For the quarter ended September 2023, Carrier Global (CARR - Free Report) reported revenue of $5.73 billion, up 5.1% over the same period last year. EPS came in at $0.89, compared to $0.70 in the year-ago quarter.
The reported revenue represents a surprise of -2.03% over the Zacks Consensus Estimate of $5.85 billion. With the consensus EPS estimate being $0.78, the EPS surprise was +14.10%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Carrier Global performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Sales- HVAC: $4.01 billion compared to the $4.05 billion average estimate based on four analysts. The reported number represents a change of +7.3% year over year.
- Net Sales- Refrigeration: $924 million versus the four-analyst average estimate of $948.20 million. The reported number represents a year-over-year change of +0.1%.
- Net Sales- Fire & Security: $923 million compared to the $931.10 million average estimate based on four analysts. The reported number represents a change of +2% year over year.
- Net Sales- Eliminations and other: -$124 million versus the four-analyst average estimate of -$110.25 million. The reported number represents a year-over-year change of +11.7%.
- Net Sales- Service sales: $650 million versus $548.43 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +16.1% change.
- Net Sales- Product sales: $5.08 billion versus $5.26 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +3.9% change.
- Adjusted Operating profit- HVAC: $833 million compared to the $706.39 million average estimate based on four analysts.
- Adjusted Operating profit- Refrigeration: $111 million versus $125.07 million estimated by four analysts on average.
- Adjusted Operating profit- Fire & Security: $169 million versus $151.59 million estimated by four analysts on average.
- Adjusted operating profit- General Corporate Expenses and Eliminations and Other: -$28 million compared to the -$59.50 million average estimate based on two analysts.
View all Key Company Metrics for Carrier Global here>>>Shares of Carrier Global have returned -14.6% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
For the quarter ended September 2023, Carrier Global (CARR - Free Report) reported revenue of $5.73 billion, up 5.1% over the same period last year. EPS came in at $0.89, compared to $0.70 in the year-ago quarter.
The reported revenue represents a surprise of -2.03% over the Zacks Consensus Estimate of $5.85 billion. With the consensus EPS estimate being $0.78, the EPS surprise was +14.10%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Carrier Global performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Sales- HVAC: $4.01 billion compared to the $4.05 billion average estimate based on four analysts. The reported number represents a change of +7.3% year over year.
- Net Sales- Refrigeration: $924 million versus the four-analyst average estimate of $948.20 million. The reported number represents a year-over-year change of +0.1%.
- Net Sales- Fire & Security: $923 million compared to the $931.10 million average estimate based on four analysts. The reported number represents a change of +2% year over year.
- Net Sales- Eliminations and other: -$124 million versus the four-analyst average estimate of -$110.25 million. The reported number represents a year-over-year change of +11.7%.
- Net Sales- Service sales: $650 million versus $548.43 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +16.1% change.
- Net Sales- Product sales: $5.08 billion versus $5.26 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +3.9% change.
- Adjusted Operating profit- HVAC: $833 million compared to the $706.39 million average estimate based on four analysts.
- Adjusted Operating profit- Refrigeration: $111 million versus $125.07 million estimated by four analysts on average.
- Adjusted Operating profit- Fire & Security: $169 million versus $151.59 million estimated by four analysts on average.
- Adjusted operating profit- General Corporate Expenses and Eliminations and Other: -$28 million compared to the -$59.50 million average estimate based on two analysts.
View all Key Company Metrics for Carrier Global here>>>Shares of Carrier Global have returned -14.6% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
Get the latest research report on CARR - FREE