Carrier GlobalCARREarnings & Financial Report
Carrier Global Corporation is an American multinational heating, ventilation, and air conditioning (HVAC), refrigeration, and fire and security equipment corporation based in Palm Beach Gardens, Florida. Carrier was founded in 1915 as an independent company manufacturing and distributing HVAC systems, and has since expanded to include manufacturing commercial refrigeration and food service equipment, and fire and security technologies.
Revenue
$6.1B
Gross Profit
N/A
Operating Profit
$903.0M
Net Profit
$591.0M
Gross Margin
N/A
Operating Margin
14.8%
Net Margin
9.7%
YoY Growth
-8.6%
EPS
$0.68
Carrier Global Q2 FY2025 Financial Summary
Carrier Global reported revenue of $6.1B (down 8.6% YoY) for Q2 FY2025, with a net profit of $591.0M (down 74.7% YoY) (9.7% margin).
Key Financial Metrics
| Total Revenue | $6.1B |
|---|---|
| Net Profit | $591.0M |
| Gross Margin | N/A |
| Operating Margin | 14.8% |
| Report Period | Q2 FY2025 |
Revenue Breakdown
Carrier Global Q2 FY2025 revenue of $6.1B breaks down across 4 segments, led by Climate Solutions Americas Segment at $3.3B (53.2% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Climate Solutions Americas Segment | $3.3B | 53.2% |
| Climate Solutions Europe Segment | $1.3B | 20.5% |
| Climate Solutions CSAME Segment | $882.0M | 14.4% |
| Climate Solutions Transportation | $726.0M | 11.9% |
Carrier Global Revenue by Segment — Quarterly Trend
Carrier Global revenue by segment across the last 4 reported quarters, showing how each business line (such as Climate Solutions Americas Segment and Climate Solutions Europe Segment) has evolved quarter over quarter.
| Segment | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 |
|---|---|---|---|---|
| Climate Solutions Americas Segment | — | — | $2.7B | $3.3B |
| Climate Solutions Europe Segment | — | — | $1.3B | $1.3B |
| Climate Solutions CSAME Segment | — | — | $833.0M | $882.0M |
| Climate Solutions Transportation | — | — | $745.0M | $726.0M |
Carrier Global Annual Revenue by Year
Carrier Global annual revenue history includes year-by-year totals (for example, 2025 revenue was $21.7B).
| Year | Annual Revenue |
|---|---|
| 2025 | $21.7B |
| 2024 | $22.5B |
| 2023 | $22.1B |
| 2022 | $20.4B |
Carrier Global Quarterly Revenue & Net Profit History
Carrier Global results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $5.3B | +2.4% | $265.0M | 5.0% |
| Q4 FY2025 | $4.8B | +33.2% | $53.0M | 1.1% |
| Q3 FY2025 | $5.6B | -6.8% | $428.0M | 7.7% |
| Q2 FY2025 | $6.1B | -8.6% | $591.0M | 9.7% |
| Q1 FY2025 | $5.2B | -15.6% | $412.0M | 7.9% |
| Q4 FY2024 | $3.6B | -28.8% | $2.6B | 70.3% |
| Q3 FY2024 | $6.0B | +4.4% | $447.0M | 7.5% |
| Q2 FY2024 | $6.7B | +11.6% | $2.3B | 34.9% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.69B | $5.98B | $3.63B | $5.22B | $6.11B | $5.58B | $4.84B | $5.34B |
| YoY Growth | 11.6% | 4.4% | -28.8% | -15.6% | -8.6% | -6.8% | 33.2% | 2.4% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $40.42B | $40.20B | $37.40B | $36.45B | $38.49B | $38.08B | $37.19B | $37.19B |
| Liabilities | $26.34B | $25.16B | $23.01B | $22.25B | $23.48B | $23.24B | $23.06B | $23.39B |
| Equity | $14.08B | $15.04B | $14.39B | $14.20B | $15.01B | $14.84B | $14.13B | $13.80B |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|
| Operating CF | $660.0M | $-269.0M | $132.0M | $483.0M | $649.0M | $341.0M | $1.04B |