Big Number
$52.4 billion. That is Carrier Global’s market capitalization as of Tuesday.
Tangent
Carrier reported $6.4 billion in sales in its latest quarter alongside adjusted earnings per share of $0.86, a 7% decline year-over-year. The company also reported a 40% increase in orders, with commercial HVAC orders jumping 65%.
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Key Background
Carrier completed its acquisition of Viessmann right after the start of the new year in 2024, securing the company for roughly 12 billion euros, or about $12.9 billion. The agreement was one of the largest industrial deals in recent European history. The Viessmann deal brought a sprawling network of European distributors and service contracts under Carrier’s ownership, all of which predated the acquisition and resulted in the Iranian embassy transactions. The services provided by the subsidiary had to be disclosed under the Securities Exchange Act, which mandates that companies report any transactions with sanctioned entities regardless of dollar size.
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