Carrier Global Raises Annual Forecast Following Strong Data Center Demand

The company reported net sales of $6.4 billion for the quarter, marking a 4% increase over the previous year. While total company orders climbed roughly 40%, the commercial HVAC sector saw a 65% jump, with data centers specifically recording growth exceeding 300%. Chairman and CEO David Gitlin noted that organic sales returned to growth earlier than anticipated, bolstered by robust performance in the Climate Solutions Americas segment.

Despite these gains, the company faced some headwinds, with GAAP operating profit falling 9% to $825 million, partly due to input costs and business mix. The firm also adjusted its earnings outlook to approximately $2.90 per share, a figure that accounts for the exit from NORESCO and costs associated with a new U.S. factory. Carrier continued its capital return strategy during the period, providing shareholders with roughly $640 million through dividends and share repurchases.