Carrier Global Corporation’s ( CARR Quick Quote CARR - Free Report) subsidiary Marioff has been consistently expanding the fire and security segment as well as fire protection systems offerings.
This is evident from the fact that the company recently unveiled the new core of land fire protection systems, namely the Marioff HI-FOG Land Pump Unit (LPU).
HI-FOG Land Pump is compact, cost-efficient and easy to maintain. Additionally, it can be used with HI-FOG 3000 sprinklers for providing a highly-efficient water mist solution.
Further, the Land Pump has received approval from FM and VdS for land applications. This shows the robustness of the device.
More Marioff Efforts
The recent solution has added strength to Marioff’s portfolio offerings. The company has been gaining momentum with reliable and efficient solutions including water mist, fire protection for marine, and lifecycle services.
Additionally, growing product certification approvals remain noteworthy. The company recently received an extended FM Approval for Marioff HI-FOG high-pressure water mist fire protection system with an electric pump unit. The approval helped Marioff deliver fire protection for combustion turbines and machinery with enclosures up to 2300 cube-meters.
Further, strength in its portfolio solutions has been aiding the company to expand the customer base. Last year, Marioff inked an agreement with Rauma Marine Constructions for providing HI-FOG fire protection systems to the Finland navy.
Also, Marioff extended its BluEdge Elite service agreement with Carnival Corporation & PLC to provide a comprehensive preventive maintenance program for the latter’s fleet.
Strength in Fire & Security Segment
The introduction of the Marioff HI-FOG Land Pump Unit has added strength to Carrier’s Fire and Security segment.
Further, the segment has been benefiting from the company’s other subsidiaries of the same segment, namely Det-Tronics, Kidde, Edwards, Onity, Fireye, Supra and others.
Recently, Carrier acquired BrokerBay to make it part of Supra for offering advanced digital solutions to North American real estate agents. This remains a positive for segmental growth.
In addition, Det-Tronics introduced the BluEdge service platform that offers various services to customers who operate high-hazard petroleum, oil and gas facilities.
Thus, this segment has become an integral part of the company, which generated $1.4 billion in revenues, accounting for 27.9% of total fourth-quarter net sales and increasing 2.4% on a year-over-year basis.
Zacks Rank & Stocks to Consider
Currently, Carrier carries a Zacks Rank #3 (Hold).
Investors interested in the broader technology sector can consider stocks like
Apple ( AAPL Quick Quote AAPL - Free Report) , Mimecast Limited and Teradata ( TDC Quick Quote TDC - Free Report) . While Apple and Mimecast sport a Zacks Rank #2 (Buy), Teradata carries a Zacks Rank #1 (Strong Buy). You can see . the complete list of today’s Zacks #1 Rank stocks here
Apple has gained 31.8% in the past year. The long-term earnings growth rate for AAPL is currently projected at 12.5%.
Mimecast Limited has gained 96.3% in the past year. MIME’s long-term earnings growth rate is currently projected at 15%.
Teradata has gained 15.7% in the past year. The long-term earnings growth rate for TDC is currently projected at 19.5%.