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PALM BEACH GARDENS, Fla. - Carrier Global Corporation (NYSE: CARR), a leader in climate and energy solutions, has unveiled plans to invest an additional $1 billion in its U.S. operations over the next five years. This investment is projected to generate 4,000 new jobs across research and development (R&D), manufacturing, and field service roles.
The substantial investment will be used to expand existing facilities and establish a new advanced manufacturing site. This site will focus on producing components critical to Carrier’s Home Energy Management System (HEMS), including heat pumps and battery assemblies. The move is part of Carrier’s strategy to enhance its product offerings and capture growth in the climate solutions market, building on its strong market position with $22.3 billion in revenue and healthy gross profit margins of 27%.
Carrier’s CEO, David Gitlin, emphasized the dual benefits of the investment, highlighting the creation of skilled trade careers and the positioning of the company to deliver innovative solutions to its customers. The investment includes the acceleration of next-generation R&D efforts, such as liquid cooling technology for data centers and battery-enabled climate solutions.
The newly announced funding also encompasses Carrier’s TechVantage initiative, which was introduced in January. This initiative aims to recruit 1,000 service technicians and train over 100,000 climate solutions service and sales professionals within five years, addressing the skilled workforce demand for high-performance climate systems installation and servicing.
Over the past five years, Carrier has increased its U.S. workforce by about 20 percent, underscoring its commitment to U.S. manufacturing and economic growth. The company, headquartered in Palm Beach Gardens, is the largest U.S.-based firm in its sector and continues to focus on strengthening its manufacturing capabilities for sustained growth. InvestingPro analysis shows 11 analysts have revised their earnings upwards for the upcoming period, with the company expected to maintain profitability this year. For detailed insights and access to comprehensive financial analysis, including the Pro Research Report covering what really matters about CARR and 1,400+ other top stocks, visit InvestingPro.
This announcement is based on a press release statement from Carrier Global Corporation.
In other recent news, Carrier Global Corporation reported a strong start to 2025 with its first-quarter earnings surpassing Wall Street expectations. The company achieved an adjusted EPS of $0.65, exceeding the forecast of $0.58, and reported revenues of $5.22 billion, surpassing the anticipated $5.18 billion. Carrier Global also announced an acquisition to enhance its electrification strategy, acquiring Addvolt, a Portuguese company known for its transport electrification technology. This move is expected to bolster Carrier’s capabilities in power management and electronics. Additionally, Carrier Global returned $1.5 billion to shareholders and reduced its debt by $1.2 billion. The company raised its full-year EPS guidance to a range of $3.00-$3.10, reflecting confidence in its growth prospects. In terms of market actions, Carrier Ventures had previously invested in Addvolt, aligning with the company’s strategy to focus on sustainable solutions. The financial terms of the Addvolt acquisition were not disclosed.
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