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Jun 30, 2021
Carrier Q2 2021 Earnings Report
Reported strong revenue growth and raised full-year guidance for sales, adjusted EPS, adjusted operating margin and free cash flow.
Key Takeaways
Carrier Global Corporation reported strong second-quarter results with sales of $5.4 billion, up 37% compared to 2020, including 31% organic growth. GAAP EPS was $0.55 and adjusted EPS was $0.64. The company raised its full-year outlook for sales growth to 14% to 16%, adjusted EPS range to $2.10 to $2.20, and expected free cash flow to about $1.9 billion.
Sales of $5.4 billion, up 37% compared to 2020 including 31% organic growth
GAAP EPS of $0.55 and adjusted EPS of $0.64
Net cash flow from operating activities of $561 million and free cash flow of $482 million
Increased full-year 2021 sales growth outlook to 14% to 16%, 10% to 12% organic
Forward Guidance
Carrier is announcing the following updated outlook for 2021:
Positive Outlook
- Sales growth of 14% to 16%, up from 7% to 10%
- Organic sales growth of 10% to 12%, up from 5% to 8%
- Completed acquisitions to add approximately 1%
- Currency translation to add approximately 3%, up from approximately 2%
- Adjusted EPS of $2.10 to $2.20, up from $1.95 to $2.05
Challenges Ahead
- Adjusted operating margin greater than 13.5%
- Free cash flow of about $1.9 billion, up from about $1.7 billion
- Chubb is included in the full-year 2021 outlook
Historical Earnings Impact
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Avg. Return Before/After Earnings
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