-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
TT posted Q1 adjusted EPS of $2.63 vs. $2.45 (+7%), well ahead of the $2.53 consensus. TT's Q1 sales increased 6% to $4.97B ($150M ahead of consensus), but adjusted EBIT margin contracted 20 bps to 16.0%. Organic bookings were up 24 percent, led by Americas Commercial HVAC, which was up approximately 40 percent. TT ended Q1 2026 with a record backlog of $10.7 billion, up over 30% from year-end 2025 levels. TT now expects 2026 revenue growth of ~9.5% versus 8.5%-9.5% previously and adjusted EPS of $14.75-$14.95, up from $14.65-$14.85 previously. TT's Q1 results demonstrate strong commercial momentum, and the record backlog provides excellent visibility. However, margin compression and slower organic revenue conversion warrant monitoring. The increased guidance reflects management's confidence in executing on its substantial order book. From our perspective, the growth in TT's backlog was particularly impressive and should reaffirm investor confidence in its near- and intermediate-term growth prospects.