Loading...
•
Sep 30, 2023
Carrier Q3 2023 Earnings Report
Reported strong financial results and raised full year adjusted operating margin and adjusted EPS guidance.
Key Takeaways
Carrier's Q3 2023 results showed a 5% increase in sales compared to the prior year, with organic sales up 3%. The company reported GAAP EPS of $0.42 and adjusted EPS of $0.89. Net cash inflows from operating activities were $1.04 billion, and free cash flow generation was $949 million. The company is increasing adjusted EPS guidance for 2023 from $2.55 - $2.65 to approximately $2.70.
Net sales increased by 5% compared to Q3 2022, with organic sales up 3%.
GAAP EPS was $0.42, and adjusted EPS was $0.89.
Net cash inflows from operating activities reached $1.04 billion, with free cash flow of $949 million.
Adjusted EPS guidance for 2023 increased from $2.55 - $2.65 to approximately $2.70.
Forward Guidance
Carrier updated its full-year 2023 guidance, expecting sales over $22 billion, organic sales up in the mid-single digits, adjusted operating margin of approximately 14.5%, adjusted EPS of approximately $2.70, and free cash flow over $1.9 billion.
Positive Outlook
- Sales over $22B
- Organic sales up MSD
- FX ~0%
- Acquisitions / Divestitures, net +~5%
- Adjusted Operating Margin *~ 14.5%
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...