Welcome to our dedicated page for Carrier Global Corporation news (Ticker: CARR), a resource for investors and traders seeking the latest updates and insights on Carrier Global Corporation stock.
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 Corporation (NYSE: CARR) will have its Chairman & CEO, David Gitlin, speak at the J.P. Morgan Industrials Conference on March 15, 2023, at 3:50 p.m. ET. The event will be broadcast live on ir.carrier.com, with a replay available post-event. Carrier, recognized as a leading global provider of innovative building and cold chain solutions, focuses on sustainability and customer-centric services. For more information, visit www.Corporate.Carrier.com.
Carrier Global Corporation (NYSE: CARR) has made a significant investment in Ember LifeSciences to enhance innovations in temperature-controlled logistics. Ember LifeSciences, formed as a healthcare-focused spinoff in 2022, has developed the Ember Cube, a pioneering self-refrigerated, cloud-based shipping box that ensures the safe transport of temperature-sensitive pharmaceuticals. This investment aligns with Carrier's strategy to combat the $35 billion losses due to logistics failures in the biopharma sector and support its goal of reducing carbon footprints by over 1 gigaton by 2030.
Carrier Global Corporation (NYSE: CARR) will have its Chairman & CEO, David Gitlin, present at the Barclays Industrial Select Conference on February 23, 2023, at 10:20 a.m. ET. The event will be available for live streaming on ir.carrier.com, with a replay accessible afterward. Carrier is recognized as a leader in providing **healthy, safe, sustainable**, and **intelligent building** solutions. The company focuses on innovative technologies and is dedicated to enhancing safety and sustainability for future generations.
Carrier Global Corporation (NYSE: CARR) reported its fourth quarter and full year 2022 financial results, showcasing sales of $5.1 billion for Q4 and $20.4 billion for the full year, both down 1% year-over-year. However, the company achieved 5% organic growth in Q4 and 8% for the entire year. GAAP EPS for Q4 was $0.32, with adjusted EPS at $0.40. For 2023, Carrier anticipates sales of approximately $22 billion and adjusted EPS between $2.50 and $2.60. The outlook reflects continued organic growth and strategic progress, including the divestiture of Chubb and acquisition of Toshiba Carrier Corporation.
Carrier Global Corporation (NYSE: CARR) announced an ambitious plan to enhance its sustainability targets, committing to achieving net-zero greenhouse gas (GHG) emissions by 2050, supported by its existing goal to help customers avoid over 1 gigaton of GHG emissions by 2030. The initiative aligns with the Science Based Targets initiative (SBTi) and encompasses comprehensive strategies to manage scope 1, 2, and 3 emissions. Key investments include a 3MW solar array in Shanghai, participation in the Climate Asset Management fund, and the introduction of the Abound™ Net Zero Management solution for real-time ESG performance tracking. Carrier plans to invest over $2 billion towards sustainable building solutions by 2030.
Carrier Global Corporation (NYSE: CARR) will release its fourth quarter 2022 earnings on February 7, 2023. The earnings conference call is set for 8 a.m. ET, allowing investors to gain insights into the company’s financial performance. Participants can pre-register for the call and access a live webcast through the company’s investor relations site. As a leading global provider in building and cold chain solutions, Carrier is focused on sustainability and intelligent technologies. For further details, visit the company’s official website.
Carrier Global Corporation (NYSE: CARR) has announced a multi-year strategic collaboration with Amazon Web Services (AWS) to enhance its Software-as-a-Service (SaaS) offerings available in the AWS Marketplace. The partnership aims to deliver solutions focused on HVAC performance, sustainability, and safety. This collaboration builds on Carrier's existing initiatives, including its Abound and Lynx digital platforms, which provide insights into indoor air quality and cold chain operations. The move is part of Carrier's ongoing investment in digital solutions to improve customers' operational efficiencies.
Carrier Global Corporation (NYSE: CARR) announced a quarterly dividend increase of 23%, raising it to $0.185 per share. The dividend will be paid on February 10, 2023, to shareholders of record by December 22, 2022. Carrier emphasizes its commitment to shareholder value and ongoing investments in growth and acquisitions. CEO Dave Gitlin expressed confidence in the company's strategy and long-term prospects.
Carrier Global Corporation (NYSE: CARR) announced a schedule change for its presentation at the Stephens Annual Investment Conference. Chairman & CEO David Gitlin and CFO Patrick Goris will now present at 3 p.m. ET on November 15, 2022, instead of the originally planned 11 a.m. ET. The event will be accessible via live broadcast at ir.carrier.com, with a replay available afterward. Carrier continues to position itself as a leader in innovative building and cold chain solutions, emphasizing its commitment to sustainability and customer-centric approaches.
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