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Carrier (CARR) Boosts France Presence With Transicold Plans
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Carrier Global's (CARR - Free Report) Transicold intends to expand its service center network in France in order to deliver enhanced support and experience to customers in the country.
Notably, the latest effort is based on several changes across the service center network of Transicold in the country implemented since 2021.
Moreover, the underlined expansion includes extending the coverage of existing service networks such as Emeraude France Service, CD Froid, Azur Trucks Froid and Petracco service center.
Also, the expansion plan includes opening new service centers in Arras, Belfort, Valence, and Vitrolles by Petracco in the coming months.
With the latest move, Carrier will be able to create several jobs. Transicold has already unveiled a recruitment campaign in the country to hire 100 team members and technical staff.
Further, the move will likely aid Transicold in gaining momentum among customers by offering efficient and fast customer services. It will also strengthen Carrier’s presence in France.
The latest move is expected to aid the performance of Carrier’s Refrigeration segment in the days ahead.
Apart from the latest expansion, Carrier is also making strong endeavors to expand the offerings of this segment.
Recently, Transicold launched the XR series of engineless truck refrigeration units, including the 40XR and 50XR models. These units are designed for local and regional deliveries and offer enhanced air management, faster pulldown and more uniform temperature control compared to the previous models.
The XR series support Carrier's goal to reduce carbon footprint. With the XR series, Transicold is expected to gain traction among mid-sized and large truck owners.
In addition, Transicold improved its EverFRESH Active Controlled Atmosphere System to transport a broader range of perishable goods.
Customer Base Expansion
We believe the expansion of its Refrigeration portfolio offerings will continue to strengthen Carrier’s customer base.
Recently, Carrier Transicold's refrigeration technology was selected by JAC Motors, which equipped its first all-electric truck with Carrier Transicold's Xarios 8 refrigeration unit and power box converter to expand its sustainable offerings in France.
Further, apetito, a catering company, took 10 double-deck temperature-controlled trailers outfitted with Carrier Transicold Vector HE 19 units.
The Refrigeration segment is expected to benefit from the expanding clientele in the near term.
In the fourth quarter of 2022, the segment generated $943 million in revenues, accounting for 18.5% of net sales.
Moreover, the strong performance of the underlined segment will benefit the company’s overall performance. This is likely to instill investors’ optimism in the stock in the near term.
For 2023, Carrier expects sales of $22 billion. The Zacks Consensus Estimate for the same is pegged at $21.99 billion, indicating growth of 7.7% from the prior year.
Carrier anticipates 2023 adjusted earnings per share within the range of $2.50-$2.60. The consensus mark for the same stands at $2.55 per share, suggesting growth of 8.9 % from the previous year.
Coming to the price performance, CARR stock has gained 3.1% in the past year compared with the industry’s decline of 13.8%.
Zacks Rank & Stocks to Consider
Currently, Carrier carries a Zacks Rank #3 (Hold).
Investors interested in the broader Zacks Computer & Technology sector can consider some better-ranked stocks like Arista Networks (ANET - Free Report) , Salesforce (CRM - Free Report) and Analog Devices (ADI - Free Report) . While Salesforce sport a Zacks Rank #1 (Strong Buy), Arista Networks and Analog Devices each carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks shares have risen 28% in the past year. The long-term earnings growth rate for ANET is currently projected at 14.17%.
Salesforce shares have risen 6.6% in the past year. CRM’s long-term earnings growth rate is currently projected at 16.75%.
Analog Devices shares have rallied 17.5% in the past year. The long-term earnings growth rate for ADI is currently projected at 10.5%.
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Carrier (CARR) Boosts France Presence With Transicold Plans
Carrier Global's (CARR - Free Report) Transicold intends to expand its service center network in France in order to deliver enhanced support and experience to customers in the country.
Notably, the latest effort is based on several changes across the service center network of Transicold in the country implemented since 2021.
Moreover, the underlined expansion includes extending the coverage of existing service networks such as Emeraude France Service, CD Froid, Azur Trucks Froid and Petracco service center.
Also, the expansion plan includes opening new service centers in Arras, Belfort, Valence, and Vitrolles by Petracco in the coming months.
With the latest move, Carrier will be able to create several jobs. Transicold has already unveiled a recruitment campaign in the country to hire 100 team members and technical staff.
Further, the move will likely aid Transicold in gaining momentum among customers by offering efficient and fast customer services. It will also strengthen Carrier’s presence in France.
Carrier Global Corporation Price and Consensus
Carrier Global Corporation price-consensus-chart | Carrier Global Corporation Quote
Strengthening Refrigeration Segment
The latest move is expected to aid the performance of Carrier’s Refrigeration segment in the days ahead.
Apart from the latest expansion, Carrier is also making strong endeavors to expand the offerings of this segment.
Recently, Transicold launched the XR series of engineless truck refrigeration units, including the 40XR and 50XR models. These units are designed for local and regional deliveries and offer enhanced air management, faster pulldown and more uniform temperature control compared to the previous models.
The XR series support Carrier's goal to reduce carbon footprint. With the XR series, Transicold is expected to gain traction among mid-sized and large truck owners.
In addition, Transicold improved its EverFRESH Active Controlled Atmosphere System to transport a broader range of perishable goods.
Customer Base Expansion
We believe the expansion of its Refrigeration portfolio offerings will continue to strengthen Carrier’s customer base.
Recently, Carrier Transicold's refrigeration technology was selected by JAC Motors, which equipped its first all-electric truck with Carrier Transicold's Xarios 8 refrigeration unit and power box converter to expand its sustainable offerings in France.
Further, apetito, a catering company, took 10 double-deck temperature-controlled trailers outfitted with Carrier Transicold Vector HE 19 units.
The Refrigeration segment is expected to benefit from the expanding clientele in the near term.
In the fourth quarter of 2022, the segment generated $943 million in revenues, accounting for 18.5% of net sales.
Moreover, the strong performance of the underlined segment will benefit the company’s overall performance. This is likely to instill investors’ optimism in the stock in the near term.
For 2023, Carrier expects sales of $22 billion. The Zacks Consensus Estimate for the same is pegged at $21.99 billion, indicating growth of 7.7% from the prior year.
Carrier anticipates 2023 adjusted earnings per share within the range of $2.50-$2.60. The consensus mark for the same stands at $2.55 per share, suggesting growth of 8.9 % from the previous year.
Coming to the price performance, CARR stock has gained 3.1% in the past year compared with the industry’s decline of 13.8%.
Zacks Rank & Stocks to Consider
Currently, Carrier carries a Zacks Rank #3 (Hold).
Investors interested in the broader Zacks Computer & Technology sector can consider some better-ranked stocks like Arista Networks (ANET - Free Report) , Salesforce (CRM - Free Report) and Analog Devices (ADI - Free Report) . While Salesforce sport a Zacks Rank #1 (Strong Buy), Arista Networks and Analog Devices each carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks shares have risen 28% in the past year. The long-term earnings growth rate for ANET is currently projected at 14.17%.
Salesforce shares have risen 6.6% in the past year. CRM’s long-term earnings growth rate is currently projected at 16.75%.
Analog Devices shares have rallied 17.5% in the past year. The long-term earnings growth rate for ADI is currently projected at 10.5%.