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Mar 31, 2021
Carrier Q1 2021 Earnings Report
Carrier experienced strong sales growth and margin expansion, driven by continued demand in North American residential HVAC and improving order trends.
Key Takeaways
Carrier reported strong first quarter results with sales of $4.7 billion, up 21% compared to 2020, including 17% organic growth. GAAP EPS was $0.43 and adjusted EPS was $0.48. The company raised its full-year outlook for sales, adjusted EPS, and free cash flow.
Sales increased by 21% compared to the prior year, with organic sales up 17%.
GAAP EPS was $0.43, and adjusted EPS was $0.48.
Net cash flow from operating activities was $184 million, and free cash flow was $131 million.
Full-year 2021 sales growth outlook increased to 7% to 10%, with organic sales growth of 5% to 8%.
Carrier
Carrier
Forward Guidance
Carrier announced an updated outlook for 2021.
Positive Outlook
- Sales growth of 7% to 10%, up from 6% to 8%.
- Organic sales growth of 5% to 8%, up from 4% to 6%.
- Currency translation to add approximately 2%.
- Adjusted operating margin of about 13.5%.
- Adjusted EPS of $1.95 to $2.05, up from $1.85 to $1.95.