Trane Technologies plc

Welcome to the Train Technologies Q2 2026 earnings call. My name is Lisa 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. To ask a question today, please press star 1 on your telephone keypad. We ask that you limit your questions to one initial and one follow-up. I will now turn the call over to Zach Nagle, Vice President of Investor Relations. Please go ahead, sir.

Good morning and thank you for joining us for Training Technologies second quarter 2026 earnings conference call. You can access our webcast and slide presentation at traintechnologies.com. A replay will be archived there as well. Today's discussion includes forward-looking statements. Key risk factors are listed in our SEC filings. We also use non-GAAP measures. Explanations and reconciliations are in our press release and presentation appendix. Joining me are David Regnery, Chair and CEO, Chris Kuehn, Executive Vice President and CFO, and joining us for Q&A is Donnie Simmons, Executive Vice President and Chief Operating Officer. With that, I'll turn the call over to Dave. Dave?

Thanks, Zach, and good morning, everyone. Please turn to slide number three. I will start with a few thoughts on how our focused strategy continues to propel our performance. Elevated energy prices are driving companies to assess their operations and customers are choosing trained technologies to enhance performance, save energy, and reduce operating costs. Our smart systems, integrated controls, and agentic AI allow buildings to predict, act, and optimize in real time for industry-leading efficiency and resiliency. Our strategy is built on a strong foundation, a robust business operating system. A powerful cash flow engine and an uplifting, engaging culture. This formula positions us to deliver differentiated long-term value to our people, our customers, our shareholders, and our communities. Please turn to slide number four. Q2 was another strong quarter. Enterprise organic bookings were up 37%, driving record backlog at 12.1 billion, up 70% year over year. Organic revenue grew 9%, led by America's Commercial HVAC, Services, and Residential. And adjusted EPS increased 11%. Our Commercial HVAC businesses delivered outstanding performance, particularly in the Americas, where bookings reached an all-time high, up 50% year over year. Applied bookings were up 130%, marking our fourth consecutive quarter of growth above 100%. On a two-year stack, Applied bookings are up more than 4x. We are fueling robust growth for 2026 and beyond. Our exceptional bookings, record backlog, and healthy pipeline provide strong visibility to accelerating revenue in the second half. Our historic backlog also lays a strong foundation for continued market outperformance in the future, with approximately $6 billion plated for 2027 and beyond. Services, which represents about one-third of enterprise revenue, continue to be a consistent, durable growth driver, with low teens compound annual growth rate since 2020. Residential was strong in the quarter, and we expect second-half tailwinds driven by market fundamentals and easier comparisons. America's transport market fundamentals continue to improve, supporting the outlook for late 2026 and 2027 recovery. Operational excellence remains central to how we run the business and underpins our success. We expect continued strong execution as we move through the year. All in, we are raising our full year revenue and EPS guidance, which Chris will cover shortly. Please turn to slide number five. Second quarter results were strong, led by standout performance in Americas. Commercial HVAC delivered exceptional bookings up 50% and organic revenue up low teens. Our residential business exceeded our expectations for the quarter, with bookings up high 20s and organic revenue up low teens. In EMEA, performance was consistent with our outlook. It's worth highlighting the underlying strength in commercial HVAC, where excluding the impact of the Middle East conflict, bookings were up mid 20s and revenues were up mid single digits. Our teams in Asia Pacific also delivered strong results. with bookings up 31% and organic revenue up 10%. Now, I'd like to turn the call over to Chris. Chris?