NYSE$CARR

Carrier Global Corp · Q2 2025 earnings

Q2 2025 earnings · · Before market open · Investor relations

Briefing

Carrier reported Q2 2025 net sales of $6.11B with net income of $633M and diluted EPS of $0.68.

Net sales were $6.11 billion as HVAC and refrigeration demand benefited from data-center and residential replacement cycles. Net income was $633 million; diluted EPS was $0.68. Portfolio simplification and Viessmann integration support margin targets.

  • Q2 net sales $6.11B.
  • Net income $633M; diluted EPS $0.68.
  • HVAC and data-center cooling demand.
  • Viessmann integration and portfolio actions continue.

Headline financials

Total Revenue

$6.11B

Previous: $6.69B-8.6%
EPS (adj)

$0.68

Previous: $0.87-21.8%
Free Cash Flow

$591M

Previous: $2.37B-75.1%
Net Income

$591M

Previous: $2.37B-75.1%
Operating Income

$903M

Previous: $3.69B-75.5%
Cash & Equivalents

$1.8B

Previous: $2.92B-38.4%
Total Assets

$38.5B

Previous: $40.4B-4.8%

Revenue & EPS history

Carrier · Revenue · Quarterly

$6.11B

Q2 2025-8.6%vs Q2 2024
Beat estimate in 5 of 15 quarters(33%)
ActualEstimate

Forward guidance

The quarterly filing discusses operating priorities, liquidity, and sector risks.

Tailwinds

  • MD&A outlines strategic priorities and capital allocation.
  • Segment commentary supports the earnings narrative.

Headwinds

  • Macro, rates, or input costs may pressure margins.
  • One-time items can affect year-over-year comparability.

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 2025

Historical avgQ2 2025

+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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