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CARR $62.78 -0.90%
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CARR · CARRIER GLOBAL Corp

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$62.78 -0.57 (-0.90%) At close · Aug 14
Market Cap
$52.14B
Shares
830.58M
All earnings calls

Earnings call · FY2026 Q1

CARRIER GLOBAL Corp Q1 FY2026 Earnings Call

CARRIER GLOBAL Corp Q1 FY2026 Earnings Call

Concluded Apr 30, 2026 Audio replay
Apr 30, 2026 1:00:35 0 turns
Period
FY2026 Q1
Runtime
1:00:35
Sources
4 artifacts
8-K 10-Q

Executive readout · one minute

What matters this quarter

Carrier's Q1 2026 results beat expectations on EPS and free cash flow, with data center orders up over 500% and global Commercial HVAC orders up 35%, while GAAP operating profit fell 59% and organic sales declined 1%. The company reaffirmed its full-year outlook and announced an additional two points of pricing to offset tariff and commodity headwinds.

Data center momentum 56 Residential HVAC demand 41 Commercial HVAC strength 35 Tariffs and pricing offset 34 Aftermarket growth 30 Product differentiation 21

Management tone

Positive

Net tone +42 · low hedging

Grounding quotes
  • “financial results that exceeded our expectations”
  • “I am pleased with the better-than-expected start to this year, but with just one quarter behind us and still a lot of macro uncertainty, we are reaffirming our full year guide”
  • “We have to assume it won't change and plan accordingly”
  • “with just one quarter behind us and still a lot of macro uncertainty”

Forward guidance

1 guided metrics

Management's latest ranges and targets are included below.

Research coverage

4 live sources

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Revenue $5.34B +2.4% YoY
Diluted EPS $0.28 -40.4% YoY
Net income $238.00M -42.2% YoY

Research materials

Open the source you need; every reader stays inside this workspace.

8-K earnings release Filed Apr 30, 2026 10-Q report Filed Apr 30, 2026 Company webcastOpen the original investor-relations page

Key takeaways

What improved, and what deserves a closer read.

↑ Constructive signals

  • Total company orders up 11%; global Commercial HVAC orders up 35%, including CSA Commercial HVAC up over 80%
  • Data center orders up over 500%, with current backlog fully covering expected $1.5 billion of 2026 data center sales
  • Adjusted EPS of $0.57 and free cash flow both better than expected; returned ~$500 million to shareholders via dividends and buybacks
  • CSA Light Commercial up nearly 10% on share gains and new hybrid fuel rooftop units; strong European heat pump demand amid favorable gas-to-electricity ratio
  • Expecting sixth consecutive year of double-digit Commercial HVAC growth; Lynx subscriptions near 240,000 units targeted to triple in coming years
  • Announced additional two points of global pricing to offset tariff, fuel and raw material headwinds dollar for dollar

↓ Risks & pressure points

  • GAAP operating profit declined 59% to $259 million; adjusted operating profit down 30% on lower CSA Residential sales and continued China RLC headwinds
  • Organic sales declined 1%; GAAP EPS from continuing operations of $0.28 was down 40% year-over-year
  • CSA segment operating margin fell 730 bps to 14.9%; net sales declined 3% with Residential down ~12%
  • Free cash flow was negative $15 million in the quarter
  • Raising prices broadly, including high single-digit percent on CSA RLC, to counter Section 232 and commodity inflation with elasticity risk
  • Full-year guidance reaffirmed despite increased input cost headwinds from tariffs, fuel and raw materials; uncertainty around Section 232 exemptions persists

Key moments

Jump directly to management's words in the synchronized transcript.

“Company orders in 1Q were up 11% led by global CHVAC up 35%, including CSA commercial HVAC up over 80%. Global data center orders were up over 500%, reflecting continued customer demand for our differentiated solutions.” David Gitlin, CEO
“We expect to offset these headwinds dollar for dollar through supply chain actions, cost reduction and increased pricing. On the latter, we now expect to realize an additional two points of pricing globally this year. I am pleased with the better-than-expected start to this year, but with just one quarter behind us and still a lot of macro uncertainty, we are reaffirming our full year guide.” David Gitlin, CEO

Forward guidance

From the 8-K filed Apr 30, 2026.

Metric Guided
Sales table
Full-Year 2026
 $22B

Quarter detail

How the reported period landed and where the business moved.

Revenue · segments

Climate Solutions Americas Segment$2.50B -2.8% YoY
Climate Solutions Europe Segment$1.29B +10.6% YoY
Climate Solutions CSAME Segment$834.00M +1% YoY
Climate Solutions Transportation Segment$713.00M +9.5% YoY

Capital returned

Buybacks
$306.00M
Dividend / share
$0.24
Full-screen source Call document

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