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 has launched a new Wi-Fi-enabled smart air purifier as part of its Healthy Homes Program, designed to enhance indoor air quality in homes. The purifier utilizes three filtration technologies including a HEPA filter that captures 99.97% of particles as small as 0.3 microns. It features Smart Auto Mode with 18 fan speeds, and can be controlled via the Carrier Home app, which allows remote monitoring of air quality and filter life. This product aims to meet growing consumer demand for healthier indoor environments.
A study by the University of Colorado Boulder revealed that Carrier air purifiers can reduce airborne particles in K-12 classrooms by 42-67%, significantly improving air quality in older buildings with outdated HVAC systems. Conducted at Cheltenham Elementary School, the research highlighted the effectiveness of Carrier's technology in reducing particulate matter, particularly harmful PM 2.5 levels. Carrier aims to enhance classroom environments without costly infrastructure modifications. Their air purifiers utilize advanced filtration technologies to ensure cleaner indoor air, supporting healthier learning settings for students and staff.
Carrier Global Corporation (NYSE: CARR) has appointed Beth Wozniak to its Board of Directors, effective immediately. Wozniak brings extensive experience, having previously served as CEO of nVent Electric and holding senior roles at Pentair and Honeywell. Her background in applying digital solutions to industrial companies is expected to enhance Carrier's innovative capabilities. Chairman & CEO Dave Gitlin praised her unique skillset as vital for Carrier's growth and commitment to performance and ESG leadership.
Carrier Global Corporation (NYSE: CARR) has declared a quarterly dividend of $0.12 per share, payable on August 10, 2021, to shareholders on record as of June 24, 2021. This announcement highlights Carrier's commitment to returning value to its shareholders. The company positions itself as a leader in providing sustainable building and cold chain solutions, aiming for long-term growth and stability in fluctuating market conditions.
Carrier has successfully acquired a controlling stake in Guangdong Giwee Group and its subsidiaries, including Guangdong Chigo Heating & Ventilation Equipment Co., Ltd, enhancing its presence in the growing variable refrigerant flow (VRF) and light commercial market projected to reach $20B by 2025. The strategic acquisition aligns with Carrier's goals to expand its geographic footprint and leverage Giwee Group's strengths in HVAC solutions. Completion of the acquisition is anticipated in Q3 2021, subject to regulatory approvals.
Carrier Global Corporation (NYSE:CARR) will participate in a virtual Wolfe Research Global Transportation and Industrials Conference on May 25, 2021, at 11:10 a.m. ET. Senior VP and CFO Patrick Goris is set to speak during the event. The conference will be streamed live on ir.carrier.com, with a replay accessible afterward. With a commitment to sustainable building and cold chain solutions, Carrier aims to enhance safety and comfort worldwide.
Carrier Global Corporation (NYSE: CARR) announced that LU-VE Group has joined its Carrier Alliance program through a strategic long-term agreement. This partnership will allow LU-VE Group to supply engineered components such as heat exchangers and glass doors for Carrier's Commercial HVAC and Refrigeration portfolios. The collaboration aims to enhance heat exchanger technology and focus on sustainable refrigerant solutions. Carrier's Alliance program intends to optimize the supply chain, driving cost savings and growth opportunities for both companies.
Carrier Global Corporation (NYSE:CARR) will participate in the Goldman Sachs 2021 Industrials & Materials Virtual Conference on May 11, 2021, at 1:50 p.m. ET. The event will feature comments from Chairman & CEO Dave Gitlin and SVP & CFO Patrick Goris. Interested parties can listen to the live broadcast at ir.carrier.com, with a replay available afterwards. Carrier focuses on providing healthy, safe, and sustainable building and cold chain solutions, fostering innovation for a better future.
FAQ
What is the current stock price of Carrier Global Corporation (CARR)?
What is the market cap of Carrier Global Corporation (CARR)?
What does Carrier Global Corporation do?
What are Carrier's recent strategic moves?
What major business has Carrier sold recently?
How is Carrier performing financially?
What is Carrier's current focus?
What are Carrier's main business segments?
What innovations is Carrier working on?
How is Carrier planning to use the proceeds from its business sales?
Where can I find more information about Carrier?
What recent acquisition has Carrier made to enhance its climate solutions?
