Carrier said net sales for Q2 2025 were $6,113 million, up 3% from $5,934 million in the prior year, and organic sales increased 6%. The company cited the sale of Commercial Refrigeration as the reason for a 4% headwind from net acquisitions and divestitures.

1. 01

   Carrier said net sales for Q2 2025 were $6,113 million, up 3% from $5,934 million in the prior year, and organic sales increased 6%. The company cited the sale of Commercial Refrigeration as the reason for a 4% headwind from net acquisitions and divestitures.

2. 02

   Carrier said diluted EPS from continuing operations for Q2 were $0.70, up 56%, and adjusted EPS were $0.92, up 26%. Operating margin was 14.8% and adjusted operating margin was 19.1%. The company cited higher operating profit, lower net interest expense and benefits of a lower share count as factors in EPS.

3. 03

   Carrier said Climate Solutions Americas net sales for Q2 were $3,252 million, up 14%, with Commercial (excluding NORESCO) up 45%. Climate Solutions Asia Pacific, Middle East & Africa net sales, by contrast, were $882 million, down 2%.

4. 04

   Carrier said net cash flows from operating activities for Q2 were $649 million, capital expenditures were $81 million and free cash flow was $568 million. The company maintained its full-year guidance for adjusted EPS of $3.00 to $3.10 and free cash flow of $2.4 to $2.6 billion, unchanged from its prior guidance.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

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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