Atkore Inc. Announces Participation at Upcoming Investor Conferences
Citi's Global Industrial Tech and Mobility Conference, February 18, 2025, Miami Beach – Bill Waltz, President and Chief Executive Officer, and John Deitzer, Chief Financial Officer, are scheduled to participate in a fireside chat and investor meetings. A webcast link of the live fireside chat, scheduled for 2:40pm eastern, will be available on the Investor Relations site of Atkore.com ( https://investors.atkore.com/investors/events-and-presentations/default.aspx). A replay of the webcast will be available on the same website until Wednesday, February 18, 2026.
Barclays 42 nd Annual Industrial Select Conference, February 19, 2025, Miami Beach – John Deitzer and Matt Kline, Vice President of Treasury & Investor Relations, are scheduled to participate in investor meetings.
J.P. Morgan Global High Yield & Leveraged Finance Conference, February 25, 2025, Miami Beach – John Deitzer and Matt Kline are scheduled to participate in investor meetings.
Loop Capital Markets 6 th Annual Investor Conference, March 11, 2025, New York City – John Pregenzer, Chief Operating Officer and President – Electrical and Matt Kline are scheduled to participate in investor meetings.
37 th Annual ROTH Conference, March 17, 2025, Dana Point – Matt Kline is scheduled to participate in investor meetings.
To learn more about Atkore Inc. please visit the company's website at https://investors.atkore.com/overview/default.aspx.
About Atkore Inc.
Atkore is a leading manufacturer of electrical products for commercial, industrial, data center, telecommunications, and solar applications. With 5,600 employees and $3.2B in sales in fiscal year 2024, we deliver sustainable solutions to meet the growing demands of electrification and digital transformation. To learn more, please visit www.atkore.com.
Atkore intends to make future announcements regarding company developments and financial performance through its website, www.atkore.com, as well as through press releases, filings with the Securities and Exchange Commission, conference calls, media broadcasts, and webcasts.
Lisa Winter
Vice President - Communications
708-225-2453
[email protected] Contact:
Matthew Kline
Vice President - Treasury & Investor Relations
708-225-2116
[email protected]
INDUSTRY KEYWORD: HARDWARE MACHINE TOOLS, METALWORKING & METALLURGY OTHER CONSTRUCTION & PROPERTY TECHNOLOGY SEMICONDUCTOR CONSTRUCTION & PROPERTY STEEL ENGINEERING CHEMICALS/PLASTICS BUILDING SYSTEMS MANUFACTURING TELECOMMUNICATIONS
SOURCE: Atkore Inc.
Copyright Business Wire 2025.
PUB: 02/06/2025 05:00 PM/DISC: 02/06/2025 05:00 PM
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Trane Technologies Reports Strong Second Quarter Results; Raises Full-Year Revenue and EPS Guidance
Highlights (second-quarter 2025 versus second-quarter 2024, unless otherwise noted): Record enterprise bookings of $5.6 billion, up 5 percent; organic bookings up 4 percent Bookings strength led by Americas Commercial HVAC applied solutions up over 60 percent GAAP continuing EPS of $3.87; adjusted continuing EPS* of $3.88, up 18 percent Enterprise backlog of $7.1 billion, up 6 percent versus year-end 2024 *This news release contains non-GAAP financial measures. Definitions of the non-GAAP financial measures can be found in the footnotes of this news release. See attached tables for additional details and reconciliations. SWORDS, Ireland, July 30, 2025--(BUSINESS WIRE)--Trane Technologies plc (NYSE:TT), a global climate innovator, today reported diluted earnings per share (EPS) from continuing operations of $3.87 for the second quarter of 2025. Adjusted continuing EPS was $3.88, up 18 percent. Second-Quarter 2025 Results Financial Comparisons - Second-Quarter Continuing Operations $, millions except EPS Q2 2025 Q2 2024 Y-O-Y Change Organic Y-O-Y Change Bookings $5,626 $5,340 5% 4% Net Revenues $5,746 $5,307 8% 7% GAAP Operating Income $1,164 $1,034 13% GAAP Operating Margin 20.3% 19.5% 80 bps Adjusted Operating Income* $1,166 $1,027 14% Adjusted Operating Margin* 20.3% 19.4% 90 bps Adjusted EBITDA* $1,250 $1,119 12% Adjusted EBITDA Margin* 21.8% 21.1% 70 bps GAAP Continuing EPS $3.87 $3.33 16% Adjusted Continuing EPS $3.88 $3.30 18% Pre-Tax Non-GAAP Adjustments, net** $2.0 $(7.1) $9.1 **For details see table 2 and 3 of the news release. "In the second quarter, we continued our consistent track record of leading financial results with record enterprise bookings and revenue and 18 percent earnings per share growth," said Dave Regnery, chair and CEO, Trane Technologies. "Our performance continues to be led by Americas Commercial HVAC, with strong demand for our sustainable solutions across a broad base of highly complex projects. In the second quarter, orders for our bespoke applied solutions were up over 60 percent, adding to our backlog and our visibility to future equipment and services revenues. With our leading innovation, elevated backlog and strong financial position, we are confident in raising our full year revenue and EPS guidance and are well positioned to deliver differentiated shareholder value over the long term." Highlights from the Second Quarter of 2025 (all comparisons against second-quarter 2024 unless otherwise noted) Delivered strong revenue, operating income, EBITDA and EPS growth. Strong bookings of $5.6 billion, up 5 percent; organic bookings up 4 percent. Bookings strength led by Commercial HVAC up mid-teens, with a book-to bill greater than 100 percent in Commercial HVAC in all regions. Backlog of $7.1 billion was up 6 percent versus year-end 2024 and down approximately $125 million sequentially as growth in Commercial HVAC backlog was offset by declines in Residential and Transport. Enterprise reported revenues were up 8 percent; organic revenues were up 7 percent. GAAP operating margin was up 80 basis points, adjusted operating margin was up 90 basis points and adjusted EBITDA margin was up 70 basis points. Strong volume growth, positive price realization and productivity more than offset inflation. The Company also continued high levels of business reinvestment. Second-Quarter Business Review (all comparisons against second-quarter 2024 unless otherwise noted) Americas Segment: innovates for customers in the North America and Latin America regions. The Americas segment encompasses commercial heating, cooling and ventilation systems, building controls and solutions, energy services and solutions, residential heating and cooling; and transport refrigeration systems and solutions. $, millions Q2 2025 Q2 2024 Y-O-Y Change Organic Y-O-Y Change Bookings $4,543.5 $4,221.9 8% 7% Net Revenues $4,692.3 $4,290.9 9% 9% GAAP Operating Income $1,052.5 $912.1 15% GAAP Operating Margin 22.4% 21.3% 110 bps Adjusted Operating Income $1,052.8 $903.9 16% Adjusted Operating Margin 22.4% 21.1% 130 bps Adjusted EBITDA $1,125.3 $978.2 15% Adjusted EBITDA Margin 24.0% 22.8% 120 bps Strong bookings of $4.5 billion, up 8 percent; organic bookings up 7 percent. Bookings strength led by Americas Commercial HVAC, up over 20 percent. Reported and organic revenues were both up 9 percent. GAAP operating margin was up 110 basis points, adjusted operating margin was up 130 basis points and adjusted EBITDA margin was up 120 basis points. Strong volume growth, positive price realization and productivity more than offset inflation. The Company also continued high levels of business reinvestment. Europe, Middle East and Africa (EMEA) Segment: innovates for customers in the Europe, Middle East and Africa region. The EMEA segment encompasses heating, cooling and ventilation systems, services and solutions for commercial buildings and transport refrigeration systems and solutions. $, millions Q2 2025 Q2 2024 Y-O-Y Change Organic Y-O-Y Change Bookings $704.7 $669.4 5% (2)% Net Revenues $707.9 $645.3 10% 3% GAAP Operating Income $122.7 $120.7 2% GAAP Operating Margin 17.3% 18.7% (140) bps Adjusted Operating Income $122.7 $121.0 1% Adjusted Operating Margin 17.3% 18.8% (150) bps Adjusted EBITDA $129.5 $131.0 (1)% Adjusted EBITDA Margin 18.3% 20.3% (200) bps Bookings were up 5 percent; organic bookings were down 2 percent. Reported revenues were up 10 percent including approximately 5 percentage points of positive foreign exchange impact and 2 percentage points related to acquisitions. Organic revenues were up 3 percent. GAAP operating margin was down 140 basis points; adjusted operating margin was down 150 basis points and adjusted EBITDA margin was down 200 basis points. Continued high levels of business reinvestment and inflation offset volume growth and productivity. Asia Pacific Segment: innovates for customers throughout the Asia Pacific region. The Asia Pacific segment encompasses heating, cooling and ventilation systems, services and solutions for commercial buildings and transport refrigeration systems and solutions. $, millions Q2 2025 Q2 2024 Y-O-Y Change Organic Y-O-Y Change Bookings $377.7 $448.8 (16)% (17)% Net Revenues $346.2 $371.2 (7)% (8)% GAAP Operating Income $73.7 $89.3 (17)% GAAP Operating Margin 21.3% 24.1% (280) bps Adjusted Operating Income $74.7 $89.3 (16)% Adjusted Operating Margin 21.6% 24.1% (250) bps Adjusted EBITDA $80.8 $94.8 (15)% Adjusted EBITDA Margin 23.3% 25.5% (220) bps Bookings were down 16 percent. Organic bookings were down 17 percent. Reported revenues were down 7 percent including approximately 1 percentage point of positive foreign exchange impact. Organic revenues were down 8 percent. GAAP operating margin was down 280 basis points, adjusted operating margin was down 250 basis points and adjusted EBITDA margin was down 220 basis points. Continued high levels of business reinvestment, lower volumes and inflation offset productivity. Balance Sheet and Cash Flow $, millions Q2 2025 Q2 2024 Y-O-Y Change Cash From Continuing Operating Activities Y-T-D $1,044 $959 $85 Free Cash Flow Y-T-D* $841 $810 $31 Working Capital/Revenue* 3.7% 4.2% (50 bps) Cash Balance June 30 $774 $1,326 ($552) Debt Balance June 30 $4,615 $5,268 ($653) Through June 30, 2025, cash flow from continuing operating activities was approximately $1 billion and free cash flow was $841 million. Year-to-date through July, the Company deployed or committed approximately $1.8 billion of capital including approximately $420 million for dividends, $275 million for M&A, $1 billion for share repurchases and $150 million for debt retirement. The Company expects to pay a competitive and growing dividend and to deploy 100 percent of excess cash to shareholders over time. Company Raises Full-Year 2025 Guidance The Company expects full-year 2025 reported revenue growth of approximately 9 percent, including 100 basis points related to acquisitions, and organic revenue growth of approximately 8 percent versus full-year 2024. The Company expects GAAP continuing EPS for full-year 2025 of approximately $13.30, including $0.25 for non-GAAP adjustments. The Company expects adjusted continuing EPS for full-year 2025 of approximately $13.05. Additional information regarding the Company's 2025 guidance is included in the Company's second-quarter earnings presentation found at in the Investor Relations section. This news release includes "forward-looking" statements within the meaning of securities laws, which are statements that are not historical facts, including statements that relate to our future financial performance and targets, including revenue, EPS, and earnings; our business operations; demand for our products and services, including bookings and backlog; capital deployment, including the amount and timing of our dividends, our share repurchase program, anticipated capital commitments for M&A activity, and our capital allocation strategy; our available liquidity; our anticipated revenue growth, and the performance of the markets in which we operate. These forward-looking statements are based on our current expectations and are subject to risks and uncertainties, which may cause actual results to differ materially from our current expectations. Such factors include, but are not limited to, global economic conditions, including recessions and economic downturns, inflation, volatility in interest rates and foreign exchange; trade protection measures such as import or export restrictions, tariffs, or quotas; changing energy prices; worldwide geopolitical conflict; financial institution disruptions; climate change and our sustainability strategies and goals; future health care emergencies on our business, our suppliers and our customers; commodity shortages; price increases; government regulation; restructurings activity and cost savings associated with such activity; secular trends toward decarbonization, energy efficiency and internal air quality, the outcome of any litigation, including the risks and uncertainties associated with the Chapter 11 proceedings for our deconsolidated subsidiaries Aldrich Pump LLC and Murray Boiler LLC; cybersecurity risks; and tax audits and tax law changes and interpretations. Additional factors that could cause such differences can be found in our Form 10-K for the year ended December 31, 2024, as well as our subsequent reports on Form 10-Q and other SEC filings. New risks and uncertainties arise from time to time, and it is impossible for us to predict these events and how they may affect the Company. We assume no obligation to update these forward-looking statements. This news release also includes non-GAAP financial information, which should be considered supplemental to, not a substitute for, or superior to, the financial measure calculated in accordance with GAAP. The definitions of our non-GAAP financial information and reconciliation to GAAP are attached to this news release. All amounts reported within the earnings release above related to net earnings (loss), earnings (loss) from continuing operations, earnings (loss) from discontinued operations, adjusted EBITDA and per share amounts are attributed to Trane Technologies' ordinary shareholders. Trane Technologies (NYSE:TT) is a global climate innovator. Through our strategic brands Trane® and Thermo King®, and our portfolio of environmentally responsible products and services, we bring efficient and sustainable climate solutions to buildings, homes and transportation. For more information, visit # # # 7/30/2025 (See Accompanying Tables) Table 1: Condensed Consolidated Income Statement Tables 2 - 5: Reconciliation of GAAP to Non-GAAP Table 6: Condensed Consolidated Balance Sheets Table 7: Condensed Consolidated Statement of Cash Flows Table 8: Balance Sheet Metrics and Free Cash Flow *Q2 and Year-to-Date Non-GAAP measures definitions Adjusted operating income in 2025 is defined as GAAP operating income adjusted for restructuring costs, merger and acquisition transaction costs, and a non-cash adjustment for contingent consideration. Adjusted operating income in 2024 is defined as GAAP operating income adjusted for restructuring costs, merger and acquisition transaction costs, legacy legal liability, and a non-cash adjustment for contingent consideration. Please refer to the reconciliation of GAAP to non-GAAP measures on tables 2, 3 and 4 of the news release. Adjusted operating margin is defined as the ratio of adjusted operating income divided by net revenues. Adjusted earnings from continuing operations attributable to Trane Technologies plc (Adjusted net earnings) in 2025 is defined as GAAP earnings from continuing operations attributable to Trane Technologies plc adjusted for net of tax impacts of restructuring costs, merger and acquisition transaction costs, and a non-cash adjustment for contingent consideration. Adjusted net earnings in 2024 is defined as GAAP earnings from continuing operations attributable to Trane Technologies plc adjusted for net of tax impacts of restructuring costs, merger and acquisition transaction costs, legacy legal liability, and a non-cash adjustment for contingent consideration. Please refer to the reconciliation of GAAP to non-GAAP measures on tables 2 and 3 of the news release. Adjusted continuing EPS in 2025 is defined as GAAP continuing operations attributable to Trane Technologies plc adjusted for net of tax impacts of restructuring costs, merger and acquisition transaction costs, and a non-cash adjustment for contingent consideration. Adjusted continuing EPS in 2024 is defined as GAAP continuing operations attributable to Trane Technologies plc adjusted for net of tax impacts of restructuring costs, merger and acquisition transaction costs, legacy legal liability, and a non-cash adjustment for contingent consideration. Please refer to the reconciliation of GAAP to non-GAAP measures on tables 2 and 3 of the news release. Adjusted EBITDA in 2025 is defined as adjusted operating income adjusted to exclude depreciation and amortization expense and include other income / (expense), net. Adjusted EBITDA in 2024 is defined as adjusted operating income adjusted to exclude depreciation and amortization expense and include other income / (expense), net. Other income / (expense), net mainly comprises interest income, foreign currency exchange gains and losses and certain components pension and postretirement benefit costs. Please refer to the reconciliation of GAAP to non-GAAP measures on tables 4 and 5 of the news release. Adjusted EBITDA margin is defined as the ratio of adjusted EBITDA divided by net revenues. Adjusted effective tax rate for 2025 is defined as the ratio of income tax expense adjusted for the net tax effect of adjustments for restructuring costs and merger and acquisition transaction costs divided by adjusted net earnings. Adjusted effective tax rate for 2024 is defined as the ratio of income tax expense adjusted for the net tax effect of adjustments for restructuring costs, merger and acquisition transaction costs, and legacy legal liability divided by adjusted net earnings. This measure allows for a direct comparison of the effective tax rate between periods. Free cash flow in 2025 is defined as net cash provided by (used in) continuing operating activities adjusted for capital expenditures, cash payments for restructuring costs, legacy legal liability, and merger and acquisition transaction costs. Free cash flow in 2024 is defined as net cash provided by (used in) continuing operating activities adjusted for capital expenditures, cash payments for restructuring costs, legacy legal liability, and merger and acquisition transaction costs. Please refer to the free cash flow reconciliation on table 8 of the news release. Operating leverage is defined as the ratio of the change in adjusted operating income for the current period (e.g. Q2 2025) less the prior period (e.g. Q2 2024), divided by the change in net revenues for the current period less the prior period. Organic revenue is defined as GAAP net revenues adjusted for the impact of currency and acquisitions. Organic bookings is defined as reported orders in the current period adjusted for the impact of currency and acquisitions. Working capital measures a firm's operating liquidity position and its overall effectiveness in managing the enterprise's current accounts. Working capital is calculated by adding net accounts and notes receivables and inventories and subtracting total current liabilities that exclude short-term debt, dividend payable and income tax payables. Working capital as a percent of revenue is calculated by dividing the working capital balance (e.g. as of June 30) by the annualized revenue for the period (e.g. reported revenues for the three months ended June 30 multiplied by 4 to annualize for a full year). The Company reports its financial results in accordance with generally accepted accounting principles in the United States (GAAP). The following schedules provide non-GAAP financial information and a quantitative reconciliation of the difference between the non-GAAP financial measures and the financial measures calculated and reported in accordance with GAAP. The non-GAAP financial measures should be considered supplemental to, not a substitute for or superior to, financial measures calculated in accordance with GAAP. They have limitations in that they do not reflect all of the costs associated with the operations of our businesses as determined in accordance with GAAP. In addition, these measures may not be comparable to non-GAAP financial measures reported by other companies. We believe the non-GAAP financial information provides important supplemental information to both management and investors regarding financial and business trends used in assessing our financial condition and results of operations. Non-GAAP financial measures assist investors with analyzing our business results as well as with predicting future performance. In addition, these non-GAAP financial measures are also reviewed by management in order to evaluate the financial performance of each segment. Presentation of these non-GAAP financial measures helps investors and management to assess the operating performance of the Company. As a result, one should not consider these measures in isolation or as a substitute for our results reported under GAAP. We compensate for these limitations by analyzing results on a GAAP basis as well as a non-GAAP basis, prominently disclosing GAAP results and providing reconciliations from GAAP results to non-GAAP results. Table 1 TRANE TECHNOLOGIES PLC Condensed Consolidated Income Statement (In millions, except per share amounts) UNAUDITED For the quarter For the six months ended June 30, ended June 30, 2025 2024 2025 2024 Net revenues $ 5,746.4 $ 5,307.4 $ 10,434.9 $ 9,523.0 Cost of goods sold (3,585.8 ) (3,371.9 ) (6,596.8 ) (6,127.6 ) Selling and administrative expenses (996.4 ) (901.3 ) (1,855.0 ) (1,727.4 ) Operating income 1,164.2 1,034.2 1,983.1 1,668.0 Interest expense (57.4 ) (57.5 ) (115.5 ) (115.5 ) Other income/(expense), net (14.1 ) (4.1 ) (22.0 ) (29.2 ) Earnings before income taxes 1,092.7 972.6 1,845.6 1,523.3 Provision for income taxes (216.7 ) (205.8 ) (351.6 ) (311.3 ) Earnings from continuing operations 876.0 766.8 1,494.0 1,212.0 Discontinued operations, net of tax 2.9 (6.9 ) (6.0 ) (12.3 ) Net earnings 878.9 759.9 1,488.0 1,199.7 Less: Net earnings from continuing operations attributable to noncontrolling interests (4.1 ) (4.6 ) (8.3 ) (8.1 ) Net earnings attributable to Trane Technologies plc $ 874.8 $ 755.3 $ 1,479.7 $ 1,191.6 Amounts attributable to Trane Technologies plc ordinary shareholders: Continuing operations $ 871.9 $ 762.2 $ 1,485.7 $ 1,203.9 Discontinued operations 2.9 (6.9 ) (6.0 ) (12.3 ) Net earnings $ 874.8 $ 755.3 $ 1,479.7 $ 1,191.6 Diluted earnings (loss) per share attributable to Trane Technologies plc ordinary shareholders: Continuing operations $ 3.87 $ 3.33 $ 6.58 $ 5.25 Discontinued operations 0.02 (0.03 ) (0.03 ) (0.05 ) Net earnings $ 3.89 $ 3.30 $ 6.55 $ 5.20 Weighted-average number of common shares outstanding: Diluted 225.1 228.7 225.8 229.1 Table 2 TRANE TECHNOLOGIES PLC Reconciliation of GAAP to non-GAAP (In millions, except per share amounts) UNAUDITED For the quarter ended June 30, 2025 For the six months ended June 30, 2025 As As As As Reported Adjustments Adjusted Reported Adjustments Adjusted Net revenues $ 5,746.4 $ — $ 5,746.4 $ 10,434.9 $ — $ 10,434.9 Operating income 1,164.2 2.0 (a,b) 1,166.2 1,983.1 (57.2 ) (a,b,c) 1,925.9 Operating margin 20.3 % 20.3 % 19.0 % 18.5 % Earnings from continuing operations before income taxes 1,092.7 2.0 (a,b) 1,094.7 1,845.6 (57.2 ) (a,b,c) 1,788.4 Provision for income taxes (216.7 ) (0.5 ) (d) (217.2 ) (351.6 ) (1.0 ) (d) (352.6 ) Tax rate 19.8 % 19.8 % 19.1 % 19.7 % Earnings from continuing operations attributable to Trane Technologies plc $ 871.9 $ 1.5 (e) $ 873.4 $ 1,485.7 $ (58.2 ) (e) $ 1,427.5 Diluted earnings per common share Continuing operations $ 3.87 $ 0.01 $ 3.88 $ 6.58 $ (0.26 ) $ 6.32 Weighted-average number of common shares outstanding: Diluted 225.1 — 225.1 225.8 — 225.8 Detail of Adjustments: (a) Restructuring costs (COGS & SG&A) $ 1.3 $ 1.3 (b) M&A transaction costs (SG&A) 0.7 2.7 (c) Non-cash adjustment for contingent consideration (SG&A) — (61.2 ) (d) Tax impact of adjustments (a,b) (0.5 ) (1.0 ) (e) Impact of adjustments on earnings from continuing operations attributable to Trane Technologies plc $ 1.5 $ (58.2 ) Pre-tax impact of adjustments on cost of goods sold $ 0.2 $ 0.2 Pre-tax impact of adjustments on selling & administrative expenses 1.8 (57.4 ) Pre-tax impact of adjustments on operating income $ 2.0 $ (57.2 ) Table 3 TRANE TECHNOLOGIES PLC Reconciliation of GAAP to non-GAAP (In millions, except per share amounts) UNAUDITED For the quarter ended June 30, 2024 For the six months ended June 30, 2024 As As As As Reported Adjustments Adjusted Reported Adjustments Adjusted Net revenues $ 5,307.4 $ — $ 5,307.4 $ 9,523.0 $ — $ 9,523.0 Operating income 1,034.2 (7.1 ) (a,b,c,d) 1,027.1 1,668.0 (1.3 ) (a,b,c,d) 1,666.7 Operating margin 19.5 % 19.4 % 17.5 % 17.5 % Earnings from continuing operations before income taxes 972.6 (7.1 ) (a,b,c,d) 965.5 1,523.3 (1.3 ) (a,b,c,d) 1,522.0 Provision for income taxes (205.8 ) (0.3 ) (e) (206.1 ) (311.3 ) (1.7 ) (e) (313.0 ) Tax rate 21.2 % 21.3 % 20.4 % 20.6 % Earnings from continuing operations attributable to Trane Technologies plc $ 762.2 $ (7.4 ) (f) $ 754.8 $ 1,203.9 $ (3.0 ) (f) $ 1,200.9 Diluted earnings per common share Continuing operations $ 3.33 $ (0.03 ) $ 3.30 $ 5.25 $ (0.01 ) $ 5.24 Weighted-average number of common shares outstanding: Diluted 228.7 — 228.7 229.1 — 229.1 Detail of Adjustments: (a) Restructuring costs (COGS and SG&A) $ 0.8 $ 5.5 (b) Legacy legal liability (SG&A) 0.6 1.7 (c) M&A transaction costs (SG&A) 0.4 0.4 (d) Non-cash adjustment for contingent consideration (SG&A) (8.9 ) (8.9 ) (e) Tax impact of adjustments (a,b,c) (0.3 ) (1.7 ) (f) Impact of adjustments on earnings from continuing operations attributable to Trane Technologies plc $ (7.4 ) $ (3.0 ) Pre-tax impact of adjustments on cost of goods sold $ 0.6 $ 0.6 Pre-tax impact of adjustments on selling & administrative expenses (7.7 ) (1.9 ) Pre-tax impact of adjustments on operating income $ (7.1 ) $ (1.3 ) Table 4 TRANE TECHNOLOGIES PLC Reconciliation of GAAP to non-GAAP (In millions) UNAUDITED For the quarter ended June 30, 2025 For the quarter ended June 30, 2024 As Reported Margin As Reported Margin Americas Net revenues $ 4,692.3 $ 4,290.9 Segment operating income $ 1,052.5 22.4 % $ 912.1 21.3 % Restructuring/Other (a) 0.3 — % (8.2 ) (0.2 )% Adjusted operating income * 1,052.8 22.4 % 903.9 21.1 % Depreciation and amortization 76.3 1.7 % 76.5 1.8 % Other income/(expense), net (3.8 ) (0.1 )% (2.2 ) (0.1 )% Adjusted EBITDA * $ 1,125.3 24.0 % $ 978.2 22.8 % Europe, Middle East & Africa Net revenues $ 707.9 $ 645.3 Segment operating income $ 122.7 17.3 % $ 120.7 18.7 % Restructuring/Other (a) — — % 0.3 0.1 % Adjusted operating income * 122.7 17.3 % 121.0 18.8 % Depreciation and amortization 12.0 1.7 % 10.7 1.7 % Other income/(expense), net (5.2 ) (0.7 )% (0.7 ) (0.2 )% Adjusted EBITDA * $ 129.5 18.3 % $ 131.0 20.3 % Asia Pacific Net revenues $ 346.2 $ 371.2 Segment operating income $ 73.7 21.3 % $ 89.3 24.1 % Restructuring/Other (a) 1.0 0.3 % — — % Adjusted operating income * 74.7 21.6 % 89.3 24.1 % Depreciation and amortization 4.6 1.3 % 4.4 1.1 % Other income/(expense), net 1.5 0.4 % 1.1 0.3 % Adjusted EBITDA * $ 80.8 23.3 % $ 94.8 25.5 % Corporate Unallocated corporate expense $ (84.7 ) $ (87.9 ) Restructuring/Other (b) 0.7 0.8 Adjusted corporate expense * (84.0 ) (87.1 ) Depreciation and amortization 5.2 4.6 Other income/(expense), net (6.6 ) (2.3 ) Adjusted EBITDA * $ (85.4 ) $ (84.8 ) Total Company Net revenues $ 5,746.4 $ 5,307.4 Operating income $ 1,164.2 20.3 % $ 1,034.2 19.5 % Restructuring/Other (a,b) 2.0 — % (7.1 ) (0.1 )% Adjusted operating income * 1,166.2 20.3 % 1,027.1 19.4 % Depreciation and amortization 98.1 1.7 % 96.2 1.8 % Other income/(expense), net (14.1 ) (0.2 )% (4.1 ) (0.1 )% Adjusted EBITDA * $ 1,250.2 21.8 % $ 1,119.2 21.1 % *Represents a non-GAAP measure, refer to pages 5-6 in the Earnings Release for definitions. (a) Restructuring/Other in 2025 and 2024 includes restructuring amounts unless specified otherwise. Restructuring/Other within Americas in 2024 includes ($8.9) million of a non-cash adjustment for contingent consideration. (b) Restructuring/Other within Corporate in 2025 includes $0.7 million of M&A transaction costs. Restructuring/Other within Corporate in 2024 includes $0.6 million and $0.4 million of legacy legal liability and M&A transaction costs, respectively. Table 5 TRANE TECHNOLOGIES PLC Reconciliation of GAAP to non-GAAP (In millions) UNAUDITED For the quarter ended June 30, 2025 2024 Total Company Adjusted EBITDA * $ 1,250.2 $ 1,119.2 Less: items to reconcile adjusted EBITDA to net earnings attributable to Trane Technologies plc Depreciation and amortization (98.1 ) (96.2 ) Interest expense (57.4 ) (57.5 ) Provision for income taxes (216.7 ) (205.8 ) Restructuring costs (1.3 ) (0.8 ) M&A transaction costs (0.7 ) (0.4 ) Legacy legal liability — (0.6 ) Non-cash adjustment for contingent consideration — 8.9 Discontinued operations, net of tax 2.9 (6.9 ) Net earnings from continuing operations attributable to noncontrolling interests (4.1 ) (4.6 ) Net earnings attributable to Trane Technologies plc $ 874.8 $ 755.3 *Represents a non-GAAP measure, refer to pages 5-6 in the Earnings Release for definitions. Table 6 TRANE TECHNOLOGIES PLC Condensed Consolidated Balance Sheets (In millions) UNAUDITED June 30, December 31, 2025 2024 ASSETS Cash and cash equivalents $ 774.2 $ 1,590.1 Accounts and notes receivable, net 3,607.1 3,090.2 Inventories 2,361.0 1,971.5 Other current assets 763.9 686.0 Total current assets 7,506.2 7,337.8 Property, plant and equipment, net 2,177.5 2,024.5 Goodwill 6,446.1 6,127.9 Intangible assets, net 3,308.9 3,308.2 Other noncurrent assets 1,551.8 1,348.3 Total assets $ 20,990.5 $ 20,146.7 LIABILITIES AND EQUITY Accounts payable $ 2,528.6 $ 2,148.0 Accrued expenses and other current liabilities 3,576.1 3,468.7 Short-term borrowings and current maturities of long-term debt 694.6 452.2 Total current liabilities 6,799.3 6,068.9 Long-term debt 3,920.4 4,318.1 Other noncurrent liabilities 2,415.6 2,272.8 Total equity 7,855.2 7,486.9 Total liabilities and equity $ 20,990.5 $ 20,146.7 Table 7 TRANE TECHNOLOGIES PLC Condensed Consolidated Statement of Cash Flows (In millions) UNAUDITED For the six months ended June 30, 2025 2024 Operating Activities Earnings from continuing operations $ 1,494.0 $ 1,212.0 Depreciation and amortization 197.2 187.7 Changes in assets and liabilities and other non-cash items (647.7 ) (441.1 ) Net cash provided by (used in) continuing operating activities 1,043.5 958.6 Net cash provided by (used in) discontinued operating activities (11.9 ) (15.5 ) Net cash provided by (used in) operating activities 1,031.6 943.1 Investing Activities Capital expenditures, net (208.8 ) (156.7 ) Acquisition of businesses, net of cash acquired (275.5 ) (5.2 ) Purchases of short-term investments, net — (450.0 ) Other investing activities, net (1.7 ) (14.7 ) Net cash provided by (used in) investing activities (486.0 ) (626.6 ) Financing Activities Net proceeds from (payments of) debt (157.3 ) 491.0 Dividends paid to ordinary shareholders (420.0 ) (379.4 ) Repurchase of ordinary shares (879.6 ) (624.4 ) Other financing activities, net (24.0 ) 8.5 Net cash provided by (used in) financing activities (1,480.9 ) (504.3 ) Effect of exchange rate changes on cash and cash equivalents 119.4 (32.9 ) Net increase (decrease) in cash and cash equivalents (815.9 ) (220.7 ) Cash and cash equivalents - beginning of period 1,590.1 1,095.3 Cash and cash equivalents - end of period $ 774.2 $ 874.6 Table 8 TRANE TECHNOLOGIES PLC Balance Sheet Metrics and Free Cash Flow ($ in millions) UNAUDITED June 30, June 30, December 31, 2025 2024 2024 Net Receivables $ 3,607.1 $ 3,433.3 $ 3,090.2 Days Sales Outstanding 57.3 59.0 57.9 Net Inventory $ 2,361.0 $ 2,203.5 $ 1,971.5 Inventory Turns 6.1 6.1 6.4 Accounts Payable $ 2,528.6 $ 2,180.1 $ 2,148.0 Days Payable Outstanding 64.3 59.0 62.0 ------------------------------------------------------------------------------------------------------------------------------------------------------- Six months ended Six months ended June 30, 2025 June 30, 2024 Net cash flow provided by continuing operating activities $ 1,043.5 $ 958.6 Capital expenditures (208.8 ) (156.7 ) Cash payments for restructuring 2.0 5.9 Legacy legal liability 0.6 1.7 M&A transaction costs 4.1 0.6 Free cash flow * $ 841.4 $ 810.1 *Represents a non-GAAP measure, refer to pages 5-6 in the Earnings Release for definitions. View source version on Contacts Media:Travis Bullard919-802-2593Media@ Investors:Zac Nagle704-990-3913InvestorRelations@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Hyperscale Data Clarifies $XRP Acquisitions to Remain on Company Balance Sheet
Weekly Reporting of $XRP Acquisitions to Begin August 12, 2025 LAS VEGAS, July 30, 2025 /PRNewswire/ -- Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company ("Hyperscale Data" or the "Company"), today clarified that its previously announced intention to acquire up to $10 million of $XRP would remain solely on the balance sheet of Hyperscale Data and not be owned by Ault Capital Group, Inc. ("ACG"). As previously reported, Hyperscale Data currently expects to divest itself of ACG (the "Divestiture") on or about December 31, 2025, though there can be no assurance that the Divestiture will be completed during 2025. ACG intends to initiate its own $XRP accumulation strategy and the Company will provide stockholders with an update on ACG's $XRP acquisition strategy and previously announced $XRP lending platform in the coming months. "We wanted to clarify for our stockholders that this $XRP acquired will be a Hyperscale Data asset, even after the planned Divestiture of ACG," said Milton "Todd" Ault III, Executive Chairman of Hyperscale Data. "Hyperscale Data is continuing on its path to becoming a pureplay data center business and we believe this $XRP acquisition strategy will be a key part of the Company's overall treasury strategy." For more information on Hyperscale Data and its subsidiaries, Hyperscale Data recommends that stockholders, investors, and any other interested parties read Hyperscale Data's public filings and press releases available under the Investor Relations section at or available at About Hyperscale Data, Inc. Through its wholly owned subsidiary Sentinum, Inc., Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging artificial intelligence ("AI") ecosystems and other industries. Hyperscale Data's other wholly owned subsidiary, ACG, is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Hyperscale Data currently expects the Divestiture to occur on or about December 31, 2025, though there can be no assurance that the Divestiture will be completed during 2025. Upon the occurrence of the Divestiture, the Company would solely be an owner and operator of data centers to support high-performance computing services, though it may at that time continue to operate in the digital asset space as described in the Company's filings with the SEC. Until the Divestiture occurs, the Company will continue to provide, through ACG and its wholly and majority-owned subsidiaries and strategic investments, mission-critical products that support a diverse range of industries, including an AI software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, ACG is actively engaged in private credit and structured finance through a licensed lending subsidiary. Hyperscale Data's headquarters are located at 11411 Southern Highlands Parkway, Suite 190, Las Vegas, NV 89141. On December 23, 2024, the Company issued one million (1,000,000) shares of a newly designated Series F Exchangeable Preferred Stock (the "Series F Preferred Stock") to all common stockholders and holders of the Series C Convertible Preferred Stock on an as-converted basis. The Divestiture will occur through the voluntary exchange of the Series F Preferred Stock for shares of Class A Common Stock and Class B Common Stock of ACG (collectively, the "ACG Shares"). The Company reminds its stockholders that only those holders of the Series F Preferred Stock who agree to surrender such shares, and do not properly withdraw such surrender, in the exchange offer through which the Divestiture will occur, will be entitled to receive the ACG Shares and consequently be stockholders of ACG upon the occurrence of the Divestiture. Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "believes," "plans," "anticipates," "projects," "estimates," "expects," "intends," "strategy," "future," "opportunity," "may," "will," "should," "could," "potential," or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company's business and financial results are included in the Company's filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company's Forms 10-K, 10-Q and 8- K. All filings are available at and on the Company's website at View original content to download multimedia: SOURCE Hyperscale Data Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Kenvue Increases Quarterly Cash Dividend
SUMMIT, N.J., July 30, 2025--(BUSINESS WIRE)--Kenvue Inc. (NYSE: KVUE) today announced its Board of Directors declared a quarterly dividend of $0.2075 per share on its common stock, which represents a 1.2 percent increase compared to the prior quarterly dividend. The quarterly dividend is payable on August 27, 2025, to shareholders of record as of the close of business on August 13, 2025. About Kenvue Kenvue Inc. is the world's largest pure-play consumer health company by revenue. Built on more than a century of heritage, our iconic brands, including Aveeno®, BAND-AID® Brand, Johnson's®, Listerine®, Neutrogena® and Tylenol®, are science-backed and recommended by healthcare professionals around the world. At Kenvue, we realize the extraordinary power of everyday care. Our teams work every day to put that power in consumers' hands and earn a place in their hearts and homes. Learn more at View source version on Contacts Investor Relations: Sofya TsinisKenvue_IR@ Media Relations: Melissa WittMedia@
