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) is set to release its first quarter 2022 earnings on April 28, 2022, at 8:30 a.m. ET. A conference call and webcast will follow the announcement, allowing stakeholders to gain insights into the company's financial performance. Interested parties can access the presentation and replay the call via the Investor Relations website. The company emphasizes its commitment to being a leading global provider of safe and sustainable solutions, aiming to enhance customer experience and operational efficiency.
Carrier Global Corporation (NYSE: CARR) has announced the Reference Yields for its cash tender offers, aimed at repurchasing up to $1.15 billion in outstanding senior notes. The offer includes a specific cap of $800 million for 2.242% Senior Notes due 2025, with the settlement anticipated on March 30, 2022. The tender offers are set to expire at 11:59 p.m. on April 11, 2022. The Total Consideration for the securities will be calculated based on a Fixed Spread plus the Reference Yield for each series. The company reserves the right to modify these terms as needed.
Carrier Global Corporation (NYSE: CARR) announced early results for its cash tender offers on March 29, 2022, with a total purchase limit of $1.15 billion across its outstanding senior notes. The Company has designated a maximum of $800 million for its 2.242% Senior Notes due 2025. As of March 28, 2022, approximately $929.5 million of these notes were tendered, accounting for 46.48% of the outstanding amount. The offers will expire on April 11, 2022, and are subject to various caps and conditions outlined in the Offer to Purchase.
Carrier Global Corporation (NYSE: CARR) has initiated tender offers to purchase cash for certain debt securities, totaling up to $1,150,000,000. The offer includes 2.242% Senior Notes due 2025 and 2.493% Senior Notes due 2027, with a sub-limit of $800,000,000 for the 2025 notes. The expiration date for the tender offers is set for April 11, 2022, with early tender consideration for submissions made by March 28, 2022. Investors are urged to review the complete terms outlined in the Offer to Purchase.
Carrier Global Corporation (NYSE:CARR) announced that Chairman & CEO David Gitlin will speak at the J.P. Morgan Industrials Conference on March 17, 2022, at 10:30 a.m. ET. The event will be broadcast live on ir.carrier.com, with a replay available afterward. Carrier is a leading provider of healthy, safe, sustainable, and intelligent building and cold chain solutions. They are committed to innovation and customer-centric approaches for a sustainable future. For more details, visit www.Corporate.Carrier.com.
Carrier Global Corporation (NYSE:CARR) will have Senior VP & CFO Patrick Goris speak at the Bank of America Global Industrials Conference on March 15, 2022, at 9:05 a.m. ET. The presentation will be broadcast live on ir.carrier.com, with a replay available afterward. Carrier, a leader in sustainable building solutions, is dedicated to improving safety and comfort through innovative technologies. For further details, visit www.Corporate.Carrier.com.
Carrier Global Corporation (NYSE:CARR) announced its commitment to enhancing indoor air quality (IAQ) as schools, offices, and sports venues transition back to normal operations. The company emphasizes the vital role of ventilation systems in ensuring health and safety, supported by the White House's National COVID-19 Preparedness Plan. Carrier aims to provide innovative solutions for safe environments, boosting cognitive function and productivity. The COGfx Study highlights the correlation between healthy air quality and improved mental performance, further showcasing Carrier's focus on Healthy Buildings.
Carrier Global Corporation (NYSE: CARR) hosted its 2022 Investor Day in Palm Beach Gardens, Florida, on February 22, 2022. The event featured insights from CEO Dave Gitlin and CFO Patrick Goris on the company’s growth strategy, focusing on trends in health, wellness, sustainability, and digitalization. Carrier aims to transition from an equipment provider to a solutions provider. The medium-term framework includes goals of 6-8% organic sales growth, annual gross cost productivity of 2-3%, and doubling adjusted EPS growth. Detailed materials can be found on their investor relations website.
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