Carrier Global Corp (CARR) announced an increase in earnings for the third quarter compared to the previous year. However, these results did not meet Wall Street's expectations.
In detail, the company reported earnings of $447 million, translating to $0.49 per share. This is an improvement from last year’s figure of $357 million, or $0.42 per share, for the same period.
When excluding certain items, Carrier Global Corp posted adjusted earnings of $705 million, or $0.77 per share. This outcome fell short of analysts' predictions, who had anticipated earnings of $0.82 per share, based on data collected by Thomson Reuters. Typically, analysts' forecasts do not account for special items.
Moreover, the company's revenue for the quarter experienced a significant growth of 21.3%, reaching $5.984 billion, as opposed to $4.935 billion the previous year.
For quick reference, here are Carrier Global Corp’s key financial figures under Generally Accepted Accounting Principles (GAAP) for the third quarter:
- Earnings: $447 million, compared to $357 million in the prior year.
- Earnings Per Share (EPS): $0.49, up from $0.42 last year.
- Revenue: $5.984 billion, an increase from $4.935 billion the previous year.
Outlook: The company has forecasted a full-year EPS of $2.50 and anticipates revenue to reach $22.5 billion.
