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) 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.
Carrier Global Corporation (NYSE: CARR) has launched Carrier Ventures, a global venture capital group aimed at promoting sustainable technologies in building and cold chain management. This initiative involves strategic partnerships with companies like AddVolt and OhmConnect, focusing on reducing emissions in refrigerated transport and energy management. Carrier Ventures aligns with Carrier's sustainability goals, aiming to aid its customers in reducing their carbon footprints significantly by 2030.
Carrier Global Corporation (NYSE:CARR) will have its Chairman & CEO David Gitlin and CFO Patrick Goris present at the Barclays Industrial Select Conference on February 24, 2022, at 9:10 a.m. ET. The event will be streamed live on ir.carrier.com, with a replay available after the event. Carrier Global is a leader in providing sustainable building and cold chain solutions, focusing on technology and customer-centric strategies for a safer, comfortable world.
Carrier Global Corporation (NYSE: CARR) announced a collaboration with Marriott International on Feb. 16, 2022, to innovate hotel technologies. This partnership aims to enhance in-room environments and streamline hotel construction using modular building and IoT solutions. Carrier will form a dedicated team under a multi-year agreement to focus on sustainable construction practices. Both companies emphasize improving guest experiences and operational efficiencies in the hospitality sector.
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