Carrier Q4 adj. EPS $0.53 (+33% YoY); FY2024 guidance adj. EPS $2.80-$2.90

CARRIER GLOBAL Corp

2023-FY EPS reported $1.58 revenue$22,098,000,000

Q4 sales $5.1B flat YoY; GAAP EPS $0.49 (+53%), adjusted EPS $0.53 (+33%).
FY2023 sales $22.1B (+8%); adjusted EPS $2.73; free cash flow $2.1B (+53%).
FY2024 guidance: sales ~$26.5B, adj. EPS $2.80-2.90, adj. operating margin 15.0-15.5%.
Completed Viessmann Climate Solutions acquisition in Jan 2024; agreed to sell Global Access Solutions and Commercial Refrigeration for ~$6B combined.
Q4 HVAC segment: NA residential sales down high-single digits offset by global commercial HVAC growth.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CARRIER GLOBAL Corp reported full-year 2023 results: revenue $22.1B, net income $1.3B, EPS $1.58.

Period: full-year 2023
Revenue: $22.1B
Net income: $1.3B
EPS: $1.58
Result: reported results

Exact text from the filing

Carrier’s 2023 sales of $22.1B increased 8% compared to the prior year including organic sales growth of 3% and a 5% impact from acquisitions and divestitures. Gross margins increased 210 basis points compared to the prior year. GAAP operating profit of $2.3B decreased 49% due to prior year gains on the sale of Chubb and the acquisition of Toshiba Carrier, while adjusted operating profit increased 11% to $3.2B. Operating margin decreased due to the prior year impact of the Chubb and Toshiba Carrier-related gains. Adjusted operating margin increased despite the impact from the consolidation of Toshiba Carrier. Strong price realization more than offset continued inflation and productivity savings more than offset strategic incremental investments. GAAP EPS was $1.58 and adjusted EPS was $2.73. Net income was $1.3B, and adjusted net income was $2.3B.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CARRIER GLOBAL Corp reported full-year 2024 results: revenue $26.5B, EPS $2.80 - $2.90. Guidance initiated.

Period: full-year 2024
Revenue: $26.5B
EPS: $2.80 - $2.90
Guidance: initiated
Result: guidance update

Exact text from the filing

Carrier is announcing the following outlook for 2024: 2024 Guidance** Sales ~$26.5B Organic* up MSD FX 0% Acquisitions +20% Divestitures (5%) Adjusted Operating Margin* 15.0% - 15.5% Adjusted EPS* $2.80 - $2.90 Free Cash Flow* ~$0.7B Includes $1.7B of expected tax payments on the gains from the announced business exits, restructuring, and transaction-related costs

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Source: SEC EDGAR

accession 0001783180-24-000007

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