Trane Technologies raises annual profit forecast on resilient demand

(Reuters) -Trane Technologies raised its full-year profit forecast on Wednesday, after topping second-quarter earnings estimates on the back of strong demand for its heating and air-conditioning systems as well as higher pricing.

The Ireland-based company's Americas segment - its largest revenue generator - saw robust industrial and commercial demand, helping its quarterly sales to rise 9% to $4.69 billion from a year ago.

The firm, which owns transport refrigeration company Thermo King, in April flagged an annual cost impact estimate of $250 million to $275 million from tariffs. However, Trane had said it would aim to soften the blow with price hikes.

The company expects its 2025 adjusted profit to be about $13.05 per share, compared with its prior view of $12.70 to $12.90 per share.

Trane Technologies posted a second-quarter profit of $3.88 per share on an adjusted basis, beating analysts' average estimate of $3.79 per share, according to data compiled by LSEG.

Its quarterly revenue rose about 8% to $5.75 billion, falling marginally short of the $5.78 billion expected by analysts.

(Reporting by Utkarsh Shetti in Bengaluru; Editing by Shreya Biswas)