Summary
Carrier Global Corp. reported solid revenue growth for the second quarter of 2025, driven primarily by its Climate Solutions Americas segment. Total net sales increased by 3% year-over-year, reaching $6.1 billion, with organic sales up 6%. This growth was supported by strong volumes and pricing actions, which also contributed to a significant 12% increase in gross margin, expanding to 28.9% of net sales. Despite some headwinds in the Asia Pacific and Transportation segments, the company demonstrated operational resilience. Profitability saw a substantial improvement, with operating profit rising 25% to $903 million. This was bolstered by the favorable impact of the prior year's inventory step-up and backlog amortization from the Viessmann acquisition now being fully amortized. While net earnings attributable to common shareholders decreased by 75% due to the absence of significant gains from discontinued operations in the prior year, the core business demonstrated strong underlying performance. The company continues to focus on strategic portfolio management and operational efficiency, which is reflected in its robust adjusted operating profit.
Financial Highlights
50 data points| Revenue | $6.11B |
| R&D Expenses | $161.00M |
| SG&A Expenses | $813.00M |
| Operating Expenses | $5.32B |
| Operating Income | $903.00M |
| Net Income | $591.00M |
| EPS (Basic) | $0.69 |
| EPS (Diluted) | $0.68 |
| Shares Outstanding (Basic) | 854.90M |
| Shares Outstanding (Diluted) | 866.30M |
Key Highlights
- 1Total net sales increased 3% to $6.1 billion for the second quarter of 2025 compared to the prior year, with organic sales growing 6%.
- 2Gross margin improved significantly, increasing 12% to $1.8 billion, and expanded 240 basis points to 28.9% of net sales, benefiting from the full amortization of prior year acquisition-related costs and pricing initiatives.
- 3Operating profit grew 25% to $903 million, reflecting strong sales performance and improved gross margins.
- 4Net earnings attributable to common shareholders declined 75% to $591 million, primarily due to the significant gains from discontinued operations in the prior year's quarter.
- 5The Climate Solutions Americas segment was a key driver of growth, with net sales up 14% and segment operating profit up 23% year-over-year.
- 6The company maintained a strong liquidity position with $1.8 billion in cash and cash equivalents as of June 30, 2025, and no outstanding borrowings under its revolving credit facility.
- 7Carrier Global announced a new $500 million Euro-denominated commercial paper program supported by its existing revolving credit facility.