Carrier Global reports Q4 adjusted EPS 53c, consensus 51c

Reports Q4 revenue $5.1B, consensus $5.23B. “Our fourth quarter results continue to show Carrier’s ability to perform while transforming with strong operating profit growth and EPS up over 30% compared to the prior year. For full-year 2023, we grew gross margins 210 basis points on 3% organic sales growth with both operating and free cash flow up about 50% compared to the prior year,” said Carrier Chairman & CEO David Gitlin. “In addition to delivering results ahead of our projections for the year, we completed our game-changing combination with Viessmann Climate Solutions in January and reached definitive agreements to sell both our Global Access Solutions and Commercial Refrigeration businesses for close to $6B combined. Looking forward to 2024, our solid backlog levels and sustainability leadership position Carrier for another year of strong financial performance.”