally published on Zacks Investment Research (zacks.com).