Carrier Reports First Quarter 2026 Results
Carrier reported Q1 revenue of $5.34 billion, up 2% year-over-year, driven by a 3% FX tailwind that offset a 1% decline in organic sales. While margins compressed due to residential weakness, orders surged 11% overall, led by a 35% increase in Commercial HVAC and data center orders growing over 500%. The company generated $79 million in operating cash flow but recorded negative free cash flow of $15 million due to higher capital expenditures. Despite the margin pressure, Carrier returned approximately $500 million to shareholders through dividends and repurchases.
Key figures
- Eps
- 0.28
- Guidance
- FY26 Sales ~$22B, Adjusted EPS ~$2.80, FCF ~$2B (reaffirmed)
- Adjusted eps
- 0.57
- Returned to shareholders
- $500 million
- Data center orders growth
- over 500%
- Total company orders growth
- 11%
- Commercial hvac orders growth
- 35%
AI analysis
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