Carrier Global (NYSE:CARR) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Carrier Global (NYSE:CARR) posted its quarterly earnings results on Thursday. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.51 by $0.06, FiscalAI reports. The firm had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Carrier Global had a return on equity of 14.81% and a net margin of 5.99%.The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 earnings per share. Carrier Global updated its FY 2026 guidance to 2.800-2.800 EPS.

Here are the key takeaways from Carrier Global’s conference call:

• Orders and data-center backlog accelerated: Company orders were up 11% in Q1 (global HVAC +35%) with global data center orders >500%, and the current data‑center backlog fully covers the targeted $1.5 billion of data‑center sales this year (the company says it is targeting to exceed that number).
• Management reaffirmed its full‑year guide (≈$22B revenue, adjusted EPS ≈$2.80) while noting higher input costs from new tariffs, fuel and raw materials and announcing an additional ~2 points of pricing to be offset by supply‑chain actions and cost reductions.
• Aftermarket and digital momentum: connected devices in the field rose >25% in the quarter, the company expects a sixth consecutive year of double‑digit aftermarket growth, and transportation link subscriptions (~240k) are targeted to roughly triple over the next few years.
• Product and systems differentiation driving share and margin gains: investments in CDUs, maglev chillers, controls and the QuantumLeap integrated offering (plus the Viessmann and ZutaCore partnerships) supported strong Commercial HVAC performance—Carrier says global CHVAC sales are up 80% since the spin, backlog +130% and margins ~3x higher.
• Short‑cycle and China weaknesses persist: CSA residential movement and field inventories (down ~35% YoY) pressured absorption and margins, while CSAME saw China sales down low‑teens (RLC ~‑25%), contributing to a year‑over‑year EPS decline and segment margin headwinds.

Carrier Global Stock Performance

CARR traded up $0.57 on Friday, hitting $67.74. 7,348,556 shares of the company traded hands, compared to its average volume of 6,780,448. The company has a 50 day moving average of $59.74 and a 200-day moving average of $57.72. The company has a quick ratio of 0.85, a current ratio of 1.05 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $56.59 billion, a PE ratio of 39.61, a PEG ratio of 2.68 and a beta of 1.38. Carrier Global has a 12-month low of $50.24 and a 12-month high of $81.09.

Carrier Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Monday, May 4th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, May 4th. This represents a $0.96 annualized dividend and a yield of 1.4%. Carrier Global’s dividend payout ratio is currently 63.16%.

Institutional Trading of Carrier Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Garton & Associates Financial Advisors LLC acquired a new position in Carrier Global during the 4th quarter worth approximately $33,000. Kelleher Financial Advisors acquired a new stake in shares of Carrier Global in the 3rd quarter worth approximately $49,000. Transamerica Financial Advisors LLC grew its holdings in shares of Carrier Global by 862.9% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,011 shares of the company’s stock worth $53,000 after acquiring an additional 906 shares during the period. DV Equities LLC acquired a new stake in shares of Carrier Global in the 4th quarter worth approximately $58,000. Finally, EFG International AG acquired a new stake in shares of Carrier Global in the 4th quarter worth approximately $70,000. 91.00% of the stock is owned by hedge funds and other institutional investors.

Key Carrier Global News

Here are the key news stories impacting Carrier Global this week:

• Positive Sentiment: Q1 beat and upbeat outlook — Carrier reported adjusted EPS $0.57 vs. $0.51 consensus and revenue $5.34B vs. $5.01B estimate; management reaffirmed FY‑26 adjusted EPS $2.80 and ~$22B sales while saying backlog fully covers expected 2026 data‑center sales. These results and the guidance re‑affirmation are the main drivers lifting the stock. PR Newswire: Carrier Reports First Quarter 2026 Results
• Positive Sentiment: Data‑center and Commercial HVAC momentum — Carrier highlighted data‑center orders up over 500% and Commercial HVAC orders +35%, with total company orders +11%, signaling durable demand in higher‑margin segments. Seeking Alpha: Data‑center demand story
• Positive Sentiment: Analyst upgrades and price‑target increases — Multiple firms raised targets (examples: Evercore to $85, RBC to $81, Goldman to $80, Citi to $79, others), reinforcing bullish sentiment and providing fresh buy‑side interest. Benzinga: Analysts boost forecasts
• Positive Sentiment: Shareholder returns — Company returned about $500M in the quarter through dividends and repurchases, which supports valuation and investor confidence. PR Newswire: Capital returns
• Neutral Sentiment: Management commentary and detail — The earnings‑call transcript and slide deck provide color on product mix, backlog and timing for data‑center revenue; useful for confirming sustainability but not an immediate catalyst by itself. Seeking Alpha: Q1 call transcript
• Positive Sentiment: Insider buy — CEO David Gitlin bought shares recently, a signal some investors view as management confidence in the outlook. QuiverQuant: Insider activity
• Negative Sentiment: Cash conversion and organic trends — Operating cash flow was $79M and free cash flow was negative (~$15M) in the quarter; organic sales were down ~1% and GAAP EPS ($0.28) lagged the prior year, which could temper enthusiasm if cash conversion and organic growth don’t improve. PR Newswire: Financial details

Analyst Upgrades and Downgrades

Several research firms have issued reports on CARR. Barclays raised their target price on Carrier Global from $67.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday. BNP Paribas Exane started coverage on Carrier Global in a research report on Tuesday, April 14th. They set a “neutral” rating and a $62.00 price target for the company. UBS Group lowered their price target on Carrier Global from $73.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, January 5th. Weiss Ratings upgraded Carrier Global from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Finally, Mizuho lifted their target price on Carrier Global from $67.00 to $75.00 in a report on Friday. Thirteen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.39.

Carrier Global Company Profile

Carrier Global Corporation is a leading global provider of heating, ventilation and air conditioning (HVAC), refrigeration, fire and security, and building automation solutions. The company designs, manufactures and sells a broad portfolio of products that includes air conditioners, furnaces, heat pumps, chillers, rooftop units, commercial refrigeration systems, fire and smoke detection and suppression systems, security sensors and access controls, and a range of building controls and analytics software.