Heating, ventilation, air conditioning, and refrigeration company Carrier Global (NYSE: CARR) will be reporting results this Thursday before the bell. Here’s what you need to know.
Carrier Global met analysts’ revenue expectations last quarter, reporting revenues of $5.58 billion, down 6.8% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates and a solid beat of analysts’ adjusted operating income estimates.
Is Carrier Global a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Carrier Global’s revenue to decline 3.1% year on year to $4.99 billion, a reversal from the 19.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.36 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Carrier Global has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Carrier Global’s peers in the hvac and water systems segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Zurn Elkay delivered year-on-year revenue growth of 9.8%, beating analysts’ expectations by 1.4%, and Trane Technologies reported revenues up 5.5%, topping estimates by 0.8%. Trane Technologies traded up 6.7% following the results.
Read our full analysis of Zurn Elkay’s results here and Trane Technologies’s results here.
There has been positive sentiment among investors in the hvac and water systems segment, with share prices up 8.5% on average over the last month. Carrier Global is up 12.5% during the same time and is heading into earnings with an average analyst price target of $70.54 (compared to the current share price of $61.10).
P.S. STOP buying the AI stocks everyone's talking about. The real money? It’s in the profitable pick nobody’s watching yet. We’ve identified an AI profit machine that’s flying under Wall Street’s radar—for now. We can’t keep this research public forever—grab your FREE copy before we pull it offline. GO HERE NOW.
