Trane Technologies (TT) Revenue — Quarter Ended Mar 31, 2023
Revenue for the quarter decreased compared to the immediately preceding quarter but increased compared to the same quarter one year earlier. The sequential decline reflects typical seasonal patterns, while the year-over-year growth indicates continued demand.
Key takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue for the quarter decreased compared to the immediately preceding quarter but increased compared to the same quarter one year earlier. The sequential decline reflects typical seasonal patterns, while the year-over-year growth indicates continued demand.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$3.7B
Revenue reported for this quarter.
Quarter-over-quarter
-10.0%
Change from the immediately preceding quarter.
Year-over-year
+9.2%
Change from the comparable year-ago quarter.
Trailing four quarters
$16.3B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2022 | $4.2B | +9.4% |
| Sep 30, 2022 | $4.4B | +17.5% |
| Dec 31, 2022 | $4.1B | +14.1% |
| Mar 31, 2023 | $3.7B | +9.2% |
Revenue performance
Revenue was lower than the prior quarter, aligning with seasonal trends. Compared to the same quarter last year, revenue was higher, showing year-over-year improvement.
Quarterly comparison
The sequential decline from the prior quarter is consistent with typical first-quarter seasonality. The year-over-year increase reflects stronger performance relative to the same period last year.
What to watch
Monitor whether the sequential revenue decline is in line with historical seasonal patterns in upcoming quarters.