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Carrier (CARR) to Report Q1 Earnings: What's in the Cards?

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Carrier Global Corporation CARR is scheduled to report first-quarter 2022 results on Apr 28.

The Zacks Consensus Estimate for first-quarter earnings is pegged at 47 cents per share, suggesting a decrease of 2.1% from the figure reported in the year-ago period. Further, the estimated figure has been unchanged over the past 30 days.

The consensus mark for revenues is pegged at $4.52 billion, implying a 3.9% decline from the figure reported in the year-ago quarter.

Carrier beat on earnings in all the trailing four quarters, with the average being 16%.

Carrier Global Corporation Price and EPS Surprise

Carrier Global Corporation Price and EPS Surprise
Carrier Global Corporation Price and EPS Surprise

Carrier Global Corporation price-eps-surprise | Carrier Global Corporation Quote

Key Factors to Note

Carrier’s strong order momentum is expected to have continued aiding its performance in the first quarter.

Growing momentum across core, aftermarket and digital offerings is expected to have supported its performance in the quarter under review.

The company’s strength across residential HVAC and light commercial businesses might have continued supporting the to-be-reported quarter’s performance.

It has been consistently gaining order momentum in the Americas and EMEA regions. This is likely to have remained a positive in the underlined quarter.

Further, the quarterly performance is likely to have been driven by increasing investments in cold chain solutions and solutions related to healthy, safe, and sustainable building.

The company has been enhancing its focus on core areas. In this regard, CARR completed the sale of its Chubb fire and security business to APi Group Corporation for an enterprise value of $3.1 billion in the first quarter. This might have been a tailwind.

Further, the acquisition of Integrated Control Systems to bolster the building automation and controls business is expected to have contributed well to top-line growth in the first quarter.

CARR has been continuously gaining momentum for its BlueEdge offerings. During the quarter, the Marioff division extended its BluEdge Elite service agreement with Carnival Corporation & PLC to provide a comprehensive preventive maintenance program for Carnival’s fleet. This is anticipated to have been a tailwind.

Yet, uncertainties related to the coronavirus pandemic might get reflected in the upcoming quarterly results. Further, supply-chain constraints and mounting expenses related to acquisitions are expected to have affected its first-quarter performance.

What Our Model Says

Our proven model predicts an earnings beat for Carrier this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

It has an Earnings ESP of +2.13% and a Zacks Rank #3, at present.

Other Stocks to Consider

Here are some other stocks that you may also consider as our model shows that these too have the right combination of elements to beat on earnings this season.

Analog Devices ADI has an Earnings ESP of +2.17% and a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Analog Devices is scheduled to release second-quarter fiscal 2022 results on May 18. The Zacks Consensus Estimate for ADI’s earnings is pegged at $2.12 per share, suggesting an increase of 37.7% from the prior-year reported figure.

Cisco Systems CSCO has an Earnings ESP of +0.84% and a Zacks Rank #2 at present.

Cisco Systems is set to report third-quarter fiscal 2022 results on May 18. The Zacks Consensus Estimate for CSCO’s earnings is pegged at 86 cents per share, which suggests an increase of 3.61% from the prior-year reported figure.

HP HPQ has an Earnings ESP of +0.78% and a Zacks Rank #3 at present.

HP is scheduled to release second-quarter fiscal 2022 results on May 26. The Zacks Consensus Estimate for HPQ’s earnings is pegged at $1.06 per share, which suggests an increase of 13.98% from the prior-year reported figure.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.


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