TT · 10-Q · 2026Q3 · Full report
Capital Expenditures and Cash Flow
Trane Technologies plc · 2026-10-29 · Importance 58 · Surprise 56 · No source text
Nine-month operating cash flow increased to $3,060.1 million in 2026 from $2,054.1 million in 2025, primarily reflecting lower working capital, timing of customer down payments and higher adjusted net income. Capital expenditures were $264.2 million, compared with $277.2 million in the prior-year period. Free cash flow was $2,827.5 million, up from $1,786.0 million. Investing cash outflow totaled $1,090.3 million, including $822.9 million for acquisitions and equity-method investments, net of cash acquired.
Key facts
- Trane Technologies’ nine-month 2026 free cash flow was $2,827.5 million, compared with $1,786.0 million in 2025. source
- Net cash provided by continuing operating activities for the nine months ended September 30, 2026 was $3,060.1 million, compared with $2,054.1 million in 2025; the increase primarily reflected lower working capital, customer-down-payment timing and higher adjusted net income. source
- Trane Technologies used $1,090.3 million of net cash in continuing investing activities in the first nine months of 2026, including $264.2 million of capital expenditures and $822.9 million for acquisitions and equity method investments, net of acquired cash. source
- Trane Technologies used $2,456.0 million of net cash in continuing financing activities in the first nine months of 2026, including $1,338.5 million of share repurchases, $693.7 million of dividends and repayment of $400.0 million of 3.500% Senior Notes maturing in March 2026. source
- Trane Technologies used $2,057.1 million of net cash in continuing financing activities in the first nine months of 2025, including $1,250.0 million of share repurchases, $629.1 million of dividends and repayment of $157.3 million of debentures maturing in June 2025. source
- Trane Technologies used $554.6 million of net cash in continuing investing activities in the first nine months of 2025, including $277.2 million of capital expenditures and $277.4 million for acquisitions, net of acquired cash. source
- Trane Technologies’ research and development and sustaining costs were approximately 2% of annual net revenues. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | realized | -10.3% | Trane Technologies used $2,456.0 million of net cash in continuing financing activities in the first nine months of 2026, including… |
| cash | negative | realized | -4.6% | Trane Technologies used $1,090.3 million of net cash in continuing investing activities in the first nine months of 2026, including $264.2… |
| cash | positive | realized | +4.4% | Trane Technologies’ nine-month 2026 free cash flow was $2,827.5 million, compared with $1,786.0 million in 2025. |
| cash | positive | realized | +4.2% | Net cash provided by continuing operating activities for the nine months ended September 30, 2026 was $3,060.1 million, compared with… |