Earnings summaries and quarterly performance for CARRIER GLOBAL.
Executive leadership at CARRIER GLOBAL.
David Gitlin
Detailed
Chief Executive Officer
CEO
Ajay Agrawal
Detailed
Senior Vice President, Global Services, Business Development & Chief Strategy Officer
Beril Yildiz
Detailed
Vice President, Controller and Chief Accounting Officer
Gaurang Pandya
Detailed
President, HVAC Americas and CHVAC EMEA
Patrick Goris
Detailed
Senior Vice President and Chief Financial Officer
Board of directors at CARRIER GLOBAL.
Research analysts who have asked questions during CARRIER GLOBAL earnings calls.
Andrew Kaplowitz
Citigroup
6 questions for CARR
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Christopher Snyder
Morgan Stanley
6 questions for CARR
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Deane Dray
RBC Capital Markets
6 questions for CARR
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Jeffrey Sprague
Vertical Research Partners
6 questions for CARR
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Julian Mitchell
Barclays Investment Bank
6 questions for CARR
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Nigel Coe
Wolfe Research, LLC
6 questions for CARR
Also covers: AME, CNM, DOV +26 more
Andrew Obin
Bank of America
5 questions for CARR
Also covers: ALH, ALLE, AME +17 more
Amit Mehrotra
UBS
4 questions for CARR
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C. Stephen Tusa
JPMorgan Chase & Co.
3 questions for CARR
Also covers: ADSK, ANSS, APG +17 more
Joe Ritchie
Goldman Sachs
3 questions for CARR
Also covers: ALLE, ATS, ETN +15 more
Joseph O'Dea
Wells Fargo & Company
3 questions for CARR
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Joseph Ritchie
Goldman Sachs
3 questions for CARR
Also covers: ALLE, CGNX, CNM +22 more
Scott Davis
Melius Research
3 questions for CARR
Also covers: DD, DHR, DOV +16 more
Steve Tusa
JPMorgan Chase & Co.
3 questions for CARR
Also covers: AIN, ALTR, DD +15 more
Nicole DeBlase
Deutsche Bank
2 questions for CARR
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Noah Kaye
Oppenheimer & Co. Inc.
2 questions for CARR
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Stephen Volkmann
Jefferies
2 questions for CARR
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Thomas Moll
Stephens Inc.
2 questions for CARR
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Recent press releases and 8-K filings for CARR.
Carrier outlines 2026 growth outlook at Goldman Sachs Industrials and Materials Conference
CARR
Guidance Update
Share Buyback
- Carrier expects double-digit growth in 40% of its portfolio (aftermarket and commercial HVAC), modest declines in containers and RESI China (10%), and flattish performance in short-cycle businesses (50%), implying ~3–4% organic revenue growth for 2026.
- The company aims to reduce CSA-RESI field inventories by 30% YoY, leading to softer 4Q25 shipments and a ~$0.05 EPS headwind, prioritizing inventory alignment over order volumes.
- CSA-RESI outlook remains uncertain: on flat volumes, EPS could benefit by mid-single digits due to absent destocking, but tough 1H26 comparables and cautious guidance are planned for the February call.
- Data-center cooling bookings grew from $500 M in 2024 to $1 B in 2025, with $900 M backlog for 2026 and a 25% growth target next year, driven by new Maglev chillers and CDUs plus expanded capacity.
- Carrier completed its $3 B share buyback in 2025 and will continue repurchases through 2026, while targeting low-single-digit price increases (<5%) in RESI Americas in 2026 to maintain pricing discipline .
5 days ago
Carrier provides 2026 growth framework at Goldman Sachs conference
CARR
Guidance Update
Share Buyback
Demand Weakening
- Carrier expects 40% of its portfolio (aftermarket and commercial HVAC) to grow double digits in 2026, driven by share gains in chillers, and will complete a $3 billion share buyback in 2025 with continued repurchases in 2026.
- CSA-RESI field inventories are being reduced 30% YoY to about a 7.5 million-unit run rate (versus a 9 million-unit historical mean), leading to a slight $0.05 EPS drag in Q4 25 and a conservative 1Q 26 start.
- The 2026 revenue mix—40% high-growth, 10% headwinds (container and China RESI), and 50% short-cycle flattish segments—points to ~3–4% organic growth assuming flat shorter-cycle volumes.
- Data center cooling doubled to ~$1 billion in 2025, enters 2026 with $900 million backlog, and targets 25% growth through new liquid-cooling and chiller wins with hyperscalers.
5 days ago
Carrier outlines 2026 growth framework at Goldman Sachs Industrials Conference
CARR
Guidance Update
Share Buyback
Demand Weakening
- Since its spin-off, Carrier has built a balanced climate and energy solutions portfolio with 50% of revenues in the Americas and a robust aftermarket business, both expected to sustain double-digit growth into 2026.
- CSA-RESI is facing significant destocking: North American residential channel movement was down roughly 33% in November, and Carrier aims to cut field inventories by 30% y/y in 4Q25 by selectively managing shipments.
- For 2026, Carrier anticipates double-digit growth in 40% of its portfolio (aftermarket and commercial HVAC), a modest decline in 10% (container and China RESI), and flat performance in the remaining high-margin, short-cycle businesses, yielding overall revenue growth of 3–4%.
- The data center segment is backed by a $900 million backlog for 2026, underpinning expected growth of about 25% in that vertical next year.
- Carrier will complete its $3 billion share buyback in 2025 and continue repurchases through 2026, driving an estimated $0.20 EPS tailwind from capital allocation and fixed-cost reductions.
5 days ago
Carrier Global declares quarterly dividend increase to $0.24 per share
CARR
Dividends
- Carrier Global’s Board declared a quarterly dividend of $0.24 per share, payable February 9, 2026, to shareholders of record on January 20, 2026.
- This dividend marks a 200% increase since the company’s spin-off in early 2020, underscoring its disciplined capital allocation approach.
- CEO David Gitlin emphasized the commitment to returning capital to shareholders while continuing to invest in the business.
5 days ago
Carrier Global outlines 2026 outlook at Baird Global Industrial Conference
CARR
Guidance Update
Demand Weakening
Share Buyback
- Carrier expects the North American residential HVAC market at 7.5 million units in 2025 versus a historical norm of 9 million units, with a gradual recovery over several years and assumes a flat volume market for 2026.
- Data center revenues will double to $1 billion in 2025 with backlog extending into 2028, driving an expected 20–25% growth in this segment next year.
- Aiming to mitigate destocking headwinds by reducing field inventory by 30% by year-end (down over 25% as of October) and planning mid-single-digit price increases in Americas residential to offset input cost inflation.
- Committed to capital return, deploying $3 billion of share repurchases in 2025 and prioritizing similar buybacks in 2026, while maintaining a medium-term 6–8% organic growth target.
Nov 12, 2025, 6:00 PM
Carrier reports Q3 2025 results
CARR
Earnings
Share Buyback
- In Q3 2025, net sales were $5.579 billion, down 7% year-over-year (organic sales down 4%).
- Adjusted operating profit fell 21% to $823 million, with margins contracting to 14.8% (down 260 bps).
- Adjusted EPS was $0.67, down 13%, and free cash flow was $224 million.
- Climate Solutions Americas commercial sales grew 30% (data centers up ~250%), while residential sales declined ~30%.
- Carrier repurchased $2.4 billion of shares year-to-date and received board approval for a new $5 billion buyback authorization.
Oct 28, 2025, 11:30 AM
Carrier announces Q3 2025 results
CARR
Earnings
Guidance Update
Share Buyback
- Carrier reported Q3 2025 sales of $5.6 B, adjusted operating profit of $823 M, and adjusted EPS of $0.67.
- North American residential weakness created a $500 M sales headwind and a 20–25% EPS impact, partly offset by 30% growth in commercial HVAC and 12% aftermarket growth.
- Field inventories are on track to decline 30% year-over-year by year-end, reaching the lowest levels since 2018.
- 2025 guidance narrowed to $22 B in sales and $2.65 adjusted EPS, with ~$2 B free cash flow and $3 B of share repurchases.
- For 2026, the company targets low single-digit organic growth and a $0.20 per share EPS tailwind from carryover restructuring, a lower tax rate, and share buybacks.
Oct 28, 2025, 11:30 AM
Carrier Global reports Q3 2025 results
CARR
Earnings
Guidance Update
Share Buyback
- Q3 reported sales of $5.6 billion, adjusted operating profit of $823 million, adjusted EPS of $0.67, and free cash flow of $225 million; total company organic growth down 4% and adjusted EPS down 13% year-over-year.
- North American residential softness created about a $500 million sales challenge and a 20–25% EPS headwind, partially offset by Americas commercial HVAC sales up 30% and aftermarket growth of 12% in the quarter.
- Implemented aggressive cost actions, including elimination of ~3,000 indirect positions, and board approved a new $5 billion share repurchase authorization.
- 2025 guidance updated to ~$22 billion in sales, $2.65 adjusted EPS, $2 billion free cash flow, and $3 billion in share repurchases; Q4 residential sales expected down ~30% with volumes down ~40%.
Oct 28, 2025, 11:30 AM
Carrier Global reports Q3 2025 results
CARR
Earnings
Guidance Update
Share Buyback
- North American residential softness created about a $500 million sales headwind and a 20–25% adjusted EPS impact, while Americas commercial HVAC grew 30%, aftermarket was up 12%, and European residential heat pump sales rose 15%.
- Field inventories at end of Q3 were down 12% year-over-year and are expected to be 30% lower by year-end, the lowest level since 2018.
- The company is eliminating approximately 3,000 indirect positions as part of structural cost actions and the board approved a new $5 billion share repurchase authorization.
- Full-year guidance was lowered to about $22 billion in sales, $2.65 adjusted EPS, and $2 billion in free cash flow, with ~$3 billion of share buybacks; Q4 CS Americas residential sales are expected down 30%, volumes down 40%.
- For 2026, planning assumes low single-digit organic growth and a $0.20 EPS tailwind from carryover restructuring savings, a lower tax rate, and share repurchases.
Oct 28, 2025, 11:30 AM
Carrier Global reports Q3 2025 results
CARR
Earnings
Guidance Update
Share Buyback
- Net sales of $5.58 billion, down 7% year-over-year, with organic sales down 4% in Q3 2025.
- GAAP EPS of $0.47 and adjusted EPS of $0.67 for the quarter.
- Net cash from operating activities of $341 million and free cash flow of $224 million in Q3 2025.
- Returned $3 billion to shareholders year-to-date, including $2.4 billion in share repurchases; Board authorizes an additional $5 billion buyback.
- Maintains full-year 2025 guidance of approximately $22 billion in sales and $2.65 adjusted EPS.
Oct 28, 2025, 10:56 AM
Quarterly earnings call transcripts for CARRIER GLOBAL.
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