Carrier reports sales down 20%

USA: Refrigeration and air conditioning manufacturer Carrier has reported second quarter sales of $4bn, down 20% compared to last year and down 19% organically.

GAAP operating profit in the quarter of $442m was down 45%, and adjusted operating profit of $476m was down 42%.

While the decline was largely driven by the impact of the Covid-19 pandemic, Carrier saw demand improve as the second quarter progressed and economic activity resumed. 

“Our second quarter results exceeded our expectations, and our team continued to perform well in a very challenging environment,” said Carrier president and CEO Dave Gitlin. 

“We were pleased with our order strength in June, particularly in North America,” he added.