Filing Flows › Carrier Global (CARR) › Q1 2025
Carrier Global (CARR) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
Carrier Global (CARR) reported revenue of $5.2B for the first quarter 2025 (Q1 2025), -4% from a year earlier and +1% from the quarter before. Operating margin was 12.1%, net earnings $412M (7.9% of revenue).
Carrier Global, Q1 2025: revenue $5.2B (-4% year over year), operating margin 12.1%, net earnings $412M, operating cash flow $483M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.2B | +1% | -4% |
| Operating profit | $629M | -19% | +63% |
| Net earnings | $412M | -84% | +53% |
| Operating cash flow | $483M | +266% | 12× |
| Free cash flow | $420M | — | — |
What changed
Revenue was $5.2B in Q1 2025, down 4% year over year and up 1% from the previous quarter. Product was the largest line at 89% of revenue. Product lost $0.19B year over year (down 4%), 94% of the total change.
Operating profit was $0.63B, a 12.1% margin (up 5.0 points year over year). Total costs fell 9% while revenue fell 4%. Net earnings were $0.41B, up 53% year over year. The effective tax rate was 20.3%.
Operating cash flow was $0.48B (up 1108% year over year), 111% of net income including minority interests. Non-cash charges added back $0.30B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.28B. Capital expenditures of $0.06B left free cash flow of $0.42B.
Questions
What was Carrier Global's revenue in the first quarter 2025?
Carrier Global (CARR) reported revenue of $5.2B for the first quarter 2025 (Q1 2025), -4% from a year earlier and +1% from the quarter before.
Was Carrier Global profitable in the first quarter 2025?
Operating profit was $629M (12.1% of revenue) and net earnings $412M.
Source: Carrier Global 10-Q on SEC EDGAR.