Carrier sales up 15%

USA: Carrier has recorded second quarter sales of $6bn, a 15% increase on 2022. 

Organic sales grew 6% in the same period, with strong sales in its HVAC segment. Commercial HVAC sales were reported to be up the “high-teens” and North America residential and light commercial HVAC up 5% organically. 

Fire and Security sales were up 9% organically but Carrier’s refrigeration sales were down 6%, driven by lower volumes in container and commercial refrigeration. This was only partially offset by strength in global truck and trailer demand.

“Given our strong performance in the first half of 2023, we are now raising full year guidance for organic revenue growth, adjusted operating margin, and adjusted EPS,” said Carrier chairman and CEO David Gitlin. 

“The more we learn about Viessmann Climate Solutions, the more excited we are for the impact of this game-changing combination,” he said referring to the recent acquisition of the German heating manufacturer. 

Regarding Carrier’s planned divestment of its fire and security business, which was announced at the time of the Viessmann acquisition, Gitlin said: “We continue to anticipate a close around year-end and expect the majority of the businesses we plan to exit to be in the market over the course of the next few months. After the completion of these portfolio actions, Carrier will become a pure play, high-growth global climate champion.”