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Trane bookings up 7% in Q3

IRELAND: Trane Technologies’ bookings rose 7% to $3,490m in Q3, despite ongoing Covid-19 pandemic related impacts.

The company, which formally separated its commercial and residential heating and cooling business, building controls and transport refrigeration sectors from Ingersoll-Rand at the beginning of March, also reported revenues up 1% to $3,496m compared to 2019.

“In the third quarter, we significantly outperformed challenging end markets and delivered both revenue growth and margin expansion, exceeding our prior outlook and enabling us to again raise our outlook for 2020,” said Trane chairman and CEO Mike Lamach.

“We continue to see growing interest in the latest technologies for indoor air quality, energy management and precision temperature control for safe movement of food, medicines and vaccines,” he added.

The main drivers to the bookings increase came from Americas and EMEA, up 8% and 9% respectively. 

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