PALM BEACH GARDENS, Fla., Jan. 13, 2025 /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, today announced the launch of its Carrier TechVantage Initiative. This transformational initiative involves hiring 1,000 service technicians in the United States and providing additional training to over 100,000 Carrier and Carrier partner HVAC technicians within five years. By addressing the growing demand for technical expertise in the commercial HVAC ...

Company Commitment - Carrier Global Corporation announced a donation of over $2 5 million in indoor air purifiers to support communities affected by wildfires in Los Angeles and surrounding areas [1] - The donation aims to improve indoor air quality for essential service workers including the Los Angeles Fire Department local schools and hospitals [1] Impact of Wildfires on Air Quality - Wildfire smoke can significantly degrade indoor air quality by seeping into homes and buildings [3] - Fine particles in smoke can irritate the respiratory system aggravate pre-existing health conditions and pose heightened risks for sensitive groups such as children seniors and individuals with respiratory or cardiac conditions [3] Tips for Maintaining Indoor Air Quality - Re-circulate indoor air to limit hazardous contaminants and reduce fresh air intake through ventilation [7] - Maximize HVAC filtration by using high-efficiency filters and switching to fan-on mode to increase air recirculation [7] - Enhance filtration by installing MERV 13 or higher systems and using room air purifiers with HEPA filtration and activated carbon [7] - Maintain air filters by cleaning or replacing them as recommended to ensure system efficiency and reliability [7] - Limit smoke intrusion by weatherizing doors and windows sealing cracks and keeping them closed during wildfire season [7] About Carrier Global Corporation - Carrier Global Corporation is a global leader in intelligent climate and energy solutions committed to creating impactful solutions for people and the planet [6] - The company has a history of inventing new technologies and industries and continues to lead with a diverse workforce focused on customer-centric solutions [6]

PALM BEACH GARDENS, Fla., Dec. 12, 2024 /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, was recently named to Forbes' inaugural Most Trusted Companies in America 2025 list. This recognition highlights Carrier's commitment to fostering trust among its stakeholders and reflects the company's dedication to integrity and excellence.  "We are honored to be included in Forbes' first-ever Most Trusted Companies in America list, which underlines ou ...

PALM BEACH GARDENS, Fla., Dec. 2, 2024 /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, today announced it has completed the sale of its Commercial and Residential Fire business to an affiliate of Lone Star Funds for an enterprise value of $3 billion."The sale of our Commercial and Residential Fire business is the final step in our strategic portfolio transformation, further simplifying and focusing our company, and strengthening our global ...

Carrier Global Corporation Conference Call Summary Company Overview - **Company**: Carrier Global Corporation (NYSE:CARR) - **Industry**: HVAC (Heating, Ventilation, and Air Conditioning) and Transportation Refrigeration - **Participants**: David Gitlin (Chairman & CEO), Patrick Goris (CFO), Mike Rednor (IR) Key Points Portfolio Transformation - Carrier has completed its portfolio transformation, focusing on becoming a pure-play global climate and energy solutions leader [4][10] - Exiting the Commercial Refrigeration business is expected to generate approximately $22 billion in annual sales for the current year [5][6] Business Segmentation - Carrier's business is divided into five segments: - $6 billion in global commercial HVAC - $7 billion in residential and light commercial in North America - $4 billion in residential and light commercial in Europe - $2 billion in residential and light commercial in Asia - $3 billion in transport refrigeration [6] Growth and Market Position - Commercial HVAC orders are up 16% year-to-date, with a backlog increase of 30% over two years, driven by data centers and other key verticals [6] - The company anticipates double-digit growth in its aftermarket business, which constitutes 25% of total sales [9] Regional Insights - North America is expected to benefit from the transition to refrigerant 454B, while Europe has favorable comparisons due to improving fundamentals [7][8] - Asia presents mixed results, with Southeast Asia showing progress and China being a concern [8] Operational Excellence - Carrier aims for at least 50 basis points of annual margin expansion, with a target of 150 basis points for the current year [9] - The company has proactively addressed stranded costs, eliminating over $200 million in run-rate costs this year [15] Future Focus - The focus for 2025 includes executing on the Viessmann acquisition, driving productivity, and enhancing customer focus and innovation [12][14] - Carrier is targeting double-digit revenue growth for Viessmann even in a flat market environment [30] Regulatory Environment - The regulatory landscape in Europe is evolving, but Carrier remains committed to achieving its business case despite potential changes [33] Decarbonization Trends - The company sees a strong demand for HVAC systems as businesses aim to meet decarbonization targets, with a typical payback period of 2-3 years for system upgrades [54] Capital Allocation Strategy - Carrier plans to return to a net debt level of 2x as quickly as possible, with a focus on share repurchases and funding organic growth [48][49] Market Growth Projections - The company targets a long-term growth rate of 6% to 8%, driven by GDP growth, geographic expansion, and sustainability initiatives [50][51] Customer Engagement - Carrier is exploring performance contracting and energy management solutions to create recurring revenue streams and enhance customer relationships [55][58] Additional Insights - The company has improved its product portfolio and invested in R&D, positioning itself well in the data center market [41][42] - Carrier is doubling its chiller capacity in North America to meet growing demand [43] This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting Carrier's focus on growth, operational efficiency, and market adaptation.

GE Aerospace's Chairman and CEO, H. Lawrence Culp, Jr., Presented Carrier with Prestigious Award PALM BEACH GARDENS, Fla., Nov. 14, 2024 /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, was awarded the World Environment Center's (WEC) 40th Annual Gold Medal for International Corporate Achievement in Sustainable Development. Past award winners of the global competition include Microsoft, Walmart, IBM and Starbucks. "Carrier is honored to be r ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 ____________________________________ FORM 10-Q ____________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-39220 ____________________________________ CARRIER GLOBAL CORPORATION (Exact n ...

Carrier Global (CARR) reported $5.98 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 4.4%. EPS of $0.77 for the same period compares to $0.89 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $6.61 billion, representing a surprise of -9.50%. The company delivered an EPS surprise of -4.94%, with the consensus EPS estimate being $0.81.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- ...

Financial Data and Key Metrics Changes - Reported sales of $6 billion were up 21% year-over-year, with organic sales growth of 4% [18] - Adjusted operating profit increased by 19% to over $1 billion, driven by organic growth and productivity [18] - Adjusted EPS from continuing operations was $0.77, up 3% year-over-year [19] - Preliminary free cash flow was an outflow of about $370 million, with underlying performance of approximately $700 million [20] Business Line Data and Key Metrics Changes - HVAC reported sales growth of 26%, reflecting organic sales growth of 6% and contributions from Viessmann Climate Solutions [21] - Refrigeration segment saw reported and organic sales up 1%, with transport refrigeration up 3% [22] - Commercial refrigeration sales were about $750 million for the year-to-date, with immaterial adjusted operating profit contribution [23] Market Data and Key Metrics Changes - Organic orders were up close to 20%, with North America residential HVAC orders up 30% year-over-year [22] - Orders for data centers increased more than 3x year-to-date, indicating strong demand in that vertical [8] - In Europe, heat pump subsidy applications were up about 50% sequentially and doubled compared to last year [15] Company Strategy and Development Direction - The company aims to be the global leader in intelligent climate and energy solutions, focusing on differentiation and customer solutions [7] - Continued emphasis on aftermarket growth, with expectations for double-digit growth for the fourth consecutive year [6] - The company is on track to eliminate $200 million of run-rate costs throughout 2024, contributing to improved profitability [27] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about 2025, highlighting strong backlog and expected double-digit adjusted EPS growth from organic revenue growth [42] - The company is confident in its ability to manage peak hour demand and introduce new energy management solutions [10] - Management noted that the transformation process is largely behind them, allowing a focus on customer growth and innovation [30] Other Important Information - The company closed the sale of its commercial refrigeration business on October 1 and is on track to finalize the divestiture of the fire and security segment by year-end [7] - Settlements related to AFFF liabilities are expected to resolve most current and future claims, with cash settlement payments amounting to $615 million [29][30] Q&A Session Summary Question: Can you share your view on the bottoming process for Viessmann and revenue expectations into 2025? - Management indicated that recent order trends have shown improvement, suggesting a potential turning point, especially with subsidies starting to be paid [33] Question: What are the expectations regarding the pre-buy of 410A? - Management confirmed they have the capacity to meet demand and are building inventory to support underlying demand for the first quarter of next year [34] Question: Can you clarify the differences in adjusted EPS guidance? - Management explained the $0.10 delta between the core and continuing operations guidance is due to the allocation of headquarter charges and interest expense treatment [38] Question: What are the expectations for the light commercial business next year? - Management noted that while it is early to predict, they aim to end the year with balanced inventory and expect continued strength from ESSER funding [62] Question: How do you view the aftermarket strategy moving forward? - Management described the new aftermarket strategy as more sophisticated, focusing on inventory management and value-added services, with expectations for higher margins [78]

Carrier Global (CARR) came out with quarterly earnings of $0.77 per share, missing the Zacks Consensus Estimate of $0.81 per share. This compares to earnings of $0.89 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -4.94%. A quarter ago, it was expected that this company would post earnings of $0.85 per share when it actually produced earnings of $0.87, delivering a surprise of 2.35%.Over the last four quarters, the company ha ...