FPX - Why Carrier Global Shares Are Surging Today | Benzinga
Carrier Global Corp (NYSE:CARR) shares are trading higher, rebounding from earlier weakness following first quarter FY24 results.
Net sales rose 17% Y/Y to $6.18 billion, missing the consensus of $6.28 billion.
Adjusted operating profit of $927 million was up 44% Y/Y, driven by strong productivity and the contribution from Viessmann Climate Solutions. Margin expanded to 15.0% from 12.2% a year ago.
The company reported adjusted EPS of $0.62, beating the consensus of $0.51.
Net cash provided by operating activities totaled $40 million, and capital expenditures were $104 million, resulting in a free cash outflow of $(64) million.
The company exited the quarter with ...