Carrier Global Corporation's stock soared 5.29% during intraday trading on Thursday, following the release of its first-quarter 2026 financial results.
The company reported quarterly adjusted earnings of $0.57 per share, beating analyst estimates of $0.51, and sales of $5.341 billion, surpassing expectations of $5.008 billion. Carrier Global also reaffirmed its full-year 2026 outlook for both adjusted earnings and sales, providing confidence to investors about its growth trajectory.
A key driver of the better-than-expected performance was a more than six-fold increase in revenue from data-center cooling systems, which generated 35% growth in quarterly commercial HVAC revenue. This strong demand from data centers, which require extensive cooling for high-performance AI chips, helped offset softer demand in residential air-conditioning markets.