Carrier Global Corp (NYSE:CARR) Shares Rise on Strong Q3 Earnings Beat

Investors in CARRIER GLOBAL CORP (NYSE:CARR) are reacting positively to the company's third-quarter 2025 earnings report, sending shares higher in pre-market trading following a mixed financial performance that featured a significant earnings beat alongside declining sales.

Third Quarter Performance Versus Expectations

The heating, ventilation, air conditioning, and refrigeration specialist reported financial results for the period ending September 2025. The market's focus has zeroed in on two key metrics where the company's performance diverged significantly.

• Revenue: The company reported Q3 sales of $5.58 billion. This figure came in slightly below the analyst consensus estimate of $5.68 billion and represents a 6.8% decline compared to the same quarter last year.
• Earnings Per Share: On a non-GAAP basis, Carrier Global reported earnings of $0.67 per share. This substantially outperformed Wall Street's expectations, which were set at $0.58 per share, constituting a beat of approximately 17.7%.

The divergence between the top-line revenue miss and the bottom-line earnings beat suggests the company is finding effective ways to manage its costs and improve profitability even in a softer sales environment.

Market Reaction and Recent Performance

The immediate market response has been decisively positive. The stock is up nearly 3% in pre-market activity, indicating that investors are weighting the earnings beat more heavily than the revenue shortfall. This positive sentiment marks a notable shift from the stock's performance over the past month, during which it had been trading slightly negative. The strong pre-market move suggests the earnings report has successfully countered recent downward pressure and reinvigorated bullish sentiment.

Forward-Looking Guidance and Analyst Estimates

Looking ahead, the company provided full-year revenue guidance that appears to have contributed to the positive market mood. Carrier Global's management projected full-year revenue of $22.5 billion at the midpoint. This outlook is a critical piece of context, as it slightly exceeds the current analyst consensus estimate of $22.67 billion for the full year. This guidance signals management's confidence in navigating the remainder of the year, potentially easing concerns stemming from the Q3 sales decline.

For the upcoming fourth quarter, analysts have already set expectations, which will serve as the next benchmark for the company's performance.

• Analyst Q4 Revenue Estimate: $5.40 billion
• Analyst Q4 EPS Estimate: $0.54

Summary of Key Announcements

Beyond the core financial figures, the earnings release contained other material news. The company's board of directors approved a substantial new $5 billion share repurchase authorization. This program signals a strong commitment to returning capital to shareholders and reflects confidence in the company's financial health and future cash flow generation. Furthermore, the company reported solid cash generation, with net cash flows from operating activities of $341 million.

For a detailed breakdown of historical earnings, future estimates, and analyst revisions, you can review the data here: Carrier Global Earnings & Estimates.

Disclaimer: This article is for informational purposes only and does not constitute financial advice, a recommendation to buy or sell any security, or an offer to solicit any transaction. Investors should conduct their own research and consult with a qualified financial advisor before making any investment decisions.