Filing Flows › Carrier Global (CARR) › Q2 2026 › vs Q2 2025
Carrier Global (CARR) Q2 2026 vs Q2 2025 (year over year)
Carrier Global's revenue rose $238M (+4%) from $6.1B in Q2 2025 to $6.4B in Q2 2026. The biggest changes: Product +$157M (+3%); Service +$81.0M (+13%). Operating margin 13.0% against 14.8% (-1.8 pts).
Carrier Global, Q2 2026: revenue $6.4B (+4% year over year), operating margin 13.0%, net earnings $501M, operating cash flow $927M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 13.0% | 14.8% | -1.8 pts |
| Net margin | 7.9% | 9.7% | -1.8 pts |
| Free cash flow margin | 12.8% | 9.3% | +3.5 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Product | $5.6B | $5.5B | $157M | +3% |
| Service | $717M | $636M | $81.0M | +13% |
| Revenue | $6.4B | $6.1B | $238M | +4% |
| Operating profit | $825M | $903M | −$78.0M | -9% |
| Costs & expenses | $5.5B | $5.2B | $316M | +6% |
| Pre-tax earnings | $721M | $795M | −$74.0M | -9% |
| Other expense, net | $104M | $108M | −$4.0M | -4% |
| Research & development | $148M | $161M | −$13.0M | -8% |
| SG&A | $810M | $813M | −$3.0M | -0.4% |
| Other operating costs | $4.6B | $4.2B | $332M | +8% |
| Net earnings | $501M | $591M | −$90.0M | -15% |
| Minority interests | $40.0M | $42.0M | −$2.0M | -5% |
| Income tax | $180M | $162M | $18.0M | +11% |
| Depreciation & amortization | $314M | $317M | −$3.0M | -0.9% |
| Share-based compensation | $12.0M | $21.0M | −$9.0M | -43% |
| Working capital & other | $100M | −$280M | $380M | — |
| Operating cash flow | $927M | $649M | $278M | +43% |
| Free cash flow (OCF − capex) | $810M | $568M | $242M | +43% |
| Capital expenditures | $117M | $81.0M | $36.0M | +44% |
Questions
How much did Carrier Global's revenue grow year over year in Q2 2026?
Carrier Global's revenue rose $238M (+4%) from $6.1B in Q2 2025 to $6.4B in Q2 2026.
What drove Carrier Global's revenue change in Q2 2026?
Product +$157M (+3%); Service +$81.0M (+13%).