Carrier Global Corporation Reports Q1 2025 Financial Results with $5.218 Billion in Net Sales

Carrier Global Corporation reported its financial results for the first quarter of 2025, revealing a net sales figure of $5.218 billion, a decrease of 4% from $5.420 billion in the same period last year. The decline was attributed to a 2% organic sales increase offset by a 5% negative impact from acquisitions and divestitures. The company's operating profit rose significantly to $629 million, up 63% from $385 million in the prior year, driven by reduced costs and improved operational efficiencies. Net earnings attributable to common shareholders were $412 million, or $0.47 per diluted share, compared to $269 million, or $0.29 per diluted share, in the previous year.

In terms of operational changes, Carrier underwent a significant portfolio transformation in 2024, acquiring the climate solutions business from Viessmann for $14.2 billion and divesting several businesses in its Fire & Security segment. This strategic shift has led to a reorganization of its reportable segments, now comprising Climate Solutions Americas, Climate Solutions Europe, Climate Solutions Asia Pacific, Middle East & Africa, and Climate Solutions Transportation. The restructuring aims to enhance operational focus and align management reporting with the company's strategic goals.

The company reported a notable increase in segment operating profit across its Climate Solutions Americas segment, which saw a 34% rise to $570 million, driven by strong demand in residential and commercial markets. Conversely, the Climate Solutions Europe segment experienced a 37% decline in operating profit to $105 million, primarily due to reduced volumes amid economic challenges. The Asia Pacific, Middle East & Africa segment reported a 12% increase in operating profit, while the Transportation segment's operating profit decreased by 14%.

Carrier's balance sheet as of March 31, 2025, showed total assets of $36.447 billion, down from $37.403 billion at the end of 2024. Total debt decreased to $11.184 billion from $12.278 billion, reflecting the company's ongoing efforts to manage its capital structure effectively. The company had cash and cash equivalents of $1.698 billion, a significant decrease from $3.969 billion at the end of the previous year, primarily due to share repurchases and debt repayments. Looking ahead, Carrier anticipates continued growth driven by favorable market trends and strategic investments, while also managing potential risks associated with economic conditions and supply chain challenges.