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Carrier Global (CARR) to Report Q1 Earnings: What's in Store?

·3 min read
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Carrier Global CARR is set to report first-quarter 2021 results on Apr 29.

The Zacks Consensus Estimate for first-quarter earnings stayed at 38 cents per share over the past 30 days, suggesting growth of 8.6% from the figure reported in the year-ago quarter.

The consensus mark for revenues is pegged at $4.40 billion, implying 13.1% growth from the figure reported in the year-ago quarter.

Notably, Carrier beat on earnings in three of the trailing four quarters, missing the same in one, the average beat being 32.5%.

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

Let’s see how things are shaping up for the upcoming announcement.

Factors to Consider

Carrier Global’s first-quarter 2021 top-line growth is expected to have benefited from strong demand for residential HVAC, partially offset by weakness in Commercial HVAC sales.

In the refrigeration segment, sales are expected to benefit from higher order activity in North American truck/trailer and Europe business segments. Improved container order activity is expected to have driven top-line growth.

Commercial refrigeration sales are expected to have benefited from pent-up demand in the to-be-reported quarter. Additionally, the company’s newly launched cold chain program is expected to have gained user base in the reported quarter.

Moreover, solid demand for Air Purifiers required for improving indoor air quality has been a key catalyst.

Further, the Carrier 700 program is expected to have boosted profitability through cost savings.

Nonetheless, a sluggish fire & safety solutions business is a headwind. First-quarter profitability is also expected to suffer from currency-related headwinds.

What Our Model Says

Per the Zacks model, 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.

Carrier Global has an Earnings ESP of -1.77% and 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 other companies worth considering as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:

Etsy ETSY has an Earnings ESP of +1.19% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

CDW Corporation CDW has an Earnings ESP of +0.51% and a Zacks Rank #2.

Citrix Systems CTXS has an Earnings ESP of +0.15% and a Zacks Rank #2.

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Citrix Systems, Inc. (CTXS) : Free Stock Analysis Report

Etsy, Inc. (ETSY) : Free Stock Analysis Report

CDW Corporation (CDW) : Free Stock Analysis Report

Carrier Global Corporation (CARR) : Free Stock Analysis Report

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