Carrier Global said net sales for the 3 months ended March 31, 2025 were $5.2 billion, a 4% decrease compared with the same period of the prior year, while organic sales increased 2%. The company cited strong end-market demand in Climate Solutions Americas as a driver of the organic increase.

1. 01

   Carrier Global said net sales for the 3 months ended March 31, 2025 were $5.2 billion, a 4% decrease compared with the same period of the prior year, while organic sales increased 2%. The company cited strong end-market demand in Climate Solutions Americas as a driver of the organic increase.

2. 02

   Carrier Global said gross margin for Q1 2025 was $1.4 billion, a 4% increase compared with the same period of the prior year, with the increase amounting to $60 million and gross margin as a percentage of net sales rising 210 basis points. The company explained that the prior period included inventory step-up and backlog amortization related to the VCS Business that had an unfavorable impact of 200 basis points on gross margin as a percentage of net sales.

3. 03

   Carrier Global said net sales for Climate Solutions Americas in Q1 2025 were $2.6 billion, a 9% increase, and segment operating profit was $570 million, a 34% increase. Climate Solutions Europe had net sales of $1.2 billion, a 10% decrease, and segment operating profit of $105 million, a 37% decrease.

4. 04

   Carrier Global said it repurchased 19.0 million shares for $1.3 billion during the 3 months ended March 31, 2025, repaid $1.2 billion of long-term debt and paid $198 million in dividends. Net cash used in continuing financing activities for the same period was $2.7 billion.

Key figures

Quarter ended March 31, 2025

Revenue

$5.2B

Operating income

$629M

Net income

$412M

EPS

$0.47

Operating cash flow

$483M

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. 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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