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4d ago

Carrier Global Surpasses Q1 Expectations and Raises 2025 Earnings Outlook

The HVAC leader reports stronger-than-expected revenue and earnings, driven by pricing, productivity gains, and segment growth, while boosting its full-year guidance.

A private security guard walks past a logo of Carrier Corp outside the air conditioner plant, a unit of United Technologies Corp, in Santa Catarina, on the outskirts of Monterrey, Mexico, February 17, 2016. Picture taken February 17, 2016. REUTERS/Daniel Becerril/File photo
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Overview

  • Carrier Global reported Q1 2025 revenue of $5.22 billion and adjusted EPS of $0.65, beating analyst estimates of $5.18 billion and $0.58 per share, respectively.
  • Despite a 4% year-over-year revenue decline due to the sale of its commercial refrigeration business, organic revenue grew by 2%.
  • Adjusted EPS rose 27% year-over-year, supported by strong pricing, improved productivity, and a leaner cost structure.
  • The company generated $420 million in free cash flow in Q1, a significant turnaround from a negative cash flow position a year earlier.
  • Carrier raised its full-year adjusted EPS guidance to $3.00–$3.10 per share, reaffirmed mid-single-digit organic growth expectations, and confirmed full tariff mitigation efforts.