According to analysts surveyed by FactSet, Carrier Global, a manufacturer of HVAC products and other equipment, is expected to report a profit of 76 cents per share for the second quarter, compared to 67 cents per share in the same period last year. Wall Street anticipates adjusted earnings of 77 cents per share.
The company is forecasted to generate $5.83 billion in revenue for the quarter, up from $5.21 billion in the corresponding period a year ago.
Key Points to Watch Out For
In April, Carrier Global announced its acquisition of Viessmann Climate Solutions for over $13 billion. This strategic move aims to expand the air-conditioner maker’s business beyond the United States. The Wall Street Journal reported on this transformation effort earlier this year. Additionally, Carrier is working on a plan to sell or spin off its Fire & Security segment, as reported by The Journal.
In May, Carrier-owned Kidde-Fenwal, an industrial fire-detection and suppression business, filed for bankruptcy to address over 4,000 lawsuits related to the past sale of firefighting foam allegedly containing “forever chemicals” known as PFAS. Investors will be observing any indications that the parent company, Carrier, is preparing to take responsibility for any liabilities tied to these legal proceedings.