Trane Technologies PLC's stock soared 5.03% during Thursday's intraday session following the release of its strong first-quarter fiscal 2026 results.

The climate solutions provider reported adjusted earnings per share of $2.63 for the quarter, beating the analyst consensus estimate of $2.53. Revenue increased 6% year-over-year to $4.97 billion, also surpassing expectations of $4.81 billion. The company attributed the strong performance to robust demand, particularly noting nearly 40% growth in Americas Commercial HVAC bookings.

Furthermore, Trane Technologies raised its full-year 2026 outlook, now expecting reported revenue growth of about 9.5% and adjusted continuing EPS in the range of $14.75 to $14.95. The company also reported a record backlog of $10.7 billion, which is up more than 30% from year-end, providing strong visibility for future revenue growth.