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Jun 30, 2020
Carrier Q2 2020 Earnings Report
Second quarter results exceeded expectations, with strong performance enabling partially restoring strategic investments and capital spending in the second-half of 2020.
Key Takeaways
Carrier's second quarter sales were $4.0 billion, down 20% compared to last year and down 19% organically. GAAP EPS was $0.30 and adjusted EPS was $0.33. Net income was $261 million and free cash flow was $463 million.
Second quarter sales of $4.0 billion
GAAP EPS of $0.30 and adjusted EPS of $0.33
Strong performance enables partially restoring strategic investments and capital spending in second-half of 2020
Order strength in June, particularly in North America
Forward Guidance
Carrier has revised the low-end of its prior 2020 outlook and now anticipates a full-year outlook that reflects partially restoring strategic investments and capital spending in the second-half of 2020.
Positive Outlook
- Sales of $15.5 to $17.0 billion, up from $15.0 to $17.0 billion
- Adjusted operating profit of $1.8 to $2.0 billion, up from $1.7 to $2.0 billion
- Free cash flow of at least $1.1 billion, up from at least $1.0 billion
Historical Earnings Impact
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Avg. Return Before/After Earnings
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