Filing Flows › Carrier Global (CARR) › Q3 2026 › vs Q3 2025
Carrier Global (CARR) Q3 2026 vs Q3 2025 (year over year)
Carrier Global's revenue rose $684M (+12%) from $5.6B in Q3 2025 to $6.3B in Q3 2026. The biggest changes: Product +$679M (+14%); Service +$5.0M (+0.7%).
Carrier Global, Q3 2026: revenue $6.3B (+12% year over year), operating margin -36.3%, net loss $2.5B, operating cash flow $813M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 10.8% | 4.0% | +6.7 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Product | $5.6B | $4.9B | $679M | +14% |
| Service | $678M | $673M | $5.0M | +0.7% |
| Revenue | $6.3B | $5.6B | $684M | +12% |
| Net loss | $2.5B | −$455M | $3.0B | — |
| Costs & expenses | $8.8B | $5.6B | $3.2B | +58% |
| Operating costs | $8.5B | $5.0B | $3.5B | +69% |
| Interest & other, net | $90.0M | $85.0M | $5.0M | +6% |
| Income tax | $177M | −$1.0M | $178M | — |
| Research & development | $154M | $151M | $3.0M | +2% |
| SG&A | $758M | $803M | −$45.0M | -6% |
| Other operating costs | $7.6B | $4.1B | $3.5B | +87% |
| Operating cash sources | $3.4B | −$114M | $3.5B | — |
| Depreciation & amortization | $324M | $325M | −$1.0M | -0.3% |
| Share-based compensation | $7.0M | $11.0M | −$4.0M | -36% |
| Working capital & other | $3.0B | −$450M | $3.5B | — |
| Net loss absorbed | $2.5B | −$455M | $3.0B | — |
| Operating cash flow | $813M | $341M | $472M | +138% |
| Free cash flow (OCF − capex) | $674M | $224M | $450M | +201% |
| Capital expenditures | $139M | $117M | $22.0M | +19% |
Questions
How much did Carrier Global's revenue grow year over year in Q3 2026?
Carrier Global's revenue rose $684M (+12%) from $5.6B in Q3 2025 to $6.3B in Q3 2026.
What drove Carrier Global's revenue change in Q3 2026?
Product +$679M (+14%); Service +$5.0M (+0.7%).