Carrier Global said net sales for the year ended December 31, 2024 were $22.5 billion, an increase of 19% compared with the prior year. The company cited organic growth of 3%, driven primarily by improved end-markets in the Americas within the HVAC segment.

1. 01

   Carrier Global said net sales for the year ended December 31, 2024 were $22.5 billion, an increase of 19% compared with the prior year. The company cited organic growth of 3%, driven primarily by improved end-markets in the Americas within the HVAC segment.

2. 02

   The company said net sales in its HVAC segment for the year were $19.1 billion, an increase of 26% compared with the prior year, with organic growth of 5%. It added that the VCS Business, acquired on January 2, 2024, contributed 21% to net sales.

3. 03

   Carrier Global said it completed the sales of Access Solutions for $5.0 billion, Industrial Fire for $1.4 billion, Commercial Refrigeration for $679 million and Commercial and Residential Fire for $2.9 billion in 2024. The amounts represent cash proceeds, with the net proceeds from the latter two transactions subject to working capital and other adjustments.

4. 04

   The company said net cash used in continuing investing activities in 2024 was $11.0 billion, with the primary driver being the acquisition of the VCS Business for $10.8 billion (net of cash acquired). It added that net cash used in continuing financing activities was $4.6 billion, which included repayments of long-term debt of $5.3 billion, repurchases of common stock of $1.9 billion and dividend payments of $670 million.

Key figures

Fiscal year ended December 31, 2024

Revenue

$22.5B

Operating income

$2.6B

Net income

$5.6B

EPS

$6.15

Operating cash flow

$563M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

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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