(Reuters) – Carrier Global on Tuesday reported a better-than-expected fourth-quarter profit, benefiting from demand for its heating, ventilating and air conditioning products and aftermarket repair services.
Shares of the company were up 3.5% at $68.5 in premarket trading.
Rising temperatures and air pollution have increased demand for air conditioners and purifiers globally, with last year being the hottest on record.
Sales in its HVAC (heating, ventilation, and air conditioning) segment grew 11% organically in the quarter, with strong growth in the Americas driven by commercial and North America residential sectors, the company said.
The Florida-based company has also benefited from the rapid adoption of energy-efficient heat pumps, as more buildings are now required to meet energy regulations.
It reported a fourth-quarter adjusted profit from continuing operations of 54 cents per share, above the average analyst estimate of 50 cents, according to data compiled by LSEG.
Sales in the quarter ended December 31 were up 19% at $5.15 billion compared to a year ago, below estimates of $5.28 billion.
Carrier also said it expects 2025 adjusted profit to be between $2.95 and $3.05 per share, while analysts were expecting $2.99.
(Reporting by Kannaki Deka in Bengaluru; Editing by Maju Samuel)
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