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Carrier Global Corporation - CARR STOCK NEWS

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.

News

Carrier Receives European Commission Approval to Complete Acquisition of Viessmann Climate Solutions

Rhea-AI Summary
Carrier Global Corporation (CARR) has received approval from the European Commission to proceed with its proposed acquisition of Viessmann Climate Solutions, with the transaction expected to close on January 2, 2024. This acquisition will provide Carrier with a comprehensive and differentiated suite of sustainable climate technologies and services in the industry's fastest growing segments and geographies.
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Haier Smart Home Acquires Carrier's Commercial Refrigeration Business for USD 640 million

Rhea-AI Summary
Haier Smart Home (NYSE: CARR) has entered into a stock purchase agreement with Carrier Global Corporation to acquire Carrier's Commercial Refrigeration Business for approximately USD 640 million. This acquisition will enable Haier Smart Home to expand into the commercial refrigeration business, creating additional growth opportunities. The transaction is expected to close in the second half of 2024, subject to regulatory approvals and customary closing conditions.
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Carrier Announces Agreement to Sell Carrier Commercial Refrigeration to Haier

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Carrier Global Corporation (CARR) has entered into a definitive agreement to sell its global commercial refrigeration business to Haier (600690) for an enterprise value of $775 million, including $200 million of net pension liabilities.
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Carrier Announces Agreement to Sell Global Access Solutions Business to Honeywell for $4.95 Billion

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Carrier Global Corporation (CARR) has entered into a definitive agreement to sell its security business, Global Access Solutions, to Honeywell (HON) for an enterprise value of $4.95 billion. The sale represents approximately 17x 2023 expected EBITDA and is a part of Carrier's portfolio transformation strategy. The net proceeds from the transaction are expected to be approximately $4 billion, which Carrier plans to use to pay down debt and resume share repurchases as soon as its net leverage returns to approximately 2x EBITDA.
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Honeywell to Strengthen Building Automation Business with Acquisition of Carrier's Global Access Solutions

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Honeywell (HON) announced the acquisition of Carrier Global Corporation's (CARR) Global Access Solutions business for $4.95 billion in an all-cash transaction. The purchase price represents approximately 13x 2023E EBITDA, inclusive of tax benefits and run-rate cost synergies. The acquisition will enhance Honeywell's building automation capabilities, strengthening its strategic alignment to the megatrend of automation and will be immediately accretive to growth, gross margins, and operating margins. By the fifth full year of ownership, the acquisition is expected to achieve a double-digit cash-ROIC.
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Carrier Board of Directors Declares Quarterly Cash Dividend

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Carrier Global Corporation (NYSE:CARR) declares a quarterly dividend of $0.19 per share, reflecting confidence in its long-term prospects and portfolio transformation. The dividend will be payable on February 9, 2024, to shareowners of record at the close of business on December 21, 2023. Carrier is committed to delivering shareholder value through disciplined capital allocation, including organic growth investments, dividends, acquisitions, and share buybacks.
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Carrier Global Corporation Announces Closing of €2.35 Billion and $3.0 Billion Notes Offerings

Rhea-AI Summary
Carrier Global Corporation (CARR) has successfully closed private offerings of $3,000,000,000 USD-denominated notes and €2,350,000,000 euro-denominated notes. The weighted average cost of the debt associated with these offerings is approximately 5.07%, resulting in an overall weighted average cost of Carrier's outstanding long-term debt of under 4%. The net proceeds will be used to fund the acquisition of the climate solutions business of Viessmann Group GmbH & Co. KG and pay fees and expenses related to the acquisition.
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Carrier Global Corporation Announces Pricing of $3.0 Billion and €2.35 Billion Notes

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Carrier Global Corporation (NYSE: CARR) Announces Pricing of $3,000,000,000 USD Notes and €2,350,000,000 Euro Notes Offering for Acquisition Financing. The notes consist of various denominations and are expected to close on November 29 and 30, 2023. The proceeds will fund the acquisition of Viessmann Group GmbH & Co. KG's climate solutions business.
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Carrier to Present at Baird's 2023 Global Industrial Conference

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Carrier Global Corporation's Chairman & CEO, David Gitlin, will speak at the Baird 2023 Global Industrial Conference on November 7, 2023. The event will be broadcast live at ir.carrier.com and a webcast replay will be available on the website.
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Carrier Reports Third Quarter 2023 Results

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Carrier Global Corporation reports strong financial results for Q3 2023, with net sales up 5% and organic sales up 3%. GAAP EPS is $0.42 and adjusted EPS is $0.89. Net cash inflows from operating activities were $1.04 billion and free cash flow generation was $949 million. Carrier raises adjusted EPS guidance for 2023 to ~$2.70.
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FAQ

What is the current stock price of Carrier Global Corporation (CARR)?

The current stock price of Carrier Global Corporation (CARR) is $74.53 as of November 15, 2024.

What is the market cap of Carrier Global Corporation (CARR)?

The market cap of Carrier Global Corporation (CARR) is approximately 67.3B.

What does Carrier Global Corporation do?

Carrier Global Corporation provides heating, ventilation, and air conditioning (HVAC), refrigeration, and fire & security products and services.

What are Carrier's recent strategic moves?

Carrier recently announced plans to divest its fire and security and commercial refrigeration businesses and acquired Viessmann Climate Solutions for around $13 billion.

What major business has Carrier sold recently?

Carrier sold its Industrial Fire business to Sentinel Capital Partners for $1.425 billion and its Global Access Solutions business to Honeywell for $4.95 billion.

How is Carrier performing financially?

Carrier reported strong first-quarter 2024 results with a 17% increase in sales driven by the Viessmann acquisition and organic growth.

What is Carrier's current focus?

Carrier is focusing on becoming a global leader in intelligent climate and energy solutions.

What are Carrier's main business segments?

Carrier's main business segments are HVAC, refrigeration, and fire & security.

What innovations is Carrier working on?

Carrier is investing in liquid cooling solutions for data centers through a partnership with Strategic Thermal Labs.

How is Carrier planning to use the proceeds from its business sales?

Carrier plans to use the proceeds to pay down debt and resume share repurchases.

Where can I find more information about Carrier?

More information about Carrier Global Corporation can be found on their website at www.corporate.carrier.com or by following them on social media at @Carrier.

What recent acquisition has Carrier made to enhance its climate solutions?

Carrier recently acquired Viessmann Climate Solutions to enhance its offerings in climate and energy solutions.

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Carrier Global Corporation

NYSE:CARR

CARR Rankings

#209 Ranked by Market Cap
#1804 Ranked by Dividends

CARR Stock Data

67.27B
897.23M
6.66%
85.44%
1.43%
Building Products & Equipment
Air-cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip
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