TT · 10-Q · 2026Q3 · Full report

Segment Revenue Performance

Trane Technologies plc · 2026-10-29 · Importance 53 · Surprise 48

Third-quarter Americas revenue increased 21.1% to $5,647.9 million, with strong demand in Commercial HVAC, transport refrigeration and residential businesses; its Segment Adjusted EBITDA margin rose 40 basis points to 23.5%. EMEA revenue rose 0.8% to $755.8 million, while its margin fell 230 basis points to 18.7% amid inflation and lower Middle East volumes. Asia Pacific revenue increased 8.0% to $356.0 million, but its margin declined 360 basis points to 19.7%, primarily due to inflation. In the first nine months, Americas revenue grew 13.4% to $14,917.6 million, EMEA grew 3.0% to $2,092.9 million and Asia Pacific grew 8.3% to $1,072.1 million; EMEA and Asia Pacific margins declined 290 and 140 basis points, respectively.

Key facts

• The Americas segment’s third-quarter 2026 organic revenue increased 19.1%, comprising 18.5% volume and 0.6% pricing; acquisitions added 2.0%, for total segment revenue growth of 21.1%. source
• Americas nine-month 2026 organic revenue increased 11.8%, comprising 10.9% volume and 0.9% pricing; acquisitions added 1.5% and currency translation 0.1%, for total growth of 13.4%. source
• EMEA third-quarter 2026 organic revenue increased 2.0%, comprising 1.5% volume and 0.5% pricing; negative 1.2% currency translation brought total growth to 0.8%. source
• Asia Pacific third-quarter 2026 organic revenue increased 7.0%, comprising 8.0% volume and negative 1.0% pricing; 1.0% currency translation brought total growth to 8.0%. source
• EMEA nine-month 2026 organic revenue declined 0.8%, comprising negative 1.2% volume and 0.4% pricing; acquisitions added 0.8% and currency translation 3.0%, for total growth of 3.0%. source
• Asia Pacific nine-month 2026 organic revenue increased 6.7%, comprising 7.1% volume and negative 0.4% pricing; 1.6% currency translation brought total growth to 8.3%. source
• Americas organic revenue growth was led by strong demand in Commercial HVAC, Transport refrigeration and Residential, as well as realization of price increases. source
• EMEA organic revenue growth was driven by higher Commercial HVAC volumes in Europe and price realization, partly offset by lower volumes from the Middle East conflict. source