NYSE$CARR
Carrier Global Corp · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Carrier's Q2 2024 financial performance was strong, marked by significant sales growth, operating margin expansion, and progress in portfolio transformation.
Carrier reported strong Q2 2024 results with net sales of $6.7 billion, up 12% year-over-year, and organic sales up 2%. GAAP EPS was $2.55, and adjusted EPS was $0.87, up double-digits. The company achieved a 200 bps expansion in adjusted operating margin and reduced net debt by approximately $5 billion. They also plan to repurchase about $1 billion of shares in the second half of 2024.
- Net sales reached $6.7 billion, a 12% increase compared to Q2 2023, with organic sales up by 2%.
- GAAP EPS significantly increased to $2.55, while adjusted EPS rose to $0.87, showing double-digit growth.
- Adjusted operating margin expanded by 200 bps due to strong operational execution.
- The company closed two of the four planned business exit transactions and is on track with the remaining two.
Headline financials
Revenue & EPS history
Carrier · Revenue · Quarterly
$6.69B
Forward guidance
Carrier updated its full-year 2024 guidance, which now includes Commercial Refrigeration for nine months.
Tailwinds
- Sales: ~$25.5B
- Organic Sales: Up mid-single digit
- FX: (1%)
- Acquisitions: +16%
- Divestitures: (5%)
Headwinds
- Free Cash Flow* ~$0.4B
- Includes ~$2B of expected tax payments on the gains from the announced business exits, restructuring, and transaction-related costs
- Sales ~$26B
- Organic* up MSD
- FX (0%)
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 Q2 2024
+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
| Quarter | Report date | Reaction (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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