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Carrier's (CARR) Clientele Expands With Ocean Network Express
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Carrier Global (CARR - Free Report) is constantly gaining customer momentum on the back of its robust product offerings.
Recently, Carrier Transicold’s Lynx Fleet solution was selected by Ocean Network Express (ONE), which testifies the aforesaid fact.
Notably, ONE strives to enhance its refrigerated container fleet with the Lynx Fleet solution. It is deploying the solution into its existing fleet of Carrier refrigerated containers.
More precisely, the Lynx Fleet solution will be installed with its Reefer Health feature, which offers added visibility on the location, movement and temperature of individual containers on a centralized data stream.
With Lynx Fleet solution, ONE aims at boosting fleet uptime and optimization and reducing cargo spoilage risk.
We note that the latest move by ONE has added strength to Carrier’s overall customer base.
The selection of Lynx Fleet solution by ONE reflects the reliability and strength of Carrier’s refrigeration solutions.
We believe Carrier’s strong efforts to expand its refrigeration solutions portfolio will continue to aid it in bolstering its customer base further.
Recently, Carrier Transicold unveiled a range of electric and sustainable temperature-controlled transport units at the Brisbane Truck Show 2023. The introduction of the Vector eCool, Syberia eCool, Eco-Drive 30T, Xarios 6, and Vector HE 17 systems remains noteworthy.
Further, it announced the availability of fleet protection from the costs of premature battery failure in transport refrigeration units on its BluEdge service platform.
Additionally, Transicold introduced the Vector S15 temperature-controlled caravan unit, which delivers the performance and reliability expected from Transicold's Vector series while assisting customers in lowering their operational expenses and carbon footprint.
Transicold also unveiled two single-temperature electric truck refrigeration units as the foundation of its new Supra eCool line offering, including features such as efficient zero-emissions performance, maximum range and high refrigeration capacity, reduced service requirements and more.
Growing Customer Momentum
The supermarket chain Waitrose & Partners recently revealed its substantial progress with the help of Carrier Transicold’s Neos 100 units, which were installed in its seven electric temperature-controlled vans.
Furthermore, Pacific International Lines recently announced the successful transportation of its first shipment of avocados from Kenya to Brunei with the support of Transicold’s EverFRESH CA system.
We believe the strength of the refrigeration segment of Carrier will drive its client base further. It will eventually benefit the company’s overall performance, instilling investors’ optimism in the days ahead.
In first-quarter 2023, the refrigeration segment reported revenues of $898 million, which accounted for 17% of net sales. Further, the segment recorded an adjusted operating margin of 12.4%, which expanded 90 basis points year over year.
For 2023, Carrier expects sales of $22 billion. The Zacks Consensus Estimate for the same is pegged at $22.15 billion, indicating growth of 8.5% from the year-ago reported figure.
Notably, CARR has gained 19.06% in the year-to-date period, outperforming the industry’s rally of 13.09%
Zacks Rank & Stocks to Consider
Currently, Carrier carries a Zacks Rank #3 (Hold).
Image: Bigstock
Carrier's (CARR) Clientele Expands With Ocean Network Express
Carrier Global (CARR - Free Report) is constantly gaining customer momentum on the back of its robust product offerings.
Recently, Carrier Transicold’s Lynx Fleet solution was selected by Ocean Network Express (ONE), which testifies the aforesaid fact.
Notably, ONE strives to enhance its refrigerated container fleet with the Lynx Fleet solution. It is deploying the solution into its existing fleet of Carrier refrigerated containers.
More precisely, the Lynx Fleet solution will be installed with its Reefer Health feature, which offers added visibility on the location, movement and temperature of individual containers on a centralized data stream.
With Lynx Fleet solution, ONE aims at boosting fleet uptime and optimization and reducing cargo spoilage risk.
We note that the latest move by ONE has added strength to Carrier’s overall customer base.
Carrier Global Corporation Price and Consensus
Carrier Global Corporation price-consensus-chart | Carrier Global Corporation Quote
Expanding Refrigeration Portfolio
The selection of Lynx Fleet solution by ONE reflects the reliability and strength of Carrier’s refrigeration solutions.
We believe Carrier’s strong efforts to expand its refrigeration solutions portfolio will continue to aid it in bolstering its customer base further.
Recently, Carrier Transicold unveiled a range of electric and sustainable temperature-controlled transport units at the Brisbane Truck Show 2023. The introduction of the Vector eCool, Syberia eCool, Eco-Drive 30T, Xarios 6, and Vector HE 17 systems remains noteworthy.
Further, it announced the availability of fleet protection from the costs of premature battery failure in transport refrigeration units on its BluEdge service platform.
Additionally, Transicold introduced the Vector S15 temperature-controlled caravan unit, which delivers the performance and reliability expected from Transicold's Vector series while assisting customers in lowering their operational expenses and carbon footprint.
Transicold also unveiled two single-temperature electric truck refrigeration units as the foundation of its new Supra eCool line offering, including features such as efficient zero-emissions performance, maximum range and high refrigeration capacity, reduced service requirements and more.
Growing Customer Momentum
The supermarket chain Waitrose & Partners recently revealed its substantial progress with the help of Carrier Transicold’s Neos 100 units, which were installed in its seven electric temperature-controlled vans.
Furthermore, Pacific International Lines recently announced the successful transportation of its first shipment of avocados from Kenya to Brunei with the support of Transicold’s EverFRESH CA system.
We believe the strength of the refrigeration segment of Carrier will drive its client base further. It will eventually benefit the company’s overall performance, instilling investors’ optimism in the days ahead.
In first-quarter 2023, the refrigeration segment reported revenues of $898 million, which accounted for 17% of net sales. Further, the segment recorded an adjusted operating margin of 12.4%, which expanded 90 basis points year over year.
For 2023, Carrier expects sales of $22 billion. The Zacks Consensus Estimate for the same is pegged at $22.15 billion, indicating growth of 8.5% from the year-ago reported figure.
Notably, CARR has gained 19.06% in the year-to-date period, outperforming the industry’s rally of 13.09%
Zacks Rank & Stocks to Consider
Currently, Carrier carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Akamai Technologies (AKAM - Free Report) , AvidXchange (AVDX - Free Report) and Baidu (BIDU - Free Report) . Akamai Technologies sports a Zacks Rank #1 (Strong Buy), while AvidXchange and Baidu carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Akamai shares have gained 5.6% in the year-to-date period. The long-term earnings growth rate for AKAM is currently projected at 10%.
AvidXchange shares have increased 6% in the year-to-date period. The long-term earnings growth rate for AVDX is currently projected at 22.90%.
Baidu shares have gained 24% in the year-to-date period. Its long-term earnings growth rate is presently projected at 48%.