Carrier said net sales for Q1 2024 were $6.2 billion, up 17% from a year earlier, with organic sales up 2%. Adjusted operating profit was $927 million, and adjusted operating margin was 15.0%.

1. 01

   Carrier said net sales for Q1 2024 were $6.2 billion, up 17% from a year earlier, with organic sales up 2%. Adjusted operating profit was $927 million, and adjusted operating margin was 15.0%.

2. 02

   The company said GAAP operating profit for Q1 was $500 million, down 10% from a year earlier, which it attributed mainly to acquisition costs and amortization of acquired intangible assets. Net income was $269 million, GAAP EPS was $0.29, and adjusted EPS was $0.62.

3. 03

   Carrier said net cash flow from operating activities for Q1 was $40 million and capital expenditures were $104 million, resulting in a free cash outflow of $64 million. The company said the outflow was consistent with its seasonal working capital pattern.

4. 04

   The company said it raised its adjusted operating margin outlook for 2024 to about 15.5% from 15.0% to 15.5%, and maintained its adjusted EPS outlook at $2.80 to $2.90. Net debt was $15,582 million as of March 31, 2024, up from $4,278 million as of December 31, 2023.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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