Carrier Global (CARR) Reports Q3: Everything You Need To Know Ahead Of Earnings

Heating, ventilation, air conditioning, and refrigeration company Carrier Global (NYSE:CARR) will be reporting earnings tomorrow before market open. Here’s what investors should know.

Carrier Global missed analysts’ revenue expectations by 5.4% last quarter, reporting revenues of $6.69 billion, up 11.6% year on year. It was a slower quarter for the company, with a miss of analysts’ organic revenue estimates and full-year revenue guidance missing analysts’ expectations.

Is Carrier Global a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Carrier Global’s revenue to grow 15.1% year on year to $6.60 billion, improving from the 5.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.82 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Carrier Global has missed Wall Street’s revenue estimates five times over the last two years.

Looking at Carrier Global’s peers in the building products segment, some have already reported their Q3 results, giving us a hint as to what we can expect. A. O. Smith’s revenues decreased 3.7% year on year, missing analysts’ expectations by 5.8%, and AZZ reported revenues up 2.6%, in line with consensus estimates. AZZ traded down 5.2% following the results.

Read our full analysis of A. O. Smith’s results here and AZZ’s results here.

Investors in the building products segment have had steady hands going into earnings, with share prices flat over the last month. Carrier Global’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $80.98 (compared to the current share price of $79.78).

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