Carrier Global Corp

Strong Start to 2025: Carrier reported a robust Q1 performance with $5.2 billion in sales, achieving a 2% organic sales growth and a remarkable 27% adjusted EPS growth to $0.65. This was above expectations, driven by strong productivity and pricing actions. Orders were up high single digits, particularly in the Climate Solutions (CS) and Transportation segments.

Revised Full-Year Guidance: The company increased its full-year adjusted EPS guidance to $3.00 - $3.10, representing a 20% year-over-year increase. This reflects confidence in ongoing productivity improvements, despite slightly lowered expectations for volume in certain segments, notably light commercial HVAC.

Segment Performance Challenges: The CS Americas segment displayed strong growth, particularly in residential sales, up about 20% due to favorable regulatory changes regarding heat pumps. Yet, light commercial sales were down about 35%, largely due to weakness in small to medium enterprises and educational institutions. The expectation for the light commercial segment is now down low double digits for the full year, impacting overall guidance.