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PALM BEACH GARDENS - Carrier Global Corporation (NYSE:CARR) reported solid second quarter results with adjusted earnings per share of $0.92, slightly above the analyst consensus of $0.91, as the company benefited from strong organic sales growth and improved margins.
Carrier’s stock dipped slightly by 0.49% in pre-market trading following the report.
The intelligent climate and energy solutions provider posted revenue of $6.11 billion for the quarter, in line with analyst expectations and up 3% from the prior year. Organic sales increased 6%, offset by a 4% headwind from net acquisitions and divestitures, primarily due to the sale of Commercial Refrigeration in Q4 2024.
Adjusted operating profit rose 10% to $1.17 billion, with adjusted operating margin expanding 130 basis points to 19.1%. The company’s adjusted EPS of $0.92 represented a 26% increase from $0.73 in the same quarter last year.
"We delivered another quarter of strong financial performance," said Carrier Chairman & CEO David Gitlin. "Organic sales growth of 6% was driven by strong results in our Climate Solutions Americas segment, with Commercial sales up 45% and total company aftermarket sales up 13%."
The Climate Solutions Americas segment was the standout performer, with sales increasing 14% and operating margin expanding 210 basis points to 27%. Commercial Refrigeration’s divestiture positively impacted the Climate Solutions Transportation segment, where operating margin improved 340 basis points despite a 25% sales decline.
Net cash flows from operating activities were $649 million, with free cash flow of $568 million for the quarter. The company reaffirmed its full-year 2025 guidance, projecting revenue of approximately $23 billion and adjusted EPS of $3.00-$3.10, representing about 20% growth at the midpoint.
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