Carrier Reports Strong 2023 Results and Announces 2024 Outlook

Leading provider of intelligent energy and climate solutions worldwide, Carrier Global Corporation, released impressive financial results for the fourth quarter and the entire year 2023 today. The company anticipates strong organic growth in 2024, helped by double-digit aftermarket growth for the fourth year in a row, innovation, and sizable secular tailwinds. Our fourth-quarter results, which include robust operating profit growth and EPS up more than 30% over the previous year, further demonstrate Carrier's capacity to execute while changing. According to Carrier Chairman & CEO David Gitlin, "We increased gross margins by 210 basis points on 3% organic sales growth for the full year 2023, with both operating and free cash flow up about 50% compared to the prior year." "We completed our game-changing combination with Viessmann Climate Solutions in January and reached final agreements to sell both our Global Access Solutions and Commercial Refrigeration businesses for close to $6B combined, in addition to delivering results ahead of our projections for the year. With a substantial backlog and a leadership in sustainability, Carrier is well-positioned for another successful year financially in 2024.

Source: Carrier