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.
APi Group Corporation (NYSE: APG) has successfully completed the acquisition of Chubb's fire and security business from Carrier Global Corporation (NYSE: CARR) for an enterprise value of $3.1 billion. This strategic move aims to enhance APi's position as a global leader in life safety services, with a focus on recurring revenue. Chubb, employing approximately 13,000 globally, operates in 17 countries, serving over 1.5 million customer sites. The acquisition is expected to drive revenue growth through cross-selling opportunities and synergies.
Carrier Global Corporation (NYSE: CARR) announced that director John V. Faraci will not seek re-election at the Annual Meeting on April 14, 2022. Faraci, who joined the board post the company's separation from United Technologies in April 2020, has been pivotal in transitioning Carrier to an independent public company. CEO Dave Gitlin praised Faraci's leadership and mentorship during his tenure. Faraci expressed confidence in Carrier's future growth under the current board and management.
Carrier Global Corporation (NYSE: CARR) announced that its Center for Intelligent Buildings in Palm Beach Gardens, Florida, has earned the WELL Platinum Certification, becoming the first commercial building in Florida to achieve this accolade. The facility, which is 224,000 square feet, also holds LEED Platinum certification, making it one of only six buildings in the U.S. with both designations. This underscores Carrier's commitment to health, sustainability, and innovative building solutions, demonstrating enhanced indoor air quality and employee well-being through advanced digital technologies.
Carrier Global Corporation (NYSE:CARR) has announced a quarterly dividend increase of $0.15 per share, marking a 25% rise from the previous dividend. This dividend will be paid on February 10, 2022, to shareholders recorded by December 23, 2021. Chairman & CEO Dave Gitlin highlighted the company's strong cash flow and improved balance sheet, indicating confidence in its financial strength and future outlook. The increase reflects a commitment to a balanced capital allocation strategy.
Carrier has achieved zero waste to landfill certification for its Indianapolis manufacturing site, a significant milestone as part of its 2030 Environmental, Social and Governance (ESG) goals. This facility is the first of Carrier Global Corporation (NYSE: CARR) to reach this designation, ensuring that waste is converted to energy and other uses. The company aims for all 50+ global manufacturing sites to achieve this status, contributing to sustainability initiatives such as carbon neutrality and a 10% reduction in energy intensity. The site partnered with Heritage Interactive Services to facilitate this achievement.
Carrier Global Corporation (NYSE: CARR) has joined the Amazon Web Services (AWS) Partner Network (APN) as part of its digital transformation strategy. This partnership enables Carrier to expand its reach and customer engagement through AWS's support. Carrier will leverage its partnership to offer innovative digital solutions like the smart building platform Abound and the Lynx cold chain operations platform. Both platforms aim to enhance transparency, connectivity, and data insights for customers in various sectors.
Carrier Global Corporation (NYSE:CARR) announced that its Senior VP and CFO, Patrick Goris, will speak at the Stephens Investment Conference on December 2, 2021, at 1:00 p.m. ET. The event will be broadcast live on ir.carrier.com, and a replay will be available afterward. Carrier is a leading provider of healthy, safe, sustainable, and intelligent building solutions, committed to innovation and customer service for a sustainable future.
Carrier Global Corporation (NYSE:CARR) will have Chairman & CEO David Gitlin and CFO Patrick Goris speak at the Credit Suisse Virtual Global Industrials Conference on December 1, 2021, at 11:30 a.m. ET. The event will be broadcast live and available for replay on ir.carrier.com following the presentation. Carrier Global is a leader in providing sustainable building and cold chain solutions, committed to innovation and customer satisfaction.
Carrier Global Corporation (NYSE:CARR) announces an expansion of its Healthy Homes program through a partnership with HGTV's Egypt Sherrod. Despite spending significant time indoors, awareness of indoor air quality and home safety remains low. Sherrod will provide educational resources to real estate professionals and homeowners to enhance the health and safety of living spaces. The initiative promotes advanced solutions like Supra's key credentialing and BrokerBay's scheduling platform, encouraging better home management. The collaboration aims to improve residents' overall well-being and home safety awareness.
Carrier Global Corporation (NYSE: CARR) will be represented by CFO Patrick Goris at the Deutsche Bank 2021 Industrials Conference on November 17, 2021, at 12:45 p.m. ET. This conference will focus on the latest advancements in industrials and market trends.
The event will be streamed live and available for replay on ir.carrier.com following the conference. Carrier continues to lead in providing solutions for a better, sustainable future.
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