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Carrier's (CARR) Nlyte Boosts HVAC Segment With New Solution
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Carrier Global’s (CARR - Free Report) data center management software company, Nlyte, has launched its Data Center Sustainability Compliance Reporting solution.
Notably, the solution streamlines environmental compliance reporting by providing a dashboard for sustainability scores, utilizing industry metrics to deliver a proprietary Data Center Sustainability Index (DCSI) composite score.
Notably, the DCSI score is a tool that assesses a data center's sustainability performance by comparing it to industry-defined benchmarks like energy consumption, power usage effectiveness, carbon usage effectiveness and water usage effectiveness, among others.
Further, the underlined solution assists data center operators in navigating emerging reporting frameworks like the EU Energy Efficiency Directive, the Singapore Scheme, and US Title 24's climate-related disclosure rule, to name a few, enabling them to streamline reporting processes and focus on sustainability improvements.
Nlyte Software, which is a part of Automated Logic Corporation, Carrier’s building-management solutions business, has added strength to the company’s HVAC segment on the back of its latest launch.
The latest launch is in sync with the company’s growing efforts to strengthen its footing in the global data center infrastructure management market.
Per a report from Mordor Intelligence, the global data center infrastructure management market is expected to hit $200.85 billion in 2023 and reach $270.95 billion by 2028, indicating a CAGR of 6.2% during the forecast period of 2023-2028.
Grand View Research expects the global data center infrastructure management market to witness a CAGR of 15.9% during the forecast period of 2022-2030.
Strong momentum in the promising data center management market will likely instill investor optimism in the stock.
Carrier has gained 35.6% on a year-to-date basis, outperforming the industry’s growth of 14.5%.
Strengthening HVAC Offerings
Apart from the latest launch, Carrier introduced AquaForce and AquaSnap, high-temperature heat pumps with 30-735 kW capacity, suitable for comfort heating and domestic hot water production, enabling carbon emissions and energy costs reduction.
Notably, Carrier launched a new high outdoor air system for WeatherExpert rooftop units, which can condition up to 100% outdoor air and can be integrated with space air conditioning and heating systems for schools, hotels, office buildings and retail spaces.
Further, Carrier released its latest i-Vu Pro v8.5 software for the i-Vu building automation system, offering enhanced security, efficient controller updates, and Message Queueing Telemetry Transport integration.
We believe that the above-mentioned endeavors will likely drive the HVAC segment’s performance in the days ahead.
Our model estimate for 2023 HVAC revenues stands at $15.34 billion, suggesting year-over-year growth of 14.4%.
Further, strong momentum in the HVAC segment will likely benefit Carrier’s overall financial performance, as it accounts for the majority of net sales.
For 2023, Carrier expects revenues to be $22 billion.
Image: Bigstock
Carrier's (CARR) Nlyte Boosts HVAC Segment With New Solution
Carrier Global’s (CARR - Free Report) data center management software company, Nlyte, has launched its Data Center Sustainability Compliance Reporting solution.
Notably, the solution streamlines environmental compliance reporting by providing a dashboard for sustainability scores, utilizing industry metrics to deliver a proprietary Data Center Sustainability Index (DCSI) composite score.
Notably, the DCSI score is a tool that assesses a data center's sustainability performance by comparing it to industry-defined benchmarks like energy consumption, power usage effectiveness, carbon usage effectiveness and water usage effectiveness, among others.
Further, the underlined solution assists data center operators in navigating emerging reporting frameworks like the EU Energy Efficiency Directive, the Singapore Scheme, and US Title 24's climate-related disclosure rule, to name a few, enabling them to streamline reporting processes and focus on sustainability improvements.
Nlyte Software, which is a part of Automated Logic Corporation, Carrier’s building-management solutions business, has added strength to the company’s HVAC segment on the back of its latest launch.
Carrier Global Corporation Price and Consensus
Carrier Global Corporation price-consensus-chart | Carrier Global Corporation Quote
Growth Prospects
The latest launch is in sync with the company’s growing efforts to strengthen its footing in the global data center infrastructure management market.
Per a report from Mordor Intelligence, the global data center infrastructure management market is expected to hit $200.85 billion in 2023 and reach $270.95 billion by 2028, indicating a CAGR of 6.2% during the forecast period of 2023-2028.
Grand View Research expects the global data center infrastructure management market to witness a CAGR of 15.9% during the forecast period of 2022-2030.
Strong momentum in the promising data center management market will likely instill investor optimism in the stock.
Carrier has gained 35.6% on a year-to-date basis, outperforming the industry’s growth of 14.5%.
Strengthening HVAC Offerings
Apart from the latest launch, Carrier introduced AquaForce and AquaSnap, high-temperature heat pumps with 30-735 kW capacity, suitable for comfort heating and domestic hot water production, enabling carbon emissions and energy costs reduction.
Notably, Carrier launched a new high outdoor air system for WeatherExpert rooftop units, which can condition up to 100% outdoor air and can be integrated with space air conditioning and heating systems for schools, hotels, office buildings and retail spaces.
Further, Carrier released its latest i-Vu Pro v8.5 software for the i-Vu building automation system, offering enhanced security, efficient controller updates, and Message Queueing Telemetry Transport integration.
We believe that the above-mentioned endeavors will likely drive the HVAC segment’s performance in the days ahead.
Our model estimate for 2023 HVAC revenues stands at $15.34 billion, suggesting year-over-year growth of 14.4%.
Further, strong momentum in the HVAC segment will likely benefit Carrier’s overall financial performance, as it accounts for the majority of net sales.
For 2023, Carrier expects revenues to be $22 billion.
Zacks Rank & Other Stocks to Consider
Currently, Carrier carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader technology sector are Asure Software (ASUR - Free Report) , Arista Networks (ANET - Free Report) and Aspen Technology (AZPN - Free Report) . While Asure Software sports a Zacks Rank #1 (Strong Buy), Arista Networks and Aspen Technology carry a Zacks Rank #2 each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Asure Software shares have gained 1.6% in the year-to-date period. ASUR’s long-term earnings growth rate is currently projected at 27%.
Arista Networks shares have gained 52% in the year-to-date period. The long-term earnings growth rate for ANET is currently projected at 18.75%
Aspen Technology shares have lost 0.2% in the year-to-date period. AZPN’s long-term earnings growth rate is currently projected at 17.12%.