Financial Performance - For the three months ended March 31, 2025, net sales were $5.2 billion, a 4% decrease compared to the same period in 2024[124]. - Gross margin for the same period was $1.4 billion, a 4% increase year-over-year, with gross margin as a percentage of net sales rising to 27.7% from 25.6%[126]. - Operating profit increased by 63% to $629 million for the three months ended March 31, 2025, compared to $385 million in the same period of 2024[124]. - Operating expenses decreased by 18% to $816 million, primarily due to productivity initiatives and synergies from the integration of the VCS Business[127]. - Organic sales increased by 2% for the three months ended March 31, 2025, primarily driven by strong demand in the Climate Solutions Americas segment[125]. - For the three months ended March 31, 2025, the adjusted operating profit was $843 million, a 10.4% increase from $764 million in the same period of 2024[136]. Segment Performance - Climate Solutions Americas reported net sales of $2.6 billion, a 9% increase year-over-year, driven by a 20% increase in the residential business and a 15% increase in the commercial business[141]. - Segment operating profit for Climate Solutions Americas was $570 million, a 34% increase compared to $425 million in the prior year[142]. - Climate Solutions Europe experienced a 10% decrease in net sales to $1.2 billion, with a segment operating profit decline of 37% to $105 million[143][144]. - Climate Solutions Asia Pacific, Middle East & Africa reported net sales of $826 million, a 7% decrease, while segment operating profit increased by 12% to $121 million[145][146]. - Climate Solutions Transportation saw net sales decline by 26% to $651 million, with segment operating profit decreasing by 14% to $97 million[147][149]. Investments and Acquisitions - The company completed the acquisition of the climate solutions business of Viessmann Group, enhancing its portfolio in sustainable building solutions[119]. - The company divested its Commercial Refrigeration business during 2024, part of a broader portfolio transformation strategy[119]. - The company completed the divestiture of its Access Solutions business for cash proceeds of $5.0 billion on June 2, 2024[158]. - The divestiture of the Industrial Fire business was completed for cash proceeds of $1.4 billion on July 1, 2024[158]. Cash Flow and Debt - As of March 31, 2025, the company had cash and cash equivalents of $1.7 billion, down from $3.97 billion at the end of 2024[151]. - Total debt as of March 31, 2025, was $11.184 billion, a decrease from $12.278 billion at the end of 2024[154]. - The total debt to total capitalization ratio improved to 44% from 46% in the previous period[154]. - The company maintains a $2.0 billion commercial paper program and a $2.5 billion revolving credit facility, with no borrowings outstanding as of March 31, 2025[155]. - Net cash flows provided by continuing operating activities increased to $488 million for the three months ended March 31, 2025, compared to $45 million in the prior year[162]. - Net cash used in continuing investing activities was $30 million for the three months ended March 31, 2025, significantly lower than $11.1 billion in the same period of 2024[163]. - Net cash used in continuing financing activities was $2.7 billion for the three months ended March 31, 2025, primarily due to stock repurchases and long-term debt repayments[164]. Shareholder Returns - The company repurchased 19.0 million shares of common stock for an aggregate purchase price of $1.3 billion during the three months ended March 31, 2025[160]. - Dividends paid on common stock totaled $198 million during the three months ended March 31, 2025[161]. - The company declared a dividend of $0.23 per share of common stock payable on May 22, 2025[161]. - The company has authorized the repurchase of up to $7.1 billion of its outstanding common stock since February 2021[159]. Tax and Market Risk - The effective tax rate for the three months ended March 31, 2025, was 20.3%, up from 19.3% in the same period of 2024[133]. - There has been no significant change in the company's exposure to market risk during the three months ended March 31, 2025[165].

Carrier Global (CARR) Q1 2025 Earnings Call May 01, 2025 07:30 AM ET Company Participants Michael Rednor - Vice President of Investor RelationsDavid Gitlin - Chairman & CEOPatrick Goris - Senior VP & CFONigel Coe - Managing DirectorAndrew Kaplowitz - Managing DirectorSteve Tusa - Managing DirectorJeffrey Sprague - Founder and Managing PartnerDeane Dray - Managing DirectorJoseph O'Dea - Managing DirectorChris Snyder - Executive DirectorAmit Mehrotra - Managing DirectorStephen Volkmann - Managing DirectorTomm ...

Carrier Global (CARR) Q1 2025 Earnings Call May 01, 2025 07:30 AM ET Speaker0 Good morning, and welcome to Carrier's First Quarter twenty twenty five Earnings Conference Call. I would like to introduce your host for today's conference, Michael Retner, Vice President of Investor Relations. Please go ahead. Speaker1 Good morning and welcome to Carrier's First Quarter twenty twenty five Earnings Conference Call. On the call with me today are David Gitlin, Chairman and Chief Executive Officer and Patrick Goris, ...

Q1 2025 Earnings Conference Call May 1, 2025 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 financi ...

Exhibit 99.1 Carrier's first quarter sales of $5.2 billion were down 4% compared to the prior year. Organic sales growth of 2% was offset by a 5% headwind from net acquisitions and divestitures, driven by the sale of Commercial Refrigeration in Q4 2024. Foreign currency translation was a 1% headwind to sales growth. GAAP operating profit in the quarter of $629 million was up 63% from last year driven by operational performance, the absence of VCS backlog and inventory step-up amortization and decrease in ac ...

Net sales down 4% given prior year divestiture; organic sales up 2% GAAP EPS of $0.47 up 147% and adjusted EPS of $0.65 up 27% GAAP operating margin up 500 bps; adjusted operating margin up 210 bps Net cash flows from operating activities were $483 million and free cash flow was $420 million Returned $1.5 billion to shareholders through share repurchases and dividends and paid down $1.2 billion in debt Fully mitigating impact of tariffs in effect today Increasing full-year 2025 adjusted earnings per share ...

Carrier named Finalist for 2025 Manufacturing Leadership Award; LeanDNA recognized as a Partner in Collaborative InnovationPALM BEACH GARDENS, Fla., April 30, 2025 /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, has been named a finalist in the Digital Supply Chain category of the 2025 Manufacturing Leadership Awards, presented by the National Association of Manufacturers' Manufacturing Leadership Council.Carrier utilizes leading digital te ...

Carrier Global (CARR) is scheduled to report its first-quarter 2025 results on May 1.The Zacks Consensus Estimate for first-quarter earnings is pegged at 57 cents per share, unchanged over the past 30 days, suggesting a year-over-year decline of 8.06%.The Zacks Consensus Estimate for revenues is pegged at $5.11 billion, indicating a 17.4% year-over-year decline.Carrier Global’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 8.68%. (Find the ...

PALM BEACH GARDENS, Fla., April 22, 2025 /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, will release its first quarter 2025 earnings on Thursday, May 1, 2025 and host a conference call and webcast at 7:30 a.m. ET.The webcast and presentation will be available at ir.carrier.com. To listen to the earnings call by phone, participants must pre-register at the following link: Carrier Earnings Call Registration. All registrants will receive dial ...

Core Insights - Carrier Global Corporation has been recognized as one of 'America's Climate Leaders' by USA Today for its significant efforts in reducing greenhouse gas emissions [1][2] - The recognition is based on a ranking that evaluated U.S. companies for the greatest reduction in emissions intensity from 2021 to 2023, measured by greenhouse gas emissions relative to revenue [2] Company Commitment - Carrier is focused on innovation in sustainable HVAC, cold chain, and energy management solutions, emphasizing its commitment to sustainability for future generations [2] - The company aims to enhance optimization, system integration, and grid resilience, which not only supports sustainability goals but also helps reduce energy costs for households and businesses [3] Industry Position - As the largest U.S.-headquartered company in the HVAC and refrigeration industry, Carrier plays a pivotal role in driving progress within the built environment [3]