Carrier Global (CARR) reported earnings on Thur 24 Oct 24 (b/o)

It was a noisy third quarter for Carrier as it reclassified its fire and security segment to discontinued operations. The businesses in this segment should all be sold by year-end. Adjusted for this change, organic revenue increased 4%, but adjusted operating margin slipped 40 basis points to 17.4%.

• Carrier Global (CARR) went public on April 3, 2020, when it opened at $12.98.

** charts after earnings **

 

 

 

• Fire & Security segment now reported as discontinued operations making prior guidance not comparable
• Net sales of $6.0 billion up 21% versus third quarter 2023; organic sales up 4%
• GAAP EPS from continuing operations of $0.62 and adjusted EPS from continuing operations of $0.77
• Total GAAP EPS of $0.49 and adjusted EPS of $0.83
• Final business exit on-track to close around year end
• Board increases remaining share repurchase authorization to $4.7 billion