Carrier Reports Q1 2025 Results with Higher Earnings and Margin Expansion

Carrier Reports Q1 2025 Results with Higher Earnings and Margin Expansion

USA: Carrier Global Corporation reported net sales of USD 5,218 million (EUR 4,868 million) for the first quarter of 2025, reflecting a 4 percent decline year-on-year, mainly due to the divestiture of its Commercial Refrigeration business. Organic sales increased by 2 percent. GAAP operating profit rose by 63 percent to USD 629 million (EUR 586 million), while adjusted operating profit grew by 10 percent to USD 843 million (EUR 785 million). Adjusted earnings per share increased by 27 percent to USD 0.65. Free cash flow stood at USD 420 million (EUR 391 million), supported by improved working capital and lower capital expenditures. The company returned USD 1.5 billion (EUR 1.4 billion) to shareholders through share repurchases and dividends and reduced debt by USD 1.2 billion (EUR 1.1 billion). 

By business segment, Climate Solutions Americas reported a 9 percent sales increase, while Europe and Asia Pacific, Middle East & Africa saw declines of 10 percent and 7 percent, respectively. Climate Solutions Transportation segment sales fell 26 percent due to the refrigeration unit divestiture, although it saw 2 percent organic growth. The company has raised its full-year 2025 adjusted earnings per share guidance to USD 3.00–3.10 (EUR 2.80–2.90), and maintained its free cash flow forecast of USD 2.4–2.6 billion (EUR 2.25–2.45 billion). Carrier also transitioned to a new segment reporting structure as part of its updated financial disclosures. 

Source: Carrier