Trane Technologies plc (TT) Q2 2023 Earnings Call Transcript

For the period ending June 30, 2023

August 2, 2023 10:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning. Welcome to the Trane Technologies Q2 2023 Earnings Conference Call. My name is Josh, and I will be your operator for the call. The call will begin in a few moments with the speaker remarks and the Q&A session. At this time, all participants are in a listen-only mode. [Operator Instructions] Thank you.

I will now turn the call over to Zac Nagle, Vice President of Investor Relations.

Zac Nagle

Thanks, operator. Good morning, and thank you for joining us for Trane Technologies Second Quarter 2023 Earnings Conference Call. This call is being webcast on our website at tranetechnologies.com where you'll find the accompanying presentation. We are also recording and archiving this call on our website.

Please go to slide 2. Statements made in today's call that are not historical facts are considered forward-looking statements and are made pursuant to the safe harbor provisions of federal securities law. Please see our SEC filings for a description of some of the factors that may cause our actual results to differ materially from anticipated results. This presentation also includes non-GAAP measures, which are explained in the financial tables attached to our news release.

Joining me on today's call are Dave Regnery, Chair and CEO; and Chris Kuehn, Executive Vice President and CFO.

With that, please go to slide 3 and I'll turn the call over to Dave. Dave?

Dave Regnery

Thanks, Zach, and everyone, for joining us on today's call. Let me begin with a few comments on our purpose as a company: to boldly challenge what's possible for a sustainable world. Our purpose is at the heart of our strategy, which is linked to powerful megatrends like climate change. This enables us to drive differentiated financial results and shareholder returns over the long term.

The recent news on climate change has been sobering. Water temperatures off the Florida coast recently soared to over 100 degrees. We've seen deadly heat waves in parts of the United States, Europe and Asia in one of the Earth's hottest summers on record. In fact, scientists say these temperatures are likely the warmest the planet has seen in 120,000 years, and have dangerous effects on the environment, the economy and human life.

Urgent action is needed to limit global warming and preserve our planet for the next generation. Our customers are seeking sustainable solutions and choosing Trane Technologies as their partner in de-carbonizing the built environment and the cold chain. We are leading the way with our innovation and the result is long-term value creation across the board for our team, our customers, our shareholders and for the planet.