Air conditioner maker Carrier Q3 revenue rises on data center demand, raises FY outlook

Carrier Global

29/10/2026 10:12

Overview
Climate and energy solutions firm's Q3 revenue rose 12% and organic sales grew 15% yr/yr
Adjusted EPS for Q3 rose 30% yr/yr
GAAP loss driven by $3.1 bln goodwill impairment charge in Europe unit

Outlook
Carrier raises 2026 sales guidance to $23.8-$24.0 bln from about $23 bln
Carrier expects 2026 adjusted EPS of $2.85 to $2.90
Company says macro pressures, including tariffs and input costs, remain a concern

Result Drivers
STRONG DEMAND - Carrier said Q3 results were driven by robust demand, especially in data centers, leading to a record backlog
VOLUME AND PRICING - Co attributed margin expansion to higher volumes and improved pricing, partly offset by increased input costs and tariffs
OPERATING PROFIT AND SHARE COUNT - Carrier said higher operating profit and a reduced share count contributed to adjusted EPS growth

Company press release: ID:nPn3b2XGDa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
 
$6.30 bln
 
Q3 Adjusted EPS
 
$0.87
 
Q3 Loss Per Share
 
$3.16
 
Q3 Adjusted Operating Income 
 
$1.09 bln
 
Q3 Free Cash Flow
 
$674 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 13 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the electrical components & equipment peer group is "buy"
Wall Street's median 12-month price target for Carrier Global Corporation is $73.56, about 30.7% above its October 28 closing price of $56.27
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 24 three months ago

Reuters Recommended Reads
Oct 28 - Vertiv beats Q3 revenue, profit estimates; raises FY guidance
Oct 27 - Watsco Q3 revenue slightly beats on acquisition boost
Oct 28 - Lennox Q3 revenue misses on competitive pressure, inflation

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)