Carrier Global Corp (NYSE:CARR) reported better-than-expected first-quarter financial results and reaffirmed FY26 adjusted EPS and sales guidance above estimates on Thursday.
Carrier Global reported quarterly earnings of 57 cents per share which beat the analyst consensus estimate of 51 cents per share. The company reported quarterly sales of $5.341 billion which beat the analyst consensus estimate of $5.008 billion.
“We started the year with better-than-expected sales performance across the portfolio,” said Carrier Chairman & CEO David Gitlin. “Orders in our global Commercial HVAC1 business increased 35%, helped by data centers which were up over 500% in the quarter. The strong double-digit sequential increase in Commercial HVAC backlog gives us the confidence to drive our sixth consecutive year of double-digit growth in this business. CSA Light Commercial and CSE Residential both delivered growth, while CSA Residential came in better than expected. I am pleased with the team’s performance in the first quarter, and we are reaffirming our full-year outlook.”
Carrier shares rose 1.1% to trade at $67.87 on Friday.
These analysts made changes to their price targets on Carrier following earnings announcement.
- Evercore ISI Group analyst Alexander Virgo maintained Carrier Global with an Outperform rating and raised the price target from $75 to $85.
- Barclays analyst Julian Mitchell maintained the stock with an Overweight rating and raised the price target from $67 to $79.
- RBC Capital analyst Deane Dray maintained Carrier Global with an Outperform and raised the price target from $71 to $81.
- Citigroup analyst Andrew Kaplowitz maintained the stock with a Buy and raised the price target from $72 to $79.
Considering buying CARR stock? Here’s what analysts think:
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