, /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, today announced the election of Neil Barua, President and Chief Executive Officer of PTC Inc., to its Board of Directors, effective immediately. He will serve on the Board's Technology and Innovation and Compensation Committees.
"Neil brings to Carrier a track record of successfully leading scale enterprises while applying AI to drive digital transformations across industrial companies," said David Gitlin, Chairman & CEO, Carrier. "His experience will strengthen our Board as we continue advancing intelligent climate and energy solutions and delivering greater value for our customers. We are excited to welcome Neil to our Board."
Mr. Barua has been President and Chief Executive Officer of PTC Inc. since 2024. Previously, he led PTC's Service Lifecycle Management business following the company's acquisition of ServiceMax in 2023. Before joining PTC, he was Chief Executive Officer of ServiceMax from 2019 to 2023 and Chief Executive Officer of IPC Systems from 2014 to 2018. He also was an Operating Partner at Silver Lake from 2018 to 2019. Mr. Barua holds a B.S. in Finance & Economics from the NYU Stern School of Business.
About Carrier
Carrier Global Corporation, global leader in intelligent climate and energy solutions, is committed to creating innovations that bring comfort, safety and sustainability to life. Through cutting-edge advancements in climate solutions such as temperature control, air quality and transportation, we improve lives, empower critical industries and ensure the safe transport of food, life-saving medicines and more. Since inventing modern air conditioning in 1902, we lead with purpose: enhancing the lives we live and the world we share. We continue to lead because of our world-class, inclusive workforce that puts the customer at the center of everything we do. For more information, visit carrier.com or follow Carrier on social media at @Carrier.
Investors interested in Construction stocks should always be looking to find the best-performing companies in the group. Carrier Global (CARR - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Carrier Global is one of 93 individual stocks in the Construction sector. Collectively, these companies sit at #12 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Carrier Global is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CARR's full-year earnings has moved 1.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CARR has returned 30.9% so far this year. In comparison, Construction companies have returned an average of 10.3%. As we can see, Carrier Global is performing better than its sector in the calendar year.
Sterling Infrastructure (STRL - Free Report) is another Construction stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 134.3%.
For Sterling Infrastructure, the consensus EPS estimate for the current year has increased 41% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Carrier Global belongs to the Building Products - Air Conditioner and Heating industry, a group that includes 9 individual stocks and currently sits at #46 in the Zacks Industry Rank. Stocks in this group have gained about 40.5% so far this year, so CARR is slightly underperforming its industry this group in terms of year-to-date returns.
In contrast, Sterling Infrastructure falls under the Engineering - R and D Services industry. Currently, this industry has 23 stocks and is ranked #95. Since the beginning of the year, the industry has moved +28.5%.
Investors with an interest in Construction stocks should continue to track Carrier Global and Sterling Infrastructure. These stocks will be looking to continue their solid performance.
Key Takeaways Carrier's second-quarter net sales are expected to decline 1.5% year over year to $6.02 billion.Weak residential and light commercial demand in key regions is likely to pressure Carrier's top line.Higher input costs, European promotions and tariff risks are expected to weigh on CARR's Q2 earnings. Carrier Global Corporation (CARR - Free Report) is scheduled to report its second-quarter 2026 results on July 28, before the opening bell.
In the last reported quarter, the company’s adjusted earnings per share (EPS) and net sales topped the Zacks Consensus Estimate by 14% and 6.1%, respectively. Year over year, the bottom line declined 12.3%, but the top line grew 2%.
CARR’s earnings surpassed estimates in three of the trailing four quarters and missed on the remaining occasion, with an average surprise of 7.8%.
How are Estimates Placed for CARR Stock?The Zacks Consensus Estimate for second-quarter EPS has inched up to 83 cents from 82 cents in the past 30 days. However, the estimated figure indicates a 9.8% decline from the year-ago quarter’s earnings of 92 cents per share.
The consensus estimate for net sales is pegged at $6.02 billion, indicating a decline of 1.5% from the prior-year quarter’s level.
Factors at Play for Carrier’s Q2 ResultsSales
The top-line performance of Carrier is expected to have tumbled year over year due to the ongoing softness in the residential and light commercial businesses, particularly in the Americas. This demand weakness is also likely to have stretched to China as well as Europe, which has likely witnessed more sales decline in the commercial businesses during the second quarter.
The company is likely to have been facing weakness in multiple traditional HVAC markets at the same time, mainly concerned with residential demand, which has resulted in soft contributions from its four reportable segments, including Climate Solutions Americas (contributed 46.8% to first-quarter 2026 sales), Climate Solutions Europe (24.2%), Climate Solutions Asia Pacific, Middle East & Africa (15.6%) and Climate Solutions Transportation (13.3%).
Sales from the Transportation segment are likely to have tumbled in the second quarter because of unfavorable year-over-year comparisons and the inorganic moves undertaken by CARR in reshaping its business portfolio. Although the organic sales are encouraging, these aspects are likely to have primarily resulted in the year-over-year decline.
For the second quarter, the Zacks Consensus Estimate for net sales from Americas, Europe, Asia Pacific, Middle East & Africa and Transportation business segments under Climate Solutions is pegged at $3.17 billion, $1.19 billion, $862 million and $719 million, reflecting year-over-year declines from $3.25 billion, $1.25 billion, $882 million and $726 million, respectively.
Earnings
Carrier is expected to report a year-over-year bottom-line downturn in the second quarter, due to the reduced leverage from declining top-line growth and higher input costs, indicating that maintaining price-cost balance is being difficult. Moreover, elevated European promotions and tariff risks are likely to have added to the year-over-year decline.
What the Zacks Model Indicates for CARROur proven model does not predict an earnings beat for Carrier this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, it is not the case this time around.
CARR’s Earnings ESP: The company has an Earnings ESP of -3.24%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
CARR’s Zacks Rank: The stock currently has a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks Poised to Beat EarningsHere are some companies in the Zacks Construction sector, which according to our model, have the right combination of elements to post an earnings beat.
Boise Cascade Company (BCC - Free Report) has an Earnings ESP of +6.50% and a Zacks Rank of 2 at present.
Boise Cascade’s earnings beat estimates in two of the last four quarters, missed on one occasion and met on the remaining occasion, the average surprise being 40.8%. The company’s earnings for the second quarter of 2026 are expected to decline 25% year over year.
Amentum Holdings, Inc. (AMTM - Free Report) currently has an Earnings ESP of +3.18% and a Zacks Rank of 2.
Amentum’s earnings beat estimates in each of the last four quarters, the average surprise being 4%. The company’s earnings for the second quarter of 2026 are expected to increase 12.5% year over year.
CRH plc (CRH - Free Report) has an Earnings ESP of +4.08% and a Zacks Rank of 3.
CRH’s earnings beat estimates in two of the last four quarters, missed on one occasion and met on the remaining occasion, the average surprise being 0.7%. The company’s earnings for the second quarter of 2026 are expected to inch up 1% year over year.
Cloud-native building automation strengthens Carrier's digital ecosystem to enable increasingly intelligent and autonomous buildings
, /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, today announced it has acquired 75F, a leading innovator in cloud-native, wireless, AI-enabled building automation systems. The acquisition strengthens Carrier's intelligent building capabilities across applications — from complex applied systems and high-growth data centers to light commercial and retrofits.
"Buildings are becoming intelligent and autonomous systems that continuously learn, adapt and optimize performance," said David Gitlin, Chairman & CEO, Carrier. "Through Carrier ClimaVision™, we have already seen firsthand the power of 75F's cloud-native, AI-enabled platform. This acquisition accelerates our strategy to create increasingly autonomous and self-optimizing buildings by bringing together connected equipment, intelligent controls and digital solutions in a unified platform that simplifies deployment, connects building data and enables agentic AI."
The combination of Carrier's WebCTRL® building controls install base, Abound™ predictive analytics capability and the Nlyte® operational intelligence platform with 75F's unified data layer and AI capabilities will create a differentiated end-to-end offering spanning equipment, controls, analytics and outcomes for buildings globally. Together, these integrated capabilities enable building operators to transition from traditional building management to fully autonomous operations that proactively identify maintenance opportunities, optimize energy consumption, intelligently manage assets and improve occupant comfort.
"75F was founded to fundamentally rethink building automation using cloud-native software, AI and wireless technologies," said Deepinder Singh, founder and CEO, 75F. "Joining Carrier enables us to accelerate that vision on a global scale. Together, we can help make intelligent buildings simpler to deploy, easier to operate and more accessible to customers everywhere."
75F's platform combines wireless sensors, intuitive controls, cloud software and AI-enabled automation designed to reduce installation time and simplify commissioning while optimizing energy efficiency and indoor air quality. Carrier plans to integrate 75F's generative and agentic AI as well as auto-commissioning capabilities into its large commercial platforms, including its Carrier QuantumLeap™ thermal management suite, improving deployment and real-time thermal performance for the rapidly growing data center market.
Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as external legal counsel to Carrier in connection with the transaction. Avisen Legal, PA acted as external legal counsel to 75F in connection with the transaction.
About Carrier
Carrier Global Corporation, global leader in intelligent climate and energy solutions, is committed to creating innovations that bring comfort, safety and sustainability to life. Through cutting-edge advancements in climate solutions such as temperature control, air quality and transportation, we improve lives, empower critical industries and ensure the safe transport of food, life-saving medicines and more. Since inventing modern air conditioning in 1902, we lead with purpose: enhancing the lives we live and the world we share. We continue to lead because of our world-class, inclusive workforce that puts the customer at the center of everything we do. For more information, visit carrier.com or follow Carrier on social media at @Carrier.
Carrier. For the World We Share.
Cautionary Statement
This communication contains statements which, to the extent they are not statements of historical or present fact, constitute "forward-looking statements" under the securities laws. These forward-looking statements are intended to provide management's current expectations or plans for Carrier's future operating and financial performance, based on assumptions currently believed to be valid. Forward-looking statements can be identified by the use of words such as "believe," "expect," "expectations," "plans," "strategy," "prospects," "estimate," "project," "target," "anticipate," "will," "should," "see," "guidance," "outlook," "confident," "scenario" and other words of similar meaning in connection with a discussion of future operating or financial performance. Forward-looking statements may include, among other things, statements relating to the acquisition of the 75F business, the integration of such business into Carrier's existing operations, strategies or transactions of Carrier, Carrier's plans with respect to its indebtedness and other statements that are not historical facts. All forward-looking statements involve risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. For additional information on identifying factors that may cause actual results to vary materially from those stated in forward-looking statements, see Carrier's reports on Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission from time to time. Any forward-looking statement speaks only as of the date on which it is made, and Carrier assumes no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
Carrier Global (CARR - Free Report) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 28. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus EstimateThis company is expected to post quarterly earnings of $0.83 per share in its upcoming report, which represents a year-over-year change of -9.8%.
Revenues are expected to be $6.02 billion, down 1.5% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.4% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Carrier Global?For Carrier Global, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -3.24%.
On the other hand, the stock currently carries a Zacks Rank of #2.
So, this combination makes it difficult to conclusively predict that Carrier Global will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Carrier Global would post earnings of $0.5 per share when it actually produced earnings of $0.57, delivering a surprise of +14.00%.
Over the last four quarters, the company has beaten consensus EPS estimates three times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Carrier Global doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
California Public Employees Retirement System increased its holdings in shares of Carrier Global Corporation (NYSE:CARR – Free Report) by 1.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,430,425 shares of the company’s stock after acquiring an additional 21,367 shares during the quarter. California Public Employees Retirement System owned about 0.17% of Carrier Global worth $80,547,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of CARR. Aigen Investment Management LP boosted its stake in Carrier Global by 0.3% during the fourth quarter. Aigen Investment Management LP now owns 49,268 shares of the company’s stock worth $2,603,000 after buying an additional 166 shares during the last quarter. Advisory Alpha LLC raised its stake in Carrier Global by 2.9% during the fourth quarter. Advisory Alpha LLC now owns 6,034 shares of the company’s stock worth $319,000 after purchasing an additional 171 shares during the period. Texas Bank & Trust Co grew its stake in shares of Carrier Global by 1.3% in the 1st quarter. Texas Bank & Trust Co now owns 13,176 shares of the company’s stock valued at $742,000 after buying an additional 175 shares during the period. Advisor OS LLC grew its position in Carrier Global by 0.8% in the fourth quarter. Advisor OS LLC now owns 21,477 shares of the company’s stock worth $1,135,000 after acquiring an additional 178 shares during the period. Finally, Personal CFO Solutions LLC grew its position in Carrier Global by 0.7% in the first quarter. Personal CFO Solutions LLC now owns 24,671 shares of the company’s stock worth $1,389,000 after acquiring an additional 181 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.
Analyst Ratings Changes Several brokerages recently issued reports on CARR. Weiss Ratings upgraded shares of Carrier Global from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Zacks Research raised shares of Carrier Global from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Argus lifted their target price on shares of Carrier Global from $72.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Rothschild & Co Redburn boosted their target price on Carrier Global from $61.00 to $73.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Finally, Wolfe Research reiterated an “outperform” rating and issued a $80.00 price objective on shares of Carrier Global in a report on Thursday, July 9th. Twelve research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Carrier Global presently has an average rating of “Moderate Buy” and a consensus target price of $73.51.
Check Out Our Latest Research Report on CARR
Carrier Global Stock Performance Shares of CARR opened at $68.71 on Monday. The stock has a 50-day simple moving average of $68.27 and a 200-day simple moving average of $62.70. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.75 and a current ratio of 1.05. The stock has a market capitalization of $57.07 billion, a PE ratio of 45.20, a PEG ratio of 2.75 and a beta of 1.31. Carrier Global Corporation has a 1 year low of $50.24 and a 1 year high of $81.09.
Carrier Global (NYSE:CARR – Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. The firm had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.01 billion. Carrier Global had a net margin of 5.99% and a return on equity of 14.81%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 earnings per share. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. On average, analysts predict that Carrier Global Corporation will post 2.79 earnings per share for the current fiscal year.
Carrier Global Announces Dividend The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, July 21st will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, July 21st. Carrier Global’s payout ratio is 63.16%.
Carrier Global Company Profile (Free Report)
Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.
Read More Five stocks we like better than Carrier Global Strait of Hormuz Tensions Spike Tanker Trade: These 2 Stocks Are Set to Benefit Shopify’s Quiet AI Strategy Could Be Its Biggest Advantage Yet Why These 3 Nuclear ETFs Are Getting a Fresh Look as AI Power Demand Rises 3 Aerospace Suppliers That Could Benefit as Aircraft Makers Face Bottlenecks Want to see what other hedge funds are holding CARR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carrier Global Corporation (NYSE:CARR – Free Report).
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D.A. Davidson & CO. boosted its holdings in shares of Carrier Global Corporation (NYSE:CARR – Free Report) by 8.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,123 shares of the company’s stock after acquiring an additional 8,097 shares during the period. D.A. Davidson & CO.’s holdings in Carrier Global were worth $5,919,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. YANKCOM Partnership increased its stake in shares of Carrier Global by 78.5% during the fourth quarter. YANKCOM Partnership now owns 473 shares of the company’s stock valued at $25,000 after purchasing an additional 208 shares in the last quarter. Torren Management LLC bought a new stake in shares of Carrier Global in the 4th quarter worth approximately $25,000. True Wealth Design LLC boosted its position in shares of Carrier Global by 723.7% in the 4th quarter. True Wealth Design LLC now owns 486 shares of the company’s stock worth $26,000 after purchasing an additional 427 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Carrier Global in the 4th quarter worth approximately $27,000. Finally, Board of the Pension Protection Fund bought a new position in Carrier Global during the 4th quarter valued at approximately $32,000. Institutional investors own 91.00% of the company’s stock.
Carrier Global Price Performance Shares of CARR opened at $68.71 on Friday. Carrier Global Corporation has a twelve month low of $50.24 and a twelve month high of $81.09. The company has a market capitalization of $57.07 billion, a P/E ratio of 45.20, a price-to-earnings-growth ratio of 2.75 and a beta of 1.31. The firm has a 50 day moving average of $68.27 and a 200 day moving average of $62.64. The company has a quick ratio of 0.75, a current ratio of 1.05 and a debt-to-equity ratio of 0.76.
Carrier Global (NYSE:CARR – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.06. The business had revenue of $5.34 billion for the quarter, compared to analysts’ expectations of $5.01 billion. Carrier Global had a return on equity of 14.81% and a net margin of 5.99%.The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.65 EPS. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. As a group, equities research analysts anticipate that Carrier Global Corporation will post 2.79 earnings per share for the current fiscal year.
Carrier Global Dividend Announcement The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, July 21st will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, July 21st. Carrier Global’s dividend payout ratio (DPR) is presently 63.16%.
Analyst Ratings Changes CARR has been the subject of a number of recent research reports. Evercore lifted their price objective on Carrier Global from $75.00 to $85.00 in a research note on Friday, May 1st. BNP Paribas Exane began coverage on Carrier Global in a research note on Tuesday, April 14th. They issued a “neutral” rating and a $62.00 target price on the stock. Weiss Ratings upgraded Carrier Global from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. raised their price target on Carrier Global from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Finally, Sanford C. Bernstein assumed coverage on Carrier Global in a research report on Tuesday, June 9th. They issued a “market perform” rating and a $75.00 price target for the company. Twelve research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Carrier Global currently has an average rating of “Moderate Buy” and a consensus price target of $73.51.
View Our Latest Report on CARR
About Carrier Global (Free Report)
Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.
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The Construction group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Carrier Global (CARR - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Construction peers, we might be able to answer that question.
Carrier Global is a member of our Construction group, which includes 93 different companies and currently sits at #14 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Carrier Global is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CARR's full-year earnings has moved 1.4% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that CARR has returned about 30% since the start of the calendar year. Meanwhile, stocks in the Construction group have gained about 11.6% on average. This means that Carrier Global is outperforming the sector as a whole this year.
Sterling Infrastructure (STRL - Free Report) is another Construction stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 120.2%.
The consensus estimate for Sterling Infrastructure's current year EPS has increased 43% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Carrier Global belongs to the Building Products - Air Conditioner and Heating industry, which includes 9 individual stocks and currently sits at #47 in the Zacks Industry Rank. On average, this group has gained an average of 37.1% so far this year, meaning that CARR is slightly underperforming its industry in terms of year-to-date returns.
On the other hand, Sterling Infrastructure belongs to the Engineering - R and D Services industry. This 23-stock industry is currently ranked #73. The industry has moved +29% year to date.
Carrier Global and Sterling Infrastructure could continue their solid performance, so investors interested in Construction stocks should continue to pay close attention to these stocks.
Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, will release its second quarter 2026 earnings on Tuesday, July 28, 2026 and host a conference call and webcast at 7:30 a.m. ET.
We encourage you to join through our webcast link. A corresponding presentation and news release will be available on www.ir.carrier.com prior to the call and a recording will be available on the website later in the day. If you are unable to join via the webcast, please contact Carrier investor relations at [email protected] for alternative dial-in information.
About Carrier
Carrier Global Corporation, global leader in intelligent climate and energy solutions, is committed to creating innovations that bring comfort, safety and sustainability to life. Through cutting-edge advancements in climate solutions such as temperature control, air quality and transportation, we improve lives, empower critical industries and ensure the safe transport of food, life-saving medicines and more. Since inventing modern air conditioning in 1902, we lead with purpose: enhancing the lives we live and the world we share. We continue to lead because of our world-class, inclusive workforce that puts the customer at the center of everything we do. For more information, visit www.carrier.com or follow Carrier on social media at @Carrier.
AirJoule NASDAQ: AIRJ revealed a major milestone with the unveiling of its Prime system. The system, a commercial-scale device, is now locked into its initial design, cementing the company’s shift to commercialization. No longer a design-and-dreams company, AirJoule’s revenue timeline is clearer. The first launches are expected by year’s end, with acceleration expected in 2027.
AirJoule Technologies Today
AIRJ
AirJoule Technologies
$5.24 -0.31 (-5.51%)
As of 02:49 PM Eastern
This is a fair market value price provided by Massive. Learn more.
52-Week Range$2.22▼
$6.75Price Target$8.25
The next major milestone is deployment. The 1st Prime system is heading to the EU for deployment at the Net Zero Innovation Hub, where it will be used in a pilot/demonstration project for data center operators. The likely outcome is an influx of orders, as AirJoule technology is a win-win for the data center and other industries. The product not only uses excess heat, a bottleneck for data centers and AI, but also generates clean water for drinking or to fill liquid-cooled GPU cooling systems.
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The revenue roadmap includes three primary triggers, the first of which is the initial deployment of commercial Prime systems and scaling of Prime production. The second is the launch of AirJoule Core technology. The Core system is a smaller unit that comes in two configurations. The first is targeted specifically at water generation for defense, industrial, and community applications, while the second is optimized for humidity control. Humidity control is a critical element for numerous industries, including data centers, and AirJoule does it at a lower cost.
Prime Unveiling Strengthens Analysts' SentimentAnalysts responded well to the news, highlighting the shift from concept to working model as a critical element in the company’s strategy, derisking the commercialization timeline. While no revisions were issued immediately following the release, the news and response helped to strengthen the otherwise bullish outlook.
As it stands, MarketBeat tracks five analysts who rate the stock as a consensus of Moderate Buy with an 80% Buy-side bias. They see it trading above $8 at consensus, representing approximately a 50% upside from the critical resistance level. The critical resistance point is the top of a long-term trading range; when broken, the technical targets are derived from the range’s magnitude and place this market above $8.50.
Institutional support was strong ahead of the news and will likely strengthen in its wake. With more than 65% of the stock owned by institutions, this reflects high confidence in the technology. The risk is that the group starts taking profits as share prices rise, but this is unlikely to happen soon. Given the expectations for commercialization, years of hypergrowth, and profits by the decade's end, the likely outcome is that institutions will underpin market support for years to come.
Short Sellers Are a Risk in July 2026Short sellers are a risk for this stock. They are focused on the lack of revenue, execution hurdles, and dilution threat. The company’s recent capital raise underscores its vulnerability and may keep the bears interested for the foreseeable future. The risks for them are corporate milestones, improving market sentiment, and institutional activity, which sets them up for a squeeze. In this scenario, a move to new highs could trigger a massive influx of capital, lifting AIRJ shares into the target range within days.
Among factors for investors to consider is AirJoule’s 50/50 joint venture with GE Vernova NYSE: GEV. It dramatically derisks the outlook, positioning AirJoule as a corporate-backed hardware provider rather than an emerging tech start-up, and putting it on track to reach milestones with relative ease. Among the benefits are access to GE’s established manufacturing lines, eliminating costs, time-to-scale, and execution risks. Long-term, the deal opens the door to enterprise customers as well as the integration of AIRJ technology into GE product lines.
The company’s biggest risk is execution delays. While it is well-capitalized for 2026, delays, specifically with the UL certification of Core technology, will be reflected in the stock’s price. Delays raise the risk of dilution, as capital needs will quickly exceed current liquidity if spending isn’t offset by revenue. Additionally, bears suggest unit economics will be a hurdle to adoption as traditional desalination costs significantly less.
What the bears get wrong about AIRJ is that it is not a traditional water producer but an AI enabler. Without heat and humidity control, and water for the cooling systems, datacenters and AI are dead in the water. Achieving UL certification is likely to trigger institutional flows and short-covering, as it will instantly clear the path to commercialization and enable industrial-scale orders. Likewise, UL certification will enable partners such as GE Vernova and Carrier Global NYSE: CARR to incorporate AIRJ technology into their product lines.
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, /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, today announced it has completed the sale of its Riello business to Ariston Group for gross proceeds of approximately $440 million.
"The sale of Riello reflects Carrier's disciplined portfolio management as we continue to focus our resources on delivering differentiated climate and energy solutions. Sale proceeds enhance our ability to invest in our core businesses, innovation and value creation for our customers and shareowners," said David Gitlin, Chairman & CEO of Carrier. "We are grateful to the Riello team for their many contributions to Carrier and are confident that Ariston Group is well-positioned to drive the business's next phase of growth."
BofA Securities acted as exclusive financial advisor to Carrier, and Linklaters LLP acted as external legal counsel in connection with the transaction.
About Carrier
Carrier Global Corporation, global leader in intelligent climate and energy solutions, is committed to creating innovations that bring comfort, safety and sustainability to life. Through cutting-edge advancements in climate solutions such as temperature control, air quality and transportation, we improve lives, empower critical industries and ensure the safe transport of food, life-saving medicines and more. Since inventing modern air conditioning in 1902, we lead with purpose: enhancing the lives we live and the world we share. We continue to lead because of our world-class, inclusive workforce that puts the customer at the center of everything we do. For more information, visit www.carrier.com or follow Carrier on social media at @Carrier.
Carrier. For the World We Share.
Cautionary Statement
This communication contains statements which, to the extent they are not statements of historical or present fact, constitute "forward-looking statements" under the securities laws. These forward-looking statements are intended to provide management's current expectations or plans for Carrier's future operating and financial performance, based on assumptions currently believed to be valid. Forward-looking statements can be identified by the use of words such as "believe," "expect," "expectations," "plans," "strategy," "prospects," "estimate," "project," "target," "anticipate," "will," "should," "see," "guidance," "outlook," "confident," "scenario" and other words of similar meaning in connection with a discussion of future operating or financial performance. Forward-looking statements may include, among other things, statements relating to the sale of Carrier's Riello business, expected uses of the net proceeds therefrom, strategies or transactions of Carrier, Carrier's plans with respect to its indebtedness and other statements that are not historical facts. All forward-looking statements involve risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. For additional information on identifying factors that may cause actual results to vary materially from those stated in forward-looking statements, see Carrier's reports on Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission from time to time. Any forward-looking statement speaks only as of the date on which it is made, and Carrier assumes no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
WASHINGTON--(BUSINESS WIRE)-- #LetsSolveWater--Xylem Inc. (NYSE: XYL), a leading global water solutions company, today announced two executive leadership appointments, effective July 1, both reporting to President and Chief Executive Officer Matthew Pine. Meredith Emmerich has been appointed EVP and President, Measurement and Control Solutions. Most recently, she served as EVP and President, Applied Water at Xylem. Emmerich joined Xylem in 2024 from Carrier Global Corporation (NYSE: CARR), where she was Vice Pre.
B. Metzler seel. Sohn & Co. AG lowered its holdings in shares of Carrier Global Corporation (NYSE:CARR – Free Report) by 47.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 26,284 shares of the company’s stock after selling 23,750 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in Carrier Global were worth $1,389,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital International Investors boosted its position in Carrier Global by 6.7% during the 3rd quarter. Capital International Investors now owns 57,982,302 shares of the company’s stock valued at $3,461,142,000 after buying an additional 3,630,524 shares during the period. State Street Corp boosted its position in Carrier Global by 1.4% during the 3rd quarter. State Street Corp now owns 33,377,339 shares of the company’s stock valued at $1,992,627,000 after buying an additional 473,692 shares during the period. Fisher Asset Management LLC boosted its position in Carrier Global by 0.6% during the 3rd quarter. Fisher Asset Management LLC now owns 15,139,140 shares of the company’s stock valued at $903,807,000 after buying an additional 90,585 shares during the period. Dodge & Cox boosted its position in Carrier Global by 5.1% during the 3rd quarter. Dodge & Cox now owns 13,427,697 shares of the company’s stock valued at $801,634,000 after buying an additional 651,648 shares during the period. Finally, PineStone Asset Management Inc. boosted its position in Carrier Global by 34.6% during the 4th quarter. PineStone Asset Management Inc. now owns 7,153,429 shares of the company’s stock valued at $377,987,000 after buying an additional 1,837,985 shares during the period. Institutional investors own 91.00% of the company’s stock.
Carrier Global Price Performance CARR stock opened at $61.08 on Monday. Carrier Global Corporation has a 1 year low of $50.24 and a 1 year high of $81.09. The company has a market cap of $51.03 billion, a P/E ratio of 35.72, a PEG ratio of 2.48 and a beta of 1.32. The firm has a 50-day moving average of $59.86 and a 200 day moving average of $57.55. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.20 and a quick ratio of 0.85.
Carrier Global (NYSE:CARR – Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). Carrier Global had a return on equity of 15.30% and a net margin of 6.82%.The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter last year, the business earned $0.54 earnings per share. The business’s quarterly revenue was down 6.0% on a year-over-year basis. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. On average, sell-side analysts forecast that Carrier Global Corporation will post 2.74 EPS for the current year.
Carrier Global Dividend Announcement The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Monday, May 4th will be issued a $0.24 dividend. The ex-dividend date is Monday, May 4th. This represents a $0.96 annualized dividend and a yield of 1.6%. Carrier Global’s dividend payout ratio (DPR) is 56.14%.
Analyst Ratings Changes Several brokerages have weighed in on CARR. Evercore began coverage on shares of Carrier Global in a research report on Monday, April 13th. They set an “outperform” rating and a $75.00 price target for the company. Citigroup increased their price target on shares of Carrier Global from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Friday, February 6th. Wolfe Research increased their price target on shares of Carrier Global from $75.00 to $76.00 and gave the company an “outperform” rating in a research report on Wednesday, April 8th. Zacks Research raised shares of Carrier Global from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Robert W. Baird increased their price target on shares of Carrier Global from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Thirteen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.79.
Check Out Our Latest Stock Report on Carrier Global
About Carrier Global (Free Report)
Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.
Further Reading Five stocks we like better than Carrier Global Want to see what other hedge funds are holding CARR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carrier Global Corporation (NYSE:CARR – Free Report).
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The State Street SPDR S&P Homebuilders ETF (XHB - Free Report) was launched on January 31, 2006, and is a passively managed exchange traded fund designed to offer broad exposure to the Industrials - Engineering and Construction segment of the equity market.
While an excellent vehicle for long term investors, passively managed ETFs are a popular choice among institutional and retail investors due to their low costs, transparency, flexibility, and tax efficiency.
Sector ETFs also provide investors access to a broad group of companies in particular sectors that offer low risk and diversified exposure. Industrials - Engineering and Construction is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 16, placing it in bottom 0%.
Index DetailsThe fund is sponsored by State Street Investment Management. It has amassed assets over $1.59 billion, making it one of the larger ETFs attempting to match the performance of the Industrials - Engineering and Construction segment of the equity market. XHB seeks to match the performance of the S&P Homebuilders Select Industry Index before fees and expenses.
The S&P Homebuilders Select Industry Index represents the homebuilding sub-industry portion of the S&P Total Markets Index. The S&P TMI tracks all the U.S. common stocks listed on the NYSE, AMEX, NASDAQ National Market and NASDAQ Small Cap exchanges. The Homebuilders Index is a modified equal weight index.
CostsSince cheaper funds tend to produce better results than more expensive funds, assuming all other factors remain equal, it is important for investors to pay attention to an ETF's expense ratio.
Annual operating expenses for this ETF are 0.35%, making it one of the least expensive products in the space.
It has a 12-month trailing dividend yield of 0.65%.
Sector Exposure and Top HoldingsWhile ETFs offer diversified exposure, which minimizes single stock risk, a deep look into a fund's holdings is a valuable exercise. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
This ETF has heaviest allocation in the Consumer Discretionary sector -- about 64.7% of the portfolio, followed by Industrials.
Looking at individual holdings, Johnson Controls Internation (JCI) accounts for about 3.9% of total assets, followed by Carrier Global Corp (CARR) and Trane Technologies Plc (TT).
The top 10 holdings account for about 35.86% of total assets under management.
Performance and RiskThe ETF has added roughly 5.49% and it's up approximately 16.54% so far this year and in the past one year (as of 04/28/2026), respectively. XHB has traded between $93.07 and $121.36 during this last 52-week period.
The ETF has a beta of 1.35 and standard deviation of 25.79% for the trailing three-year period, making it a high risk choice in the space. With about 37 holdings, it has more concentrated exposure than peers.
AlternativesState Street SPDR S&P Homebuilders ETF sports a Zacks ETF Rank of 4 (Sell), which is based on expected asset class return, expense ratio, and momentum, among other factors. XHB, then, is not the best option for investors seeking exposure to the Industrials ETFs segment of the market. However, there are better ETFs in the space to consider.
Invesco Building & Construction ETF (PKB) tracks Dynamic Building & Construction Intellidex Index. The fund has $450.94 million in assets. PKB has an expense ratio of 0.57%.
Bottom LineTo learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
Investment strengthens Carrier's liquid cooling capabilities and enhances its QuantumLeap™ suite for thermal and integrated management solutions
, /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, today announced that its venture group, Carrier Ventures, has expanded its investment in ZutaCore, a provider of direct-to-chip, waterless liquid cooling solutions.
The move strengthens a strategic partnership to support high-density AI data centers and advances Carrier's strategy to deliver integrated solutions across the data center thermal lifecycle. It expands its capabilities in advanced liquid cooling technologies, including interoperable single and two-phase cooling systems. These capabilities further enhance Carrier's broader QuantumLeap™ suite of thermal and integrated management solutions.
"AI is fundamentally reshaping data center architecture, with thermal management emerging as a key constraint to scale," said Christian Senu, Vice President, Global Data Centers, Carrier. "This investment strengthens our ability to deliver advanced liquid cooling solutions that help customers scale high-density AI infrastructure efficiently and with improved energy performance for today's chip thermal densities and next-generation architectures."
The follow-on investment builds on Carrier's 2025 investment in ZutaCore and comes as AI-driven chip power densities continue to rise, increasing demand for advanced cooling solutions, including liquid cooling.
"Our expanded partnership with Carrier reflects the need for new approaches to data center cooling," said Erez Freibach, Chairman and CEO, ZutaCore. "By combining ZutaCore's waterless, direct-to-chip technology with Carrier's system-level expertise, we are enabling the next generation of high-density AI data centers."
ZutaCore is a Foster City, California-based provider of direct-to-chip, waterless liquid cooling solutions. Its HyperCool® technology uses a closed-loop, two-phase system to remove heat at the source, enabling higher-density AI compute and improved energy efficiency.
For more information about Carrier Ventures' portfolio companies, visit https://www.carrier.com/us/en/innovation/.
About Carrier
Carrier Global Corporation, global leader in intelligent climate and energy solutions, is committed to creating innovations that bring comfort, safety and sustainability to life. Through cutting-edge advancements in climate solutions such as temperature control, air quality and transportation, we improve lives, empower critical industries and ensure the safe transport of food, life-saving medicines and more. Since inventing modern air conditioning in 1902, we lead with purpose: enhancing the lives we live and the world we share. We continue to lead because of our world-class, inclusive workforce that puts the customer at the center of everything we do. For more information, visit carrier.com or follow Carrier on social media at @Carrier.
Comerica Bank lowered its position in shares of Carrier Global Corporation (NYSE:CARR – Free Report) by 6.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 300,816 shares of the company’s stock after selling 19,643 shares during the quarter. Comerica Bank’s holdings in Carrier Global were worth $15,895,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Spirepoint Private Client LLC grew its holdings in shares of Carrier Global by 547.7% during the 3rd quarter. Spirepoint Private Client LLC now owns 60,694 shares of the company’s stock worth $3,623,000 after purchasing an additional 51,324 shares during the period. Becker Capital Management Inc. grew its holdings in shares of Carrier Global by 5.6% during the 3rd quarter. Becker Capital Management Inc. now owns 425,547 shares of the company’s stock worth $25,405,000 after purchasing an additional 22,377 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Carrier Global by 6.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,127,670 shares of the company’s stock worth $59,586,000 after purchasing an additional 72,906 shares during the period. Y.D. More Investments Ltd purchased a new stake in shares of Carrier Global during the 4th quarter worth about $1,556,000. Finally, Meitav Investment House Ltd. grew its holdings in shares of Carrier Global by 79.5% during the 3rd quarter. Meitav Investment House Ltd. now owns 364,653 shares of the company’s stock worth $21,770,000 after purchasing an additional 161,513 shares during the period. Hedge funds and other institutional investors own 91.00% of the company’s stock.
Carrier Global Stock Performance Shares of CARR opened at $62.26 on Wednesday. The business’s 50 day moving average is $59.71 and its two-hundred day moving average is $57.62. Carrier Global Corporation has a 52-week low of $50.24 and a 52-week high of $81.09. The firm has a market cap of $52.01 billion, a price-to-earnings ratio of 36.41, a PEG ratio of 2.52 and a beta of 1.32. The company has a quick ratio of 0.85, a current ratio of 1.20 and a debt-to-equity ratio of 0.80.
Carrier Global (NYSE:CARR – Get Free Report) last announced its earnings results on Thursday, February 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Carrier Global had a net margin of 6.82% and a return on equity of 15.30%. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same period in the previous year, the company earned $0.54 earnings per share. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. Carrier Global has set its FY 2026 guidance at 2.800-2.800 EPS. Analysts forecast that Carrier Global Corporation will post 2.74 EPS for the current fiscal year.
Carrier Global Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Monday, May 4th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, May 4th. Carrier Global’s dividend payout ratio is currently 56.14%.
Analyst Ratings Changes A number of analysts have recently issued reports on CARR shares. Argus boosted their target price on Carrier Global from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Rothschild & Co Redburn decreased their price target on Carrier Global from $67.00 to $61.00 and set a “neutral” rating for the company in a report on Wednesday, January 21st. The Goldman Sachs Group upped their price target on Carrier Global from $68.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Royal Bank Of Canada decreased their price target on Carrier Global from $74.00 to $68.00 and set an “outperform” rating for the company in a report on Wednesday, April 8th. Finally, Mizuho decreased their price target on Carrier Global from $75.00 to $67.00 and set an “outperform” rating for the company in a report on Monday, January 5th. Thirteen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $69.69.
Check Out Our Latest Stock Report on CARR
Carrier Global Company Profile (Free Report)
Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.
Read More Five stocks we like better than Carrier Global Want to see what other hedge funds are holding CARR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carrier Global Corporation (NYSE:CARR – Free Report).
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Data center orders up over 500%; backlog fully covers expected 2026 data center sales Total company orders1 up 11%; Commercial HVAC1 up 35% Net sales up 2%; organic sales down 1% GAAP EPS of $0.28 and adjusted EPS of $0.57 Net cash flows from operating activities of $79 million and free cash flow of ($15) million Returned ~$500 million to shareholders through dividends and repurchases Reaffirms full year outlook , /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, today reported financial results for the first quarter of 2026.
"We started the year with better-than-expected sales performance across the portfolio," said Carrier Chairman & CEO David Gitlin. "Orders in our global Commercial HVAC1 business increased 35%, helped by data centers which were up over 500% in the quarter. The strong double-digit sequential increase in Commercial HVAC backlog gives us the confidence to drive our sixth consecutive year of double-digit growth in this business. CSA Light Commercial and CSE Residential both delivered growth, while CSA Residential came in better than expected. I am pleased with the team's performance in the first quarter, and we are reaffirming our full-year outlook."
1 Excludes NORESCO
First Quarter 2026 Results
Total Company
(Unaudited)
Three Months Ended
March 31,
(In millions)
2026
2025
Change
Net sales
$ 5,341
$ 5,218
2 %
Organic sales
(1) %
Operating profit
$ 259
$ 629
(59) %
Operating margin
4.8 %
12.1 %
(730) bps
Adjusted operating profit
$ 594
$ 848
(30) %
Adjusted operating margin
11.1 %
16.3 %
(520) bps
Diluted earnings per share:
Continuing operations
$ 0.28
$ 0.47
(40) %
Continuing operations - Adjusted
$ 0.57
$ 0.65
(12) %
Carrier's first-quarter sales of $5.3 billion increased 2% compared to the prior year. Organic sales declined 1%, more than offset by a 3% tailwind from foreign currency translation.
GAAP operating profit of $259 million in the quarter declined 59% from last year, driven by the CSA, CSE and CSAME segments.
Adjusted operating profit of $594 million was down 30% from last year, predominantly due to lower sales in our CSA Residential business and continued headwinds in China Residential and Light Commercial (RLC).
Net earnings from continuing operations were $239 million and adjusted net earnings from continuing operations were $482 million. GAAP EPS from continuing operations was $0.28 and adjusted EPS was $0.57, down 40% and 12% year-over-year, respectively. The declines were primarily driven by lower operating profit, partially offset by a lower tax rate and benefits of a lower share count.
Climate Solutions Americas (CSA)
(Unaudited)
Three Months Ended
March 31,
(In millions)
2026
2025
Change
Net sales
$ 2,501
$ 2,572
(3) %
Organic sales
(3) %
Segment operating profit
$ 373
$ 570
(35) %
Segment operating margin
14.9 %
22.2 %
(730) bps
CSA segment sales declined 3%. Organic sales were down 3% driven by Residential, down about 12%, partially offset by strength in Light Commercial and Commercial1, up 9% and 1% respectively.
CSE segment sales increased 11%. Organic sales were flat with RLC up low-single digits and Commercial down mid-single digits.
Segment operating margin decreased 210 basis points driven by lower Commercial volume and higher promotions partially offset by RLC volume growth and strong productivity.
Climate Solutions Asia Pacific, Middle East & Africa (CSAME)
(Unaudited)
Three Months Ended
March 31,
(In millions)
2026
2025
Change
Net sales
$ 834
$ 826
1 %
Organic sales
(1) %
Segment operating profit
$ 81
$ 121
(33) %
Segment operating margin
9.7 %
14.6 %
(490) bps
CSAME segment sales increased 1%. Organic sales were down 1% mainly driven by RLC in China, partially offset by strong Commercial growth outside of China, particularly in India and Australia.
Segment operating margin decreased 490 basis points as expected, driven mainly by China RLC.
Climate Solutions Transportation (CST)
(Unaudited)
Three Months Ended
March 31,
(In millions)
2026
2025
Change
Net sales
$ 713
$ 651
10 %
Organic sales
5 %
Segment operating profit
$ 101
$ 97
4 %
Segment operating margin
14.2 %
14.9 %
(70) bps
CST sales increased 10% driven by strong growth in Container. Organic sales increased 5% with 38% growth in Container, partially offset by a decline in Global Truck and Trailer, down high-single digits.
Segment operating margin declined 70 basis points, due to unfavorable mix.
Cash Flow
(Unaudited)
Three Months Ended
March 31,
(In millions)
2026
2025
Net cash flows provided by operating activities
$ 79
$ 483
Less: Capital expenditures
(94)
(63)
Free cash flow
$ (15)
$ 420
Net cash flows generated from operating activities were $79 million and capital expenditures were $94 million, resulting in free cash flow of ($15) million.
Full-Year 2026 Guidance**
Current Guidance**
Prior Guidance
Sales
~$22 billion
~$250 million revenue headwind from Riello exit
Organic* flat to up LSD
FX 1%
Net, Acquisitions / Divestitures (1%)
~$22 billion
~$350 million revenue headwind from Riello exit
Organic* flat to up LSD
FX 1%
Net, Acquisitions / Divestitures (1%)
Adjusted Operating Profit*
~$3.4 billion
~$3.4 billion
Adjusted EPS*
~$2.80
~$2.80
Free Cash Flow*
~$2 billion
~$2 billion
Riello divestiture expected to close by the end of Q2 2026; prior guidance assumed the divestiture closed by the end of Q1 2026.
*Note: When the company provides expectations for organic sales, adjusted operating profit, adjusted EPS and free cash flow on a forward-looking basis, a reconciliation of the differences between the non-GAAP expectations and the corresponding GAAP measures generally is not available without unreasonable effort. See "Use and Definitions of Non-GAAP Financial Measures" below for additional information.
**As of April 30, 2026
Conference Call
Carrier will host a webcast of its earnings conference call today, Thursday, April 30, 2026, at 7:30 a.m. ET. To access the webcast, visit the Events & Presentations section of the Carrier Investor Relations site at ir.carrier.com/news-and-events/events-and-presentations. For alternative dial-in information, please contact Carrier Investor Relations at [email protected].
Cautionary Statement
This communication contains statements which, to the extent they are not statements of historical or present fact, constitute "forward-looking statements" under the securities laws. From time to time, oral or written forward-looking statements may also be included in other information released to the public. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. Forward-looking statements can be identified by the use of words such as "believe," "expect," "expectations," "plans," "strategy," "prospects," "estimate," "project," "target," "anticipate," "will," "should," "see," "guidance," "outlook," "confident," "scenario" and other words of similar meaning in connection with a discussion of future operating or financial performance. Forward-looking statements may include, among other things, statements relating to future sales, earnings, cash flow, results of operations, uses of cash, expectations relating to our sales backlog, share repurchases, tax rates and other measures of financial performance or potential future plans, strategies or transactions of Carrier, market conditions including with respect to residential end-markets, data center and otherwise, growth prospects for 2026 and beyond, expectations concerning the mitigation and net impact of tariffs during 2026, Carrier's guidance for full-year 2026, Carrier's plans with respect to our indebtedness and other statements that are not historical facts. All forward-looking statements involve risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the U.S. Private Securities Litigation Reform Act of 1995. Such risks, uncertainties and other factors include, without limitation, those described below and under the section titled "Risk Factors" in our most recent Annual Report on Form 10-K and in subsequent reports that we file with the SEC: the effect of economic conditions in the industries and markets in which Carrier and our businesses operate in the U.S. and globally and any changes therein, including financial market conditions, inflationary cost pressures, fluctuations in commodity prices, interest rates and foreign currency exchange rates, levels of end market demand in construction, the impact of weather conditions, pandemic health issues, natural disasters and the financial condition of our customers and suppliers; challenges in the development, production, delivery, support, performance and realization of the anticipated benefits of advanced technologies and new products and services; future levels of capital spending and research and development spending; future availability of credit and factors that may affect such availability, including credit market conditions and Carrier's capital structure and credit ratings; the timing and scope of future repurchases of Carrier's common stock, including market conditions and the level of other investing activities and uses of cash; delays and disruption in the delivery of materials and services from suppliers; cost reduction efforts and restructuring costs and savings and other consequences thereof; new business and investment opportunities; the outcome of legal proceedings, investigations and other contingencies; the impact of pension plan assumptions on future cash contributions and earnings; the impact of the negotiation of collective bargaining agreements and labor disputes; the effect of changes in political conditions in the U.S. and other countries in which Carrier and our businesses operate, including the effect of ongoing uncertainty and/or changes in U.S. trade policies, on general market conditions, global trade policies, the imposition of tariffs, and currency exchange rates in the near term and beyond; the effect of changes in tax, environmental, regulatory (including among other things import/export) and other laws and regulations in the U.S. and other countries in which we and our businesses operate; the ability of Carrier to retain and hire key personnel; the scope, nature, impact or timing of acquisition and divestiture activity, such as our portfolio transformation transactions, including among other things integration of acquired businesses into existing businesses and realization of synergies and opportunities for growth and innovation and incurrence of related costs; a determination by the IRS and other tax authorities that the distribution of Carrier from RTX Corporation (f/k/a United Technologies Corporation) or certain related transactions should be treated as taxable transactions; and risks associated with current and future indebtedness, as well as our ability to reduce indebtedness and the timing thereof. The forward-looking statements speak only as of the date of this communication. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Additional information as to factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements is disclosed from time to time in our other filings with the SEC.
About Carrier
Carrier Global Corporation, global leader in intelligent climate and energy solutions, is committed to creating innovations that bring comfort, safety and sustainability to life. Through cutting-edge advancements in climate solutions such as temperature control, air quality and transportation, we improve lives, empower critical industries and ensure the safe transport of food, life-saving medicines and more. Since inventing modern air conditioning in 1902, we lead with purpose: enhancing the lives we live and the world we share. We continue to lead because of our world-class, inclusive workforce that puts the customer at the center of everything we do. For more information, visit www.carrier.com or follow Carrier on social media at @Carrier.
Carrier. For the World We Share
CARR-IR
Contact:
Investor Relations
Michael Rednor
561-365-2020
[email protected]
Media Inquiries
Rob Six
561-281-2362
[email protected]
SELECTED FINANCIAL DATA, NON-GAAP MEASURES AND DEFINITIONS
Following are tables that present selected financial data of Carrier Global Corporation ("Carrier"). Also included are reconciliations of non-GAAP measures to their most comparable GAAP measures.
Use and Definitions of Non-GAAP Financial Measures
Carrier reports its financial results in accordance with accounting principles generally accepted in the United States ("GAAP"). We supplement the reporting of our financial information determined under GAAP with certain non-GAAP financial information. The non-GAAP information presented provides investors with additional useful information, but should not be considered in isolation or as substitutes for the related GAAP measures. Moreover, other companies may define non-GAAP measures differently, which limits the usefulness of these measures for comparisons with such other companies. We encourage investors to review our financial statements and publicly filed reports in their entirety and not to rely on any single financial measure. A reconciliation of the non-GAAP measures to the corresponding amounts prepared in accordance with GAAP appears in the tables in this Appendix. The tables provide additional information as to the items and amounts that have been excluded from the adjusted measures.
Organic sales, adjusted operating profit, adjusted operating margin, adjusted earnings per share ("EPS"), adjusted effective tax rate and net debt are non-GAAP financial measures and are associated with Carrier's continuing operations unless specifically noted.
Organic sales represents consolidated net sales (a GAAP measure), excluding the impact of foreign currency translation, acquisitions and divestitures completed in the preceding twelve months and other significant items of a nonoperational nature (hereinafter referred to as "other significant items"). Adjusted operating profit represents consolidated operating profit (a GAAP measure), excluding restructuring costs, amortization of acquired intangible assets and other significant items. Adjusted operating margin represents adjusted operating profit as a percentage of consolidated net sales (a GAAP measure). Adjusted EPS represents diluted earnings per share (a GAAP measure), excluding restructuring costs, amortization of acquired intangible assets and other significant items. The adjusted effective tax rate represents the effective tax rate (a GAAP measure), excluding restructuring costs, amortization of acquired intangible assets and other significant items. Net debt represents long-term debt (a GAAP measure) less cash and cash equivalents (a GAAP measure).
Segment operating profit is the measure of profit and loss that the Chief Operating Decision Maker uses to evaluate segment profitability. Segment operating profit represents operating profit (a GAAP measure) adjusted to exclude restructuring costs, amortization of acquired intangible assets and other significant items of a nonoperational nature.
Free cash flow is a non-GAAP financial measure that represents net cash flows provided by continuing operating activities (a GAAP measure) less capital expenditures. Management believes free cash flow is a useful measure of liquidity and an additional basis for assessing Carrier's ability to fund its activities, including the financing of acquisitions, debt service, repurchases of Carrier's common stock and distribution of earnings to shareowners. Orders are contractual commitments with customers to provide specified goods or services for an agreed upon price and may not be subject to penalty if cancelled.
When Carrier provides our expectations for organic sales, adjusted operating profit (including on a segment basis), adjusted operating margin (including on a segment basis), adjusted effective tax rate, adjusted EPS, free cash flow, and interest expense, net on a forward-looking basis, a reconciliation of the differences between the non-GAAP expectations and the corresponding GAAP measures generally is not available without unreasonable effort due to potentially high variability, complexity and low visibility as to the items that would be excluded from the GAAP measure in the relevant future period, such as unusual gains and losses, the ultimate outcome of pending litigation, fluctuations in foreign currency exchange rates, the impact and timing of potential acquisitions and divestitures, future restructuring costs, and other structural changes or their probable significance. The variability of the excluded items may have a significant, and potentially unpredictable, impact on our future GAAP results.
Carrier Global Corporation
Condensed Consolidated Statement of Operations
(Unaudited)
Three Months Ended
March 31,
(In millions, except per share amounts)
2026
2025
Net sales
Product sales
$ 4,667
$ 4,652
Service sales
674
566
Total Net sales
5,341
5,218
Costs and expenses
Cost of products sold
(3,591)
(3,358)
Cost of services sold
(506)
(415)
Research and development
(143)
(153)
Selling, general and administrative
(861)
(729)
Total Costs and expenses
(5,101)
(4,655)
Equity method investment net earnings
31
44
Other income (expense), net
(12)
22
Operating profit
259
629
Non-service pension benefit (expense)
1
1
Interest (expense) income, net
(90)
(82)
Earnings before income taxes
170
548
Income tax (expense) benefit
96
(111)
Earnings from continuing operations
266
437
Discontinued operations, net of tax
(1)
—
Net earnings (loss)
265
437
Less: Non-controlling interest in subsidiaries'
27
25
Net earnings (loss) attributable to common shareowners
$ 238
$ 412
Amounts attributable to common shareowners:
Continuing operations
$ 239
$ 412
Discontinued operations
(1)
—
Net earnings (loss) attributable to common shareowners
$ 238
$ 412
Earnings per share
Basic:
Continuing operations
$ 0.29
$ 0.47
Discontinued operations
—
—
Net earnings (loss)
$ 0.29
$ 0.47
Diluted:
Continuing operations
$ 0.28
$ 0.47
Discontinued operations
—
—
Net earnings (loss)
$ 0.28
$ 0.47
Weighted-average number of shares outstanding
Basic
835.0
866.9
Diluted
842.8
878.3
Carrier Global Corporation
Condensed Consolidated Balance Sheet
(Unaudited)
(In millions)
March 31, 2026
December 31, 2025
Assets
Cash and cash equivalents
$ 1,371
$ 1,555
Accounts receivable, net
3,130
2,639
Inventories, net
2,581
2,483
Assets held for sale
621
592
Other current assets
1,315
1,264
Total current assets
9,018
8,533
Future income tax benefits
1,137
1,074
Fixed assets, net
3,122
3,165
Operating lease right-of-use assets
551
546
Intangible assets, net
5,987
6,326
Goodwill
15,313
15,501
Pension and post-retirement assets
58
56
Equity method investments
1,331
1,321
Other assets
669
668
Total Assets
$ 37,186
$ 37,190
Liabilities and Equity
Accounts payable
$ 2,979
$ 2,702
Accrued liabilities
3,700
3,774
Liabilities held for sale
170
170
Short-term borrowings and current portion of long-term debt
1,736
468
Total current liabilities
8,585
7,114
Long-term debt
10,422
11,365
Future pension and post-retirement obligations
188
192
Future income tax obligations
1,688
1,833
Operating lease liabilities
415
418
Other long-term liabilities
2,087
2,140
Total Liabilities
23,385
23,062
Equity
Common stock
10
10
Treasury stock
(7,104)
(6,795)
Additional paid-in capital
8,675
8,665
Retained earnings
12,431
12,193
Accumulated other comprehensive income (loss)
(560)
(269)
Non-controlling interest
349
324
Total Equity
13,801
14,128
Total Liabilities and Equity
$ 37,186
$ 37,190
Carrier Global Corporation
Condensed Consolidated Statement of Cash Flows
(Unaudited)
Three Months Ended
March 31,
(In millions)
2026
2025
Operating Activities
Net earnings (loss)
$ 265
$ 437
Discontinued operations, net of tax
1
—
Adjustments for non-cash items, net:
Depreciation and amortization
315
303
Deferred income tax provision
(179)
(69)
Stock-based compensation costs
21
23
Equity method investment net earnings
(31)
(44)
(Gain) loss on sale of investments
(3)
(5)
Changes in operating assets and liabilities
Accounts receivable, net
(509)
(362)
Inventories, net
(138)
(301)
Accounts payable and accrued liabilities
351
481
Distributions from equity method investments
12
77
Other operating activities, net
(39)
(52)
Net cash flows provided by (used in) continuing operating activities
66
488
Net cash flows provided by (used in) discontinued operating activities
13
(5)
Net cash flows provided by (used in) operating activities
79
483
Investing Activities
Capital expenditures
(94)
(63)
Investment in businesses, net of cash acquired
(23)
(12)
Dispositions of businesses
8
8
Settlement of derivative contracts, net
35
36
Other investing activities, net
9
1
Net cash flows provided by (used in) continuing investing activities
(65)
(30)
Net cash flows provided by (used in) discontinued investing activities
—
7
Net cash flows provided by (used in) investing activities
(65)
(23)
Financing Activities
Increase (decrease) in short-term borrowings, net
371
(49)
Issuance of long-term debt
22
9
Repayment of long-term debt
(16)
(1,205)
Repurchases of common stock
(306)
(1,288)
Dividends paid on common stock
(201)
(198)
Dividends paid to non-controlling interest
(1)
—
Other financing activities, net
(10)
(16)
Net cash flows provided by (used in) continuing financing activities
(141)
(2,747)
Net cash flows provided by (used in) discontinued financing activities
—
—
Net cash flows provided by (used in) financing activities
(141)
(2,747)
Effect of foreign exchange rate changes on cash and cash equivalents
(13)
17
Net increase (decrease) in cash and cash equivalents and restricted cash, including cash classified in
current assets held for sale
(140)
(2,270)
Less: Change in cash balances classified as assets held for sale
43
—
Net increase (decrease) in cash and cash equivalents and restricted cash
(183)
(2,270)
Cash, cash equivalents and restricted cash, beginning of period
1,557
3,972
Cash, cash equivalents and restricted cash, end of period
1,374
1,702
Less: restricted cash
3
4
Cash and cash equivalents, end of period
$ 1,371
$ 1,698
Carrier Global Corporation
Segment Summary
(Unaudited)
Three Months Ended
March 31,
(In millions)
2026
2025
Segment net sales
Climate Solutions Americas
$ 2,501
$ 2,572
Climate Solutions Europe
1,293
1,169
Climate Solutions Asia Pacific, Middle East & Africa
834
826
Climate Solutions Transportation
713
651
Segment net sales
$ 5,341
$ 5,218
Segment operating profit
Climate Solutions Americas
$ 373
$ 570
Climate Solutions Europe
89
105
Climate Solutions Asia Pacific, Middle East & Africa
81
121
Climate Solutions Transportation
101
97
Segment operating profit
$ 644
$ 893
Segment operating margin
Climate Solutions Americas
14.9 %
22.2 %
Climate Solutions Europe
6.9 %
9.0 %
Climate Solutions Asia Pacific, Middle East & Africa
9.7 %
14.6 %
Climate Solutions Transportation
14.2 %
14.9 %
Components of Changes in Net Sales
Three Months Ended March 31, 2026, Compared withThree Months Ended March 31, 2025
(Unaudited)
Factors Contributing to Total % change in Net Sales
Organic
FX
Translation
Acquisitions /
Divestitures, net
Other
Total
Climate Solutions Americas
(3) %
— %
— %
— %
(3) %
Climate Solutions Europe
— %
11 %
— %
— %
11 %
Climate Solutions Asia Pacific, Middle East & Africa
(1) %
2 %
— %
— %
1 %
Climate Solutions Transportation
5 %
5 %
— %
— %
10 %
Consolidated
(1) %
3 %
— %
— %
2 %
Carrier Global Corporation
Reconciliations
(Unaudited)
Three Months Ended
March 31,
(In millions)
2026
2025
Reconciliation to Earnings before income taxes
Segment operating profit
$ 644
$ 893
Corporate and other
(50)
(45)
Restructuring costs
(108)
(8)
Amortization of acquired intangible assets
(213)
(201)
Acquisition/divestiture-related costs
(14)
(10)
Non-service pension (expense) benefit
1
1
Interest (expense) income, net
(90)
(82)
Earnings before income taxes
$ 170
$ 548
(Unaudited)
Three Months Ended
March 31,
(In millions)
2026
2025
Reconciliation of Segment operating profit to Adjusted operating profit
Climate Solutions Americas
$ 373
$ 570
Climate Solutions Europe
89
105
Climate Solutions Asia Pacific, Middle East & Africa
81
121
Climate Solutions Transportation
101
97
Segment operating profit
$ 644
$ 893
Corporate and other
(50)
(45)
Adjusted operating profit
$ 594
$ 848
Carrier Global Corporation
Reconciliation of Reported (GAAP) to Adjusted (Non-GAAP) Results
Net Income, Earnings Per Share and Effective Tax Rate
(Unaudited)
Three Months Ended March 31, 2026
(In millions, except per share amounts)
Reported
Adjustments
Adjusted
Net sales
$ 5,341
$ —
$ 5,341
Operating profit
$ 259
335
a
$ 594
Operating margin
4.8 %
11.1 %
Earnings before income taxes
$ 170
335
a
$ 505
Income tax (expense) benefit
$ 96
(92)
b
$ 4
Effective tax rate
(56.5) %
(0.8) %
Earnings from continuing operations attributable to common shareowners
$ 239
$ 243
$ 482
Summary of Adjustments:
Restructuring costs
$ 108
a
Amortization of acquired intangible assets
213
a
Acquisition/divestiture-related costs
14
a
Total adjustments
$ 335
Tax effect on adjustments above
$ (92)
Total tax adjustments
$ (92)
b
Diluted shares outstanding
842.8
842.8
Diluted earnings per share:
Continuing operations
$ 0.28
$ 0.57
Carrier Global Corporation
Reconciliation of Reported (GAAP) to Adjusted (Non-GAAP) Results
Net Income, Earnings Per Share and Effective Tax Rate
(Unaudited)
Three Months Ended March 31, 2025
(In millions, except per share amounts)
Reported
Adjustments
Adjusted
Net sales
$ 5,218
$ —
$ 5,218
Operating profit
$ 629
219
a
$ 848
Operating margin
12.1 %
16.3 %
Earnings before income taxes
$ 548
219
a
$ 767
Income tax (expense) benefit
$ (111)
(58)
b
$ (169)
Effective tax rate
20.3 %
22.0 %
Earnings from continuing operations attributable to common shareowners
$ 412
$ 161
$ 573
Summary of Adjustments:
Restructuring costs
$ 8
a
Amortization of acquired intangible assets
201
a
Acquisition/divestiture-related costs
10
a
Total adjustments
$ 219
Tax effect on adjustments above
$ (58)
Total tax adjustments
$ (58)
b
Diluted shares outstanding
878.3
878.3
Diluted earnings per share:
Continuing operations
$ 0.47
$ 0.65
Free Cash Flow Reconciliation
(Unaudited)
Three Months Ended
March 31,
(In millions)
2026
2025
Net cash flows provided by operating activities
$ 79
$ 483
Less: Capital expenditures
(94)
(63)
Free cash flow
$ (15)
$ 420
Net Debt Reconciliation
(Unaudited)
(In millions)
March 31, 2026
December 31, 2025
Long-term debt
$ 10,422
$ 11,365
Short-term borrowings and current portion of long-term debt
Revenue was $5.34 billion. The estimated revenue was $5.01 billion.GAAP EPS was $0.28. The estimated EPS was $0.39.Adjusted EPS was $0.57. The estimated EPS was $0.39.Organic sales declined 1%. Foreign currency provided a 3% tailwind.Total orders increased 11%. Commercial HVAC orders increased 35%.Data center orders increased over 500%, with backlog fully covering expected 2026 data center sales.Free cash flow was ($15) million. Shareholder returns were approximately $500 million. On April 30, 2026, Carrier Global Corp CARR released its 8-K filing detailing first quarter 2026 results. Carrier Global, spun out of United Technologies in 2020, manufactures and services commercial and residential HVAC systems and transportation refrigeration solutions under its flagship Carrier brand, as well as Bryant, Payne, Heil, and others across various price points. In 2024, Carrier acquired Viessmann Climate Solutions to expand its footprint in Europe with heat pumps, boilers, and solar PV equipment. Proceeds from the sale of Carrier's fire and security (Honeywell) and commercial refrigeration (Haier) businesses reduced debt and focused the company on global HVAC and refrigeration solutions. Carrier generates 75% of sales from equipment and 25% from parts and services. The company derives 50% of revenue from the US, 30% from Europe, and 20% from the Asia-Pacific region.
Quarterly performance versus expectations Carrier Global Corp CARR reported first-quarter net sales of $5.34 billion, an increase of 2% year over year. The company’s reported revenue of $5.34 billion was higher than the estimated revenue of $5.01 billion. Organic sales declined 1%, which was more than offset by a 3% benefit from foreign currency.
GAAP diluted EPS from continuing operations was $0.28, which was below the estimated EPS of $0.39. Adjusted EPS was $0.57, which was higher than the estimated EPS of $0.39.
GAAP operating profit declined 59% to $259 million as margins compressed to 4.8%. Adjusted operating profit decreased 30% to $594 million with an adjusted operating margin of 11.1%. The filing attributes the declines predominantly to lower sales in CSA Residential and continued headwinds in China Residential and Light Commercial, partially offset by a lower tax rate and a reduced share count.
Consolidated Metrics Q1 2026 Q1 2025 Change Net sales ($B) 5.341 5.218 +2% Operating profit ($M) 259 629 -59% Operating margin 4.8% 12.1% -730 bps Adjusted operating profit ($M) 594 848 -30% Adjusted operating margin 11.1% 16.3% -520 bps GAAP EPS (cont. ops) $0.28 $0.47 -40% Adjusted EPS (cont. ops) $0.57 $0.65 -12%Segment results and industry context Climate Solutions Americas (CSA) sales declined 3% to $2.50 billion with organic sales down 3%. Residential decreased about 12%, while Light Commercial increased 9% and Commercial increased 1%. Segment operating margin fell 730 basis points to 14.9% due to lower residential volumes and factory under-absorption.
Climate Solutions Europe (CSE) sales increased 11% to $1.29 billion. Organic sales were flat as Residential & Light Commercial grew low single digits and Commercial declined mid-single digits. Segment margin decreased 210 basis points to 6.9% on lower Commercial volume and higher promotions, partially offset by RLC volume growth and productivity.
Climate Solutions Asia Pacific, Middle East & Africa (CSAME) sales increased 1% to $834 million, with organic sales down 1% mainly from China RLC softness. Segment margin contracted 490 basis points to 9.7%.
Climate Solutions Transportation (CST) delivered 10% sales growth to $713 million. Organic sales rose 5% as Container grew 38%, offset by high-single-digit declines in Global Truck & Trailer. Segment margin eased 70 basis points to 14.2% on mix.
Segment Sales Q1 2026 ($M) Sales Q1 2025 ($M) Op Profit Q1 2026 ($M) Op Profit Q1 2025 ($M) Op Margin Q1 2026 Op Margin Q1 2025 CSA 2,501 2,572 373 570 14.9% 22.2% CSE 1,293 1,169 89 105 6.9% 9.0% CSAME 834 826 81 121 9.7% 14.6% CST 713 651 101 97 14.2% 14.9%Cash flow and capital allocation Net cash flows from operating activities were $79 million compared with $483 million in the prior year. Capital expenditures were $94 million versus $63 million last year. Free cash flow was ($15) million compared with $420 million a year ago. Carrier returned approximately $500 million to shareholders through dividends and repurchases during the quarter.
Management commentary“We started the year with better than expected sales performance across the portfolio,” said Chairman & CEO David Gitlin. “Orders in our global Commercial HVAC1 business increased 35%, helped by data centers which were up over 500% in the quarter. The strong double-digit sequential increase in Commercial HVAC backlog gives us the confidence to drive our sixth consecutive year of double-digit growth in this business. CSA Light commercial and CSE Residential both delivered growth, while CSA Residential came in better than expected. I am pleased with the team's performance in the first quarter, and we are reaffirming our full-year outlook.”Why the performance and challenges matter The quarter underscores a mixed setup for construction-related suppliers. Robust demand in Commercial HVAC and data centers is driving orders and backlog, which is crucial for near-term revenue visibility and manufacturing efficiency. However, margin compression from weaker residential volumes in the Americas and continued China RLC pressure weighed on profitability, reducing operating leverage and free cash generation.
For an HVAC and refrigeration manufacturer, segment mix and volume throughput are key to margins. The decline in CSA Residential created under-absorption that pulled down consolidated operating margin by 730 basis points. Meanwhile, CSE’s promotional activity and lower Commercial volumes indicate competitive intensity and uneven regional demand, while CST’s strong Container growth highlights resilient cold-chain and logistics exposure despite mix headwinds.
Additional key details and metrics Total company orders increased 11% year over year, while Commercial HVAC orders increased 35%. Data center orders increased over 500%, and the company reported that backlog fully covers expected 2026 data center sales. The filing also notes that declines in EPS were driven by lower operating profit, partially offset by a lower tax rate and a reduced share count.
Analysis Carrier Global Corp CARR outpaced revenue expectations and delivered an adjusted EPS result above consensus, highlighting resilience in non-residential and data center demand. The downside came through materially lower GAAP and adjusted operating margins tied to residential softness and China RLC, which curtailed operating leverage and pressured free cash flow relative to last year.
For value-oriented investors, the combination of double-digit Commercial HVAC order growth and expanding data center exposure may help stabilize near-term revenue, but the path to margin recovery will likely depend on improved residential volumes in the Americas and normalization in China RLC. Carrier’s continued capital returns alongside portfolio streamlining support a focused HVAC and refrigeration profile, though the quarter’s cash generation was subdued versus the prior year.
GuruFocus Valuation Check Based on GuruFocus’ proprietary metrics, Carrier Global Corp CARR appears modestly undervalued. The GF Value stands at $66.5 against a current price of $61.74, indicating the shares are 7.2% undervalued relative to intrinsic value estimates.
The company’s GF Score is 82/100, which is considered strong. A Profitability Rank of 7/10 and a Growth Rank of 6/10 suggest a balanced profile with solid earnings quality and reasonable expansion prospects. Financial Strength at 5/10 implies a mid-range balance sheet and liquidity position that investors should monitor, especially given recent margin compression and lower free cash flow. Predictability is rated at 0 stars, indicating historical results have been less consistent, which can increase risk when forecasting future performance. The Moat Score of 7/10 reflects competitive advantages typical of scaled HVAC platforms with strong brands and installed base.
Insider Activity shows no insider transactions in the last three months. The absence of notable insider buying removes a potential bullish signal, while the lack of selling avoids a cautionary flag. For a deeper dive, visit the Carrier Global Corp stock page on GuruFocus.
Explore the complete 8-K earnings release (here) from Carrier Global Corp for further details.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Carrier Global (CARR - Free Report) came out with quarterly earnings of $0.57 per share, beating the Zacks Consensus Estimate of $0.51 per share. This compares to earnings of $0.65 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +12.94%. A quarter ago, it was expected that this company would post earnings of $0.36 per share when it actually produced earnings of $0.34, delivering a surprise of -5.56%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Carrier Global, which belongs to the Zacks Building Products - Air Conditioner and Heating industry, posted revenues of $5.34 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 6.07%. This compares to year-ago revenues of $5.22 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Carrier Global shares have added about 16.8% since the beginning of the year versus the S&P 500's gain of 4.2%.
What's Next for Carrier Global?While Carrier Global has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Carrier Global was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.82 on $5.75 billion in revenues for the coming quarter and $2.74 on $21.83 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Building Products - Air Conditioner and Heating is currently in the top 39% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Aaon (AAON - Free Report) , is yet to report results for the quarter ended March 2026. The results are expected to be released on May 7.
This maker of air conditioning and heating equipment is expected to post quarterly earnings of $0.31 per share in its upcoming report, which represents a year-over-year change of -16.2%. The consensus EPS estimate for the quarter has been revised 2.7% lower over the last 30 days to the current level.
Aaon's revenues are expected to be $386.4 million, up 20% from the year-ago quarter.
Carrier Global reported quarterly earnings of 57 cents per share which beat the analyst consensus estimate of 51 cents per share. The company reported quarterly sales of $5.341 billion which beat the analyst consensus estimate of $5.008 billion.
Carrier shares rose 1.1% to trade at $67.87 on Friday.
These analysts made changes to their price targets on Carrier following earnings announcement.
Considering buying CARR stock? Here’s what analysts think:
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Key Takeaways Carrier Global beat Q1 estimates with revenue up 2.4% year over year. CARR saw HVAC strength, with data center orders up more than 500%. Carrier Global's margins fell due to weak Residential and China demand. Carrier Global (CARR - Free Report) shares closed at $67.17 on May 1 since the company reported its first-quarter 2026 results on April 30.
The company delivered adjusted earnings of 57 cents per share in the first quarter of 2026, down 12.3% from the year-ago period but surpassed the Zacks Consensus Estimate by 12.94%.
Revenues of $5.34 billion increased 2.4% year over year and topped the consensus mark by 6.07%. Product sales (87.4% of net sales) of $4.66 billion increased 0.3% year over year. Service sales (12.6% of net sales) of $674 million rose 19.1% year over year. While total company revenue expanded year over year, organic sales declined 1%, and foreign currency provided a 3% tailwind.
Momentum in Commercial HVAC helped set the tone, with data center demand standing out and management noting that backlog fully covers expected 2026 data center sales. On the orders front, Carrier saw strong momentum. Total company orders increased 11%, with Commercial HVAC orders up 35% and data center orders surging more than 500%.
CARR’s Quarter in DetailClimate Solutions Americas remained the largest contributor, with revenues of $2.50 billion, down 3% year over year and 3% organic decline. Residential revenue was down about 12%, partially offset by strength in Light Commercial (up 9%) and Commercial (up 1% organically).
Climate Solutions Europe posted revenues of $1.29 billion, up 11% year over year, with organic sales flat. Management cited continued electrification trends and heat pump strength across Europe, though Commercial was down mid-single digits.
Climate Solutions Asia Pacific, Middle East & Africa revenue rose 1% year over year to $834 million, while organic sales fell 1% as China Residential and Light Commercial remained a headwind.
Climate Solutions Transportation revenue increased 10% year over year to $713 million. Organic sales increased 5% year over year with 38% growth in Container, partially offset by a decline in Global Truck and Trailer, down high single digits.
Carrier's Operating DetailsResearch & development (R&D) expenses decreased 6.5% year over year to $143 million. As a percentage of revenues, R&D expenses declined 30 basis points (bps) year over year. Selling, general & administrative (SG&A) expenses increased 18.1% year over year to $861 million. As a percentage of revenues, SG&A expenses expanded 210 bps year over year.
Adjusted operating margin contracted 510 bps on a year-over-year basis to 11.1%. Management tied the year-over-year pressure primarily to lower volume and under-absorption in the Americas Residential business and continued weakness in China Residential and Light Commercial.
At the segment level, Climate Solutions Americas' margin decreased to 14.9% from 22.2%, reflecting lower Residential sales and associated factory under-absorption. Climate Solutions Europe's margin declined to 6.9% from 9.0%, driven by lower Commercial volume and higher promotions, partially offset by productivity. Climate Solutions Asia Pacific, Middle East & Africa margin fell to 9.7% from 14.6% as China RLC weakness weighed, while the Transportation margin edged down to 14.2% from 14.9% due to an unfavorable mix.
CARR’s Balance SheetCarrier ended March 31, 2026, with cash and cash equivalents of $1.37 billion compared with $1.55 billion as of Dec. 31, 2025.
Total short-term borrowings plus current portion of long-term debt rose to $1.74 billion, while long-term debt stood at $10.42 billion.
Net cash provided by operating activities was $79 million, and free cash flow was an outflow of $15 million.
In the first quarter of 2025, CARR returned approximately $500 million to shareholders through dividends and repurchases.
Carrier Reaffirms 2026 TargetsCarrier reaffirmed its full-year 2026 guidance, calling for approximately $22 billion in sales, with organic growth flat to up low single digits.
The company continues to expect adjusted operating profit of roughly $3.4 billion, adjusted earnings of about $2.80 per share and free cash flow of around $2 billion.
CARR Zacks Rank & Stocks to ConsiderCarrier currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Construction sector include Janus International Group (JBI - Free Report) , Johnson Controls International (JCI - Free Report) , and Toll Brothers (TOL - Free Report) . Each stock currently carries a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Janus International Group have plunged 22.4% in the year-to-date period. Janus International Group is set to report the first quarter 2026 results on May 12.
Shares of Johnson Controls International have gained 21.4% in the year-to-date period. Johnson Controls International is slated to report second-quarter fiscal 2026 results on May 6.
Toll Brothers shares have gained 28.7% in the year-to-date period. Toll Brothers is set to report second-quarter fiscal 2026 results on May 20.
Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR) Chairman & CEO David Gitlin will speak at the Wolfe Research 19th Annual Global Transportation & Industrials Conference on Tuesday, May 19, 2026, at 12:50 p.m. ET.
The event will be broadcast live at ir.carrier.com. A webcast replay will be available on the website following the event.
About Carrier
Carrier Global Corporation, global leader in intelligent climate and energy solutions, is committed to creating innovations that bring comfort, safety and sustainability to life. Through cutting-edge advancements in climate solutions such as temperature control, air quality and transportation, we improve lives, empower critical industries and ensure the safe transport of food, life-saving medicines and more. Since inventing modern air conditioning in 1902, we lead with purpose: enhancing the lives we live and the world we share. We continue to lead because of our world-class, inclusive workforce that puts the customer at the center of everything we do. For more information, visit carrier.com or follow Carrier on social media at @Carrier.
Carrier Global faces slowing growth and margin contraction due to cost pressures and weak housing demand. CARR's Q1 2026 net sales rose 2.4% YoY, but operating margin dropped sharply to 4.8% from 12.0%. Valuation appears stretched, with P/S at 2.54x above the 2.28x average and technicals signaling overbought conditions.
PALM BEACH GARDENS, Fla., May 11, 2026 /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR) Chairman & CEO David Gitlin will speak at the Wolfe Research 19th Annual Global Transportation & Industrials Conference on Tuesday, May 19, 2026, at 9:10 a.m.
On May 15, 2026, Carrier Global Corp CARR shares fell 3.1% to a current price of $64.91. This decline comes amid a 52-week range of $50.24 to $81.09, reflecting a volatile year for the company.
GF Value™ verdict: Current price is $64.91, which is 3.6% below the GF Value™ estimate of $67.30.GF Score™ is 81/100, indicating a strong overall rating.Most notable signal: No insider transactions have occurred in the last 3 months. Is CARR Overvalued or Undervalued? Carrier Global Corp's current price of $64.91 reflects a 3.6% discount to the GF Value™ of $67.30, suggesting that the stock is slightly undervalued. With a margin of safety present, this may present an opportunity for investors looking to capitalize on potential price appreciation. However, it is crucial to consider that while the GF Valuation label indicates that the stock is fairly valued, this classification can vary based on market conditions and individual investment horizons. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.
Investors might find this undervaluation appealing, but they should remain cautious of market volatility and the broader economic landscape that could impact future performance. The slight undervaluation does present a potential opportunity, yet it is essential to conduct thorough research before making any investment decisions.
How Does CARR's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 42.7x 17.9x Forward P/E 23.2x - The current P/E ratio of 42.7x is significantly above its 5-year median P/E of 17.9x, indicating that the stock is trading at a premium compared to its historical valuation. This analysis aligns with the GF Value™ verdict, suggesting that while CARR may be undervalued based on its GF Value™, the elevated P/E ratio raises concerns about potential overvaluation relative to its own historical performance.
What Does CARR's GF Score™ Tell Us? Metric Rating GF Score™ 81/100 Financial Strength 5/10 Profitability 7/10 Growth 6/10 Valuation 9/10 Momentum 7/10 The GF Score™ of 81/100 indicates a strong overall position for Carrier Global Corp, with particular strengths in the Valuation rank at 9/10 and Profitability at 7/10. However, the Financial Strength score of 5/10 suggests that there could be some concerns regarding the company's balance sheet and long-term viability. The Growth rank of 6/10 indicates moderate growth prospects, while the Momentum rank of 7/10 highlights a positive short-term performance trend.
What Are Insiders Doing with CARR Stock? In the last three months, there have been no insider transactions involving Carrier Global Corp. This lack of insider activity may suggest that executives and insiders are not currently buying or selling shares, which could be interpreted as a neutral signal regarding their confidence in the company's future prospects. However, it is essential to consider other factors beyond insider activity when evaluating the company's overall performance and potential.
What This Means for Investors Based on the GF Value™ assessment, Carrier Global Corp is currently undervalued with a price that sits 3.6% below the estimated fair value. However, the elevated P/E ratio compared to historical averages warrants a cautious approach, as it may indicate potential overvaluation risks. Investors should carefully consider this information in conjunction with other financial metrics and market conditions before making decisions.
For the complete analysis, visit the Carrier Global Corp CARR stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.
Frequently Asked Questions What is CARR's GF Score™?
The GF Score™ for Carrier Global Corp is 81/100, indicating a strong overall rating based on key aspects such as financial strength, profitability, and valuation.
Is CARR overvalued or undervalued?
CARR is currently undervalued, with a price that is 3.6% below the GF Value™ estimate of $67.30.
What is CARR's P/E ratio?
CARR's P/E (TTM) is 42.7x, which is significantly higher than its 5-year median P/E of 17.9x, indicating a premium valuation relative to its historical performance.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR) Chairman & CEO David Gitlin will speak at the Wells Fargo 16th Annual Industrials & Materials Conference on Tuesday, June 9, 2026, at 10:15 a.m. CT (11:15 a.m. ET).
The event will be broadcast live at ir.carrier.com. A webcast replay will be available on the website following the event.
About Carrier
Carrier Global Corporation, global leader in intelligent climate and energy solutions, is committed to creating innovations that bring comfort, safety and sustainability to life. Through cutting-edge advancements in climate solutions such as temperature control, air quality and transportation, we improve lives, empower critical industries and ensure the safe transport of food, life-saving medicines and more. Since inventing modern air conditioning in 1902, we lead with purpose: enhancing the lives we live and the world we share. We continue to lead because of our world-class, inclusive workforce that puts the customer at the center of everything we do. For more information, visit carrier.com or follow Carrier on social media at @Carrier.
Carrier. For the World We Share.
CARR-IR
Contact:
Media Inquiries
Rob Six
561-281-2362
[email protected]
Investor Relations
Michael Rednor
561-365-2020
[email protected]
, /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, announced today that its Board of Directors declared a quarterly dividend of $0.24 per outstanding share of Carrier common stock. The dividend will be payable on August 10, 2026 to shareowners of record at the close of business on July 21, 2026.
About Carrier
Carrier Global Corporation, global leader in intelligent climate and energy solutions, is committed to creating innovations that bring comfort, safety and sustainability to life. Through cutting-edge advancements in climate solutions such as temperature control, air quality and transportation, we improve lives, empower critical industries and ensure the safe transport of food, life-saving medicines and more. Since inventing modern air conditioning in 1902, we lead with purpose: enhancing the lives we live and the world we share. We continue to lead because of our world-class, inclusive workforce that puts the customer at the center of everything we do. For more information, visit carrier.com or follow Carrier on social media at @Carrier.
Carrier. For the World We Share.
Cautionary Statement
This communication contains statements which, to the extent they are not statements of historical or present fact, constitute "forward-looking statements" under the securities laws. These forward-looking statements are intended to provide management's current expectations or plans for Carrier's future payment of a dividend, based on assumptions currently believed to be valid. Forward-looking statements can be identified by the use of words such as "believe," "expect," "expectations," "plans," "strategy," "prospects," "estimate," "project," "target," "anticipate," "will," "should," "see," "guidance," "outlook," "confident," "scenario" and other words of similar meaning in connection with a discussion of future operating or financial performance. Forward-looking statements may include, among other things, statements relating to future sales, earnings, cash flow, results of operations, uses of cash, share repurchases, tax rates and other measures of financial performance or potential future plans, strategies or transactions of Carrier, Carrier's plans with respect to its indebtedness and other statements that are not historical facts. All forward-looking statements involve risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. For additional information on identifying factors that may cause actual results to vary materially from those stated in forward-looking statements, see Carrier's reports on Forms 10-K, 10-Q and 8-K filed with or furnished to the U.S. Securities and Exchange Commission from time to time. Any forward-looking statement speaks only as of the date on which it is made, and Carrier assumes no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
CARR-IR
Contact:
Media Inquiries
Rob Six
561-281-2362
[email protected]
Investor Relations
Michael Rednor
561-365-2020
[email protected]
