Carrier Q1 sales up 17% to $6.2B; adjusted EPS $0.62; raises margin guidance to ~15.5%

CARRIER GLOBAL Corp

2024-Q1 EPS reported $0.29 revenue$6,182,000,000

Net sales $6.2B, up 17% YoY (organic +2%); GAAP EPS $0.29, adjusted EPS $0.62.
Adjusted operating margin expanded 280 bps; full-year margin guidance raised to ~15.5% from 15.0-15.5%.
Full-year adjusted EPS guidance maintained at $2.80-$2.90 despite $0.05 headwind from earlier business exits.
Free cash outflow $64M in Q1 due to seasonal working capital; expect to resume share repurchases in 2024.
Viessmann Climate Solutions contributed ~16% to sales; business exits on track with three of four closing within months.

item 2.02

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CARRIER GLOBAL Corp reported first quarter of 2024 results: revenue $6.2 billion, net income $269 million, EPS $0.29. Guidance reaffirmed.

Period: first quarter of 2024
Revenue: $6.2 billion
Net income: $269 million
EPS: $0.29
Guidance: reaffirmed
Result: reported results

Exact text from the filing

in 2024 as the net proceeds from the announced transactions help us return to ~2x net leverage this year.” 1 First Quarter 2024 Results Carrier’s first quarter sales of $6.2 billion were up 17% compared to the prior year including 2% organic growth and approximately 16% contribution from the acquisition of Viessmann Climate Solutions offset by about 1% from

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Source: SEC EDGAR

accession 0001783180-24-000042

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