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Carrier (CARR) to Report Q1 Earnings: What's in the Cards?
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Carrier Global Corporation (CARR - Free Report) is scheduled to report its first-quarter 2023 results on Apr 27.
The Zacks Consensus Estimate for first-quarter sales is pegged at $5 billion, indicating a rise of 7.5% from the year-ago quarter’s reported value.
The Zacks Consensus Estimate for earnings is pegged at 49 cents per share, indicating a decrease of 9.3% from the year-ago quarter’s reported figure.
Carrier’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and matched the same on the other occasion, the earnings surprise being 8.47%, on average.
Carrier’s growing momentum in the Heating, Ventilating and Air Conditioning (HVAC) segment is expected to have contributed well to top-line growth in the first quarter.
Increasing demand for CARR’s healthy, safe, sustainable & intelligent building offerings, and cold chain solutions is expected to have benefited the performance of the HVAC segment.
This apart, the company strong efforts toward expanding its HVAC offerings might have had a positive impact.
In the first quarter, the company expanded its Global Comfort Solutions business with the launch of Toshiba Air Conditioning’s new mini VRF system, R32 MiNi-SMMS.
Another HVAC brand namely Automated Logic unveiled WebCTRL, which is a building automation system.
Further, Carrier added a 515B lower GWP refrigerant option to AquaEdge 19MV oil-free water-cooled chiller.
All these efforts are expected to have contributed well to the first-quarter performance of the HVAC segment.
Meanwhile, the rollout of NetBox version 5.6, an advanced version of a browser-based, access control and event monitoring system, by LenelS2, is likely to have contributed to the Fire & Security segment’s performance in the quarter under review.
Further, the Chubb divestiture is expected to have benefited the segment during the first quarter.
This apart, Carrier’s growing momentum across the core, aftermarket and digital offerings is expected to have benefited its first-quarter performance.
Solid traction across entailed system-level solutions, including hardware, controls and aftermarket, is expected to have contributed well to overall top-line growth in the quarter under review.
However, weakness in the Refrigeration segment might get reflected in the upcoming results. Softness in container and commercial refrigeration is also expected to have acted as a headwind for the segment.
Our proven model predicts an earnings beat for Carrier Global 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 Global has an Earnings ESP of +2.19% and a Zacks Rank #3
Other Stocks to Consider
Here are some stocks worth considering as our model shows that these also have the right combination of elements to beat on earnings this season.
DOCN is scheduled to release first-quarter 2023 results on May 9. The Zacks Consensus Estimate for DOCN’s earnings is pegged at 29 cents per share, suggesting a jump from 7 cents per share reported in the prior-year quarter.
BILL Holdings, Inc. (BILL - Free Report) has an Earnings ESP of +1.89% and a Zacks Rank #3 at present.
BILL Holdings is set to report third-quarter fiscal 2023 results on May 4. The Zacks Consensus Estimate for BILL’s earnings is pegged at 24 cents per share. The company incurred a loss of 8 cents per share in the year-ago quarter.
Ceridian HCM has an Earnings ESP of +9.09% and a Zacks Rank #3 at present.
CDAY is scheduled to report first-quarter 2023 results on May 3. The Zacks Consensus Estimate for CDAY’s earnings is pegged at 33 cents per share, suggesting an increase of 153.8% from the prior-year quarter’s reported figure.
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Carrier (CARR) to Report Q1 Earnings: What's in the Cards?
Carrier Global Corporation (CARR - Free Report) is scheduled to report its first-quarter 2023 results on Apr 27.
The Zacks Consensus Estimate for first-quarter sales is pegged at $5 billion, indicating a rise of 7.5% from the year-ago quarter’s reported value.
The Zacks Consensus Estimate for earnings is pegged at 49 cents per share, indicating a decrease of 9.3% from the year-ago quarter’s reported figure.
Carrier’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and matched the same on the other occasion, the earnings surprise being 8.47%, on average.
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 in the Heating, Ventilating and Air Conditioning (HVAC) segment is expected to have contributed well to top-line growth in the first quarter.
Increasing demand for CARR’s healthy, safe, sustainable & intelligent building offerings, and cold chain solutions is expected to have benefited the performance of the HVAC segment.
This apart, the company strong efforts toward expanding its HVAC offerings might have had a positive impact.
In the first quarter, the company expanded its Global Comfort Solutions business with the launch of Toshiba Air Conditioning’s new mini VRF system, R32 MiNi-SMMS.
Another HVAC brand namely Automated Logic unveiled WebCTRL, which is a building automation system.
Further, Carrier added a 515B lower GWP refrigerant option to AquaEdge 19MV oil-free water-cooled chiller.
All these efforts are expected to have contributed well to the first-quarter performance of the HVAC segment.
Meanwhile, the rollout of NetBox version 5.6, an advanced version of a browser-based, access control and event monitoring system, by LenelS2, is likely to have contributed to the Fire & Security segment’s performance in the quarter under review.
Further, the Chubb divestiture is expected to have benefited the segment during the first quarter.
This apart, Carrier’s growing momentum across the core, aftermarket and digital offerings is expected to have benefited its first-quarter performance.
Solid traction across entailed system-level solutions, including hardware, controls and aftermarket, is expected to have contributed well to overall top-line growth in the quarter under review.
However, weakness in the Refrigeration segment might get reflected in the upcoming results. Softness in container and commercial refrigeration is also expected to have acted as a headwind for the segment.
Further, widespread supply-chain disruptions might impact results negatively.
What Our Model Says
Our proven model predicts an earnings beat for Carrier Global 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 Global has an Earnings ESP of +2.19% and a Zacks Rank #3
Other Stocks to Consider
Here are some stocks worth considering as our model shows that these also have the right combination of elements to beat on earnings this season.
DigitalOcean (DOCN - Free Report) has an Earnings ESP of +2.30% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
DOCN is scheduled to release first-quarter 2023 results on May 9. The Zacks Consensus Estimate for DOCN’s earnings is pegged at 29 cents per share, suggesting a jump from 7 cents per share reported in the prior-year quarter.
BILL Holdings, Inc. (BILL - Free Report) has an Earnings ESP of +1.89% and a Zacks Rank #3 at present.
BILL Holdings is set to report third-quarter fiscal 2023 results on May 4. The Zacks Consensus Estimate for BILL’s earnings is pegged at 24 cents per share. The company incurred a loss of 8 cents per share in the year-ago quarter.
Ceridian HCM has an Earnings ESP of +9.09% and a Zacks Rank #3 at present.
CDAY is scheduled to report first-quarter 2023 results on May 3. The Zacks Consensus Estimate for CDAY’s earnings is pegged at 33 cents per share, suggesting an increase of 153.8% from the prior-year quarter’s reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.