| --- | --- | --- | --- | |--------------------------------------------------|-------|-----------------|---------------------| | (In millions) | | June 30, \n2024 | December 31, \n2023 | | Assets | | | | | Cash and cash equivalents | $ | 2,919 $ | 10,015 | | Accounts receivable, net | | 3,187 | 2,481 | | Contract assets | | 333 | 306 | | Inventories, net | | 3,045 | 2,217 | | Assets held for sale | | 1,601 | 3,314 | | Other current assets | | 488 | 447 | | Total current assets | | 11,573 | 18,780 | | Future ...

Ahead of this earnings release, the estimate revisions trend for Carrier Global: 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. The sustainability of the stock's immediate price movement base ...

Carrier Reports Strong Second Quarter 2024 Results PALM BEACH GARDENS, Fla., July 25, 2024 – Carrier Global Corporation (NYSE:CARR), global leader in intelligent climate and energy solutions, today reported strong financial results for the second quarter of 2024 and reaffirmed its full year earnings guidance. Exhibit 99 "Carrier delivered another quarter of strong financial performance, while making great progress with our portfolio transformation," said Carrier Chairman & CEO David Gitlin. "We delivered so ...

PALM BEACH GARDENS, Fla., July 9, 2024 /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, will release its second quarter 2024 earnings on Thursday, July 25, 2024 and host a conference call and webcast at 7:30 a.m. ET. About Carrier CARR-IR Contact: 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 ...

Core Viewpoint - Carrier Global Corporation has completed the sale of its Industrial Fire business to Sentinel Capital Partners for an enterprise value of $1.425 billion, with net proceeds expected to be used to pay down debt and return to approximately 2x net leverage by the end of 2024 [1][2]. Group 1: Business Transactions - The sale of the Industrial Fire business is part of Carrier's portfolio transformation process, marking the second completed sale [2]. - The company expects to close the sale of its Commercial Refrigeration segment by the end of Q3 2024, with the sale process for Commercial and Residential Fire progressing as planned [1][2]. Group 2: Financial Strategy - Carrier intends to utilize the net proceeds from the Industrial Fire sale to reduce its debt levels, aiming for a net leverage ratio of around 2x by the end of 2024 [2]. - The company also plans to resume share repurchases in 2024 [2]. Group 3: Advisory and Legal Support - Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are serving as financial advisors to Carrier for the transaction [3]. - External legal counsel is being provided by Paul, Weiss, Rifkind, Wharton & Garrison LLP and Linklaters LLP [3].

Company Overview - Spectrum is a leading manufacturer of industrial fire detection and suppression products, serving critical infrastructure, marine, clean energy, and other industrial markets in over 20 countries [2][4] - The company operates under four recognized brands: Det-Tronics, Marioff, Autronica, and Fireye, and has approximately 1,400 employees globally with manufacturing facilities in the US, Norway, and Finland [2][4] Acquisition Details - Sentinel Capital Partners acquired the industrial fire business from Carrier Global Corporation for an enterprise value of $1.425 billion, creating a new standalone platform named Spectrum Safety Solutions [8] - This acquisition marks Sentinel's eighth corporate carveout, showcasing its experience in the industrial sector [9] Strategic Focus - The partnership with Sentinel is expected to sharpen Spectrum's business focus, dedicate additional resources to its leading brands, and accelerate growth [3][6] - Spectrum's management team is recognized for its talent and is anticipated to leverage growth opportunities under Sentinel's support [6]

These three stocks benefit from megatrends that will drive earnings growth for many years. 1. Carrier Global positions itself for growth Both analysts like the company's decision to focus on its core HVAC competency by selling off non-core fire, security, and commercial refrigeration businesses while acquiring European heat pump and HVAC company Viessmann Climate Solutions for $13.2 billion. At the same time, the growth of adoption of smart building technology, offered by Carrier and others, is producing ta ...

The move enhances Carrier's capabilities in supply chain visibility, particularly in the pharmaceutical and life sciences sectors. Strong Portfolio Aids Prospect In first-quarter 2024, Carrier registered a reported sales increase of 17% year over year to $6.2 billion. The upside was driven by organic sales growth of 2% and a significant contribution from acquisitions, notably Viessmann Climate Solutions, which added 15% to net sales growth. Apart from strategic acquisitions and expanding portfolio, Carrier ...

"The acquisition of Berlinger's monitoring business is an exciting opportunity for Sensitech to expand our portfolio of monitoring solutions for pharma supply chains and accelerate growth in strategically important adjacencies," said Bhasker Kaushal, Vice President & General Manager, Sensitech and Refrigeration Aftermarket. "Digitization, sustainability, and automation are transforming pharma supply chains and driving adoption of real-time monitoring and cloud-based solutions. Sensitech and Berlinger share ...

PALM BEACH GARDENS, Fla., June 13, 2024 /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, today announced its ambitious greenhouse gas emission reduction goals, including a target to reach net-zero greenhouse gas emissions by 2050, have been validated by the Science Based Targets initiative (SBTi). A corporate climate action organization, SBTi enables companies and financial institutions worldwide to play their part in combating the climate c ...