Key Takeaways:
- Carrier reported Q2 revenue of $6.35B, topping consensus by $212M.
- Adjusted EPS of $0.86 beat the $0.83 estimate by 3.6%.
- The HVAC and refrigeration company did not disclose forward guidance.
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Carrier beats Q2 estimates with $0.86 EPS as HVAC demand holds up
Carrier Global reported Q2 revenue of $6.35 billion and adjusted EPS of $0.86, both beating consensus estimates.
"The results reflect continued demand across our HVAC and refrigeration segments," CEO David Gitlin said.
Revenue rose from the $6.14 billion analysts had projected, while adjusted earnings of $0.86 per share topped the $0.83 consensus compiled by Bloomberg. The company did not disclose segment-level breakdowns or updated full-year guidance alongside the quarterly release.
The earnings beat comes as Carrier navigates a mixed demand environment for HVAC systems, with commercial construction activity holding steady while residential markets face pressure from elevated interest rates. Carrier, which completed the spinoff of its commercial fire and security businesses in prior years, has focused on expanding its refrigeration and HVAC service revenue streams.
Shares of Carrier have gained about 12% year to date through Monday's close, outperforming the broader S&P 500's 8% advance. The company's next catalyst will be its investor day, where management is expected to provide margin targets and capital allocation priorities.
This article is for informational purposes only and does not constitute investment advice.
