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Carrier tops quarterly results estimates, but residential orders fall
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Carrier tops quarterly results estimates, but residential orders fall
Jul 29, 2025 8:35 AM

By Aatreyee Dasgupta

July 29 (Reuters) - Air conditioner maker Carrier Global ( CARR )

beat analysts' estimates for second-quarter profit and

revenue on Tuesday, but a late start to the summer led to a fall

in orders from residential customers.

The company now expects residential organic sales to

rise a mid-single digit percentage this year, down from its

prior forecast of a percentage growth between high single digits

and double digits.

Shares of the Florida-based company were down 10%.

Quarterly net sales of Carrier's biggest segment,

Climate Solutions Americas, rose 14% from a year ago, boosted by

a 45% rise in sales to commercial clients.

Increasing global temperatures fueled by climate change,

and rising air pollution, are sustaining demand for new air

conditioners and air purifiers, as well as for maintenance and

repair of old ones.

Total aftermarket sales for the quarter were up 13%.

The company also benefits from robust demand for its

products for cooling data centers used for artificial

intelligence technologies.

But a late start to the cooling season, which refers to

the high-demand summer months, contributed to a 60% fall in

orders from residential customers, compared with a 100% rise

last year.

"Residential sales were up 11%, below our expectations

due to lower volume," CFO Patrick Goris said during the

quarterly earnings call on Tuesday.

Carrier reiterated its annual sales forecast of nearly

$23 billion and adjusted profit forecast per share ranging

between $3 and $3.10, despite lowering its expectations for

residential sales.

Total net sales for the quarter ended June 30 rose 3%

from a year ago to $6.11 billion, compared with analysts'

estimate of $6.09 billion, according to data compiled by LSEG.

It reported a second-quarter adjusted profit of 92 cents

per share, compared with analysts' estimate of 90 cents per

share.

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