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Carrier Global (CARR) to Report Q1 Earnings: What's in Store?
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Carrier Global (CARR - Free Report) is set to report first-quarter 2021 results on Apr 29.
The Zacks Consensus Estimate for first-quarter earnings stayed at 38 cents per share over the past 30 days, suggesting growth of 8.6% from the figure reported in the year-ago quarter.
The consensus mark for revenues is pegged at $4.40 billion, implying 13.1% growth from the figure reported in the year-ago quarter.
Notably, Carrier beat on earnings in three of the trailing four quarters, missing the same in one, the average beat being 32.5%.
Let’s see how things are shaping up for the upcoming announcement.
Factors to Consider
Carrier Global’s first-quarter 2021 top-line growth is expected to have benefited from strong demand for residential HVAC, partially offset by weakness in Commercial HVAC sales.
In the refrigeration segment, sales are expected to benefit from higher order activity in North American truck/trailer and Europe business segments. Improved container order activity is expected to have driven top-line growth.
Commercial refrigeration sales are expected to have benefited from pent-up demand in the to-be-reported quarter. Additionally, the company’s newly launched cold chain program is expected to have gained user base in the reported quarter.
Moreover, solid demand for Air Purifiers required for improving indoor air quality has been a key catalyst.
Further, the Carrier 700 program is expected to have boosted profitability through cost savings.
Nonetheless, a sluggish fire & safety solutions business is a headwind. First-quarter profitability is also expected to suffer from currency-related headwinds.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Carrier Global has an Earnings ESP of -1.77% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few other companies worth considering as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
CDW Corporation (CDW - Free Report) has an Earnings ESP of +0.51% and a Zacks Rank #2.
Citrix Systems has an Earnings ESP of +0.15% and a Zacks Rank #2.
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Carrier Global (CARR) to Report Q1 Earnings: What's in Store?
Carrier Global (CARR - Free Report) is set to report first-quarter 2021 results on Apr 29.
The Zacks Consensus Estimate for first-quarter earnings stayed at 38 cents per share over the past 30 days, suggesting growth of 8.6% from the figure reported in the year-ago quarter.
The consensus mark for revenues is pegged at $4.40 billion, implying 13.1% growth from the figure reported in the year-ago quarter.
Notably, Carrier beat on earnings in three of the trailing four quarters, missing the same in one, the average beat being 32.5%.
Carrier Global Corporation Price and EPS Surprise
Carrier Global Corporation price-eps-surprise | Carrier Global Corporation Quote
Let’s see how things are shaping up for the upcoming announcement.
Factors to Consider
Carrier Global’s first-quarter 2021 top-line growth is expected to have benefited from strong demand for residential HVAC, partially offset by weakness in Commercial HVAC sales.
In the refrigeration segment, sales are expected to benefit from higher order activity in North American truck/trailer and Europe business segments. Improved container order activity is expected to have driven top-line growth.
Commercial refrigeration sales are expected to have benefited from pent-up demand in the to-be-reported quarter. Additionally, the company’s newly launched cold chain program is expected to have gained user base in the reported quarter.
Moreover, solid demand for Air Purifiers required for improving indoor air quality has been a key catalyst.
Further, the Carrier 700 program is expected to have boosted profitability through cost savings.
Nonetheless, a sluggish fire & safety solutions business is a headwind. First-quarter profitability is also expected to suffer from currency-related headwinds.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Carrier Global has an Earnings ESP of -1.77% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few other companies worth considering as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Etsy (ETSY - Free Report) has an Earnings ESP of +1.19% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
CDW Corporation (CDW - Free Report) has an Earnings ESP of +0.51% and a Zacks Rank #2.
Citrix Systems has an Earnings ESP of +0.15% and a Zacks Rank #2.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
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