Carrier Global Corp Ordinary Shares
CARR: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$41.00 | Qyjkf | Mbyhdtbxm |
Carrier Earnings: Commercial HVAC Demand Remains Robust; Portfolio Transformation Continues
Overall, Carrier delivered a solid fourth-quarter performance, although there were puts and takes. Flat year-over-year organic revenue growth during the quarter fell short of our expectations as continued distributor inventory destocking of residential heating, ventilation, and air-conditioning systems more than offset strong demand for light commercial and larger commercial HVAC equipment and services. And despite HVAC segment revenue declining 1% year over year, the segment delivered notable adjusted operating margin expansion that propelled consolidated margin higher by 80 basis points to 10.9%.