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Carrier Global Corporation (NYSE: CARR) is a leading provider in the heating, ventilation, and air conditioning (HVAC), refrigeration, and fire & security sectors. The company serves both residential and commercial markets, with the HVAC segment contributing significantly to its revenue—60% from commercial and 40% from residential markets. Carrier's refrigeration segment includes transportation refrigeration, Sensitech supply chain monitoring, and commercial refrigeration businesses. The fire and security division manufactures a range of products, including fire detection and suppression systems, access control, and intrusion detection solutions.
Recently, Carrier has been actively transforming its portfolio. In April 2023, the firm announced plans to divest its fire and security and commercial refrigeration businesses. This strategic move was complemented by the acquisition of Germany-based Viessmann Climate Solutions for approximately $13 billion, aiming to bolster its climate and energy solutions offerings.
In a recent announcement on March 5, 2024, Carrier entered into a definitive agreement to sell its Industrial Fire business to Sentinel Capital Partners for $1.425 billion. This sale includes prominent brands like Det-Tronics, Marioff, Autronica, and Fireye. The transaction, expected to close in the third quarter of 2024, will allow Carrier to focus on its vision of becoming a global leader in intelligent climate and energy solutions. The firm plans to use the proceeds from this sale to pay down debt and resume share repurchases.
Carrier continues to innovate, recently leading an investment in Strategic Thermal Labs for a revolutionary liquid cooling solution for data centers. This initiative aligns with the company's goal to enhance energy efficiency and support high-density computing needs. Additionally, Carrier's financial performance remains strong, as evidenced by its robust first-quarter 2024 results showing a 17% increase in sales, bolstered by the Viessmann acquisition and organic growth.
Further solidifying its transformation, Carrier successfully sold its Global Access Solutions business to Honeywell for $4.95 billion, marking a significant milestone in its portfolio realignment efforts. This transaction is part of Carrier's broader strategy to focus on high-growth, high-margin segments within the intelligent climate and energy solutions market.
Carrier Global (NYSE: CARR) has announced its upcoming 2025 Investor Day, scheduled for May 19, 2025, in New York City. The event will commence at 8:30 a.m. ET and will feature Chairman & CEO David Gitlin along with the leadership team presenting the company's strategic priorities.
The event will be accessible through a live webcast at ir.carrier.com, where supporting materials will also be made available. A replay of the webcast will be accessible on the website after the event concludes.
Carrier, recognized as a global leader in intelligent climate and energy solutions, maintains its commitment to developing solutions that benefit both people and the planet for future generations. The company's legacy includes pioneering new technologies and industries, driven by its world-class, diverse workforce focused on customer-centric solutions.
Carrier Global (NYSE: CARR) announced that its venture group, Carrier Ventures, is leading an investment and technology partnership with ZutaCore, a provider of direct-to-chip liquid cooling technology for data centers. The investment aligns with Carrier's strategy to provide integrated cooling solutions for data centers, with the global cooling market projected to reach $20 billion by 2029 and liquid cooling expected to grow at a 39% CAGR.
ZutaCore's HyperCool® technology offers waterless, direct liquid cooling solutions enabling high performance and reduced power usage for AI and machine learning workloads. This partnership complements Carrier's recent launch of QuantumLeap™, a suite of energy-efficient solutions for data center thermal management.
Carrier Global (NYSE: CARR), a leader in intelligent climate and energy solutions, has announced that Chairman & CEO David Gitlin will present at Citi's 2025 Global Industrial Tech and Mobility Conference. The presentation is scheduled for Thursday, February 20, 2025, at 1:50 p.m. ET.
The event will be accessible through a live broadcast on ir.carrier.com, with a replay available afterward on the same platform. Carrier, known for pioneering new technologies and industries, maintains its leadership position through its diverse workforce and customer-centric approach, focusing on creating solutions that benefit both people and the planet for future generations.
Carrier Global (NYSE: CARR) has announced that Chairman & CEO David Gitlin will present at the Barclays Industrial Select Conference on Thursday, February 20, 2025, at 9:15 a.m. ET. The presentation will be available through a live broadcast on ir.carrier.com, with a replay option available afterward.
As a global leader in intelligent climate and energy solutions, Carrier is dedicated to developing impactful solutions for people and the planet. The company has a history of pioneering new technologies and industries, maintaining its leadership through a diverse workforce focused on customer-centric solutions.
Carrier Global (NYSE:CARR) reported strong financial results for Q4 and full year 2024. Q4 sales reached $5.1 billion, up 19% year-over-year with 6% organic growth. Full-year 2024 sales were $22.5 billion, a 19% increase including 3% organic growth.
The company achieved significant margin expansion, with Q4 operating margin up 250 basis points and adjusted operating margin up 370 basis points. For 2024, GAAP EPS from continuing operations was $1.22, while adjusted EPS was $2.56, up 16%. Carrier returned approximately $2.6 billion to shareholders through dividends ($0.7B) and share repurchases ($1.9B).
Looking ahead to 2025, Carrier projects mid-single digit organic growth with sales of $22.5-23.0 billion, adjusted operating margin of 16.5-17.0%, and adjusted EPS of $2.95-3.05. The company expects to repurchase approximately $3 billion in shares and generate free cash flow of $2.4-2.6 billion.
Carrier Global (NYSE: CARR) has launched QuantumLeap™, a comprehensive suite of cooling solutions for data centers, targeting a market projected to reach $20 billion by 2029. The system integrates advanced cooling, controls, and service solutions to deliver efficient thermal management.
The QuantumLeap suite includes next-generation chillers with 30% higher efficiency than previous generations, liquid cooling solutions featuring Cooling Distribution Units (CDU), and the Nlyte® data center management system currently deployed in over 300 data centers managing more than one million racks. The solution is supported by Carrier's Abound™ digital platform for real-time insights and predictive maintenance.
To accelerate growth in the data center market, Carrier has invested in Strategic Thermal Labs (STL), a liquid cooling technologies leader, and plans to double its commercial HVAC manufacturing capacity in North America by year-end.
Carrier Global (NYSE: CARR) has been named to Fortune's 2025 World's Most Admired Companies list for the fourth consecutive year. The recognition is based on surveys conducted by Fortune and Korn Ferry, where executives, directors, and analysts evaluate companies across nine criteria, including investment value, management and product quality, social responsibility, and talent attraction.
The company, which employs 50,000 people globally, is recognized for its leadership in intelligent climate and energy solutions. Chairman & CEO David Gitlin highlighted that this achievement reflects the company's dedication to customer service, shareholder value creation, and fostering an environment that promotes employee growth and contributions.
Carrier's legacy includes pioneering new technologies and industries, maintaining its leadership position through a diverse workforce focused on customer-centric solutions for people and the planet.
Carrier Global (NYSE: CARR), a global leader in intelligent climate and energy solutions, has announced it will release its fourth quarter 2024 earnings on Tuesday, February 11, 2025. The company will host a conference call and webcast at 7:30 a.m. ET on the same day.
The earnings presentation and webcast will be accessible through ir.carrier.com. Interested participants must pre-register at Carrier Earnings Call Registration to join the call by phone. All registrants will receive dial-in information and a PIN for access. A recording of the call will be archived and available for replay on the company's website.
Carrier Global (NYSE: CARR) has appointed Amy Miles to its Board of Directors, effective immediately. Miles, former Chair and CEO of Regal Entertainment Group, will serve on Carrier's Audit and Governance Committees. Miles brings extensive experience in business, innovation, and operational leadership, with a track record of increasing shareholder value through customer-centric approaches and technology investments.
Miles served as Chair and CEO of Regal Entertainment Group from 2015 to 2018, and as CEO from 2009 to 2018. Previously, she was Executive Vice President, CFO, and Treasurer from 2000 to 2009. She currently serves on the boards of The Gap, where she chairs the audit and finance committee, and Amgen, where she is a member of the audit and governance committees.
Carrier Global (NYSE: CARR) has launched the Carrier TechVantage Initiative, a comprehensive workforce development program aimed at strengthening its U.S. technical workforce. The initiative includes plans to hire 1,000 service technicians and provide training to over 100,000 Carrier and partner HVAC technicians within five years.
The company has invested significantly in training facilities, including a $4 million training center in Charlotte and a $2 million facility in Indianapolis. In 2024, Carrier delivered nearly 132,000 training hours across its Commercial and Residential HVAC businesses, training approximately 20,000 service technicians. The initiative responds to growing demand in the commercial HVAC sector, particularly from data centers, industrial facilities, and infrastructure projects.
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