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Carrier (CARR) to Report Q3 Earnings: What's in the Cards?

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Carrier Global Corporation CARR is scheduled to report third-quarter 2021 results on Oct 28.

The Zacks Consensus Estimate for third-quarter earnings is pegged at 66 cents per share, suggesting a decline of 1.5% from the figure reported in the year-ago period. Further, the estimated figure has moved 1.5% downward over the past 30 days.

The consensus mark for revenues is pegged at $5.34 billion, implying 6.8% growth from the figure reported in the year-ago quarter.

Carrier beat on earnings in three of the trailing four quarters and missed the same on one occasion, with the average surprise being 15.99%.

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

Strong demand for residential HVAC and improvement in the refrigeration business are likely to have remained key factors in driving Carrier’s third-quarter performance.

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

Rising investments in cold chain solutions and solutions related to healthy, safe, and sustainable building might have benefited the company’s quarterly performance.

During the quarter, Carrier unveiled ductless single-zone hybrid solutions that offer homeowners versatility and energy efficiency.

Additionally, it launched the Infinity return air purifier that filters 99% of select airborne viruses, germs, including coronavirus, trapped by the MERV 15 filter and creates a healthier home.

These introductions are anticipated to have aided the company’s performance in the to-be-reported quarter.

Further, theacquisition of the remainder of Guangdong Giwee Group and its subsidiary, Guangdong Chigo Heating & Ventilation Equipment, is expected to have contributed to top-line growth in the third quarter.

Strong demand for residential and light commercial businesses is likely to get reflected in the upcoming quarterly results.

The company has been gaining momentum for BlueEdge offerings and the Abound platform. This is anticipated to have remained a tailwind in the quarter under discussion.

Yet, uncertainties related to the coronavirus pandemic might get reflected in the upcoming quarterly results. Also, supply-chain constraints are likely to have remained overhangs.

Further, expenses related to acquisitions are expected to have affected its third-quarter performance.

What Our Model Says

Our proven model does not conclusively predict 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. But that’s not the case here. 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 -1.52% and a Zacks Rank #3, at present.

Stocks to Consider

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

Trimble TRMB has an Earnings ESP of +3.64% and a Zacks Rank of 2, at present.

Lyft LYFT has an Earnings ESP of +11.77% and a Zacks Rank of 2, at present.

PerkinElmer PKI has an Earnings ESP of +5.20% and a Zacks Rank of 2, at present. You can see the complete list of today’s Zacks #1 Rank stocks here.


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Trimble Inc. (TRMB) : Free Stock Analysis Report

PerkinElmer, Inc. (PKI) : Free Stock Analysis Report

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Carrier Global Corporation (CARR) : Free Stock Analysis Report

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