NYSE$CARR
Carrier Global Corp · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported strong financial results and raised full year adjusted operating margin and adjusted EPS guidance.
Carrier's Q3 2023 results showed a 5% increase in sales compared to the prior year, with organic sales up 3%. The company reported GAAP EPS of $0.42 and adjusted EPS of $0.89. Net cash inflows from operating activities were $1.04 billion, and free cash flow generation was $949 million. The company is increasing adjusted EPS guidance for 2023 from $2.55 - $2.65 to approximately $2.70.
- Net sales increased by 5% compared to Q3 2022, with organic sales up 3%.
- GAAP EPS was $0.42, and adjusted EPS was $0.89.
- Net cash inflows from operating activities reached $1.04 billion, with free cash flow of $949 million.
- Adjusted EPS guidance for 2023 increased from $2.55 - $2.65 to approximately $2.70.
Headline financials
Revenue & EPS history
Carrier · Revenue · Quarterly
$5.73B
Forward guidance
Carrier updated its full-year 2023 guidance, expecting sales over $22 billion, organic sales up in the mid-single digits, adjusted operating margin of approximately 14.5%, adjusted EPS of approximately $2.70, and free cash flow over $1.9 billion.
Tailwinds
- Sales over $22B
- Organic sales up MSD
- FX ~0%
- Acquisitions / Divestitures, net +~5%
- Adjusted Operating Margin *~ 14.5%
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 Q3 2023
+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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