Filing Flows › Carrier Global (CARR) › Q4 2025
Carrier Global (CARR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 5, 2026
Carrier Global (CARR) reported revenue of $4.8B for the fourth quarter 2025 (Q4 2025), -6% from a year earlier and -13% from the quarter before. Operating margin was 2.1%, net earnings $53.0M (1.1% of revenue).
Carrier Global, Q4 2025: revenue $4.8B (-6% year over year), operating margin 2.1%, net earnings $53.0M, operating cash flow $1.0B. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.8B | -13% | -6% |
| Operating profit | $101M | -81% | -87% |
| Net earnings | $53.0M | -88% | -98% |
| Operating cash flow | $1.0B | +205% | +688% |
| Free cash flow | $909M | +306% | — |
What changed
Revenue was $4.8B in Q4 2025, down 6% year over year and down 13% from the previous quarter. Product was the largest line at 86% of revenue.
Operating profit was $0.10B, a 2.1% margin (down 12.9 points year over year). Total costs grew 8% against a revenue fall of 6%. The fastest-growing cost line was Other operating costs (+12%). Net earnings were $0.05B, down 98% year over year. The tax line was a benefit of $0.03B on pre-tax earnings of $0.03B.
Operating cash flow was $1.0B (up 688% year over year), 1677% of net income including minority interests. Non-cash charges added back $0.33B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.63B. Capital expenditures of $0.13B left free cash flow of $0.91B.
Questions
What was Carrier Global's revenue in the fourth quarter 2025?
Carrier Global (CARR) reported revenue of $4.8B for the fourth quarter 2025 (Q4 2025), -6% from a year earlier and -13% from the quarter before.
Was Carrier Global profitable in the fourth quarter 2025?
Operating profit was $101M (2.1% of revenue) and net earnings $53.0M.
Source: Carrier Global 10-K on SEC EDGAR.