Carrier Global (CARR) to Report Q2 Earnings: What's in Store?

Carrier Global CARR is set to report second-quarter 2020 results on Jul 30.

The Zacks Consensus Estimate for second-quarter earnings has increased 12.5% to 27 cents per share over the past 30 days.

The consensus mark for revenues is pegged at $3.63 billion, indicating a decrease of 6.4% from the previous quarter’s reported figure.

Notably, on Apr 3, Carrier Global debuted as an independent, publicly-traded company after successfully completing its separation from United Technologies. The company offers HVAC, refrigeration, and fire and security solutions for residential, commercial, industrial, and smart cold chain applications.

Carrier Global Corporation Price and EPS Surprise


Carrier Global Corporation Price and EPS Surprise

Carrier Global Corporation price-eps-surprise | Carrier Global Corporation Quote

The company reported first-quarter 2020 adjusted earnings of 35 cents per share that beat the consensus mark by 84.2%. However, the figure decreased 27.1% year over year.

Let’s see how things are shaping up for the upcoming announcement.

Factors to Consider

Carrier Global’s second-quarter 2020 top line is expected to have benefited from a fast-recovering China, economy and phased opening of the U.S. economy, partially offset by a choppy Europe and South East Asia, particularly India.

Markedly, the second quarter is seasonally strong for the company’s HVAC business, which is expected to have aided the top line. HVAC revenues accounted for 50.4% of net sales in the first quarter.

In fact, net sales are expected to have grown sequentially in the to-be-reported quarter despite severe disruptions caused by the coronavirus outbreak.

Nonetheless, weakness in the North America and Europe truck trailer space is expected to have negatively impacted refrigeration sales, which accounted for 20.8% of first-quarter net sales.

Moreover, sluggish Fire & Safety solutions business is a headwind. Fire & Safety revenues accounted for 31% of net sales in the first quarter.

What Our Model Says

Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.

Carrier Global has an Earnings ESP of +20.00% and a Zacks Rank #2. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Other Stocks to Consider

Here are a few other companies worth considering as our model shows that these too have the right combination of elements to beat on earnings in their upcoming releases:

PerkinElmer PKI has an Earnings ESP of +22.13% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.

Fortive FTV has an Earnings ESP of +4.87% and is #2 Ranked.

Apple AAPL has an Earnings ESP of +4.41% and is Zacks #3 Ranked.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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