Q2 earnings beat and surging orders for cooling systems drive Carrier to lift full-year sales and profit forecasts.
Carrier Global (CARR) increased its full-year outlook after second-quarter earnings exceeded Wall Street estimates, fueled by rising demand for data center cooling systems and higher commercial orders. The company reported a record backlog, though profit margins narrowed due to elevated input costs and an unfavorable business mix.
Prior to the report, analysts had expected modest growth, but accelerating demand for data center infrastructure and productivity gains offset cost pressures. The company now projects higher full-year sales, adjusted operating profit, and earnings per share, while maintaining its free cash flow guidance.
Shares rose 4.6% in premarket trading following the announcement.