CARRIER GLOBAL Corp (CARR)

Carrier Global Corporation is a global leader in healthy, safe, sustainable, and intelligent building and cold chain solutions, operating through three segments: HVAC, Refrigeration, and Fire & Security. The company's portfolio includes well-known brands such as Carrier, Toshiba, Automated Logic, Carrier Transicold, Kidde, Edwards, and LenelS2, offering heating, ventilation, air conditioning, refrigeration, fire, security, and building automation technologies, along with related services including audit, design, installation, integration, repair, maintenance, and monitoring. For the year ended December 31, 2022, Carrier generated net sales of $20.4 billion and operating profit of $4.5 billion, with sales distributed across the Americas (60%), EMEA (23%), and Asia-Pacific (17%); international operations represented approximately 45% of net sales.

New equipment comprised 77% of net sales, with parts and service making up the remaining 23%. Key corporate developments in 2022 included the completed acquisition of a majority stake in Toshiba Carrier Corporation (a VRF and light commercial HVAC joint venture) and the sale of the Chubb Fire and Security business to APi Group Corporation for $2.9 billion, resulting in a $1.1 billion gain. Carrier was spun off from United Technologies Corporation (now Raytheon Technologies) in April 2020 and became an independent public company.

The company's business strategy centers on three growth pillars: strengthening its core business through innovation and strategic acquisitions, expanding product offerings and geographic reach, and growing aftermarket and digital capabilities through platforms like Abound and Lynx, developed in collaboration with Amazon Web Services. Carrier faces significant global competition based on technology differentiation, product performance, service, and price, and relies on raw materials such as copper, aluminum, and steel, which have been subject to inflationary pressures and supply chain disruptions. The company holds approximately 9,000 active patents and maintains around 47 joint ventures, primarily within its HVAC segment.

Carrier has established ambitious ESG goals for 2030, including over $2 billion in sustainable solution investments, reducing customer carbon footprints by more than 1 gigaton, achieving carbon-neutral operations, and reducing energy and water intensity. As of December 31, 2022, Carrier employed approximately 52,000 people worldwide, with a workforce distributed across the Americas (39%), EMEA (25%), and Asia (36%), and maintains various labor agreements and works councils. The company emphasizes human capital management through health and safety programs, competitive compensation, inclusion and diversity initiatives (including a pledge for gender parity in senior leadership by 2030), and talent development programs such as its Employee Scholar Program.

Carrier is incorporated in Delaware and headquartered in Palm Beach Gardens, Florida.