开利二季度业绩超预期并上调全年销售、调整后经营利润和EPS指引

Increases Full-year Outlook for Sales, Adj. Op. Profit and Adj. EPS
Total company orders 1 up ~40%; Commercial HVAC 1 up ~65%; data centers up >300%
Net sales up 4%; organic sales up 3%
GAAP EPS of $0.60 and adjusted EPS of $0.86
Net cash flows from operating activities of $927 million and free cash flow of $810 million
Returned ~$640 million to shareholders through dividends and repurchases
Raises full year outlook to ~$23B sales, ~$3.5B adj. op. profit and ~$2.90 adj. EPS Includes ~($0.05) adj. EPS impact from NORESCO exit and new U.S. factory costs

PALM BEACH GARDENS, Fla. , July 28, 2026 /PRNewswire/ -- Carrier Global Corporation  (NYSE: CARR), global leader in intelligent climate and energy solutions, today reported better than expected financial results for the second quarter of 2026.

"We ended the first half with a stronger than expected second quarter, including better sales, adjusted EPS and free cash flow," said Chairman & CEO David Gitlin. "Organic sales returned to growth earlier than expected, up 3%, driven by strong performance in our CSA segment. Improving Residential and Light Commercial markets in CSA and CSE are encouraging. Orders were very strong globally in the second quarter supported by continued data center demand. Given record backlog levels and our year-to-date performance, we are raising our full-year outlook and now expect sales of about $23 billion and adjusted EPS of ~$2.90."
1 Excludes NORESCO (exit announced) and Riello (exit completed on July 1, 2026)

Second Quarter 2026 Results
Total Company

(Unaudited)

Three Months Ended
June 30

(In millions)
2026
2025
Change

Net sales
$    6,351
$    6,113
4 %

Organic sales
3 %

Operating profit
$       825
$       903
(9) %

Operating margin
13.0 %
14.8 %
(180) bps

Adjusted operating profit
$    1,095
$    1,166
(6) %

Adjusted operating margin
17.2 %
19.1 %
(190) bps

Diluted earnings per share:

Continuing operations
$      0.60
$      0.70
(14) %

Continuing operations - Adjusted
$      0.86
$      0.92
(7) %

Carrier's second-quarter sales of $6.4 billion increased 4% compared to the prior year. Organic sales increased 3% and foreign currency translation was a tailwind of 1%.
GAAP operating profit of $825 million in the quarter declined 9 %  from last year, driven primarily by the Climate Solutions Americas (CSA) and Climate Solutions Asia Pacific, Middle East and Africa segments (CSAME).
Adjusted operating margin of 17.2% was down 190 basis points from last year, predominantly due to favorable volume and productivity more than offset by the impact of increased input costs and unfavorable business mix.
Net earnings from continuing operations were $501 million and adjusted net earnings from continuing operations were $721 million. GAAP EPS from continuing operations was $0.60 and adjusted EPS was $0.86, down 14% and 7% year-over-year, respectively. The declines were primarily driven by lower operating profit and a higher effective tax rate, partially offset by the benefit of a lower share count.
Climate Solutions Americas (CSA)

(Unaudited)

Three Months Ended
June 30

(In millions)
2026
2025
Change

Net sales
$    3,372
$    3,252
4 %

Organic sales
4 %

Segment operating profit
$       823
$       879
(6) %

Segment operating margin
24.4 %
27.0 %
(260) bps

CSA segment sales grew 4%. Organic sales were up 4% driven by Residential and Light Commercial (RLC), up 9% and 10% respectively, partially offset by Commercial 1 , down 8% due to the timing of customer deliveries.
Segment operating margin decreased 260 basis points as revenue growth mainly related to price which was more than offset by unfavorable mix and input costs.
Climate Solutions Europe (CSE)

(Unaudited)

Three Months Ended
June 30

(In millions)
2026
2025
Change

Net sales
$    1,324
$    1,253
6 %

Organic sales
3 %

Segment operating profit
$         95
$         99
(4) %

Segment operating margin
7.2 %
7.9 %
(70) bps

CSE segment sales increased 6%. Organic sales were up 3% with RLC up high-single digits and Commercial down mid-single digits.
Segment operating margin decreased 70 basis points driven by volume growth and favorable price / cost more than offset by unfavorable mix and selling investments.
1 Excludes NORESCO

Climate Solutions Asia Pacific, Middle East & Africa (CSAME)

(Unaudited)

Three Months Ended
June 30

(In millions)
2026
2025
Change

Net sales
$      917
$      882
4 %

Organic sales
4 %

Segment operating profit
$      108
$      135
(20) %

Segment operating margin
11.8 %
15.3 %
(350) bps

CSAME segment sales increased 4%. Organic sales were up 4% driven by double-digit growth in India, the Middle East, Southeast Asia and Australia partially offset by continued pressure in RLC in China.
Segment operating margin decreased 350 basis points driven by volume growth and productivity more than offset by unfavorable mix and lower JV income due to the impacts from the Middle East conflict.
Climate Solutions Transportation (CST)

(Unaudited)

Three Months Ended
June 30

(In millions)
2026
2025
Change

Net sales
$      738
$      726
2 %

Organic sales
— %

Segment operating profit
$      118
$      128
(8) %

Segment operating margin
16.0 %
17.6 %
(160) bps

CST sales increased 2% driven by strong growth in Container. Organic sales were flat as strong Container growth of ~40% was offset by low-teens declines in Global Truck and Trailer.
Segment operating margin declined 160 basis points, due to unfavorable mix from lower Global Truck and Trailer volume offset by higher Container volume.
Cash Flow

(Unaudited)

(Unaudited)

Three Months Ended
June 30,

Six Months Ended
June 30,

(In millions)

2026

2025

2026

2025

Net cash flows provided by operating activities

$       927

$       649

$     1,006

$     1,132

Less: Capital expenditures

(117)

(81)

(211)

(144)

Free cash flow

$       810

$       568

$        795

$        988

Net cash flows generated from operating activities were $927 million and capital expenditures were $117 million, resulting in free cash flow of $810 million.
Full-Year 2026 Guidance**

Current Guidance**
Prior Guidance

Sales
~$23 billion

Organic* up ~M-HSD
FX 1%
Net, Acquisitions / Divestitures (2%)
~$225 million and ~$125 million year-over-
year revenue headwind from Riello and
NORESCO exits, respectively
~$22 billion

Organic* flat to up LSD
FX 1%
Net, Acquisitions / Divestitures (1%)
~$250 million year-over-year revenue
headwind from Riello exit

Adjusted Operating Profit*
~$3.5 billion
~$3.4 billion

Adjusted EPS*
~$2.90
~$2.80

Free Cash Flow*
~$2 billion
~$2 billion

Riello divestiture completed on July 1 st . NORESCO divestiture announced.

*Note: When the company provides expectations for organic sales, adjusted operating profit, adjusted EPS and free cash flow on a forward-looking basis, a reconciliation of the differences between the non-GAAP expectations and the corresponding GAAP measures generally is not available without unreasonable effort. See "Use and Definitions of Non-GAAP Financial Measures" below for additional information.

**As of July   28, 2026
Conference Call
Carrier will host a webcast of its earnings conference call today, Tuesday, July 28, 2026, at 7:30 a.m. ET. To access the webcast, visit the Events & Presentations section of the Carrier Investor Relations site. For alternative dial-in information, please contact Carrier investor relations at InvestorRelations@Carrier.com .
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, based on assumptions currently believed to be valid. Forward-looking state