Carrier (CARR) to Report Q3 Earnings: What's in the Cards?
Carrier Global CARR is scheduled to report its third-quarter 2023 results on Oct 26.
The Zacks Consensus Estimate for third-quarter sales is pegged at $5.85 billion, indicating a rise of 7.4% year over year.
The Zacks Consensus Estimate for earnings is pegged at 78 cents per share, indicating an increase of 11.3% year over year.
Carrier’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and matched the same on the other occasion, the earnings surprise being 4.44%, on average.
Let’s see how things have shaped up for the upcoming announcement:
Factors to Consider
Carrier’s strong momentum in the Heating, Ventilating and Air Conditioning (HVAC) segment is expected to have contributed well to top-line growth in the third quarter.
Carrier Global Corporation Price and EPS Surprise
Carrier Global Corporation price-eps-surprise | Carrier Global Corporation Quote
Increasing demand for CARR’s healthy, safe, sustainable & intelligent building offerings and cold chain solutions is expected to have benefited the performance of the HVAC segment.
This apart, Carrier’s growing momentum across the core, aftermarket and digital offerings is expected to have benefited its second-quarter performance.
Solid traction across entailed system-level solutions, including hardware, controls and aftermarket, is expected to have contributed well to overall top-line growth in the quarter under review.
What Our Model Says
According to the Zacks model, the combination of a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Carrier has an Earnings ESP of +4.16% and carries a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks to Consider
Here are a few other companies worth considering, as our model shows that these, too, have the right combination of elements to beat on earnings in their upcoming releases:
GoDaddy GDDY has an Earnings ESP of +14.09% and sports a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
GoDaddy shares have declined 1.5% year to date. GDDY is set to report its third-quarter 2023 results on Nov 2.
Pinterest PINS has an Earnings ESP of +1.21% and a Zacks Rank #1.
Pinterest shares have gained 9.7% year to date. PINS is set to report its third-quarter 2023 results on Oct 30.
Intel INTC has an Earnings ESP of +12.98% and has a Zacks Rank of 2 at present.
Intel shares have gained 28.1% year to date. INTC is set to report its third-quarter 2023 results on Oct 26.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Carrier Global Corporation (CARR) : Free Stock Analysis Report
