Carrier Global (NYSE:CARR) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Carrier Global (NYSE:CARR) released its quarterly earnings results on Tuesday. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.04, FiscalAI reports. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.02 billion. Carrier Global had a net margin of 5.52% and a return on equity of 14.68%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.92 earnings per share. Carrier Global updated its FY 2026 guidance to 2.900-2.900 EPS.

Here are the key takeaways from Carrier Global’s conference call:

• Carrier raised its 2026 outlook, now expecting approximately $23 billion in sales, $3.5 billion in adjusted operating profit, and $2.90 in adjusted EPS, supported by stronger-than-expected first-half results.
• Orders increased about 40% in the quarter, with commercial HVAC orders up 65% and data-center orders up fourfold; total backlog exceeded $8 billion, providing strong visibility into second-half growth and 2027 demand.
• Carrier raised its 2026 data-center sales forecast to approximately $2 billion, with $1.5 billion expected in the second half, and plans a new U.S. facility to expand capacity for continued hyperscaler and colocation demand.
• Second-quarter margins declined year over year due to unfavorable business mix, higher input costs, tariff timing, lower joint-venture income, and increased investments; management expects third-quarter operating margin to fall sequentially to about 16.5%.
• Residential and light-commercial markets improved, with North American residential sales up 9% and European heat-pump sales up 20%; Carrier also completed the Riello divestiture, announced the NORESCO sale, and acquired 75F to expand its cloud-native, AI-enabled building-management platform.

Carrier Global Stock Down 0.5%

Shares of CARR stock traded down $0.30 on Thursday, reaching $59.62. 3,720,773 shares of the company were exchanged, compared to its average volume of 6,994,440. The company has a market cap of $49.52 billion, a price-to-earnings ratio of 41.37, a PEG ratio of 2.52 and a beta of 1.31. The company has a 50-day moving average of $68.56 and a 200-day moving average of $63.45. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.02 and a quick ratio of 0.75. Carrier Global has a one year low of $50.24 and a one year high of $76.76.

Carrier Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Tuesday, July 21st will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, July 21st. Carrier Global’s dividend payout ratio is 63.16%.

Analysts Set New Price Targets

A number of analysts recently weighed in on CARR shares. Wolfe Research restated an “outperform” rating and issued a $80.00 price objective on shares of Carrier Global in a report on Thursday, July 9th. Rothschild & Co Redburn lifted their target price on Carrier Global from $61.00 to $73.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Citigroup upped their price target on Carrier Global from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Barclays increased their price target on Carrier Global from $67.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, Robert W. Baird raised their price objective on Carrier Global from $70.00 to $75.00 in a research report on Friday, May 1st. Twelve analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.67.

Institutional Trading of Carrier Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. grew its stake in Carrier Global by 17.3% in the fourth quarter. Invesco Ltd. now owns 4,871,584 shares of the company’s stock valued at $257,415,000 after acquiring an additional 716,812 shares during the period. Corient Private Wealth LLC lifted its holdings in shares of Carrier Global by 12.1% in the 4th quarter. Corient Private Wealth LLC now owns 447,054 shares of the company’s stock worth $23,627,000 after purchasing an additional 48,419 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in Carrier Global by 15.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 153,856 shares of the company’s stock valued at $7,790,000 after purchasing an additional 20,905 shares during the period. Virtue Capital Management LLC increased its stake in Carrier Global by 438.7% during the 4th quarter. Virtue Capital Management LLC now owns 5,802 shares of the company’s stock valued at $311,000 after purchasing an additional 4,725 shares in the last quarter. Finally, Vident Advisory LLC raised its holdings in Carrier Global by 23.4% during the fourth quarter. Vident Advisory LLC now owns 818,398 shares of the company’s stock worth $43,244,000 after buying an additional 154,977 shares during the last quarter. 91.00% of the stock is owned by institutional investors.

Carrier Global Company Profile

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.