Q1 2026 Carrier Global Corp Earnings Call Transcript
Key Points
- Carrier Global Corp (CARR) reported better-than-expected financial results for the first quarter of 2026, with strong demand for commercial HVAC and aftermarket solutions.
- Company orders in Q1 were up 11%, led by a 35% increase in global CHVAC orders and a significant 500% increase in global data center orders.
- Carrier Global Corp (CARR) returned approximately $500 million to shareholders through dividends and share buybacks.
- The company is making strong progress in product differentiation, with new offerings such as a highly efficient fan coil and an air-to-water heat pump.
- Carrier Global Corp (CARR) is seeing strong demand for heat pumps in Europe, driven by increased natural gas prices, and expects continued growth in this segment.
- Adjusted EPS declined by 12% year-over-year, primarily due to lower sales and absorption in the CSA Residential business and continued headwinds in China.
- Organic sales for the CSA segment were down 3%, with residential sales down 12% due to lower field inventories and unit volume movements.
- The CSE segment experienced disappointing operating profit and margin performance, driven by lower commercial volume and higher temporary promotions.
- Sales in the CSAME segment declined by 1% due to ongoing weakness in residential and light commercial China, with overall sales in China down low teens.
- Carrier Global Corp (CARR) is facing increased input costs due to new tariffs, fuel, and raw material prices, which are expected to be offset by supply chain actions and increased pricing.
Good morning, and welcome to Carrier's first-quarter 2026 earnings conference call. I would like to introduce you to today's host for the conference, Michael Rednor, Vice President of Investor Relations. Please go ahead.
Good morning, and welcome to Carrier's First Quarter 2026 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 nonrecurring 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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