Filing Flows › Carrier Global (CARR) › Q3 2025
Carrier Global (CARR) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 28, 2025
Carrier Global (CARR) reported revenue of $5.6B for the third quarter 2025 (Q3 2025), -7% from a year earlier and -9% from the quarter before. Operating margin was 9.7%, net earnings $428M (7.7% of revenue).
Carrier Global, Q3 2025: revenue $5.6B (-7% year over year), operating margin 9.7%, net earnings $428M, operating cash flow $341M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.6B | -9% | -7% |
| Operating profit | $539M | -40% | -29% |
| Net earnings | $428M | -28% | -4% |
| Operating cash flow | $341M | -47% | — |
| Free cash flow | $224M | -61% | — |
What changed
Revenue was $5.6B in Q3 2025, down 7% year over year and down 9% from the previous quarter. Product was the largest line at 88% of revenue. Product lost $0.40B year over year (down 8%), 99% of the total change.
Operating profit was $0.54B, a 9.7% margin (down 3.1 points year over year). Total costs fell 3% while revenue fell 7%. Net earnings were $0.43B, down 4% year over year. The effective tax rate was -0.2%.
Operating cash flow was $0.34B, 75% of net income including minority interests. Non-cash charges added back $0.33B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.45B. Capital expenditures of $0.12B left free cash flow of $0.22B.
Questions
What was Carrier Global's revenue in the third quarter 2025?
Carrier Global (CARR) reported revenue of $5.6B for the third quarter 2025 (Q3 2025), -7% from a year earlier and -9% from the quarter before.
Was Carrier Global profitable in the third quarter 2025?
Operating profit was $539M (9.7% of revenue) and net earnings $428M.
Source: Carrier Global 10-Q on SEC EDGAR.