Carrier reports strong first quarter

USA: Carrier Global Corporation has reported sales of $5.2bn, down 4% on 2024 due mainly to the sale of its commercial refrigeration business. Organic sales were up 2%. 

Hailing “another quarter of strong financial performance”, Carrier chairman and CEO David Gitlin said: “Adjusted EPS grew 27% with adjusted operating margins expanding 210 basis points on 2% organic sales growth. 

“Sales for the commercial and residential businesses within Climate Solutions Americas were each up about 20%.  Total company orders were up high-single-digits, backlogs increased over 15% sequentially and about 10% year-over-year, positioning us for accelerated growth further fuelled by differentiated products, aftermarket offerings and system solutions.”