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Jun 30, 2022
Carrier Q2 2022 Earnings Report
Reported strong results driven by organic sales growth and margin expansion, while raising full-year earnings outlook.
Key Takeaways
Carrier Global Corporation reported a 4% decrease in net sales, but organic sales grew by 7%. The company's operating margin increased by 130 basis points, and GAAP EPS was $0.67 with adjusted EPS of $0.69. They are raising full-year 2022 adjusted EPS guidance range to $2.25 to $2.35.
Net sales decreased by 4% due to the Chubb divestiture, but organic sales increased by 7%.
Operating margin increased by 130 basis points, with price/cost being positive in the quarter.
GAAP EPS was $0.67, and adjusted EPS was $0.69.
The company is raising its full-year 2022 adjusted EPS guidance range to $2.25 to $2.35.
Forward Guidance
Carrier is announcing updated outlook for 2022. The revised 2022 outlook includes approximately $800 million of incremental sales from the consolidation of Toshiba Carrier Corporation.
Positive Outlook
- Organic sales up HSD
- Adjusted Operating Margin Up ~40 bps Y/Y
- Adjusted EPS $2.25 - $2.35
- Free Cash Flow $1.65B
Challenges Ahead
- FX ~(3%)
- Acq / Div, net ~(5%)
Historical Earnings Impact
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Avg. Return Before/After Earnings
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