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) announced that Wabash Plastics has joined the Carrier Alliance program and signed a strategic long-term agreement. Wabash will supply injection molded components for Carrier's Residential HVAC products, reinforcing their two-decade relationship. This partnership aims to optimize the supply chain, enhance cost savings, and ensure quality service. The collaboration supports Carrier's high-efficiency gas furnaces and heating systems, which appeal to homeowners looking to reduce energy costs and environmental impact.
Carrier Global Corporation (NYSE:CARR) announced a 50% increase in its quarterly dividend, raising it from $0.08 to $0.12 per share. This dividend will be payable on February 10, 2021, to shareholders of record by the close of business on December 23, 2020. Carrier's President & CEO, Dave Gitlin, highlighted that the increase reflects confidence in the company's performance and balanced capital deployment, along with a significant $1.5 billion debt repayment. Carrier continues to focus on growth and sustainability in building solutions.
Carrier Global Corporation (NYSE: CARR) has signed an agreement to sell its remaining stake in Beijer Ref AB to EQT for approximately $1.1 billion. This follows the previous sale of 9.25 million B shares for about $300 million in September 2020. The sale aims to enhance value for shareholders by reallocating proceeds towards growth initiatives and debt reduction. The transaction is expected to close by the end of December 2020, pending regulatory approval. Carrier maintains a distribution relationship with Beijer Ref, which specializes in refrigeration and HVAC products.
Carrier Global Corporation (NYSE: CARR) announces three upcoming webinars in its A Healthier Future Starts Indoors series, focusing on the importance of healthy indoor environments. Key sessions include 'Enhancing Occupant Safety and Security in Today's Buildings' on December 15, 2020, 'Building a Modern Healthy Home' on January 20, 2021, and 'Why Fire and Life Safety Plans Are Critical to Healthy Buildings' on January 28, 2021. These webinars aim to educate stakeholders about optimizing building health, safety, and efficiency in response to the increased awareness of indoor environment quality.
Carrier Global Corporation (NYSE: CARR) announced that Nidec Motors has joined its Carrier Alliance program through a strategic long-term agreement. Nidec Motors will supply Carrier-branded OEM and replacement motors for HVAC and Refrigeration across North America, Europe, and Asia. This partnership aims to enhance Carrier's supply chain, driving costs savings and providing growth opportunities. Nidec Motors also supplies motors for Carrier's award-winning OptiClean Air Scrubber, reinforcing their role as a key supplier, contributing to innovation and sustainability.
Carrier Global Corporation (NYSE: CARR) announced that Sensata Technologies has joined its Carrier Alliance program through a long-term agreement. Sensata will supply IoT-enabled sensors and controls for Carrier's HVAC and Refrigeration products, enhancing system performance and connectivity. This partnership aims to optimize the supply chain and drive cost savings. Both companies view this collaboration as beneficial, reinforcing Sensata's role as a key supplier and supporting future innovative technology opportunities.
Carrier Global Corporation (NYSE: CARR) has announced its inaugural set of Environmental, Social, and Governance (ESG) goals post-independence. The company aims for carbon neutrality by 2030 and plans to reduce customers' carbon footprints by over one gigaton. Carrier will invest more than $2 billion over the next decade to enhance building and cold chain solutions. Key goals include establishing a responsible supply chain, achieving gender parity in leadership, and maintaining world-class safety metrics.
Carrier Global Corporation (NYSE:CARR) will participate in the Credit Suisse 8th Annual Virtual Industrials Conference on December 3 at 1:50 p.m. Eastern Time. The event features insights from Dave Gitlin, President & CEO, and Patrick Goris, CFO. It will be available for live streaming at ir.carrier.com, with a replay accessible afterward. Carrier is a leader in sustainable building and cold chain solutions, dedicated to innovation and customer satisfaction.
Carrier Global Corporation (NYSE: CARR) announced that its OptiClean™ Dual-Mode Air Scrubber & Negative Air Machine has been recognized in TIME's 100 Best Inventions of 2020. Developed rapidly to aid hospitals during the pandemic, OptiClean enhances indoor air quality in various environments by using a HEPA filter to scrub air and reduce contaminants. This innovation is part of Carrier's Healthy Buildings Program aimed at providing safer and cleaner indoor environments. The recognition emphasizes Carrier's commitment to creating effective and sustainable solutions amid public health challenges.
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