Carrier shares rallied 9.5% post-earnings as the company delivered results ahead of expectations, buoyed by particularly strong performance in commercial HVAC and aftermarket, alongside robust data center demand and outperformance in shorter-cycle businesses.
- Total company orders rose 11% year-over-year, driven by global commercial HVAC orders up 35% and global data center orders surging over 500%.
- Organic sales were roughly flat, but both CSA Resi and Light Commercial outperformed internal expectations; Light Commercial was up nearly 10%.
- The data center backlog now fully covers $1.5 billion of targeted 2026 sales, with intentions to exceed this figure.
- Both EPS and free cash flow came in better than expected, enabling $500 million in capital returns to shareholders through dividends and buybacks.
- Product and system differentiation, digital connectivity, and substantial share gains (notably 500 bps in global CHVAC since spin) continue to support margin and backlog expansion.
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