CARR - Carrier Global Corporation (CARR) Barclays 41st Annual Industrial Select Conference (Transcript)
2024-02-22 15:38:10 ET
Carrier Global Corporation (CARR)
Barclays 41st Annual Industrial Select Conference
February 22, 2024 10:20 AM ET
Company Participants
David Gitlin - Chairman and Chief Executive Officer
Patrick Goris - Senior Vice President and Chief Financial Officer
Conference Call Participants
Julian Mitchell - Barclays
Presentation
Julian Mitchell
Well, thanks, everyone, for being here. It's my pleasure to have up next Carrier Global, David Gitlin, Chairman and CEO; and Patrick Goris, CFO. So thanks very much to both of you for being here. I think we'll head straight into questions.
I think first off, maybe some Viessmann, as that closed relatively recently, a very large transaction. Maybe help us understand sort of how did that business kind of close out the year? How has it started the current year? And you've given some sort of revenue growth outlook for it for the year ahead. Any main assumptions?
David Gitlin
Sure. Well, first, Julian, thanks to you. Thanks to Barclays for having us back. Look, we could not be more excited about this Viessmann combination. We never bought it because what we thought was going to happen either in December or January. We looked at it and said there is an unambiguous transition in the European market to heat pumps. That premise will 100% continue.
So you look at what the EU is saying, 55% reduction in greenhouse gas emissions by 2030, 90% by 2040, and they specifically call out heat pumps because there's no way to get to those targets without a transition. So the underlying premise of that transition remains 100% intact....
Carrier Global Corporation (CARR) Barclays 41st Annual Industrial Select Conference (Transcript)