Carrier Global (CARR) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Equity Research
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Carrier Global (CARR) reported $5.98 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 4.4%. EPS of $0.77 for the same period compares to $0.89 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $6.61 billion, representing a surprise of -9.50%. The company delivered an EPS surprise of -4.94%, with the consensus EPS estimate being $0.81.

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.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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- Refrigeration: $938 million compared to the $945.45 million average estimate based on five analysts. The reported number represents a change of +1.5% year over year.

  • Net Sales- HVAC: $5.06 billion versus the five-analyst average estimate of $5.17 billion. The reported number represents a year-over-year change of +26.2%.

  • Adjusted Operating profit- Refrigeration: $117 million versus $110.45 million estimated by four analysts on average.

  • Adjusted Operating profit- HVAC: $1 billion compared to the $1.01 billion average estimate based on four analysts.

View all Key Company Metrics for Carrier Global here>>>

Shares of Carrier Global have returned +0.4% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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