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Analyst

Charles Tusa

JPMorgan · covers Industrials

Period: Reporting periods mapped to calendar 2024 Q4 – 2025 Q4 (5 quarters).

Limited coverage. Only 8 questions of coverage. Treat these numbers as directional — sample too small for reliable averages.
Questions
8on tracked calls
Challenge rate
13%1 of 8 questionsLimited sample
Companies
4questioned at least once
Reporting periods
5with questions

These figures cover the whole profile: every tracked question, all reporting periods.

How to read these numbers

Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.

Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.

No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.

Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.

Small samples. Profiles with fewer than 10 questions are marked Limited sample.

Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.

Questions asked

Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.

Showing 8 of 8 questions from 4 companies

CARRCarrier Global4 questions · 2 reporting periods · 0 of 4 challenging
CARR company page →

Calendar 2025 Q3

how does that break out in resi for the third quarter?

PricingRegulation PolicyTranscript · FY2025 Q3 →
Show response

Gitlin confirmed Q3 resi breakdown: ~3 points price, ~8 points regulatory mix-up from 454B.

that still implies the non-DC applied equipment was still up in the quarter?

Revenue GrowthDemandTranscript · FY2025 Q3 →
Show response

Gitlin confirmed non-DC applied equipment up low teens. Total commercial HVAC in Americas up 30%: applied equipment +60%, aftermarket +mid-teens, controls +20%+.

Calendar 2024 Q4

Is there. Do you think you're kind of in line with the industry? Is there somebody else that may be selling more?

Competitive DynamicsDemandTranscript · FY2024 Q4 →
Show response

Gitlin confirmed ~100bps share gain using bottoms-up distributor inventory analysis, distinct from industry top-down assessment.

are you concerned at all about any efforts there to regain that share?

Competitive DynamicsPricingTranscript · FY2024 Q4 →
Show response

Gitlin noted this question recurs annually and pricing has consistently held. Expects 10% 454B realization regardless of competitor actions.

HUBBHubbell Incorporated2 questions · 1 reporting period · 0 of 2 challenging
HUBB company page →

Calendar 2025 Q1

what you're doing with the sensitivity is just saying, but you're just identifying that the difference between the high and the low end

Guidance ReliabilityTranscript · FY2025 Q1 →
Show response

Management clarified sensitivity is separate from fundamental range. If both fundamentals weaken and tariff offset slips, downside would be below the low end.

The pricing in 2Q, like how do you expect that to kind of feather into 2Q on the way to it being half for the year

PricingTrade TariffsTranscript · FY2025 Q1 →
Show response

Price realization expected to ramp with a couple points of incremental contribution from Q1 to Q2, coming quicker in Electrical due to shorter backlogs and book-and-ship model.

JCIJohnson Controls1 question · 1 reporting period · 0 of 1 challenging
JCI company page →

Calendar 2025 Q2

the order number at low single digit was maybe a little bit lighter than I was expecting. How do you guys feel about that trending into the fourth quarter?

DemandGuidance ReliabilityTranscript · FY2025 Q3 →
Show response

Americas strong, EMEA better than appears on tough comp, China ongoing softness. Core verticals healthy per leading indicators. No timeline given on longer-term outlook.

OTISOtis Worldwide1 question · 1 reporting period · 1 of 1 challenging
OTIS company page →

Calendar 2025 Q4

I'm not sure if we have the numbers right. On the conversion rate in China. It seemed like it was substantially lower than what you guys have been reporting in the past

ChallengingSubscriber GrowthPricingGeographic ExpansionTranscript · FY2025 Q4 →
Show response

Judy confirmed China conversion rate is lower, strategic choice. Not retaining all NE installations into service portfolio; filtering for Tier 1-2 cities with better density and contribution. Similarly, recaptures are targeted. 'Not structural but strategic Otis decisions.' Expects slight improvement but will remain lower. Price-cost: rest-of-world low-single positive, China down 1-2pts sequentially per quarter.

Challenge rate by company

Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.

CompanyQuestionsChallenge rate
CARR Carrier Global40%none of 4 questions
HUBB Hubbell Incorporated2—Rate withheld: fewer than 3 questions
JCI Johnson Controls1—Rate withheld: fewer than 3 questions
OTIS Otis Worldwide1—Rate withheld: fewer than 3 questions
  • CARR
    Carrier Global · 4 questions
    0%none of 4 questions
  • HUBB
    Hubbell Incorporated · 2 questions
    —rate withheld: under 3 questions
  • JCI
    Johnson Controls · 1 question
    —rate withheld: under 3 questions
  • OTIS
    Otis Worldwide · 1 question
    —rate withheld: under 3 questions

Activity by reporting period

Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.

Questions by calendar reporting period
Calendar periodQuestionsChallenge rateCompanies
2024 Q420%none of 2 questions1
2025 Q120%none of 2 questions1
2025 Q210%none of 1 question1
2025 Q320%none of 2 questions1
2025 Q41100%1 of 1 question1
  1. 2024 Q42 questions · challenge rate 0% (none of 2 questions) · 1 company
  2. 2025 Q12 questions · challenge rate 0% (none of 2 questions) · 1 company
  3. 2025 Q21 question · challenge rate 0% (none of 1 question) · 1 company
  4. 2025 Q32 questions · challenge rate 0% (none of 2 questions) · 1 company
  5. 2025 Q41 question · challenge rate 100% (1 of 1 question) · 1 company

Topics

Topics tagged on this analyst’s questions.

  • Pricing4
  • Demand3
  • Guidance Reliability2
  • Competitive Dynamics2
  • Subscriber Growth1
  • Geographic Expansion1
  • Regulation Policy1
  • Revenue Growth1
  • Trade Tariffs1