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Carrier Global lowers full-year sales forecast as sticky inflation limits demand
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Carrier Global lowers full-year sales forecast as sticky inflation limits demand
Apr 25, 2024 4:40 AM

April 25 (Reuters) - Air conditioner maker Carrier

Global ( CARR ) cut its full-year revenue forecast on Thursday,

anticipating continued pressure on consumer spending amid

persistent inflation.

Carrier, which also makes heating and ventilation equipment,

now expects full-year revenue to be $26 billion, below its

previous forecast of $26.50 billion.

Households are deciding against spending on energy-efficient

upgrades as persistent inflation eats into savings, which also

led to the Palm Beach, Florida-based company's first-quarter

revenue falling short of Wall Street estimates.

Carrier, which is also facing slumping demand in Europe,

reported quarterly revenue of $6.18 billion.

Analysts had expected it to post revenue of $6.28 billion,

according to LSEG data.

The company reported a first-quarter net income of $269

million, or 29 cents per share, compared with $373 million, or

44 cents per share, last year.

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