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Carrier Global (CARR) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended March 2023, Carrier Global (CARR - Free Report) reported revenue of $5.27 billion, up 13.3% over the same period last year. EPS came in at $0.52, compared to $0.54 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $5 billion, representing a surprise of +5.42%. The company delivered an EPS surprise of +6.12%, with the consensus EPS estimate being $0.49.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Carrier Global performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- HVAC: $3.62 billion versus $3.35 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +22% change.
Revenue- Eliminations and other: -$116 million versus -$108.02 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +5.5% change.
Revenue- Fire & Security: $869 million compared to the $819.74 million average estimate based on four analysts. The reported number represents a change of +6.2% year over year.
Revenue- Refrigeration: $898 million versus $909.37 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -8% change.
Adjusted Operating profit- HVAC: $490 million versus the three-analyst average estimate of $472.73 million.
Adjusted Operating profit- Fire & Security: $108 million versus $118.45 million estimated by three analysts on average.
Adjusted Operating profit- Refrigeration: $111 million compared to the $102.72 million average estimate based on three analysts.
Shares of Carrier Global have returned -5.4% over the past month versus the Zacks S&P 500 composite's +4.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Carrier Global (CARR) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended March 2023, Carrier Global (CARR - Free Report) reported revenue of $5.27 billion, up 13.3% over the same period last year. EPS came in at $0.52, compared to $0.54 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $5 billion, representing a surprise of +5.42%. The company delivered an EPS surprise of +6.12%, with the consensus EPS estimate being $0.49.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Carrier Global performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue- HVAC: $3.62 billion versus $3.35 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +22% change.
- Revenue- Eliminations and other: -$116 million versus -$108.02 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +5.5% change.
- Revenue- Fire & Security: $869 million compared to the $819.74 million average estimate based on four analysts. The reported number represents a change of +6.2% year over year.
- Revenue- Refrigeration: $898 million versus $909.37 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -8% change.
- Adjusted Operating profit- HVAC: $490 million versus the three-analyst average estimate of $472.73 million.
- Adjusted Operating profit- Fire & Security: $108 million versus $118.45 million estimated by three analysts on average.
- Adjusted Operating profit- Refrigeration: $111 million compared to the $102.72 million average estimate based on three analysts.
View all Key Company Metrics for Carrier Global here>>>Shares of Carrier Global have returned -5.4% over the past month versus the Zacks S&P 500 composite's +4.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.