Financial Performance - For the year ended December 31, 2024, Carrier's net sales were $22.5 billion, with an operating profit of $2.6 billion[19]. - Total net sales for 2024 reached $22,486 million, a 18.0% increase from $18,951 million in 2023[285]. - Operating profit for 2024 was $2,646 million, compared to $2,160 million in 2023, marking a 21.5% increase[285]. - Net earnings attributable to common shareholders for 2024 were $5,604 million, significantly up from $1,349 million in 2023[285]. - Net earnings for 2024 reached $5,708 million, a significant increase from $1,440 million in 2023 and $3,584 million in 2022, reflecting strong operational performance[296]. - The total income before income taxes was $2,274 million, an increase of 13.8% from $1,999 million in 2023[415]. Sales and Revenue Composition - Net sales distribution: Americas (52%), EMEA (31%), Asia-Pacific (17%), with international operations representing approximately 50% of total net sales[19]. - New equipment accounted for 75% of net sales, while parts and service made up 25%[19]. - Product sales increased to $19,990 million in 2024, up 19.0% from $16,665 million in 2023[285]. - Service sales rose to $2,496 million, reflecting a 9.2% increase from $2,286 million in 2023[285]. - Total segment sales for 2024 reached $22,486 million, compared to $18,951 million in 2023, indicating a growth of approximately 8.1%[395]. Acquisitions and Divestitures - On January 2, 2024, Carrier completed the acquisition of the climate solutions business of Viessmann Group, enhancing its HVAC segment[26]. - Carrier sold its Access Solutions business for cash proceeds of $5.0 billion on June 2, 2024, recognizing a net gain of $1.8 billion[27]. - The sale of the Industrial Fire business generated cash proceeds of $1.4 billion on July 1, 2024, with a net gain of $319 million[28]. - Carrier completed the sale of its Commercial Refrigeration business for $679 million on October 1, 2024, recognizing a net gain of $292 million[29]. - The sale of the Commercial and Residential Fire business brought in $2.9 billion on December 2, 2024, with a net gain of $1.4 billion[30]. - The acquisition of the VCS Business was completed on January 2, 2024, for a total consideration of $14.2 billion, with 20% paid in stock and 80% in cash[347]. Employee and Operational Metrics - As of December 31, 2024, the company had approximately 48,000 employees worldwide, with 35% in the Americas, 36% in EMEA, and 29% in Asia Pacific[47]. - The total recordable incident rate (TRIR) for 2024 was 0.32, and the lost time incident rate (LTIR) was 0.15, indicating a focus on employee safety[51]. - The company promotes learning and development through various programs, including technical and leadership training, to enhance employee skills[49]. Financial Position and Assets - Total assets increased to $37,403 million in 2024, up from $32,822 million in 2023, representing a 14.3% growth[290]. - Total liabilities decreased to $23,008 million in 2024 from $23,817 million in 2023[290]. - The company’s total equity increased to $14,395 million by December 31, 2024, from $9,005 million in 2023[296]. - The Company reported a total long-term debt of $11,728 million in 2024, a decrease from $13,951 million in 2023, representing a reduction of 16.0%[346]. Research and Development - Research and development expenses increased to $686 million in 2024, up from $493 million in 2023 and $416 million in 2022, reflecting a focus on new product development and technology innovation[329]. Sustainability and Strategic Focus - Carrier's strategic focus includes investing in product and technology innovation, particularly in energy management solutions and sustainable technologies[18][34]. - The company aims to enhance its operational excellence through the Carrier Excellence framework, focusing on digitalization and supply chain productivity[40]. - The company has set ambitious sustainability goals to be achieved by 2030, including investing over $4 billion in intelligent climate and energy solutions[44]. - The company aims to avoid more than 1 gigaton of customer greenhouse gas emissions and achieve carbon neutral operations[44]. Stock and Shareholder Information - The company declared dividends of $0.795 per share in 2024, totaling $712 million, compared to $624 million in 2023[296]. - The company repurchased $1,943 million in common stock in 2024, up from $62 million in 2023[296]. - The company repurchased 70.1 million shares of common stock for an aggregate purchase price of $3.9 billion, leaving approximately $3.2 billion remaining under the current authorization as of December 31, 2024[390]. Taxation - The total income tax expense for 2024 was $1,062 million, which is a 103.9% increase compared to $521 million in 2023[417]. - The federal income tax expense in the United States increased to $920 million in 2024, up from $361 million in 2023[417]. - The total current income tax expense for 2024 was $1,414 million, which is a significant increase from $764 million in 2023[417].

Carrier Global (CARR) reported $5.15 billion in revenue for the quarter ended December 2024, representing a year-over-year increase of 0.9%. EPS of $0.54 for the same period compares to $0.53 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $5.33 billion, representing a surprise of -3.48%. The company delivered an EPS surprise of +5.88%, with the consensus EPS estimate being $0.51.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- a ...

Exhibit 99 1 • Sales of $5.1 billion, up 19% compared to 2023 including 6% organic growth • GAAP EPS from continuing operations of ($0.05); adjusted EPS from continuing operations of $0.54, up 50% • Operating margin expansion of 250 basis points and adjusted operating margin expansion of 370 basis points • Sales of $22.5 billion, up 19% compared to 2023 including 3% organic growth • GAAP EPS from continuing operations of $1.22; adjusted EPS from continuing operations of $2.56 up 16% • Operating margin expan ...

Core Insights - Carrier Global Corporation reported strong financial results for Q4 and full year 2024, highlighting a transformational year with significant growth and strategic acquisitions [2][3][7] Q4 2024 Highlights - Q4 sales reached $5.1 billion, a 19% increase year-over-year, driven by 6% organic growth and a 13% contribution from acquisitions and divestitures [3][4] - The HVAC segment saw an 11% organic sales increase, with high-teens growth in the Americas, while refrigeration sales declined by 6% organically [4][5] - Adjusted operating profit for Q4 was $678 million, a 65% increase, attributed to the integration of Viessmann Climate Solutions and organic growth [5][6] Full Year 2024 Highlights - Total sales for 2024 were $22.5 billion, up 19% from the previous year, with 3% organic growth and a 16% impact from acquisitions and divestitures [7][8] - GAAP operating profit increased by 23% to $2.6 billion, while adjusted operating profit rose 34% to $3.5 billion [7][8] - The company returned approximately $2.6 billion to shareholders, including $0.7 billion in dividends and $1.9 billion in share repurchases [11] 2025 Guidance - Carrier projects accelerated organic growth in 2025, supported by ongoing innovation and a commitment to double-digit aftermarket growth [9][12] - Expected sales for 2025 are projected between $22.5 billion and $23.0 billion, with adjusted EPS anticipated to be between $2.95 and $3.05, reflecting a mid to high-teens growth [12][13]

Carrier Global (CARR) is scheduled to report its fourth-quarter 2024 results on Feb. 11.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The Zacks Consensus Estimate for fourth-quarter earnings is pegged at 51 cents per share, which has increased by a penny over the past 30 days, suggesting a year-over-year decline of 3.77%The Zacks Consensus Estimate for revenues is pegged at $5.43 billion, indicating 6.42% year-over-year growth.Carrier Global’s earnings surpassed the Zacks Consensu ...

Core Insights - Carrier Global Corporation has launched Carrier QuantumLeap™, a suite of solutions aimed at the growing data center industry, with the global data center cooling market expected to reach $20 billion by 2029 [1][4] - The QuantumLeap solution integrates advanced cooling technologies, including AI-driven systems, to enhance efficiency and reliability in data center operations [2][3] Group 1: Product Offerings - Carrier QuantumLeap provides an end-to-end thermal management system, ensuring real-time optimization and adaptability across data center operations [3] - The company offers next-generation chiller solutions that are 30% more efficient than previous models, featuring integrated free cooling and optimized energy use [5] - Carrier's Cooling Distribution Unit (CDU) facilitates integration into direct-to-chip liquid cooling systems for high-density environments [5] Group 2: Strategic Investments - Carrier Ventures invested in Strategic Thermal Labs (STL), a leader in liquid cooling technologies, to enhance its capabilities in data center cooling [4] - The company is expanding its manufacturing capacity in North America, aiming to double its commercial HVAC manufacturing capacity by the end of the year [6] Group 3: Technology and Services - Carrier's advanced building management system and digital platform provide operators with enhanced control and transparency in managing data center environments [5] - The Nlyte® data center management solutions are currently deployed in over 300 data centers, managing more than one million racks and 10 million data points [5] - Carrier's digital platform, Abound™, offers real-time insights and predictive maintenance capabilities to improve operational reliability and minimize downtime [5]

Analysts on Wall Street project that Carrier Global (CARR) will announce quarterly earnings of $0.51 per share in its forthcoming report, representing a decline of 3.8% year over year. Revenues are projected to reach $5.43 billion, increasing 6.4% from the same quarter last year.The consensus EPS estimate for the quarter has undergone a downward revision of 3.9% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimat ...

Wall Street expects a year-over-year decline in earnings on higher revenues when Carrier Global (CARR) reports results for the quarter ended December 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on February 11, 2025, might help the stock move higher if these key numbers are better th ...

Company Recognition - Carrier Global Corporation has been named to Fortune's 2025 list of the World's Most Admired Companies for the fourth consecutive year [1] - The recognition is based on surveys of executives, directors, and analysts evaluating companies on nine criteria, including investment value, quality of management and products, social responsibility, and ability to attract talent [1] Leadership and Workforce - Carrier's Chairman & CEO David Gitlin attributes the recognition to the passion and innovation of the company's 50,000 employees [2] - The company emphasizes its commitment to delivering for customers, creating value for shareowners, and building a workplace that champions employee growth and contributions [2] Company Overview - Carrier Global Corporation is a global leader in intelligent climate and energy solutions [3] - The company is committed to creating solutions that matter for people and the planet, with a focus on inventing new technologies and industries [3] - Carrier's world-class, diverse workforce places the customer at the center of everything they do [3]

PALM BEACH GARDENS, Fla., Jan. 21, 2025 /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, will release its fourth quarter 2024 earnings on Tuesday, February 11, 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 Carrier Earnings Call Registration. All registrants will receive dial-in information ...