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Carrier Global (CARR) to Report Q4 Earnings: What's in Store?

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Zacks Equity Research
·3 min read
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Carrier Global CARR is set to report fourth-quarter 2020 results on Feb 9.

The Zacks Consensus Estimate for fourth-quarter earnings increased 8.8% to 37 cents per share over the past 30 days.

The consensus mark for revenues is pegged at $4.58 billion.

The company reported third-quarter 2020 adjusted earnings of 67 cents per share that beat the consensus mark by 39.6%. However, the figure decreased 9.5% year over year.

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

Factors to Consider

Carrier Global’s fourth-quarter 2020 top line is expected to have benefited from recovered demand for HVAC.  Notably, since the launch of BluEdge service platform, Carrier’s HVAC business has signed more than 300 service agreements.

Markedly, HVAC revenues accounted for 57.8% of net sales in the third quarter. Net sales are expected to grow sequentially in the to-be-reported quarter despite severe disruptions caused by the coronavirus outbreak.

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

Additionally, the company’s newly launched cold chain program is expected to have gained user base in the reported quarter. Notably, Carrier Global has partnered with Amazon Web Services to develop a robust and powerful data ecosystem for cold chain operations.

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

Nonetheless, weakness in Asia, particularly China, is expected to have negatively impacted top-line growth. Moreover, sluggish fire & safety solutions business is a headwind.

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.

Carrier Global has an Earnings ESP of +10.96% and a Zacks Rank #2 (Buy). 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:

CDW Corporation CDW has an Earnings ESP of +6.74% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Vishay Intertechnology VSH has an Earnings ESP of +3.93% and is #2 Ranked.

Marvell Technology MRVL has an Earnings ESP of +4.76% and is Zacks #2 Ranked.

5 Stocks Set to Double

Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.

Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.

Today, See These 5 Potential Home Runs >>

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Marvell Technology Group Ltd. (MRVL) : Free Stock Analysis Report
Vishay Intertechnology, Inc. (VSH) : Free Stock Analysis Report
CDW Corporation (CDW) : Free Stock Analysis Report
Carrier Global Corporation (CARR) : Free Stock Analysis Report
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Zacks Investment Research