(Reuters) – Carrier Global beat the analysts’ estimate for first-quarter profit on Thursday, and raised its 2025 forecast, anticipating strong demand for its heating, ventilating and air conditioning (HVAC) products and aftermarket repair services.
Increasing global temperatures fueled by climate change and rising levels of air pollution have aided demand for air conditioners and air purifiers.
The company has also benefited from the rapid adoption of energy-efficient heat pumps as more buildings are now required to meet energy regulations.
Earlier this week, peer Trane Tech also beat quarterly estimates on strong demand for air conditioning.
Carrier also said it was “fully mitigating” the impact of tariffs in effect.
The Florida-based company reported first-quarter adjusted earnings of 65 cents per share, compared with 51 cents per share a year earlier.
Analysts on average expected earnings of 58 cents per share, according to data compiled by LSEG.
Carrier expects full-year 2025 adjusted profit to be in the range of $3.00 to $3.10 per share, compared to the prior forecast range of $2.95 to $3.05 per share.
Analysts on average expected 2025 earnings of $2.98 per share.
(Reporting by Anshuman Tripathy in Bengaluru; Editing by Vijay Kishore)
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