Carrier sales up 17%
25th April 2024
USA: Carrier achieved net sales of $6.2bn in Q1, a 17% rise on the same period last year. Organic sales were up 2%.
Approximately 16% of the rise was contributed from the acquisition of Viessmann Climate Solutions, offset by about 1% from divestitures.
Carrier reports that HVAC sales in the Americas were up mid-single-digits driven by continued strength in commercial and light commercial HVAC both of which were up approximately 20%. This is said to have been partially offset by residential HVAC which was down low-single-digits.
HVAC organic sales in EMEA were down 10% with commercial HVAC up around 10% which was more than offset by a significant decline in EMEA residential and light commercial. The organic figures exclude the contribution of Viessmann Climate Solutions which was down 12% year-over-year in the quarter, more than half of which was driven by lower solar PV sales.
HVAC sales in Asia Pacific were flat with strong growth in China offset by lower sales in Japan.
Refrigeration sales were down 2% organically driven by North America truck and trailer and commercial refrigeration, mostly offset by over 50% growth in container.
