Carrier (CARR) to Report Q4 Earnings: What's in the Cards?
Carrier Global CARR is scheduled to report its fourth-quarter 2023 results on Feb 6.
CARR expects sales in the band of $22.1-$22.2 billion with mid-single-digit organic sales growth for the to-be-reported quarter.
The Zacks Consensus Estimate for 2023 revenues is pegged at $22.25 billion, indicating 8.94% year-over-year growth.
Carrier anticipates earnings to be nearly $2.70 per share. The Zacks Consensus Estimate is currently pegged at $2.72, unchanged in the past 30 days.
Carrier Global Corporation Price and EPS Surprise
Carrier Global Corporation price-eps-surprise | Carrier Global Corporation Quote
Carrier’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 6.04%.
Let’s see how things have shaped up for the upcoming announcement.
Factors to Note
Carrier’s strong momentum in the Heating, Ventilating and Air Conditioning (HVAC) is expected to have contributed to the top-line growth in the fourth quarter.
The increasing demand for CARR’s healthy, safe, sustainable and intelligent building offerings and cold chain solutions is expected to have driven the HVAC segment’s performance.
The Zacks Consensus Estimate for fourth-quarter HVAC revenues is pegged at $3.48 billion, indicating 5% year-over-year growth.
The acquisition of Viessmann Climate Solutions is expected to have been a significant growth driver in intelligent climate and energy solutions. Viessmann Climate Solutions is positioned for continued growth in the European decarbonization trend.
Management expects organic sales growth in the container business, commercial refrigeration and the entire Refrigeration segment. The upside is expected to have contributed well to overall top-line growth in the quarter under review.
The Zacks Consensus Estimate for fourth-quarter Refrigeration segment revenues is pegged at $958 million, indicating 1.6% year-over-year growth.
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. That’s the exact case here.
Carrier has an Earnings ESP of +6.20% 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.
Stocks to Consider
Here are a few companies worth considering, as our model shows that these, too, have the right combination of elements to beat on earnings in their upcoming releases:
BlackLine BL has an Earnings ESP of +2.62% and a Zacks Rank #1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
BlackLine is scheduled to release fourth-quarter 2023 results on Feb 13. BL’s shares have gained 10.1% in the past six months.
Twilio TWLO has an Earnings ESP of +31.37% and a Zacks Rank #2.
Twilo is set to announce fourth-quarter 2023 results on Feb 14. TWLO’s shares have gained 15.5% in the past six months.
Bill Holdings BILL has an Earnings ESP of +6.17% and a Zacks Rank #3.
Bill Holdings is set to announce second-quarter fiscal 2024 results on Feb 8. BILL’s shares have declined 33.4% in the past six months.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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