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) is expanding its Healthy Buildings Program to facilitate a safe return to in-person instruction in K-12 schools amid the rollout of the $1.9 trillion American Rescue Plan Act. The new BluEdge K-12 program offers tailored indoor air quality solutions with attractive pricing. Schools can benefit from proprietary assessments and recommended improvements that include advanced filtration and ventilation kits. These initiatives aim to enhance public health and inspire confidence among parents and staff as schools reopen safely.
Carrier Global Corporation (NYSE: CARR) announced that Emerson (NYSE: EMR) has joined its Carrier Alliance program. This partnership aims to enhance their collaboration on advanced technologies, particularly in the HVAC and Refrigeration sectors. Emerson will supply critical components, such as compressors and sensors, which are essential for Carrier's product offerings. The agreement is expected to improve data analytics and product quality, addressing higher Seasonal Energy Efficiency Ratio (SEER) standards set for 2023. Both companies are focused on providing sustainable solutions in a changing regulatory landscape.
Carrier has launched a new website targeting small-business owners seeking indoor air quality solutions. The site features the OptiClean Air Scrubber for direct purchase. This device effectively cleans air using HEPA filters and is designed for various room sizes, supporting optimal indoor environments. Notably, the OptiClean was recognized by TIME in its 100 Best Inventions of 2020. Carrier aims to simplify access to these technologies for businesses evaluating air quality.
Carrier Global Corporation (NYSE:CARR) will present at the J.P. Morgan 2021 Industrials Conference on March 16, 2021, at 8:50 a.m. ET. President & CEO Dave Gitlin and CFO Patrick Goris will represent the company. The event will be broadcast live on ir.carrier.com, with a replay available afterward. Carrier is a leading global provider of healthy, safe, and sustainable building solutions, focused on innovation and customer satisfaction.
Carrier Global Corporation (NYSE: CARR) is partnering with the American Hotel & Lodging Association (AHLA) to refine the Safe Stay Guidelines for the hospitality sector. This initiative aims to enhance air quality, ventilation, and contactless solutions in hotels, aiding the industry's recovery from the pandemic. Carrier will contribute its expertise in healthy building solutions and work collaboratively with industry leaders to create practical guidance for hotel operators. This partnership underscores Carrier's commitment to improving guest health and safety standards.
Carrier Global Corporation (CARR) and the International WELL Building Institute (IWBI) are collaborating to enhance healthy building practices globally. This partnership aims to accelerate market transformation through education and the adoption of health-oriented building solutions. Carrier has achieved the WELL Health-Safety Rating for its Shanghai factory and offices in major Chinese cities. The initiative is designed to improve indoor environments, critical during the pandemic. Key efforts will include research, new solutions for safe indoor spaces, and policy work to enhance accessibility to healthier residences.
Carrier Global Corporation (NYSE: CARR) announced that Alfa Laval has joined its Carrier Alliance program through a strategic long-term agreement. This partnership will allow Alfa Laval to supply engineered heat exchangers for Carrier's Commercial HVAC and Refrigeration portfolios globally. The collaboration aims to enhance sustainability and reduce environmental impacts through improved thermal efficiency. This agreement strengthens Carrier's supply chain, driving cost savings and future growth opportunities for both companies.
Automated Logic has partnered with Valencia College to create a hands-on degree program in Energy Management and Control (EMCT) to tackle the shortage of skilled technicians in the building automation industry. The initiative includes a grant for curriculum development, scholarships, and paid internships to enhance student employability. Automated Logic's president highlighted the need for talent in Florida and plans to expand the program nationally. This collaboration is designed to support a robust talent pipeline in building automation.
Carrier Global Corporation (NYSE: CARR) will be represented by President & CEO Dave Gitlin and CFO Patrick Goris at the Barclays Industrial Select Conference on February 16, 2021, at 12:50 p.m. EST. The conference will be broadcast live and will allow investors and stakeholders to gain insights into the company's strategies and performance. A replay of the webcast will be available afterward on their website. Carrier is a leading provider of sustainable building and cold chain solutions, emphasizing innovation and a customer-centered approach.
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?
