Carrier Global (NYSE:CARR) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Carrier Global (NYSE:CARR) released its quarterly earnings results on Thursday. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02), FiscalAI reports. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $5.05 billion. Carrier Global had a net margin of 18.05% and a return on equity of 16.65%. The company’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 EPS. Carrier Global updated its FY 2026 guidance to 2.800-2.800 EPS.

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

• Short‑cycle weakness remains a material headwind — CSA residential volumes plunged (~40% in Q4) and light commercial fell ~20%, management expects industry units down ~10–15% in 2026, leading to under‑absorption and margin pressure despite reduced channel inventories (~30% lower).
• Long‑cycle and aftermarket businesses are driving growth — commercial HVAC posted another year of double‑digit growth, aftermarket is up double digits with >70,000 chillers connected, and the data center business reached ~ $1 billion with Q4 orders >5x year‑ago and projected ~50% data center revenue growth in 2026.
• Cost actions and capital returns support profitability — decisive 2025 cost measures are expected to deliver > $100 million of savings in 2026, management cites ~ $400 million of productivity tailwinds, plans ~ $1.5 billion of buybacks, and guides adjusted operating profit of ~ $3.4 billion and adjusted EPS around $2.80.
• Near‑term cadence is back‑loaded and Q1 looks weak — company expects Q1 revenue ~ $5 billion with organic down high‑single digits (CSA residential down >20%), Q1 adjusted EPS ~ $0.50 (benefitting from a discrete tax item), and full‑year growth to be second‑half weighted.

Carrier Global Trading Down 0.8%

Shares of CARR stock traded down $0.49 on Thursday, reaching $63.06. 15,045,706 shares of the stock were exchanged, compared to its average volume of 8,522,869. The stock has a 50 day moving average price of $55.08 and a 200 day moving average price of $59.50. Carrier Global has a one year low of $50.24 and a one year high of $81.09. The stock has a market cap of $53.11 billion, a PE ratio of 14.11, a P/E/G ratio of 2.46 and a beta of 1.33. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.14 and a quick ratio of 0.75.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Stockholders of record on Tuesday, January 20th will be given a dividend of $0.24 per share. This is an increase from Carrier Global’s previous quarterly dividend of $0.23. The ex-dividend date is Tuesday, January 20th. This represents a $0.96 annualized dividend and a dividend yield of 1.5%. Carrier Global’s dividend payout ratio (DPR) is presently 21.48%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CARR. Morgan Stanley set a $55.00 target price on shares of Carrier Global in a research report on Thursday, January 8th. Royal Bank Of Canada cut their price target on Carrier Global from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, December 5th. Zacks Research upgraded Carrier Global from a “strong sell” rating to a “hold” rating in a research note on Friday, November 21st. Oppenheimer reiterated a “market perform” rating on shares of Carrier Global in a research report on Wednesday, October 29th. Finally, Citigroup cut their price objective on Carrier Global from $71.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, January 12th. Ten research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.06.

Institutional Trading of Carrier Global

Several large investors have recently modified their holdings of CARR. Financial Engines Advisors L.L.C. raised its stake in shares of Carrier Global by 5.7% during the third quarter. Financial Engines Advisors L.L.C. now owns 4,973 shares of the company’s stock valued at $297,000 after acquiring an additional 270 shares during the last quarter. Orion Porfolio Solutions LLC increased its position in Carrier Global by 0.8% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 37,188 shares of the company’s stock valued at $2,722,000 after purchasing an additional 286 shares during the period. Gallagher Fiduciary Advisors LLC raised its holdings in Carrier Global by 8.6% in the second quarter. Gallagher Fiduciary Advisors LLC now owns 5,281 shares of the company’s stock worth $386,000 after buying an additional 420 shares during the last quarter. Norinchukin Bank The grew its holdings in shares of Carrier Global by 1.0% in the third quarter. Norinchukin Bank The now owns 46,151 shares of the company’s stock worth $2,755,000 after acquiring an additional 459 shares during the period. Finally, Northeast Financial Consultants Inc grew its position in shares of Carrier Global by 12.3% during the second quarter. Northeast Financial Consultants Inc now owns 4,270 shares of the company’s stock worth $313,000 after purchasing an additional 469 shares in the last quarter. 91.00% of the stock is owned by institutional investors and hedge funds.

Carrier Global announced that its Board of Directors has initiated a share repurchase program on Tuesday, October 28th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to buy up to 10.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

About Carrier Global

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.