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Carrier (CARR) to Report Q3 Earnings: What's in the Cards?
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Carrier Global Corporation (CARR - Free Report) is scheduled to report third-quarter 2022 results on Oct 27.
The Zacks Consensus Estimate for third-quarter earnings is pegged at 65 cents per share, suggesting a decrease of 8.45% from the figure reported in the year-ago period. The estimated figure has been unchanged over the past 30 days.
The consensus mark for revenues is pegged at $5.44 billion, implying a 1.82% increase from the figure reported in the year-ago quarter.
Carrier beat on earnings in all the trailing four quarters, the average being 12.4%.
Carrier’s growing momentum across the core, aftermarket and digital offerings is expected to have benefited its third-quarter performance.
Carrier is witnessing key wins in entailed system level solutions, including hardware, controls and aftermarket. This is expected to have contributed well to the top line in the quarter under review.
Strength in the HVAC segment and increasing demand for CARR’s healthy, safe, sustainable & intelligent building offerings, and cold chain solutions might have continued supporting its performance in the to-be-reported quarter. The Zacks Consensus Estimate for HVAC revenues of $3.56 billion implies a rise of 16.4% from the prior-year quarter’s reading.
Solid demand for the Breeze platform among new national account customers is expected to have benefited Carrier’s residential and light commercial businesses in the underlined quarter.
Constant momentum across transport and commercial refrigeration is likely to have augmented Refrigeration revenues in the quarter to be reported. The Zacks Estimate for the underlined segment’s revenues is pegged at $1.09 billion in the third-quarter, suggesting growth of 7.5% from the year-ago quarter’s level.
However, uncertainties related to the coronavirus pandemic might get reflected in the upcoming quarterly results. The pandemic-induced fresh lockdowns in China are expected to have remained a headwind.
Also, softness in the Fire & Security segment is likely to have negatively impacted the performance in the quarter under review. The Zacks Estimate suggests Fire & Security revenues of $954 million, implying a 30.7% decline from the prior-year quarter’s actuals.
Supply-chain constraints, the ongoing geopolitical tensions and mounting expenses are expected to have hurt CARR’s profitability in the third quarter.
What Our Model Says
Our proven model predicts an earnings beat for Carrier this time around. 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. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Carrier has an Earnings ESP of +0.96% and a Zacks Rank #3 at present.
Other Stocks to Consider
Here are some other stocks worth considering, as our model shows that these too have the right combination of elements to beat on earnings this season.
Fortinet is set to report third-quarter 2022 results on Nov 2. The Zacks Consensus Estimate for FTNT’s earnings is pegged at 27 cents per share, suggesting an increase of 35% from the prior-year period’s reported figure.
The Trade Desk (TTD - Free Report) has an Earnings ESP of +2.13% and a Zacks Rank of 2 at present.
The Trade Desk is scheduled to release third-quarter 2022 results on Nov 14. The Zacks Consensus Estimate for TTD’s earnings is pegged at 24 cents per share, suggesting an increase of 33.3% from the prior-year quarter’s reported figure.
ZoomInfo Technologies (ZI - Free Report) has an Earnings ESP of +1.27% and a Zacks Rank of 2 at present.
ZoomInfo Technologies is scheduled to release third-quarter 2022 results on Nov 1. The Zacks Consensus Estimate for ZI’s earnings is pegged at 20 cents per share, suggesting an increase of 53.9% from the prior-year quarter’s reported figure.
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Carrier (CARR) to Report Q3 Earnings: What's in the Cards?
Carrier Global Corporation (CARR - Free Report) is scheduled to report third-quarter 2022 results on Oct 27.
The Zacks Consensus Estimate for third-quarter earnings is pegged at 65 cents per share, suggesting a decrease of 8.45% from the figure reported in the year-ago period. The estimated figure has been unchanged over the past 30 days.
The consensus mark for revenues is pegged at $5.44 billion, implying a 1.82% increase from the figure reported in the year-ago quarter.
Carrier beat on earnings in all the trailing four quarters, the average being 12.4%.
Carrier Global Corporation Price and EPS Surprise
Carrier Global Corporation price-eps-surprise | Carrier Global Corporation Quote
Key Factors to Note
Carrier’s growing momentum across the core, aftermarket and digital offerings is expected to have benefited its third-quarter performance.
Carrier is witnessing key wins in entailed system level solutions, including hardware, controls and aftermarket. This is expected to have contributed well to the top line in the quarter under review.
Strength in the HVAC segment and increasing demand for CARR’s healthy, safe, sustainable & intelligent building offerings, and cold chain solutions might have continued supporting its performance in the to-be-reported quarter. The Zacks Consensus Estimate for HVAC revenues of $3.56 billion implies a rise of 16.4% from the prior-year quarter’s reading.
Solid demand for the Breeze platform among new national account customers is expected to have benefited Carrier’s residential and light commercial businesses in the underlined quarter.
Constant momentum across transport and commercial refrigeration is likely to have augmented Refrigeration revenues in the quarter to be reported. The Zacks Estimate for the underlined segment’s revenues is pegged at $1.09 billion in the third-quarter, suggesting growth of 7.5% from the year-ago quarter’s level.
However, uncertainties related to the coronavirus pandemic might get reflected in the upcoming quarterly results. The pandemic-induced fresh lockdowns in China are expected to have remained a headwind.
Also, softness in the Fire & Security segment is likely to have negatively impacted the performance in the quarter under review. The Zacks Estimate suggests Fire & Security revenues of $954 million, implying a 30.7% decline from the prior-year quarter’s actuals.
Supply-chain constraints, the ongoing geopolitical tensions and mounting expenses are expected to have hurt CARR’s profitability in the third quarter.
What Our Model Says
Our proven model predicts an earnings beat for Carrier this time around. 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. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Carrier has an Earnings ESP of +0.96% and a Zacks Rank #3 at present.
Other Stocks to Consider
Here are some other stocks worth considering, as our model shows that these too have the right combination of elements to beat on earnings this season.
Fortinet (FTNT - Free Report) has an Earnings ESP of +0.92% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Fortinet is set to report third-quarter 2022 results on Nov 2. The Zacks Consensus Estimate for FTNT’s earnings is pegged at 27 cents per share, suggesting an increase of 35% from the prior-year period’s reported figure.
The Trade Desk (TTD - Free Report) has an Earnings ESP of +2.13% and a Zacks Rank of 2 at present.
The Trade Desk is scheduled to release third-quarter 2022 results on Nov 14. The Zacks Consensus Estimate for TTD’s earnings is pegged at 24 cents per share, suggesting an increase of 33.3% from the prior-year quarter’s reported figure.
ZoomInfo Technologies (ZI - Free Report) has an Earnings ESP of +1.27% and a Zacks Rank of 2 at present.
ZoomInfo Technologies is scheduled to release third-quarter 2022 results on Nov 1. The Zacks Consensus Estimate for ZI’s earnings is pegged at 20 cents per share, suggesting an increase of 53.9% from the prior-year quarter’s reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.