Q2 2025 Carrier Global Corp Earnings Call Transcript
Key Points
- Carrier Global Corp (CARR) achieved 6% organic growth in Q2 2025, with notable 45% growth in commercial HVAC in the Americas.
- The company expanded adjusted operating margins by 130 basis points and increased adjusted EPS by 26%.
- Carrier Global Corp (CARR) reported strong free cash flow, with about $1 billion in the first half of the year.
- The company is on track to double its data center revenues to $1 billion this year, with a growing backlog for future years.
- Carrier Global Corp (CARR) continues to see strong aftermarket growth, with sales up 10% in the first half of the year and a 40% increase in connected chillers.
- The European market, particularly in Germany, has been more challenging than expected, impacting margins due to unfavorable product mix.
- Residential sales in the Americas were below expectations due to lower volume, reflecting a late start to the cooling season.
- Organic sales in the Asia Pacific region were down 4%, with continued weakness in residential China and parts of Southeast Asia.
- Total company organic orders were down high teens in the quarter, facing tough comparisons from the previous year.
- The residential segment in the US is expected to see a volume decline of 20-25% in the second half of the year, impacting overall sales.
Good morning, and welcome to Carrier's second-quarter 2025 earnings conference call. I would like to introduce your host for today's conference, Michael Rednor, Vice President of Investor Relations. Please go ahead.
Good morning, and welcome to Carrier's second-quarter 2025 earnings conference call. On the call with me today are David Gitlin, Chairman and Chief Executive Officer; and Patrick Goris, Chief Financial Officer.
Except where otherwise noted, the company will speak to results from continuing operations, excluding restructuring costs, amortization of acquired intangibles, and certain significant non-recurring items, such as acquisition and divestiture related costs. A reconciliation of these and other non-GAAP financial measures can be found in the appendix of the webcast.
We also remind listeners that the presentation contains forward-looking statements, which are subject to risks and uncertainties. Carrier's SEC filings, including our Form 10-K and quarterly
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