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Carrier Global (CARR) Reports Q4 Earnings: What Key Metrics Have to Say

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For the quarter ended December 2023, Carrier Global (CARR - Free Report) reported revenue of $5.1 billion, down 0.1% over the same period last year. EPS came in at $0.53, compared to $0.40 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $5.25 billion, representing a surprise of -2.82%. The company delivered an EPS surprise of +3.92%, with the consensus EPS estimate being $0.51.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Carrier Global performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net Sales- HVAC: $3.29 billion compared to the $3.48 billion average estimate based on five analysts. The reported number represents a change of -0.7% year over year.
  • Net Sales- Eliminations and other: -$124 million versus the five-analyst average estimate of -$90.81 million. The reported number represents a year-over-year change of +8.8%.
  • Net Sales- Fire & Security: $909 million versus $911.76 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -5.3% change.
  • Net Sales- Refrigeration: $1.02 billion compared to the $957.57 million average estimate based on five analysts. The reported number represents a change of +8.6% year over year.
  • Adjusted Operating profit- Refrigeration: $108 million versus $134.91 million estimated by five analysts on average.
  • Adjusted Operating profit- HVAC: $397 million versus $431.55 million estimated by five analysts on average.
  • Adjusted Operating profit- Fire & Security: $129 million versus $141.19 million estimated by five analysts on average.
  • Operating profit- GAAP- Refrigeration: $101 million versus the two-analyst average estimate of $137.17 million.
  • Operating profit- GAAP- HVAC: $335 million versus $449.40 million estimated by two analysts on average.
  • Operating profit- GAAP- Fire & Security: $109 million versus $105.28 million estimated by two analysts on average.
View all Key Company Metrics for Carrier Global here>>>

Shares of Carrier Global have returned -0.3% over the past month versus the Zacks S&P 500 composite's +5.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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