CARRIER GLOBAL Corp reported first quarter of 2026 results: revenue $5,341, EPS $0.28.
“our full-year outlook.” 1 Excludes NORESCO 1 First Quarter 2026 Results Total Company (Unaudited) Three Months Ended March 31 (In millions) 2026 2025 Change Net sales $ 5,341 $ 5,218 2 % Organic sales (1) % Operating profit $ 259 $ 629 (59) % Operating margin 4.8 % 12.1 % (730) bps Adjusted operating profit $ 594 $ 848 (30) % Adjusted operating margin”
Patrick Goris was appointed as interim Controller at CARRIER GLOBAL Corp.
“On April 16, 2025, Patrick Goris, Senior Vice President and Chief Financial Officer of the Company, agreed to become interim Controller of the Company, effective May 2, 2025, while a search for a permanent replacement is conducted.”
Kyle Crockett resigned as Vice President, Controller and Chief Accounting Officer at CARRIER GLOBAL Corp.
“On April 16, 2025, Kyle Crockett, Vice President, Controller and Chief Accounting Officer of Carrier Global Corporation (the “Company”), informed the Company that he is resigning to pursue another opportunity.”
Amy E. Miles was appointed as Independent Director at CARRIER GLOBAL Corp.
“The Board of Directors of Carrier Global Corporation (the “Company”) appointed Amy E. Miles as an independent director, effective January 15, 2025, with a term expiring at the 2025 Annual Meeting of Shareowners.”
Jurgen Timperman departed as President, Fire & Security at CARRIER GLOBAL Corp.
“On June 18, 2024, Carrier Global Corporation (the "Company") announced that Jurgen Timperman, President, Fire & Security of the Company, would be stepping down, effective as of July 1, 2024”
Beth A. Wozniak departed as Director at CARRIER GLOBAL Corp.
“On June 19, 2024, Carrier Global Corporation (the “Company”) announced that Beth A. Wozniak, a member of the Company’s Board of Directors and its Governance and Technology and Innovation committees, will step down from the Board and the committees on which she serves effective immediately.”
Timothy N. White changed role as Senior Vice President and Chief Product Officer at CARRIER GLOBAL Corp.
“On June 6, 2024, Carrier Global Corporation (the “Company”) announced that Timothy N. White, the Company’s President, Refrigeration, will transition into the newly-established role of Senior Vice President and Chief Product Officer of the Company, effective July 1, 2024.”
Debt Financings
CARRIER GLOBAL Corp incurred revolving credit of $500 million with JPMorgan Chase Bank, N.A., as administrative agent at Term SOFR Rate plus 0.10% and a ratings-based margin maturing 364 days.
“On May 17, 2024, Carrier Global Corporation (the "Company") refinanced and replaced a Prior Credit Agreement (as defined below) by entering into a 364-day senior unsecured revolving credit agreement among the Company and Carrier Intercompany Lending Designated Activity Company as borrowers, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent, facilitating borrowings of up to $500 million (the "Credit Agreement").”
Material Agreements
CARRIER GLOBAL Corp terminated 364-day senior unsecured revolving credit agreement with JPMorgan Chase Bank, N.A. valued at $500 million prior credit facility (effective 2024-05-17).
“Simultaneous with the entry into the Credit Agreement, the Company terminated its existing 364-day senior unsecured revolving credit agreement, dated as of May 19, 2023 (the “Prior Credit Agreement”) among the Company and Carrier Intercompany Lending Designated Activity Company as borrowers, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent, which provided for a $500 million senior unsecured 364-day revolving credit facility.”
Material Agreements
CARRIER GLOBAL Corp entered into 364-day senior unsecured revolving credit agreement with JPMorgan Chase Bank, N.A. valued at $500 million (effective 2024-05-17).
“On May 17, 2024, Carrier Global Corporation (the “Company”) refinanced and replaced a Prior Credit Agreement (as defined below) by entering into a 364-day senior unsecured revolving credit agreement among the Company and Carrier Intercompany Lending Designated Activity Company as borrowers, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent, facilitating borrowings of up to $500 million (the “Credit Agreement”).”
Earnings Releases
CARRIER GLOBAL Corp reported first quarter of 2024 results: revenue $6.2 billion, net income $269 million, EPS $0.29. Guidance reaffirmed.
“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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