Trane forecasts annual profit above Wall Street estimates on AI data center cooling demand

• Strong commercial HVAC demand and a recovery in residential and transport markets are helping drive momentum into the second half of the year, CEO Dave Regnery said.
• Excluding items, Trane Technologies expects 2026 adjusted profit of $15.20 to $15.30 per share, the midpoint of which is above analysts' average estimates of $14.91 per share.
• Trane saw a 44% rise in quarterly bookings in its Americas segment and a 7% rise in its EMEA segment.
• The Ireland-based company, which makes heating, ventilation and air-conditioning systems, posted adjusted profit of $4.31 per share in the quarter ended June 30, compared with $3.88 a year ago.
• The company's quarterly revenue rose 11% to $6.35 billion, from $5.63 billion a year ago.
• Analysts on average expected second-quarter revenue of $6.2 billion, according to data compiled by LSEG.

July 30 (Reuters) - Trane Technologies forecast annual profit above Wall Street estimates on Thursday, benefiting from rising demand for cooling equipment driven by expanding AI-powered data center infrastructure.

Rising global temperatures linked to climate change have also boosted demand for air-conditioning systems, benefiting companies such as Trane as consumers and businesses rely more on cooling to deal with the heat.