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
Carrier Revenue by Segment
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income