Carrier Global Corp Files Q2 2024 10-Q

TL;DR

Carrier Global Corp's Q2 2024 10-Q is in. Check financials.

AI Summary

Carrier Global Corp filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and position. Key financial data points and disclosures are presented within this quarterly report.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for Carrier Global Corp, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing (10-Q) and does not inherently present new risks.

Key Players & Entities

• CARRIER GLOBAL Corp (company) — Filer
• 20240630 (date) — Period of Report
• 0001783180-24-000077 (document_id) — Accession Number

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock ($0.01 par value) CARR New York Stock Exchange

Filing Documents

• carr-20240630.htm (10-Q) — 1919KB
• exhibit102carrier-timperma.htm (EX-10.2) — 13KB
• q2202410-qexhibit15.htm (EX-15) — 3KB
• q2202410-qexhibit311.htm (EX-31.1) — 10KB
• q2202410-qexhibit312.htm (EX-31.2) — 10KB
• q2202410-qexhibit313.htm (EX-31.3) — 10KB
• q2202410qexhibit32.htm (EX-32) — 8KB
• image_0a.jpg (GRAPHIC) — 60KB
• 0001783180-24-000077.txt ( ) — 10668KB
• carr-20240630.xsd (EX-101.SCH) — 58KB
• carr-20240630_cal.xml (EX-101.CAL) — 127KB
• carr-20240630_def.xml (EX-101.DEF) — 342KB
• carr-20240630_lab.xml (EX-101.LAB) — 767KB
• carr-20240630_pre.xml (EX-101.PRE) — 560KB
• carr-20240630_htm.xml (XML) — 1874KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 3

Financial Statements

Item 1. Financial Statements: 3 Condensed Consolidated Statement of Operations (Unaudited) 3 Condensed Consolidated Statement of Comprehensive Income (Loss) (Unaudited) 4 Condensed Consolidated Balance Sheet (Unaudited) 5 Condensed Consolidated Statement of Changes in Equity (Unaudited) 6 Condensed Consolidated Statement of Cash Flows (Unaudited) 7 Notes to Condensed Consolidated Financial Statements (Unaudited) 8 Report of Independent Registered Public Accounting Firm 32

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 33

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 51

Controls and Procedures

Item 4. Controls and Procedures 51

– OTHER INFORMATION

PART II – OTHER INFORMATION 52

Legal Proceedings

Item 1. Legal Proceedings 52

Risk Factors

Item 1A. Risk Factors 52

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 52

Other Information

Item 5. Other Information 52

Exhibits

Item 6. Exhibits 53

SIGNATURES

SIGNATURES 54 Carrier Global Corporation and its subsidiaries' names, abbreviations thereof, logos and product and service designators are all either the registered or unregistered trademarks or trade names of Carrier Global Corporation and its subsidiaries. Names, abbreviations of names, logos and products and service designators of other companies are either the registered or unregistered trademarks or trade names of their respective owners. As used herein, the terms "we," "us," "our," "the Company" or "Carrier," unless the context otherwise requires, mean Carrier Global Corporation and its subsidiaries. References to internet websites in this Form 10-Q are provided for convenience only. Information available through these websites is not incorporated by reference into this Form 10-Q. 2 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements CARRIER GLOBAL CORPORATION CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) Three Months Ended June 30, Six Months Ended June 30, (In millions, except per share amounts) 2024 2023 2024 2023 Net sales Product sales $ 6,004 $ 5,355 $ 11,546 $ 10,041 Service sales 685 637 1,325 1,224 Total Net sales 6,689 5,992 12,871 11,265 Costs and expenses Cost of products sold ( 4,296 ) ( 3,769 ) ( 8,294 ) ( 7,227 ) Cost of services sold ( 515 ) ( 468 ) ( 994 ) ( 905 ) Research and development ( 187 ) ( 151 ) ( 411 ) ( 290 ) Selling, general and administrative ( 975 ) ( 784 ) ( 1,960 ) ( 1,505 ) Total Costs and expenses ( 5,973 ) ( 5,172 ) ( 11,659 ) ( 9,927 ) Equity method investment net earnings 90 52 121 96 Other income (expense), net 2,885 ( 383 ) 2,858 ( 390 ) Operating profit 3,691 489 4,191 1,044 Non-service pension (expense) benefit ( 1 ) — ( 1 ) — Interest (expense) income, net ( 166 ) ( 67 ) ( 331 ) ( 113 ) Income from operations before income taxes 3,524 422 3,859 931 Income tax (expense) benefit ( 1,155 ) ( 189 ) ( 1,201 ) ( 311 ) Net income from operations 2,369 233 2,658 620 Less: Non-controlling interest in subsidiaries' earnings from operations 32 34 52 48 Net income attributable to common shareowners $ 2,337 $ 199 $ 2,606 $ 572 Earnings per share Basic $ 2.59 $ 0.24 $ 2.90 $ 0.68 Diluted $ 2.55 $ 0.23 $ 2.85 $ 0.67 Weighted-average number of shares outstanding Basic 902.4 836.0 900.2 835.5 Diluted 915.3 850.9 913.6 851.5 The accompanying notes are an integral part of the Unaudited Condensed Consolidated Financial Statements. 3 Table of Contents CARRIER GLOBAL CORPORATION CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (Unaudited) Three Months Ended June 30, Six Months Ended June 30, (In millions) 2024 2023 2024 2023 Net income from operations $ 2,369 $ 233 $ 2,658 $ 620 Other comprehensive income (loss), net of tax: Foreign currency translation adjustments

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View this 10-Q filing on SEC EDGAR