Carrier Global Corp. shares CARR, -0.26% rose 1.3% premarket Tuesday, after the heating and cooling equipment maker beat estimates for the fourth quarter. Palm Beach, Fla.-based Carrier posted net income of $324 million, or 36 cents a share, for the quarter, down from $884 million, or $1.00 a share, in the year-earlier period. Adjusted per-share earnings came to 44 cents, ahead of the 39 cent FactSet consensus. Sales rose to $5.133 billion from $4.594 billion, also ahead the $4.817 billion FactSet consensus. “We are pleased with the divestiture of Chubb and the pending acquisition of Toshiba Carrier Corporation and we will work to proactively improve our portfolio,” Chief Executive Dave Gitlin said in a statement. The company, which was spun out of the former United Technologies in April of 2020, said it now expects full-year adjusted EPS of $2.20 to $2.30 and sales of about $20 billion, excluding the Toshiba acquisition. The FactSet consensus is for EPS of $2.37 and sales of $19.3 billion. Shares have gained 15% in the last 12 months, matching the S&P 500’s gains.
