Yahoo Finance Carrier (CARR) Boosts BluEdge With TRU Battery Protection
Carrier Global Corporation’s CARR Transicold is consistently expanding its refrigeration offerings on the back of new products.
Recently, Transicold announced that its BluEdge service platform will now offer fleets protection from the costs of premature battery failure in transport refrigeration units (TRUs) supported by Carrier Transicold's solar charging system.
The new offering aims to reduce the risk of battery failure and ensures quick replacement, including parts and labor.
The TRU Battery Protection option helps avoid emergency call-outs by maintaining battery charge without running the TRU, saving fuel, and preventing inconvenient situations.
Notably, the eligible units must have a BluEdge service plan, PowerRush battery and Carrier Transicold solar charging system.
The latest offering is expected to aid CARR in gaining momentum among new and existing customers. This in turn is expected to contribute to top-line growth of Carrier.
Carrier Global Corporation Price and Consensus
Carrier Global Corporation price-consensus-chart | Carrier Global Corporation Quote
Expanding Refrigeration Offerings
Carrier is making strong efforts to expand the offerings of this segment.
Recently, Transicold unveiled the Vector S15 temperature-controlled caravan unit, which brings new levels of fuel efficiency paired with minimal maintenance costs, delivers the performance and reliability expected from Transicold's Vector series and assists customers in lowering their operational expenses and carbon footprint.
Additionally, Transicold introduced two single-temperature electric truck refrigeration units as the core of its new Supra eCool line offering, with features such as efficient zero-emissions performance, maximum range and high refrigeration capacity, reduced service requirements, and more.
Further, Transicold introduced the XR series of engineless truck refrigeration units, which included the 40XR and 50XR versions. Compared to the prior versions, these units are designed for local and regional deliveries and provide improved air management, faster pulldown and more uniform temperature control.
Carrier's goal of reducing carbon footprint is supported by the XR series. Transicold expects the XR series to gain popularity among mid-sized and heavy truck owners.
We believe all these endeavors are likely to aid the performance of the Refrigeration segment in the near term.
In the first quarter of 2023, the segment generated $898 million in revenues, which accounted for 17% of net sales.
We note that the growth prospects of the underlined segment are likely to benefit the overall performance of Carrier. This is likely to instill investors’ optimism in the stock in the days ahead.
The Zacks Consensus Estimate for second-quarter 2023 revenues is pegged at $5.76 billion, indicating growth of 10.55% from the year-ago reported figure.
CARR has gained 4% in the year-to-date period compared with the industry’s rise of 0.9%.
Zacks Rank and Stocks to Consider
Currently, Carrier Global carries a Zacks Rank #3 (Hold).
Investors interested in the broader Zacks Computer & Technology sector can consider some better-ranked stocks like Ciena CIEN, DigitalOcean DOCN and AMETEK AME. Ciena, DigitalOcean and AMETEK each carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Ciena shares have lost 14.9% in the year-to-date time frame. The Zacks Consensus Estimate for CIEN’s fiscal year 2023 earnings is pegged at $2.81 per share, suggesting an increase of 47.9% from the prior year’s reported figure.
DigitalOcean shares have risen 27% in the year-to-date period. The Zacks Consensus Estimate for DOCN’s 2023 earnings is pegged at $1.66 per share, suggesting a jump from 94 cents per share reported in the prior year.
AMETEK shares have rallied 3.4% year to date. The Zacks Consensus Estimate for AME’s 2023 earnings is pegged at $6.08 per share, suggesting an increase of 7.04% from the prior year’s reported figure.
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