Carrier Global Corporation: Increased Demand for Commercial HVAC

Carrier Global Corp. recorded a robust Q4 2023 performance, delivering 33% growth in adjusted EPS and generating over $800 million in free cash flow, significantly exceeding expectations. Key to this success was resilient aftermarket growth alongside margin expansion. Throughout 2023, despite COVID challenges, Carrier demonstrated significant business resilience, delivering 17% earnings per share (EPS) growth on a 3% organic sales expansion and enhanced free cash flow performance of more than 50% year-over-year, from $1.4 billion to over $2.1 billion. This enforces the projection that Carrier Global Corp–thanks to its robust growth initiatives and productivity planning–is prepared for a profitable 2024 marked by expansive growth and margin enhancement.