CARRIER GLOBAL Corp

CARR 10-Q · Q2 2025

CARR Q2 2025 request

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Income Statement

Income Statement
Metric Q2 2025 Q2 2024 YoY
Revenue 6,113 5,934 +3.0%
Show Product Lines breakouts
Product 5,477 5,311 +3.1%
Product · Climate Solutions Americas 2,970 2,586 +14.8%
Product · Climate Solutions Asia Pacific, Middle East & Africa 697 747 -6.7%
Product · Climate Solutions Europe 1,137 1,127 +0.9%
Product · Climate Solutions Transportation 673 851 -20.9%
Product · Related Party 845 832 +1.6%
Service 636 623 +2.1%
Service · Climate Solutions Americas 282 279 +1.1%
Service · Climate Solutions Asia Pacific, Middle East & Africa 185 155 +19.4%
Service · Climate Solutions Europe 116 67 +73.1%
Service · Climate Solutions Transportation 53 122 -56.6%
Show Business Segments breakouts
Climate Solutions Americas · Operating Segments 3,252 2,865 +13.5%
Climate Solutions Asia Pacific, Middle East & Africa · Operating Segments 882 902 -2.2%
Climate Solutions Europe · Operating Segments 1,253 1,194 +4.9%
Climate Solutions Transportation · Operating Segments 726 973 -25.4%
Show Geography breakouts
Asia Pacific 981 1,003 -2.2%
Europe 1,520 1,678 -9.4%
Other 183 176 +4.0%
US 3,429 3,077 +11.4%
Show Consolidation Items breakouts
Operating Segments 6,113 5,934 +3.0%
Cost of Revenue (Q)
Show Product Lines breakouts
Product -3,867 -3,867 0.0%
Product · Related Party -57 -59 +3.4%
Service -477 -492 +3.0%
Show Business Segments breakouts
Climate Solutions Americas · Operating Segments -2,061 -1,868 -10.3%
Climate Solutions Asia Pacific, Middle East & Africa · Operating Segments -654 -648 -0.9%
Climate Solutions Europe · Operating Segments -883 -834 -5.9%
Climate Solutions Transportation · Operating Segments -518 -716 +27.7%
Show Consolidation Items breakouts
Operating Segments -4,116 -4,066 -1.2%
Total Costs & Expenses -5,318 -5,308 -0.2%
Research & Development -161 -160 -0.6%
Show Business Segments breakouts
Climate Solutions Americas · Operating Segments -89 -91 +2.2%
Climate Solutions Asia Pacific, Middle East & Africa · Operating Segments -16 -16 0.0%
Climate Solutions Europe · Operating Segments -19 -19 0.0%
Climate Solutions Transportation · Operating Segments -17 -18 +5.6%
Show Consolidation Items breakouts
Operating Segments -141 -144 +2.1%
Selling, General & Administrative -813 -789 -3.0%
Show Business Segments breakouts
Climate Solutions Americas · Operating Segments -277 -237 -16.9%
Climate Solutions Asia Pacific, Middle East & Africa · Operating Segments -126 -131 +3.8%
Climate Solutions Europe · Operating Segments -260 -248 -4.8%
Climate Solutions Transportation · Operating Segments -72 -104 +30.8%
Show Consolidation Items breakouts
Operating Segments -735 -720 -2.1%
Operating Income 903 724 +24.7%
Show Business Segments breakouts
Climate Solutions Americas · Operating Segments 879 713 +23.3%
Climate Solutions Asia Pacific, Middle East & Africa · Operating Segments 135 157 -14.0%
Climate Solutions Europe · Operating Segments 99 93 +6.5%
Climate Solutions Transportation · Operating Segments 128 138 -7.2%
Show Consolidation Items breakouts
Operating Segments 1,241 1,101 +12.7%
Income Before Taxes 812 567 +43.2%
Income Tax Expense (Benefit) -162 -120 -35.0%
Net Income 633 2,369 -73.3%
Show Equity Components breakouts
Noncontrolling Interest 42 32 +31.2%
Retained Earnings 591 2,337 -74.7%
Net Income 591 2,337 -74.7%
Comprehensive Income 1,651 2,523 -34.6%
EPS (Basic) 0.69 2.59 -73.4%
EPS (Diluted) 0.68 2.55 -73.3%
Wtd Avg Shares (Basic) 854.9 902.4 -5.3%
Wtd Avg Shares (Diluted) 866.3 915.3 -5.4%
Income Loss From Equity Method Investments 78 90 -13.3%
Show Business Segments breakouts
Climate Solutions Americas · Operating Segments 43 44 -2.3%
Climate Solutions Asia Pacific, Middle East & Africa · Operating Segments 30 43 -30.2%
Climate Solutions Europe · Operating Segments 1 -1 +200.0%
Climate Solutions Transportation · Operating Segments 4 3 +33.3%
Show Consolidation Items breakouts
Operating Segments 78 89 -12.4%
Net Income Loss Attributable To Noncontrolling Interest 42 32 +31.2%

Balance Sheet

Balance Sheet
Metric Q2 2025 Q2 2024 YoY
Current Assets
Cash & Cash Equivalents 1,797 2,756 -34.8%
Inventory 2,888 3,045 -5.2%
Total Current Assets 9,131 11,573 -21.1%
Non-Current Assets
Property, Plant & Equipment 3,182 3,117 +2.1%
Operating Lease Right-of-Use Assets 575 635 -9.4%
Goodwill 15,672
Show Business Segments breakouts
Climate Solutions Americas · Operating Segments 5,063
Climate Solutions Asia Pacific, Middle East & Africa · Operating Segments 1,441
Climate Solutions Europe · Operating Segments 7,962
Climate Solutions Transportation · Operating Segments 1,206
Intangible Assets 6,770
Show Finite Lived Intangible Assets By Major Class breakouts
Customer Relationships 4,888
Patents and trademarks 794
Service portfolios and other 1,088
Deferred Tax Assets 1,220 939 +29.9%
Other Non-Current Assets 540 565 -4.4%
Total Assets 38,493 40,424 -4.8%
Current Liabilities
Accounts Payable 3,214 3,181 +1.0%
Show Related Party Transactions By Related Party breakouts
Related Party 32 51 -37.3%
Accrued Liabilities 4,508 4,262 +5.8%
Deferred Revenue (Current) -549
Current Portion of Long-Term Debt 107
Total Current Liabilities 7,829 10,675 -26.7%
Non-Current Liabilities
Long-Term Debt (Q)
Show Fair Value By Measurement Basis breakouts
Carrying Reported Amount Fair Value Disclosure · Unsecured Debt 10,826
Long-Term Debt 11,336 11,270 +0.6%
Operating Lease Liabilities 444 501 -11.4%
Deferred Tax Liabilities 2,087 2,184 -4.4%
Other Non-Current Liabilities 1,562 1,468 +6.4%
Total Liabilities 23,479 26,345 -10.9%
Contract With Customer Liability Noncurrent -178
Stockholders' Equity
Common Stock 9 9 0.0%
Additional Paid-In Capital 8,338 8,563 -2.6%
Retained Earnings 12,294 8,854 +38.9%
Accumulated Other Comprehensive Income -413 -1,686 +75.5%
Total Liabilities & Equity 38,493 40,424 -4.8%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q2 2025 YTD Q2 2024 YoY
Operating Activities
Stock-Based Compensation 44 48 -8.3%
Deferred Income Taxes -158 -231 +31.6%
Other Non-Cash Items -47 -114 +58.8%
Change in Inventory -412 7 -5985.7%
Net Cash from Operations 1,132 700 +61.7%
Investing Activities
Other Investing Activities -3 27 -111.1%
Net Cash from Investing -78 -6,273 +98.8%
Financing Activities
Share Repurchases -1,628
Net Cash from Financing -3,294 -1,406 -134.3%
Other Cash Flow
Net Change in Cash -2,172 -7,061 +69.2%

Values in millions USD. Source: SEC EDGAR 10-Q filing.

This table is rendered from the same JSON returned by /api/financials.

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