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Carrier Global beats quarterly profit estimate, raises 2025 forecast amid strong HVAC demand

Carrier Global beat analysts' estimates for the first-quarter profit and raised its forecast for 2025, anticipating a strong demand for its HVAC products and aftermarket repairs.

The demand for air conditioners has increased due to the rising temperatures in the world, fueled by climate changes and increasing levels of air pollution.

As more buildings must now meet energy regulations, the company has also benefitted from the rapid adoption by heat pumps that are energy efficient.

Trane Tech, a competitor, also beat its quarterly forecasts this week due to strong demand for air conditioners.

Carrier said that it would "fully mitigate" the effect of the tariffs currently in place.

The Florida-based firm reported a first-quarter adjusted profit of 65 cents a share, up from 51 cents compared to a year ago.

According to LSEG data, analysts on average expect earnings of 58c per share.

Carrier's adjusted profit for the full year 2025 is expected to range from $3.00 to $3.2 per share. This compares to the previous forecast of $2.95 - $3.05.

Analysts expect earnings per share of $2.98 in 2025. (Reporting and editing by Vijay Kishore in Bengaluru, Anshuman tripathy from Bengaluru)

(source: Reuters)