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's smart building platform, Abound, is being implemented in Cherokee County School District to enhance indoor air quality for K-12 settings. This open, cloud-based platform aggregates data from various sensors to provide real-time insights on air quality and energy usage. Since its introduction, the district has seen decreased temperature complaints and is planning to expand its use to classrooms. The initiative is part of Carrier's Healthy Buildings Program and utilizes government funding to improve conditions in educational facilities.
Carrier Global Corporation (NYSE:CARR) has announced the acquisition of Cavius, a Danish company specializing in residential alarm systems. This strategic move is expected to enhance Carrier's Fire & Security offerings in Europe, including expanding their existing Kidde product line. Notably, Cavius is known for its innovative smoke alarm technology, including the world's smallest photoelectric smoke alarm. The acquisition aims to accelerate Carrier's innovation pipeline and provide opportunities for growth in Europe and Asia. Financial terms of the deal were not disclosed.
Carrier Global Corporation (NYSE:CARR) declared a quarterly dividend of $0.12 per share, payable on November 22, 2021, to shareholders of record by October 29, 2021. This decision reflects the company's commitment to returning value to shareholders while supporting its sustainable growth initiatives. Carrier emphasizes its leading role in providing healthy and safe building solutions and remains focused on innovation.
Carrier Global Corporation has been recognized on the 2021 Fortune Change the World list, highlighting its commitment to addressing societal challenges through innovative business initiatives. The company’s Healthy Buildings Program aims to enhance indoor air quality and safety, particularly in the wake of the COVID-19 pandemic. Key technologies include the OptiClean™ Dual-Mode Air Scrubber, used in numerous schools, and the Abound IoT platform for real-time air quality monitoring. Research funded by Carrier demonstrates a strong link between healthier buildings and improved cognitive function.
Carrier Global Corporation (NYSE:CARR) is scheduled to release its third quarter 2021 earnings on October 28, 2021, at 8:30 a.m. ET. The subsequent conference call will be available via webcast at ir.carrier.com. Investors can dial (877) 742-9091 for audio, with replay options starting at 11:30 a.m. ET on the same day until November 4, 2021. Carrier is recognized as a global leader in providing sustainable building and cold chain solutions. For more details, visit www.Corporate.Carrier.com.
Carrier Global Corporation (NYSE: CARR) has finalized its acquisition of Nlyte Software, a key player in data center infrastructure management software. This acquisition, first announced on September 22, 2021, allows Carrier to enhance its HVAC business by integrating Nlyte's expertise into Automated Logic Corporation (ALC), Carrier's building automation segment. The deal aims to strengthen Carrier's strategic focus on sustainable solutions and create integrated offerings for customers in the growing DCIM market. Financial details of the transaction remain undisclosed.
Carrier Global Corporation (NYSE: CARR) announced the completion of its acquisition of BrokerBay Inc. on October 4, 2021, following a prior announcement on September 16, 2021. BrokerBay is an advanced real estate management cloud ecosystem, which will enhance Carrier's Supra segment, improving scheduling, communication, and agent productivity. This strategic acquisition aims to revolutionize digital services in the real estate sector and is part of Carrier's strategy to increase recurring revenue through enhanced offerings. The terms of the transaction were not disclosed.
Carrier is expanding its Healthy Homes initiative in China with the introduction of the Kidde MOON series of smart home devices, which includes various safety detectors. This marks Carrier's entry into China's growing residential smart home market, projected to reach US$ 48.2 billion by 2027. The products provide enhanced home health monitoring and connect via a mobile app, responding to increased demand for smart devices amidst urbanization trends.
Kidde has announced Birdie, a fire service dog from CAL FIRE, as the winner of its inaugural Fire Service Dog of the Year contest, held in recognition of National Fire Pup Day. The contest engaged U.S. fire departments to submit photos of their working dogs, with Birdie winning through popular vote. As a reward, Birdie’s station will receive 10 pet oxygen masks valued at $1,200 and other promotional features. Kidde emphasizes the importance of pet fire safety, launching campaigns to educate pet owners, especially as COVID-19 restrictions ease, allowing pets to be left alone more often.
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