Analyst Consensus ?
ConsensusBuy24 ratings
Bullish1250.0%
Neutral1250.0%
Bearish00.0%
1 unmapped firm rating excluded from the percentages.
Carrier Global Corporation · CARR · FY2026 Q3 · Calendar Q4 2026
Carrier holds FY EPS outlook as data-center demand accelerates
Carrier’s Q3 showed strong demand momentum, led by data-center HVAC and commercial orders, while cost inflation and capacity needs remain the main constraints on near-term earnings conversion.
Reported Before market openNYSEIndustrials
$45.78B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.87
Consensus $0.76
EPS surprise
+14.8%
Reported versus consensus
Reported revenue
$6.26B
Consensus $6.09B
Revenue surprise
+2.8%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-1.3%
Event window
SPY move
-0.4%
Same window
Abnormal move
-0.9%
Stock minus SPY
Volume
2.1×
Versus trailing sessions
Subsequent drift
0.0%
Up to 20 sessions
CARRSPY benchmark
Ask FN2 about CARR FY2026 Q3
Transcript, numbers and history already loaded
Why did CARR fall 1.3% after beating EPS estimates in FY2026 Q3?What changed in CARR's guidance and outlook in FY2026 Q3?Give me the bull and bear case for CARR after FY2026 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Management maintained full-year EPS guidance at $2.85-$2.90 despite 15% organic sales growth, a 35% increase in adjusted operating profit, and data-center orders up 300% year over year. The company also highlighted a Fort Worth manufacturing site and a hyperscaler agreement with minimum volume commitments.
Guidance delta
Maintained: full-year EPS guidance remained $2.85-$2.90. Management expects double-digit EPS growth in 2027.
Key takeaways
- Data-center demand was the central growth driver, with orders reaching $3 billion year to date.
- Backlog exceeded $8.5 billion, supporting visibility but increasing execution and capacity demands.
- Input-cost headwinds of $550 million-$600 million and pricing actions remain important to margin performance.
- Aftermarket growth and digital building-management enhancements add support beyond equipment demand.
Management priorities
- Expand data-center capacity, including the Fort Worth advanced manufacturing site.
- Execute price increases and manage steel, copper, aluminum, fuel, and other input costs.
- Advance heat-pump, liquid-cooling, and AI-enabled pricing and building-management offerings.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$53.74Current
$45Low
$67.61Average
$95High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 30, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Mizuho | Outperform | Outperform | Maintain | Oct 15, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Oct 14, 2026 |
| Goldman Sachs | Neutral | Buy | Downgrade | Oct 14, 2026 |
| Bernstein | Market Perform | Market Perform | Maintain | Oct 7, 2026 |
| Citigroup | Buy | Buy | Maintain | Jul 13, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | May 28, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | May 14, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | May 1, 2026 |
| Barclays | Overweight | Overweight | Maintain | May 1, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Apr 1, 2026 |
| UBS | Buy | Buy | Maintain | Jan 5, 2026 |
| Oppenheimer | Perform | Outperform | Downgrade | Oct 14, 2025 |
| Baird | Outperform | Outperform | Maintain | Jul 30, 2025 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Feb 24, 2025 |
| Stephens & Co. | Equal Weight | Equal Weight | Maintain | Oct 28, 2024 |
| B of A Securities | Neutral | Neutral | Maintain | Oct 18, 2024 |
| TD Cowen | Buy | Buy | Maintain | Apr 29, 2024 |
| Argus Research | Buy | Buy | Maintain | Aug 1, 2023 |
| Deutsche Bank | Hold | Hold | Maintain | Apr 12, 2023 |
| Keybanc | Overweight | Downgrade | Dec 13, 2022 | |
| Cowen & Co. | Outperform | Outperform | Maintain | Oct 31, 2022 |
| Jefferies | Buy | Buy | Maintain | Jul 15, 2022 |
| Credit Suisse | Neutral | Neutral | Maintain | Apr 29, 2022 |
| Vertical Research | Hold | Buy | Downgrade | Jan 3, 2022 |
| Atlantic Equities | Neutral | Overweight | Downgrade | Apr 30, 2021 |
Named analyst price targets
Upside is calculated against the persisted current price $53.74. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Mizuho Securities | Analyst unavailable | $70 | $54.24 | +30.3% | Oct 15, 2026 |
| Goldman Sachs | Analyst unavailable | $61 | $55.03 | +13.5% | Oct 14, 2026 |
| Bernstein | Analyst unavailable | $64 | $56.1 | +19.1% | Oct 7, 2026 |
| Goldman Sachs | Joe Ritchie | $74 | $55.38 | +37.7% | Sep 30, 2026 |
| Wells Fargo | Analyst unavailable | $67 | $54.87 | +24.7% | Sep 24, 2026 |
| Bernstein | Analyst unavailable | $78 | $59.92 | +45.1% | Jul 30, 2026 |
| Wolfe Research | Analyst unavailable | $80 | $68.15 | +48.9% | Jul 9, 2026 |
| Bernstein | Analyst unavailable | $75 | $71.24 | +39.6% | Jun 9, 2026 |
| Barclays | Analyst unavailable | $79 | $67.17 | +47.0% | May 1, 2026 |
| BNP Paribas | Analyst unavailable | $62 | $64.32 | +15.4% | Apr 14, 2026 |
| RBC Capital | Analyst unavailable | $74 | $64.35 | +37.7% | Feb 6, 2026 |
| Morgan Stanley | Analyst unavailable | $55 | $52.74 | +2.3% | Jan 8, 2026 |
| UBS | Analyst unavailable | $70 | $53.67 | +30.3% | Jan 5, 2026 |
| Mizuho Securities | Brett Linzey | $67 | $53.24 | +24.7% | Jan 5, 2026 |
| Barclays | Carrier Global to | $72 | $52.9 | +34.0% | Dec 10, 2025 |
| Wolfe Research | Analyst unavailable | $74 | $53.03 | +37.7% | Dec 9, 2025 |
| RBC Capital | Analyst unavailable | $70 | $54.66 | +30.3% | Dec 5, 2025 |
| Wells Fargo | Joseph O'Dea | $59 | $54.62 | +9.8% | Dec 4, 2025 |
| Robert W. Baird | Carrier Global to | $72 | $58.74 | +34.0% | Oct 29, 2025 |
| Mizuho Securities | Brett Linzey | $75 | $56.75 | +39.6% | Oct 17, 2025 |
| Morgan Stanley | Analyst unavailable | $60 | $57.16 | +11.6% | Oct 14, 2025 |
| Mizuho Securities | Carrier Global to | $72 | $59.47 | +34.0% | Apr 22, 2025 |
| Barclays | Julian Mitchell | $83 | $66.97 | +54.4% | Mar 26, 2025 |
| Wells Fargo | Joseph O'Dea | $75 | $68.21 | +39.6% | Jan 7, 2025 |
| Mizuho Securities | Brett Linzey | $78 | $75.43 | +45.1% | Oct 28, 2024 |
| Stephens | Tommy Moll | $85 | $81.61 | +58.2% | Oct 16, 2024 |
| Robert W. Baird | Timothy Wojs | $88 | $81.61 | +63.8% | Oct 14, 2024 |
| Jefferies | Stephen Volkmann | $95 | $80.42 | +76.8% | Oct 8, 2024 |
| Barclays | Julian Mitchell | $90 | $79.35 | +67.5% | Oct 2, 2024 |
| Bank of America Securities | Andrew Obin | $80 | $75.37 | +48.9% | Sep 13, 2024 |
| Robert W. Baird | Timothy Wojs | $74 | $75.37 | +37.7% | Sep 13, 2024 |
| Morgan Stanley | Christopher Snyder | $75 | $69.04 | +39.6% | Sep 6, 2024 |
| RBC Capital | Deane Dray | $79 | $69.55 | +47.0% | Sep 5, 2024 |
| Bank of America Securities | Andrew Obin | $72 | $66.77 | +34.0% | Jul 29, 2024 |
| Oppenheimer | Noah Kaye | $70 | $64.83 | +30.3% | Jul 26, 2024 |
| CFRA | Stewart Glickman | $65 | $64.84 | +21.0% | Jul 25, 2024 |
| Robert W. Baird | Carrier Global to Outperform | $75 | $66 | +39.6% | Jul 15, 2024 |
| Oppenheimer | Noah Kaye | $71 | $63.4 | +32.1% | Jun 27, 2024 |
| J.P. Morgan | Stephen Tusa | $53 | $54.42 | -1.4% | Oct 6, 2023 |
| Morgan Stanley | Analyst unavailable | $47 | $42.73 | -12.5% | Jan 6, 2023 |
| Goldman Sachs | Analyst unavailable | $53 | $42.52 | -1.4% | Dec 15, 2022 |
| Citigroup | Analyst unavailable | $45 | $43.02 | -16.3% | Dec 9, 2022 |
| Deutsche Bank | Analyst unavailable | $46 | $43.9 | -14.4% | Dec 5, 2022 |
| Jefferies | Stephen Volkmann | $47 | $38.16 | -12.5% | Jul 26, 2022 |
| Credit Suisse | Analyst unavailable | $45 | $39.18 | -16.3% | Apr 29, 2022 |
| Wells Fargo | Analyst unavailable | $43 | $39.41 | -20.0% | Apr 29, 2022 |
| RBC Capital | Analyst unavailable | $52 | $39.27 | -3.2% | Apr 29, 2022 |
| Barclays | Julian Mitchell | $60 | $44.54 | +11.6% | Apr 5, 2022 |
| Wells Fargo | Joseph O'Dea | $50 | $47.98 | -7.0% | Feb 9, 2022 |
| Citigroup | Vlad Bystricky | $55 | $47.98 | +2.3% | Feb 9, 2022 |
| Jefferies | Stephen Volkmann | $65 | $47.66 | +21.0% | Jan 24, 2022 |
| Vertical Research | Jeffrey Sprague | $57 | $52.52 | +6.1% | Jan 3, 2022 |
| UBS | Markus Mittermaier | $61 | $53.4 | +13.5% | Dec 14, 2021 |
| Goldman Sachs | Joe Ritchie | $66 | $56.14 | +22.8% | Sep 10, 2021 |
| Wolfe Research | Nigel Coe | $61 | $55.93 | +13.5% | Sep 7, 2021 |
| KeyBanc | Jeffrey Hammond | $60 | $54.97 | +11.6% | Jul 30, 2021 |
| Cowen & Co. | Gautam Khanna | $58 | $53.66 | +7.9% | Jul 29, 2021 |
| Bank of America Securities | Andrew Obin | $57 | $43.41 | +6.1% | Apr 19, 2021 |
Track every rating change on CARR the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationCarrier Global Corporation is a worldwide provider of advanced technological solutions covering heating, ventilation, and air conditioning (HVAC), refrigeration, fire safety, security, and intelligent building automation. Its operations are structured across three primary business segments: HVAC, Refrigeration, and Fire & Security. The HVAC segment is dedicated to supplying products, controls, services, and complete solutions tailored to the heating, cooling, and ventilation requirements of both residential and commercial clients. Offerings in this area include air conditioning units, heating systems, various control mechanisms, aftermarket components, as well as post-installation repair, maintenance services, and building automation capabilities. The Refrigeration segment focuses on providing transport refrigeration and monitoring products and services. This includes digital solutions for diverse applications such as trucks, trailers, shipping containers, intermodal transport, food retail, and warehouse cooling.…
Historical context
All CARR earningsIndustrials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| TT Trane Technologies plc | FY2026 Q3 · Calendar Q4 2026 | +2.7% | -3.9% | TT raises revenue outlook as backlog and data-center demand strengthen |
| CAT Caterpillar Inc. | FY2026 Q3 · Calendar Q4 2026 | +2.0% | -9.3% | Caterpillar maintains outlook as backlog reaches $78 billion |
| PWR Quanta Services, Inc. | FY2026 Q3 · Calendar Q4 2026 | +20.7% | +4.7% | Quanta raises 2026 outlook as backlog reaches $64 billion |
| HWM Howmet Aerospace Inc. | FY2026 Q3 · Calendar Q4 2026 | +6.6% | +5.5% | Howmet raises outlook as turbine and aerospace demand stays strong |
| FTAIM FTAI Aviation Ltd. | FY2026 Q3 · Calendar Q4 2026 | +1.4% | +1.6% | FTAI Aviation reports record Q3 and reaffirms 2026–2027 guidance |
| ATI ATI Inc. | FY2026 Q3 · Calendar Q4 2026 | +6.6% | +5.9% | ATI raises outlook as jet-engine demand and AA&S margins strengthen |
Latest beats and misses
Who reports nextBeat on EPS
- DXCMFY2026 Q3 · October 29, 2026+8.1% EPS+5.6% move
- ALNYFY2026 Q3 · October 29, 2026+879.5% EPS-25.1% move
- KIMFY2026 Q3 · October 29, 2026+101.6% EPS+4.4% move
- FTIFY2026 Q3 · October 29, 2026+19.9% EPS-6.2% move
- MAFY2026 Q3 · October 29, 2026+2.7% EPS+4.2% move
- OWLFY2026 Q3 · October 29, 2026+6.6% EPS+7.7% move
Missed on EPS
- DLR-PJFY2026 Q3 · October 29, 2026-8.4% EPS— move
- DLRFY2026 Q3 · October 29, 2026-8.4% EPS-3.0% move
- EGFY2026 Q3 · October 28, 2026-18.8% EPS+3.5% move
- MKLFY2026 Q3 · October 28, 2026-2.3% EPS+1.2% move
- KYMRFY2026 Q3 · October 29, 2026-4.8% EPS+0.1% move
- DHIFY2026 Q4 · October 29, 2026-11.3% EPS+2.5% move
Get the CARR recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-10-29T17:11:17.138545+00:00
- FN2 earnings calendar · 2026-10-30T01:23:13.979536+00:00
- Polygon adjusted daily market bars · 2026-10-30T13:10:45.626539+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-30T13:10:45.623828+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-30. For educational purposes only; not investment advice.