Yahoo Finance Carrier Global (CARR) Reports Q2: Everything You Need To Know Ahead Of Earnings
Heating, ventilation, air conditioning, and refrigeration company Carrier Global (NYSE:CARR) will be reporting earnings tomorrow morning. Here's what investors should know.
Carrier Global missed analysts' revenue expectations by 2.4% last quarter, reporting revenues of $6.18 billion, up 17.2% year on year. It was a slower quarter for the company, with a miss of analysts' organic revenue estimates.
Is Carrier Global a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Carrier Global's revenue to grow 18% year on year to $7.07 billion, improving from the 15% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.85 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Carrier Global has missed Wall Street's revenue estimates four times over the last two years.
Looking at Carrier Global's peers in the building products segment, some have already reported their Q2 results, giving us a hint as to what we can expect. A. O. Smith delivered year-on-year revenue growth of 6.6%, beating analysts' expectations by 2.5%, and Apogee reported a revenue decline of 8.3%, in line with consensus estimates. Apogee traded up 6.6% following the results.
Read our full analysis of A. O. Smith's results here and Apogee's results here.
There has been positive sentiment among investors in the building products segment, with share prices up 8.3% on average over the last month. Carrier Global is up 7% during the same time and is heading into earnings with an average analyst price target of $66.9 (compared to the current share price of $68.4).
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