Carrier Global (
CARR
) shares surged to lead
S&P 500
gains Thursday after the heating, ventilation, and air conditioning company posted better-than-expected results for the first quarter and raised its full-year profit outlook.
The Palm Beach Gardens, Fla.-based company reported adjusted
earnings per share (EPS)
of 65 cents on sales that fell 4%
year-over-year
to $5.22 billion. Analysts who follow Carrier and were polled by Visible Alpha expected 58 cents and $5.2 billion, respectively.
Carrier raised its full-year adjusted EPS outlook to a range of $3 to $3.10 from the prior $2.95 to $3.05. It also sees 2025 sales of about $23 billion, versus approximately $22.5 billion to $23 billion previously.
Shares soared more than 11% Thursday afternoon to just above $69, bringing them into positive territory for 2025.
Read the original article on
Investopedia
