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Dec 31, 2021
Carrier Q4 2021 Earnings Report
Reported strong financial results for the fourth quarter, capping a full year 2021 that exceeded expectations.
Key Takeaways
Carrier's Q4 2021 sales were $5.1 billion, up 12% compared to the prior year, with organic sales up 11%. GAAP EPS was $0.36 and adjusted EPS was $0.44. Net cash flow from operating activities was $913 million, and free cash flow was $775 million.
Sales of $5.1 billion, up 12% compared to 2020 including 11% organic growth
GAAP EPS of $0.36 and adjusted EPS of $0.44
Net cash flow from operating activities of $913 million
Free cash flow of $775 million
Carrier
Carrier
Forward Guidance
Carrier projects solid organic growth and adjusted operating margin expansion in 2022 and is well-positioned with a strong balance sheet with significant capital to deploy towards continued value creation.
Positive Outlook
- Sales of about $20 billion
- High single-digit organic sales growth
- Adjusted operating margin up ~75 bps
- Adjusted EPS of $2.20 - $2.30, up double-digits adjusting for the Chubb divestiture
- Free cash flow of ~$1.65 billion, which includes a ~$200 million tax payment related to the gain on the Chubb sale
Challenges Ahead
- Outlook excludes recently announced Toshiba acquisition, expected to close before the end of Q3 2022
- ~1% FX impact on sales
- ~10% Divestitures impact on sales
- Includes ~$200M in tax payments on Chubb gain
- Unspecified impacts of acquisitions