Key Takeaways Comfort Systems is gaining from tech-driven demand, modular builds, and a $6.9B project backlog. Carrier expects mid-single-digit sales growth in 2025, with EPS up nearly 20% on pricing and productivity. FIX shares rose 57.1% in 3 months vs. CARR's 25.9%, with faster earnings growth and a premium valuation.Comfort Systems USA (FIX) and Carrier Global (CARR) both operate in the HVAC space, but they occupy distinct niches. Comfort Systems is a leading commercial HVAC contractor focused on desi ...

MINT HILL, N.C., July 16, 2025 /PRNewswire/ -- ER Services has earned the Carrier Factory Authorized Dealer designation and is now recognized among the best dealers in the U.S. and Canada. Carrier is a part of Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions.Carrier Factory Authorized Dealers must meet national performance and certification standards to achieve the factory endorsement. Additionally, they must demonstrate a longstanding commitment to the Carr ...

PALM BEACH GARDENS, Fla., July 8, 2025 /PRNewswire/ -- Carrier Global Corporation (NYSE: CARR), global leader in intelligent climate and energy solutions, will release its second quarter 2025 earnings on Tuesday, July 29, 2025 and host a conference call and webcast at 7:30 a.m. ET.The webcast and presentation will be available at ir.carrier.com. To listen to the earnings call by phone, participants must pre-register at the following link: Carrier Earnings Call Registration. All phone registrants will receiv ...

Core Insights - Carrier has enhanced its Abound Insights Assistant app to empower building managers and facilities teams in managing equipment operations and maintenance more effectively [1][4] - The app provides actionable insights and recommendations for over 25 categories of equipment, including HVAC and refrigeration, powered by the Abound Insights AI platform [2][4] Features and Functionality - The app notifies users of potential issues, such as refrigerant leaks, and provides detailed information and warnings to facilitate proactive maintenance [3][4] - A 'To-Do List' feature improves user experience by allowing prioritization of tasks based on equipment health and required skills, along with AI-generated repair recommendations [4][5] - The Live Connect feature offers real-time data access, health status, and repair recommendations, enabling comprehensive data analysis and trend identification [5][6] Company Overview - Carrier Global Corporation is a leader in intelligent climate and energy solutions, committed to innovation that enhances comfort, safety, and sustainability [7][8] - The company has a long history of advancements in climate solutions, improving lives and empowering critical industries since its founding in 1902 [7]

Industry Overview - The Zacks Building Products - Air Conditioner & Heating industry is positioned for long-term growth due to rising demand for energy-efficient solutions and smarter climate control technologies [1] - Companies are capitalizing on favorable policy trends and sustainability goals, increasing investments in digitalization, system upgrades, and green retrofits [1][2] - The industry includes designers, manufacturers, and marketers of products for heating, ventilation, air conditioning, and refrigeration markets [3] Market Dynamics - The residential market is driving momentum as homeowners prioritize comfort, efficiency, and indoor air quality [2] - Commercial and industrial demand is accelerating, particularly in high-tech environments requiring specialized cooling [2] - Industry leaders are enhancing market positions through service-based models and strategic acquisitions, ensuring steady revenue streams [2] Trends Influencing Growth - U.S. administration's pro-environmental moves are focusing on reducing greenhouse gas emissions, benefiting companies that provide clean and efficient energy systems [4] - The data center boom, driven by AI and cloud computing, is increasing demand for specialized HVAC solutions, presenting high-margin opportunities [5] - Technology upgrades and strategic acquisitions are driving growth, with companies investing in R&D and enhancing customer experience through digital platforms [6] Challenges and Risks - The housing market remains volatile, with higher interest rates and economic fluctuations potentially impacting renovation and construction activity [7] - Labor shortages, supply chain constraints, and rising regulatory compliance costs are significant challenges facing the industry [9] Performance Metrics - The Zacks Building Products - Air Conditioner & Heating industry ranks 67, placing it in the top 27% of over 250 Zacks industries, indicating bright prospects [10][11] - The industry's earnings estimates for 2025 have increased to $5.58 per share from $5.52, reflecting growing analyst confidence [12] Stock Performance - The industry has outperformed the broader Zacks Construction sector and the S&P 500 Composite over the past year, gaining 17.1% compared to the sector's 0.5% decline [14] - The industry is currently trading at a forward P/E of 28.43X, higher than the S&P 500's 22.11X and the sector's 17.96X [17] Company Highlights - **Comfort Systems USA, Inc.** has seen a surge in demand from advanced technology sectors, contributing to a record backlog of $6.9 billion and a 52.9% stock gain over the past year [20][21] - **Carrier Global Corporation** is focusing on innovative climate and energy solutions, with a 13.3% stock gain over the past year and an expected 18% earnings growth in 2025 [25][26]

Core Insights - Carrier Global Corporation successfully met its previous growth targets, achieving a 100 basis point margin increase and a 15% growth in EPS, exceeding the initial 10% target [3] - The company reported cash flow equal to net income, aligning with its financial goals [3] - The focus of the recent Investor Day was on accelerating growth, with a target growth rate of 6% to 8% per year, although the actual growth was recorded at 4% [4] Financial Performance - The company aimed for a 50 basis point margin increase per year but achieved a 100 basis point increase [3] - EPS growth was targeted at 10% annually, with actual growth reaching 15% [3] - Cash flow was successfully aligned with net income, indicating strong financial health [3] Growth Strategy - The primary focus of the Investor Day was on strategies to accelerate growth, addressing the gap between targeted and actual growth rates [4] - The company expressed a conservative outlook on market growth, estimating low single-digit growth globally [4]

Summary of Carrier Corporation's Investor Day Conference Company Overview - **Company**: Carrier Corporation - **Event**: Investor Day Conference - **Date**: Recent (specific date not provided) Key Industry Insights - **Market Growth**: Carrier aims for organic growth of 6% to 8% annually, although they grew only 4% in the previous year [2][90] - **Market Conditions**: The company is optimistic about recovery in Europe and China, particularly in residential markets, which have seen declines of 20% but are expected to stabilize [8][95] - **Aftermarket Growth**: The aftermarket segment, which constitutes 25% of Carrier's business, is projected to grow at double-digit rates, contributing approximately 2.5% to overall growth [4][91] Core Strategies 1. **Three-Pronged Growth Strategy**: - **Products**: Gaining market share through differentiated products and brands [4][91] - **Aftermarket**: Focused on increasing service penetration and parts capture rate from 25% to 65% [24][113] - **Systems**: Development of integrated solutions like Home Energy Management Systems (HEMS) and Quantum Leap for data centers [4][91] 2. **Market Share**: Carrier is the leading player in residential and commercial HVAC in the U.S., Germany, and across Europe and APAC [13][97] 3. **Operational Efficiency**: The company is focused on productivity initiatives, including supplier consolidation and factory productivity improvements, to enhance margins [36][122] Financial Performance - **Earnings Growth**: Carrier achieved a 15% growth in EPS against a target of 10% [2][89] - **Margin Expansion**: The company is committed to achieving at least 50 basis points of margin expansion annually, with a target of reaching 20% EBITDA margins in the medium term [34][42] Market Dynamics - **Inventory Management**: Carrier is addressing elevated inventory levels in residential markets due to a transition in refrigerants, aiming for a balanced inventory by working closely with distributors [54][56] - **Demand Trends**: The company does not see any cyclical peaks in commercial HVAC markets but notes strong demand in data centers and healthcare sectors [62][64] Challenges and Opportunities - **Tariff Impacts**: Carrier has accounted for a net impact of $300 million from tariffs, offset by price increases and supply chain adjustments [68][69] - **Heat Pump Market**: There is a significant shift towards heat pumps in Europe, driven by government incentives and a move away from fossil fuels [78][79] Conclusion Carrier Corporation is strategically positioned for growth through a focus on product differentiation, aftermarket services, and operational efficiencies. The company is optimistic about market recovery in key regions and is committed to enhancing shareholder value through margin expansion and prudent capital deployment strategies.

Summary of Carrier's Investor Day Conference Company Overview - **Company**: Carrier - **Industry**: HVAC (Heating, Ventilation, and Air Conditioning) and Climate Solutions - **Key Leadership**: Dave Gitlin (Chairman and CEO), Patrick Goris (CFO), Gurang (President of Climate Solutions Americas), Thomas Heim (President of Climate Solutions Europe) [5][3][93] Core Points and Arguments Strategic Priorities - Carrier aims to be the global leader in intelligent climate and energy solutions, focusing on talent, culture, and purpose [6][5]. - The company has undergone a transformation since its spin-off, establishing a new leadership team and a performance culture [8][10]. Financial Performance - Sales have increased by 30% and profits by over 80% since the spin-off, with margins expected to be 400 basis points higher than in 2020 [12]. - The HVAC business is projected to exceed $20 billion in sales, up from under $10 billion in 2020 [13]. - The company has reduced its leverage ratio from close to 4x to about 2x, providing ample capital for growth [12]. Growth Strategy - Carrier targets consistent growth of 6% to 8% over the medium term, driven by differentiated products, aftermarket services, and systems solutions [16][30]. - The growth formula includes contributions from market growth, aftermarket, and new product offerings [17]. Market Trends and Opportunities - Significant global demand for air conditioning is expected to rise, particularly in regions with extreme temperatures [18]. - The shift towards electric solutions and the increasing demand for transport refrigeration, especially in China and India, are key growth drivers [19]. - Carrier is positioned to address energy consumption challenges, as HVAC systems account for over 50% of home energy use during peak hours [19]. Product and Aftermarket Innovations - Carrier has increased R&D investment by 50% since the spin-off, leading to improved product differentiation and market share [20][21]. - The aftermarket business has seen double-digit growth, with a parts capture rate increasing from 20% to a target of 65% [26][27]. - The company has a large installed base of 45 million residential units, providing significant aftermarket opportunities [27]. Digital Transformation - Carrier is leveraging digital solutions to enhance customer engagement and operational efficiency, with over 3.5 million connected devices [29][40]. - AI-driven diagnostics and remote monitoring are being utilized to improve service delivery and customer satisfaction [43][60]. Capital Allocation and M&A Strategy - The company prioritizes organic growth, followed by selective M&A that aligns with strategic priorities [44][45]. - Carrier plans to deploy $10 billion of excess capital for further value creation [44]. Regional Insights - **Americas**: The Climate Solutions Americas segment reported $10.5 billion in revenue with a 22% operating margin, focusing on both residential and commercial markets [50]. - **Europe**: The Climate Solutions Europe segment aims to improve its adjusted operating margin from 9.4% to mid-teens levels, leveraging the combination with Fisman Climate Solutions [95]. Additional Important Insights - Carrier emphasizes a performance culture and continuous improvement as core to its operational strategy [39]. - The company is focused on reducing complexity in its product offerings, achieving a 50% reduction in SKU count [86]. - The integration of various technologies and systems is expected to enhance energy efficiency and customer value [36][38]. This summary encapsulates the key points discussed during Carrier's Investor Day, highlighting the company's strategic direction, financial performance, growth opportunities, and commitment to innovation in the HVAC industry.

2025 Investor Day May 19, 2025 Cautionary statement This communication contains statements which, to the extent they are not statements of historical or present fact, constitute "forward-looking statements" under the securities laws. From time to time, oral or written forward-looking statements may also be included in other information released to the public. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance ...

Core Viewpoint - Carrier Global Corporation is focused on accelerating growth through a transformed portfolio and strategic initiatives aimed at enhancing shareholder value [2][6]. Company Strategy - The leadership team emphasizes a simplified, focused, and balanced portfolio that supports organic growth and margin expansion [2][6]. - The company aims for a medium-term financial framework that targets 6-8% organic sales growth, over 50 basis points of adjusted operating margin expansion, and mid-teens adjusted EPS growth [6][7]. Financial Performance - Carrier has a proven track record of expanding adjusted operating margins, generating strong free cash flow, and increasing adjusted EPS growth [2]. - The company has approximately $15 billion available for capital deployment over the medium-term to enhance shareholder value [6]. Investor Engagement - Carrier is hosting its 2025 Investor Day to share its growth strategies and financial framework with investors [1][3]. - The event is being webcast live, indicating a commitment to transparency and investor communication [1]. Portfolio Transformation - As part of its transformation, Carrier revised its reportable segments to better align with its business strategy and improve management reporting [10]. - The adjusted operating profit measure now excludes restructuring costs and amortization of acquired intangible assets, enhancing clarity for investors [10]. Non-GAAP Financial Measures - Carrier utilizes non-GAAP financial measures such as organic sales, adjusted operating profit, and free cash flow to provide additional insights into its financial performance [12][14]. - These measures are intended to supplement GAAP results and offer a clearer picture of the company's operational efficiency and liquidity [11][14].