2021 Guidance Update
Strong FCF Drives Continued Balanced Capital Deployment Strategy
1
Invest for
Growth
2
Maintain Healthy,
Efficient Balance Sheet
3
Return Capital to
Shareholders
•
•
Strengthen the core business
and extend product & market
leadership
Invest in new technology and
innovation
Fully invest in strategic, value-
accretive M&A
·
•
Expect to deliver FCF ≥ 100%
of adjusted net earnings
Strengthening balance sheet
Strong BBB investment grade
rating offers optionality as
markets evolve
•
.
Expect to consistently deploy
100% of excess cash over time
Pay competitive dividend and
grow dividend at or above rate
of earnings growth over time
Repurchase shares with excess
cash when intrinsic value
provides high returns
*
Includes certain Non-GAAP financial measures. See the company's Q3 2021 earnings release for additional details and reconciliations.
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