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Carrier Global (CARR) Reports Q1 Earnings: What Key Metrics Have to Say

Zacks Equity Research
·2-min read

Carrier Global (CARR) reported $6.18 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 17.2%. EPS of $0.62 for the same period compares to $0.52 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $6.27 billion, representing a surprise of -1.38%. The company delivered an EPS surprise of +24.00%, with the consensus EPS estimate being $0.50.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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Here is how Carrier Global performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net Sales- HVAC: $4.54 billion versus $4.39 billion estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +25.4% change.

  • Net Sales- Refrigeration: $884 million versus $896.65 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -1.6% change.

  • Net Sales- Fire & Security: $887 million compared to the $831.23 million average estimate based on three analysts. The reported number represents a change of +2.1% year over year.

  • Net Sales- Eliminations and other: -$130 million versus -$131.19 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +12.1% change.

  • Adjusted Operating profit- HVAC: $720 million compared to the $589.78 million average estimate based on two analysts.

  • Adjusted Operating profit- Fire & Security: $164 million compared to the $106.42 million average estimate based on two analysts.

  • Adjusted Operating profit- Refrigeration: $99 million compared to the $104.05 million average estimate based on two analysts.

View all Key Company Metrics for Carrier Global here>>>

Shares of Carrier Global have returned -5.1% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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Zacks Investment Research