Carrier Global expects to resume share repurchases this year

“We continue to perform while transforming. We expanded adjusted operating margins by 280 basis points driven by very strong productivity while continuing to invest in our future,” said Carrier chairman and CEO David Gitlin. “We closed on Viessmann Climate Solutions at the beginning of the year, which will be transformational for Carrier and the industry. We are focused on capitalizing on the long-term secular sustainability trends, outperforming the market, and achieving and accelerating revenue and cost synergies. The business exits are also on track as we are within months of closing on three of our four transactions and are making significant progress on completing the fourth. We now expect to resume share repurchases in 2024 as the net proceeds from the announced transactions help us return to ~2x net leverage this year.”