Carrier Q1 2023 Earnings Report
Key Takeaways
Carrier Global Corporation reported first quarter 2023 results with net sales up 13% and organic sales up 4%. GAAP EPS was $0.44 and adjusted EPS was $0.52. Net cash inflows from operating activities were $120 million and free cash flow generation was $50 million. The company reaffirmed its full-year 2023 guidance for sales, adjusted operating margin, adjusted EPS, and free cash flow.
Net sales increased by 13% compared to the first quarter of 2022, with organic sales up by 4%.
GAAP EPS was reported at $0.44, while adjusted EPS reached $0.52.
Net cash inflows from operating activities amounted to $120 million, with a free cash flow of $50 million.
Full-year 2023 guidance for sales, adjusted operating margin, adjusted EPS, and free cash flow was reaffirmed.
Carrier
Carrier
Forward Guidance
Carrier reaffirmed the following guidance for 2023: Sales of ~$22B, Organic Sales up LSD-MSD, Adjusted Operating Margin of ~14% (includes ~50bps negative impact from Toshiba Carrier Corp. (TCC)), Adjusted EPS of $2.50 - $2.60, and Free Cash Flow of ~$1.9B.