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 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.
Carrier Global Corporation (NYSE:CARR) reported robust fourth quarter results, with sales reaching $5.1 billion, up 12% year-over-year, and organic sales rising 11%. Full-year 2021 sales increased 18% to $20.6 billion. The adjusted operating profit for Q4 rose 14% to $517 million, while net income stood at $324 million. The company anticipates solid organic growth in 2022, projecting sales around $20 billion and adjusted EPS of $2.20 to $2.30. Key strategic progress includes the divestiture of Chubb and pending acquisition of Toshiba Carrier Corporation.
Carrier Global Corporation (NYSE: CARR) has signed a binding agreement to acquire Toshiba Corporation's stake in Toshiba Carrier Corporation (TCC), a leading player in variable refrigerant flow (VRF) and light commercial HVAC solutions. This strategic acquisition aims to enhance Carrier's position in the rapidly growing HVAC market and double its sales in the VRF segment. The deal will include TCC's research & development centers, manufacturing operations, and the Toshiba brand, contributing to Carrier's sustainability goals and expanding its product portfolio. Closing is expected by Q3, subject to regulatory approvals.
Carrier Global Corporation (NYSE:CARR) will conduct an in-person investor meeting on February 22, 2022, at its headquarters in Palm Beach Gardens, Florida, starting at 8:30 a.m. ET. The meeting will feature presentations from the executive leadership team, including Chairman & CEO David Gitlin and CFO Patrick Goris, focusing on the company's strategic priorities and growth prospects. A live Q&A session is included, and a webcast of the event will be available on ir.carrier.com for those unable to attend.
Carrier is enhancing its electrification initiatives by partnering with ConMet to introduce wheel-based power generation that captures energy lost during braking. This collaboration aligns with Carrier's goal of providing zero-emission transport refrigeration solutions for trailers, trucks, and light commercial vehicles by the end of 2022. The strategic alliance supports Carrier's ESG objectives, aiming to reduce carbon emissions significantly. ConMet's technology, combined with Carrier's systems, promises to deliver a sustainable, zero-emissions solution in the commercial vehicle sector.
Carrier Global Corporation (NYSE:CARR) will announce its fourth quarter 2021 earnings on February 8, 2022, at 8:30 a.m. ET, followed by a conference call and webcast. Investors and stakeholders can listen to the call by dialing (877) 742-9091 or accessing the webcast on the carrier investor relations page. Recorded replays will be available from 12:00 p.m. ET on February 8 until February 15, 2022. Carrier continues to emphasize its commitment to innovative building and cold chain solutions, enhancing safety and sustainability.
Marioff has renewed its BluEdge Elite service agreement with Carnival Corporation for an additional five years, focusing on preventive maintenance for HI-FOG water mist fire protection systems installed on 75 cruise ships. This agreement enhances collaboration, ensuring safety for passengers and crew, while optimizing Carnival's maintenance costs. Key components include 24/7 emergency support, crew training, and delivery of original spare parts, strengthening their long-term partnership.
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