Carrier's Q3 Sales Surge by 21% Driven by Viessmann Acquisition and Strong HVAC Demand
USA: Carrier reported third-quarter net sales of $6 billion, a 21% increase compared to last year, bolstered by the acquisition of Viessmann Climate Solutions, which contributed approximately 17% to sales. Organic HVAC segment sales rose by 6%. In the Americas, HVAC sales grew in the high single digits, with commercial HVAC up nearly 20% and North American residential HVAC seeing double-digit growth. In EMEA, HVAC organic sales rose slightly, with commercial HVAC up double digits, offset by declines in residential and light commercial segments. Asia Pacific HVAC sales dropped slightly due to declines in China's residential and light commercial sectors, though commercial HVAC sales strengthened in other parts of Asia. Refrigeration sales saw a 1% organic increase, driven by over 30% growth in container sales, despite North America truck and trailer sales declines. Carrier’s GAAP operating profit rose by 50% to 0.8 billion USD due to operational performance and the addition of Viessmann Climate Solutions.
Source: Cooling Post