Carrier Global (NYSE:CARR) Announces 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 for the quarter, beating the consensus estimate of $0.82 by $0.04, FiscalAI reports. The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.02 billion. Carrier Global had a net margin of 5.99% and a return on equity of 14.81%. The business’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.92 EPS. 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 Price Performance

Shares of NYSE CARR traded down $2.45 during mid-day trading on Wednesday, hitting $60.71. 780,293 shares of the stock traded hands, compared to its average volume of 6,908,880. The company has a market cap of $50.42 billion, a PE ratio of 39.79, a price-to-earnings-growth ratio of 2.78 and a beta of 1.31. Carrier Global has a twelve month low of $50.24 and a twelve month high of $76.76. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.05 and a quick ratio of 0.75. The firm has a 50 day simple moving average of $68.63 and a two-hundred day simple moving average of $63.41.

Carrier Global Announces Dividend

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

Key Stories Impacting Carrier Global

Here are the key news stories impacting Carrier Global this week:

• Positive Sentiment: Second-quarter results exceeded expectations. Carrier reported adjusted EPS of $0.86, above the roughly $0.82–$0.83 consensus, while revenue rose 3.9% year over year to $6.35 billion, surpassing the $6.02 billion estimate. Carrier Reports Second Quarter 2026 Results
• Positive Sentiment: Management raised its 2026 outlook. Carrier now expects approximately $23 billion in sales and adjusted EPS of about $2.90, ahead of analyst expectations of roughly $22.2 billion in revenue and $2.80 EPS. The company also increased its outlook for adjusted operating profit. Carrier 2026 Forecast
• Positive Sentiment: Data-center demand is becoming a larger growth driver. Carrier lifted its 2026 data-center revenue outlook to approximately $2 billion, while stronger HVAC orders and commercial demand supported the quarter. Carrier Q2 Earnings and HVAC Orders
• Neutral Sentiment: Carrier agreed to sell its Noresco business to LS Power. The transaction supports Carrier’s portfolio simplification and could generate proceeds, although the financial terms and closing details were not provided. Carrier to Sell Noresco Business
• Negative Sentiment: Profitability remains a concern. Quarterly EPS declined from $0.92 a year earlier to $0.86, and commentary pointed to margin pressure despite stronger sales and orders. With CARR trading at a relatively high forward valuation, investors may have expected an even stronger outlook, helping explain the weaker share performance after the announcement.

Hedge Funds Weigh In On Carrier Global

A number of hedge funds have recently modified their holdings of the business. Brighton Jones LLC boosted its holdings in Carrier Global by 30.3% in the fourth quarter. Brighton Jones LLC now owns 7,958 shares of the company’s stock valued at $543,000 after acquiring an additional 1,850 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Carrier Global by 51.5% in the 1st quarter. AQR Capital Management LLC now owns 68,225 shares of the company’s stock valued at $4,236,000 after purchasing an additional 23,200 shares during the period. United Bank grew its stake in Carrier Global by 41.2% during the second quarter. United Bank now owns 16,991 shares of the company’s stock worth $1,244,000 after purchasing an additional 4,956 shares during the period. Schnieders Capital Management LLC. increased its holdings in Carrier Global by 33.7% in the second quarter. Schnieders Capital Management LLC. now owns 16,967 shares of the company’s stock worth $1,242,000 after purchasing an additional 4,277 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its stake in Carrier Global by 6.0% in the second quarter. Guggenheim Capital LLC now owns 9,903 shares of the company’s stock valued at $725,000 after buying an additional 561 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CARR. Robert W. Baird boosted their price objective on Carrier Global from $70.00 to $75.00 in a report on Friday, May 1st. Evercore lifted their target price on Carrier Global from $75.00 to $85.00 in a report on Friday, May 1st. Rothschild & Co Redburn boosted their target price on shares of Carrier Global from $61.00 to $73.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Morgan Stanley boosted their price target on Carrier Global from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, May 28th. Finally, Barclays upped their price target on shares of Carrier Global from $67.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Twelve equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, Carrier Global has a consensus rating of “Moderate Buy” and an average price target of $73.51.

About Carrier Global

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.