HVAC company Trane (NYSE: TT) will be reporting results this Thursday before market hours. Here’s what investors should know.

Trane Technologies met analysts’ revenue expectations last quarter, reporting revenues of $5.75 billion, up 8.3% year on year. It was a satisfactory quarter for the company, with a decent beat of analysts’ adjusted operating income estimates but revenue in line with analysts’ estimates.

Is Trane Technologies a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Trane Technologies’s revenue to grow 6.5% year on year to $5.79 billion, slowing from the 11.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.78 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Trane Technologies has missed Wall Street’s revenue estimates twice over the last two years.

Looking at Trane Technologies’s peers in the hvac and water systems segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Zurn Elkay delivered year-on-year revenue growth of 11.1%, beating analysts’ expectations by 3%, and A. O. Smith reported revenues up 4.4%, in line with consensus estimates.

Read our full analysis of Zurn Elkay’s results here and A. O. Smith’s results here.

There has been positive sentiment among investors in the hvac and water systems segment, with share prices up 3.1% on average over the last month. Trane Technologies is up 2.6% during the same time and is heading into earnings with an average analyst price target of $468.08 (compared to the current share price of $425).

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