Carrier (CARR) to Report Q4 Earnings: What's in the Cards?
Carrier Global Corporation CARR is scheduled to report its fourth-quarter 2022 results on Feb 7.
The Zacks Consensus Estimate for fourth-quarter sales is pegged at $5.08 billion, indicating a fall of 1.1% from the year-ago quarter’s reported value.
The Zacks Consensus Estimate for earnings is pegged at 40 cents per share, indicating a decrease of 9.1% from the year-ago quarter’s reported figure.
Carrier beat on earnings in all the trailing four quarters, the average being 12.42%.
Carrier Global Corporation Price and EPS Surprise
Carrier Global Corporation price-eps-surprise | Carrier Global Corporation Quote
Key Factors to Note
Carrier is likely to have benefited from solid momentum across its Heating, Ventilating and Air Conditioning (HVAC) segment.
Strength in North America residential and light commercial businesses is expected to have benefited its fourth-quarter performance.
CARR’s continuous innovation in energy-efficient solutions is likely to have continued supporting its performance in the to-be-reported quarter.
Carrier’s growing momentum across the core, aftermarket and digital offerings is expected to have benefited its fourth-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.
However, sluggishness in the commercial refrigeration business, owing to weakening momentum across European food retail customers due to inflationary pressure, is likely to have continued affecting the performance of the Refrigeration segment in the to-be-reported quarter.
Further, weakness in the Fire & Security segment is likely to have been a concern in the quarter to be reported.
Also, uncertainties related to the coronavirus pandemic are expected to get reflected in the upcoming quarterly results.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for CARR 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.
Carrier Global Corporation has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell) at present.
Stocks to Consider
Here are some stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings this season.
Advanced Energy Industries AEIS has an Earnings ESP of +3.00% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Advanced Energy Industries is scheduled to release its fourth-quarter 2022 results on Feb 8. The Zacks Consensus Estimate for AEIS’ earnings is pegged at $1.58 per share, suggesting an increase of 16.18% from the prior-year quarter’s reported figure.
Endava DAVA has an Earnings ESP of +1.47% and a Zacks Rank #2 at present. Endava is set to report its second-quarter fiscal 2023 results on Feb 14. The Zacks Consensus Estimate for DAVA’s earnings is pegged at 68 cents per share, suggesting an increase of 7.94% from the prior-year period’s reported figure.
Analog Devices ADI has an Earnings ESP of +1.13% and a Zacks Rank #3 at present
Analog Devices is scheduled to release its first-quarter fiscal 2023 results on Feb 15. The Zacks Consensus Estimate for ADI’s earnings is pegged at $2.59 per share, suggesting an increase of 33.5% from the prior-year quarter’s reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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