Trane Technologies Is Powering Data Centers with NVIDIA — Could This Be a Game Changer?

Trane Technologies delivered robust performance in the third quarter of 2025, exhibiting significant growth in key business segments despite challenges in certain markets. The company reported record quarterly bookings of $6 billion, reflecting a 13% year-over-year organic growth and expanding its adjusted operating margins by 170 basis points. Additionally, Trane Technologies achieved a 15% growth in adjusted earnings per share (EPS) and demonstrated robust free cash flow generation. A significant driver of this growth was Trane’s global Commercial HVAC sector, which showed particularly strong performance in the Americas. Here, bookings surged by 30% year-over-year, leading to an unprecedented backlog of $7.2 billion. Applied solutions bookings dramatically increased, more than doubling in size, showcasing the firm’s ability to capture market share in rapidly growing and niche sectors like data centers.