Q3 2025 Carrier Global Corp Earnings Call Transcript
Key Points
- Carrier Global Corp (CARR) reported better-than-expected performance in commercial HVAC in the Americas, with a 30% increase in the quarter.
- The company achieved double-digit sales growth in multiple areas, including CSE residential heat pumps, container, and businesses in India and the Middle East.
- Carrier Global Corp (CARR) secured its largest order ever with a key hyperscaler, enhancing its position in the new home construction sector.
- The company delivered 12% growth in its aftermarket business and remains on track for its fifth consecutive year of double-digit growth.
- Carrier Global Corp (CARR) announced a new $5 billion share repurchase authorization, reflecting confidence in its strategy and execution.
- North American residential softness created a $500 million sales challenge and a $0.20 to $0.25 adjusted EPS headwind in the quarter.
- The CSA residential business experienced a 30% decline in sales, driven by a roughly 40% decline in volume.
- Organic sales in the CSA segment declined 8%, with residential and light commercial sales down significantly.
- The company faced a year-over-year decline in adjusted operating profit by 21%, primarily due to lower volume in the CSA residential business.
- Carrier Global Corp (CARR) revised its full-year guidance, reflecting market weakness in residential and light commercial businesses in the Americas and Europe.
Good morning and welcome to Carrier's third-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 third-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 and certain significant non-recurring items. 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 reports on Form 10-Q, provide details on important factors that could cause actual results to
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