Will A Leaner Carrier Push The Stock To All-Time Highs?

Carrier Global Corporation (NYSE: CARR) delivered its fourth-quarter earnings on February 5, 2024. The results themselves were unremarkable. The company reported quarterly earnings per share (EPS) of 53 cents on revenue of $5.10 billion. The revenue was flat year-over-year (YOY), but the EPS came in 33% higher YOY. The company also delivered stronger than expected free cash flow performance of $829 million. 

However, the report is significant for current investors or those looking to get involved with CARR stock. That’s because this was the last earnings report in which the company will have its security business, Global Access Solutions.  

Carrier completed the sale of that business unit as well as its Commercial Refrigeration business to Honeywell International Inc. (NASDAQ: HON) in December 2023. The company is bringing in approximately $4. 5 billion in net proceeds as a result of the two sales. And if that wasn’t enough, the company …

Full story available on Benzinga.com