Carrier Global Corporation: Fourth Quarter and Full Year 2024 Financial Highlights
Carrier Global Corporation, a leading provider of intelligent climate and energy solutions, recently announced its financial results for the fourth quarter and full year of 2024. The company reported impressive growth, with sales in the fourth quarter reaching $5.1 billion, marking a 19% increase compared to the same period in 2023. Organic growth accounted for 6% of this increase.
GAAP EPS from continuing operations for the quarter came in at ($0.05), while adjusted EPS from continuing operations was $0.54, representing a 50% increase. Operating margin expansion amounted to 250 basis points, and adjusted operating margin expansion reached 370 basis points.
Full Year 2024 Financial Results
For the full year of 2024, Carrier Global Corporation recorded sales of $22.5 billion, a 19% year-over-year increase, including a 3% organic growth rate. GAAP EPS from continuing operations was $1.22, while adjusted EPS from continuing operations stood at $2.56, reflecting a 16% growth. Operating margin expansion was 40 basis points, and adjusted operating margin expansion was 180 basis points.
Returning Value to Shareholders
Carrier Global Corporation returned approximately $2.6 billion to its shareholders during 2024. This included $0.7 billion in dividends and $1.9 billion in share repurchases.
Impact on Consumers
The strong financial performance of Carrier Global Corporation is likely to lead to continued innovation and investment in intelligent climate and energy solutions. This could result in more energy-efficient and cost-effective products and services for consumers, as well as improved customer support and after-sales services.
Impact on the World
Carrier Global Corporation’s focus on intelligent climate and energy solutions is essential in addressing the global challenge of reducing greenhouse gas emissions and mitigating the effects of climate change. The company’s financial success provides a strong foundation for further investment in research and development of sustainable technologies, contributing to a more sustainable future for all.
Conclusion
Carrier Global Corporation’s impressive financial results for the fourth quarter and full year of 2024 demonstrate the company’s commitment to delivering innovative climate and energy solutions that meet the evolving needs of consumers and contribute to a more sustainable future. The continued growth and expansion of the company’s operating margins, coupled with its commitment to returning value to shareholders, position Carrier Global Corporation as a leader in its industry and a key player in the global transition to a low-carbon economy.
- Carrier Global Corporation announced strong financial results for Q4 and FY 2024
- Sales in Q4 were $5.1 billion, up 19% YoY, with 6% organic growth
- GAAP EPS from continuing operations was ($0.05), while adjusted EPS was $0.54, up 50%
- Operating margin expansion was 250 basis points, and adjusted operating margin expansion was 370 basis points
- Full year sales were $22.5 billion, up 19% YoY, with 3% organic growth
- GAAP EPS from continuing operations was $1.22, while adjusted EPS was $2.56, up 16%
- Operating margin expansion was 40 basis points, and adjusted operating margin expansion was 180 basis points
- Approximately $2.6 billion was returned to shareholders, including $0.7 billion in dividends and $1.9 billion in share repurchases
- Continued growth and investment in sustainable technologies will benefit consumers and the world
