Carrier Global Corporation has appointed Ms. Beril Yildiz as Vice President, Controller, and Chief Accounting Officer, effective September 22, 2025. Ms. Yildiz, 47, has extensive experience in financial leadership roles, previously serving at International Flavors & Fragrances Inc. and Revlon Inc., among others. She will replace Mr. Patrick Goris, who has been the interim Controller since May 2025 and will continue as Senior Vice President and Chief Financial Officer.
As part of her compensation package, Ms. Yildiz will receive an annual base salary of $500,000, with participation in the Executive Annual Bonus Plan and the Long Term Incentive Plan. She will also receive a sign-on equity grant valued at $750,000 and a cash sign-on award of $800,000. Additionally, she is entitled to standard relocation expenses under the company's policy.
linkSep 04, 2025 16:28:12
Carrier Global Corporation has filed a report to recast certain financial amounts from its 2024 Annual Report to align with new reportable segments established during the quarter ending March 31, 2025. This adjustment is part of a broader portfolio transformation aimed at enhancing business strategy and transparency for investors. The company now operates under four segments: Climate Solutions Americas, Climate Solutions Europe, Climate Solutions Asia Pacific Middle East & Africa, and Climate Solutions Transportation. These changes do not involve restating previous financial statements but are necessary for compliance with SEC regulations regarding segment reporting.
The company reported net sales of $22.5 billion and an operating profit of $2.6 billion for the year ending December 31, 2024, with international operations contributing approximately 50% of net sales. Carrier has also made significant strategic moves, including the acquisition of the climate solutions business from Viessmann Group and the divestiture of several non-core businesses, generating substantial cash proceeds. The company aims to focus on innovative energy management solutions and digitally-enabled services to enhance customer engagement and drive future growth.
linkJul 29, 2025 16:28:11
Carrier Global Corporation announced its second quarter 2025 results, reporting net sales of $6.1 billion, a 3% increase compared to the previous year, with organic sales growth of 6%. The company achieved a GAAP EPS of $0.70, up 56%, and an adjusted EPS of $0.92, which reflects a 26% increase. The operating profit for the quarter rose to $903 million, a 25% increase from last year, driven by strong operational performance and a decrease in acquisition-related costs.
The Climate Solutions Americas segment saw a 14% increase in sales, primarily due to a 45% rise in Commercial 1 sales. However, the Climate Solutions Transportation segment experienced a 25% decline in sales following the divestiture of Commercial Refrigeration. Carrier generated net cash flows from operating activities of $649 million, resulting in a free cash flow of $568 million. The company reaffirmed its full-year guidance for sales, adjusted operating margins, adjusted EPS, and free cash flow.
linkJul 29, 2025 06:55:08
On June 5, 2025, Carrier Global Corporation repurchased 4,267,425 shares of its common stock from Viessmann Traeger HoldCo GmbH for a total of $300 million. The purchase price per share was $70.30, reflecting a discount from the closing price on the same day. This transaction was conducted under the company's existing share repurchase authorization and was simultaneously matched by a sale of the same number of shares to a third-party broker.
Maximilian Viessmann, a director at Carrier and associated with Viessmann HoldCo, stated that he sold a small percentage of his shares for diversification, while remaining the largest non-institutional shareholder. He confirmed his commitment to Carrier's Board and indicated that Viessmann HoldCo would not sell any Carrier common stock within the current calendar year.
linkJun 05, 2025 16:40:51
Carrier Global Corporation announced its financial results for the first quarter of 2025, reporting net sales of $5.2 billion, a decrease of 4% from the previous year, primarily due to a divestiture. However, organic sales grew by 2%. The company achieved a GAAP earnings per share (EPS) of $0.47, reflecting a 147% increase, and an adjusted EPS of $0.65, up 27%. Operating profit rose significantly to $629 million, a 63% increase year-over-year, driven by improved operational performance and lower costs related to acquisitions and divestitures.
The company generated $483 million in net cash flows from operating activities and $420 million in free cash flow. Carrier returned $1.5 billion to shareholders through share repurchases and dividends while also reducing its debt by $1.2 billion. The company has increased its full-year adjusted EPS guidance to a range of $3.00 to $3.10, indicating a positive outlook for the remainder of the year.
linkMay 01, 2025 06:52:11
Carrier Global Corporation reported a 19% increase in sales for both the fourth quarter and full year 2024, totaling $5.1 billion and $22.5 billion respectively. The company achieved significant adjusted earnings per share growth of 50% in the fourth quarter, reaching $0.54, and a full year adjusted EPS of $2.56, up 16%. Additionally, Carrier returned approximately $2.6 billion to shareholders through dividends and share repurchases, showcasing its commitment to shareholder value.
However, the company faced a GAAP net loss from continuing operations of $48 million in the fourth quarter, primarily due to a substantial tax charge related to an internal reorganization. The refrigeration segment saw a decline in organic sales by 6%, particularly in North America, which could indicate challenges in that area. Despite these negatives, Carrier completed a significant portfolio transformation, including the integration of Viessmann Climate Solutions, which may position the company for future growth.
linkFeb 11, 2025 06:57:48
Carrier Global Corporation has appointed Amy Miles to its Board of Directors, effective immediately. Miles brings extensive experience in business and operational leadership, having previously served as Chair and CEO of Regal Entertainment Group. Her background includes roles on the boards of Amgen and Gap, where she has contributed to governance and audit committees. The company anticipates that her expertise will enhance its strategic priorities and drive shareholder value.
There are no specific negative points mentioned in the press release. The focus is on the positive impact that Miles is expected to bring to Carrier through her diverse experience and commitment to customer-centric innovation.
linkJan 15, 2025 16:31:16
Carrier Global Corporation has successfully completed the sale of its Commercial and Residential Fire business for an enterprise value of $3 billion. This transaction marks the final step in the company's strategic portfolio transformation, which aims to simplify its operations and strengthen its focus on intelligent climate and energy solutions. Carrier plans to utilize the estimated $2.2 billion in net proceeds from this sale to fund share repurchases, including a significant $1 billion under an accelerated share repurchase program.
On the downside, the completion of this sale indicates a significant restructuring for Carrier, as it has divested multiple business segments including Industrial Fire and Commercial Refrigeration in addition to the Fire business. While this transformation is aimed at enhancing the company's growth and focus, it also raises questions about the potential impact on its workforce and the long-term implications of reducing its business diversity.
linkDec 02, 2024 08:54:06
Carrier Global Corporation successfully completed a private offering of €750 million in euro-denominated notes with a 3.625% interest rate, set to mature in 2037. The proceeds from this offering were utilized to redeem the company's existing 4.375% Euro 2025 Notes, thereby potentially reducing its interest expenses and improving its debt structure. The notes will start accruing interest on January 15, 2025, and the company has established provisions for redemption under certain conditions, providing flexibility in managing its debt obligations.
However, the company faced a significant cash outflow of approximately €770.7 million to redeem the Euro 2025 Notes, which may raise concerns about liquidity. Additionally, the issuance of new notes underlines the company's reliance on debt financing, which could impact its financial stability if not managed carefully. The covenants in the indenture also impose restrictions on certain operational activities, which could limit the company's strategic options in the future.
linkNov 08, 2024 07:40:14
Carrier Global Corporation announced impressive financial results for the third quarter of 2024, with net sales reaching $6.0 billion, marking a 21% increase from the previous year. The company's organic sales grew by 4%, driven by strong performance in the HVAC segment, particularly in commercial and residential markets. Carrier's operational efficiency led to a significant rise in profits, with adjusted earnings per share from continuing operations at $0.77. The board also authorized a $4.7 billion share repurchase plan, reflecting a commitment to enhancing shareholder value.
However, the company is undergoing a significant transformation, having moved its Fire & Security segment to discontinued operations, which has made prior performance comparisons challenging. This transition is part of Carrier's strategy to focus on its core intelligent climate and energy solutions. While the overall financial health appears strong, the impact of divestitures and restructuring costs may affect future cash flow and operational stability. The company has updated its guidance for the year to account for these changes, indicating a cautious outlook moving forward.
linkOct 24, 2024 06:58:44