NYSE$CARR

Carrier Global Corp · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

Reported sales of $3.9 billion and adjusted EPS of $0.35.

Carrier Global Corporation reported first quarter sales of $3.9 billion, a 10% decrease compared to the previous year. GAAP EPS was $0.11, and adjusted EPS was $0.35. The company identified $425 million in full-year cost reductions.

  • Sales of $3.9 billion were reported.
  • GAAP operating profit was $315 million, with an adjusted operating profit of $436 million.
  • GAAP EPS was $0.11, and adjusted EPS was $0.35.
  • $425 million in full-year cost reductions were identified.

Headline financials

Total Revenue

$3.89B

Previous: $4.32B-10.1%
EPS (adj)

$0.35

Previous: $0.46-23.9%
Organic Sales Growth

-9.0%

No prior period
Free Cash Flow

$96M

No prior period
Net Income

$96M

Previous: $400M-76.0%
Operating Income

$315M

Previous: $500M-37.0%
Gross Profit

$1.12B

Previous: $1.23B-8.5%
Cash & Equivalents

$768M

Previous: $863M-11.0%
Total Assets

$22B

No prior period
Stock-Based Comp

$13M

Previous: $8M+62.5%

Revenue & EPS history

Carrier · Revenue · Quarterly

$3.89B

Q1 2020-10.1%vs Q1 2019
Beat estimate in 7 of 11 quarters(64%)
ActualEstimate

Forward guidance

Carrier considered a range of different assumptions and the most reasonable scenarios fall into the following ranges:

Tailwinds

  • Sales of $15 - $17 billion
  • Adjusted operating profit of $1.7 - $2.0 billion
  • Free cash flow in excess of $1 billion

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2020

Historical avgQ1 2020

+0.6%

Avg return

Earnings day

+0.9%

Avg return

5 days after

+6.5%

Avg return

30 days after

50%

15 / 30 earnings

Positive

+11.8%

Q1 2020

Best reaction

-10.6%

Q2 2025

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+5.9%+4.0%+3.6%
Q4 2025-0.7%+3.6%-8.2%
Q3 2025+0.9%+2.1%-6.7%
Q2 2025-10.6%-16.5%-17.5%
Q1 2025+11.6%+12.2%+13.8%
Q4 2024-1.6%-1.7%-3.0%
Q3 2024-7.8%-6.7%-3.7%
Q2 2024+1.2%+2.2%+8.0%
Q1 2024+10.5%+12.3%+19.9%
Q4 2023-4.3%-0.4%+5.8%
Q3 2023-1.1%+1.3%+12.6%
Q2 2023+8.4%+9.9%+1.1%
Q1 2023-3.1%-0.3%-1.7%
Q4 2022-2.4%-2.9%+0.0%
Q3 2022+7.6%+6.9%+19.0%
Q2 2022+2.5%+2.2%+1.8%
Q1 2022-4.9%-4.7%-0.1%
Q4 2021+4.9%-0.5%-4.2%
Q3 2021-1.7%-1.4%+4.2%
Q2 2021+7.1%+10.9%+13.1%
Q1 2021-2.0%-3.1%+3.2%
Q4 2018-6.3%-6.1%-1.2%
Q4 2020-6.3%-6.1%-1.2%
Q3 2019+0.3%+11.0%+13.5%
Q3 2020+0.3%+11.0%+13.5%
Q2 2019+2.7%+4.5%+12.6%
Q2 2020+0.2%+2.2%+11.5%
Q4 2019-3.1%-9.0%+20.9%
Q1 2019-3.1%-9.0%+20.9%
Q1 2020+11.8%+0.2%+43.6%

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