Carrier Global Corporation announced second quarter results yesterday delivering a 37 per cent sales increase compared to last year.
Carrier chair & CEO, David Gitlin, said the company delivered strong revenue growth over the second quarters of both 2020 and 2019.
He said operational performance also enabled the company to meet higher than expected customer demand.
Carrier's second quarter sales of $US5.4 billion were up 37 per cent compared to the prior year and organic sales were up 31 per cent over the same period.
The strong sales performance was broad-based across all three segments, including growth in commercial HVAC, transport refrigeration, the fire & aecurity segment and continued strength in North American residential HVAC.
Net income was $487 million, and adjusted net income was $567 million.
Gitlin said the sales growth was global and could be seen across all regions.
“Actually, very strong double digits across all regions, North America, EMEA and China, all up over 20 per cent,” he said during an earnings call overnight.
Gitlin said the need for safe cold chain solutions has intensified as a result of an increased focus on vaccine distribution and the increasing global middle class demand for more fresh produce and other refrigerated products.
“And of course, the need for sustainable solutions. Given that the building sector contributes about 40 per cent of carbon emissions and food waste contributes another 10 to 15 per cent, we are confident that spend on sustainability will continue to drive demand for our green solutions,” he said.
“We, therefore, remain laser focused on healthy, safe, sustainable and intelligent buildings and cold chain solutions, and we are leaning into those trends by executing on our three-pronged growth strategy:
“Growing our core, expanding product extensions and increasing recurring revenues through digitally enabled aftermarket offerings.”