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Reporting soon: earnings call Thursday, Oct 29
A pre-earnings brief is ready for CARR: the setup, what peers and partners said this season, and which analysts to watch.Reading it is a Tellvest Pro feature.
Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
| Analyst | Firm | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Joe Ritchie | Goldman Sachs | 14 questions · 7% challenging |
| Chris Snyder | Morgan Stanley | 14 questions · 14% challenging |
| Deane Dray | RBC Capital Markets | 14 questions · 0% challenging |
| Andy Kaplowitz | Citigroup | 14 questions · 7% challenging |
| Jeff Sprague | Vertical Research Partners | 12 questions · 17% challenging |
| Julian Mitchell | Barclays | 12 questions · 0% challenging |
| Nigel Coe | Wolfe Research | 11 questions · 9% challenging |
| Scott Davis | Melius Research | 10 questions · 0% challenging |
| Andrew Obin | Bank of America | 10 questions · 20% challenging |
| Joe O'Dea | Wells Fargo | 9 questions · 0% challenging |
| Firm | Analysts | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Morgan Stanley | 1 analyst | 14 questions · 14% challenging |
| Goldman Sachs | 1 analyst | 14 questions · 7% challenging |
| RBC Capital Markets | 1 analyst | 14 questions · 0% challenging |
| Citigroup | 1 analyst | 14 questions · 7% challenging |
| Barclays | 1 analyst | 12 questions · 0% challenging |
| Vertical Research Partners | 1 analyst | 12 questions · 17% challenging |
| Wolfe Research | 1 analyst | 11 questions · 9% challenging |
| JPMorgan | 3 analysts | 11 questions · 0% challenging |
Carrier posted approximately flat organic sales with adjusted EPS of $0.57 declining 12% year-over-year, burdened by approximately $335 million in restructuring and acquisition-related charges on the GAAP line. The company reaffirmed full-year guidance of approximately $2.80 adjusted EPS. Data center orders surged over 500% with strong backlog, while Americas residential HVAC remained under pressure and China residential weakness persisted with no bottom in sight.
Calendar quarter Q1 2026Earnings call Apr 30, 2026
FY2026 Q1 in brief
Carrier posted approximately flat organic sales with adjusted EPS of $0.57 declining 12% year-over-year, burdened by approximately $335 million in restructuring and acquisition-related charges on the GAAP line.
Newest quarter FY2026 Q2 is part of Pro · see what Pro adds →
Sources. Tellvest earnings-call sentiment score for Carrier Global (CARR), FY2026 Q1: 4/10. Scores: Carrier Global’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: CARR daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
Demand | Margin | Revenue Growth | Pricing | Inventory | Regulation Policy | Cloud & AI | Trade Tariffs | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 9 | 3 | 4 | 5 | 3 | 3 | 1 | 2 |
| 2025Q1 | 9 | 5 | 7 | 3 | 2 | 3 | 3 | 4 |
| 2025Q2 | 11 | 7 | 6 | 4 | 4 | 3 | 1 | |
| 2025Q3 | 15 | 3 | 5 | 5 | 5 | 3 | 1 | 1 |
| 2025Q4 | 12 | 5 | 1 | 2 | 5 | 1 | 3 | |
| 2026Q1 | 9 | 6 | 5 | 6 | 2 | 4 | 5 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 9 | 9 | 11 | 15 | 12 | 9 |
| Margin | 3 | 5 | 7 | 3 | 5 | 6 |
| Revenue Growth | 4 | 7 | 6 | 5 | 1 | 5 |
| Pricing | 5 | 3 | 4 | 5 | 2 | 6 |
| Inventory | 3 | 2 | 4 | 5 | 5 | |
| Regulation Policy | 3 | 3 | 3 | 3 | 1 | 2 |
| Cloud & AI | 1 | 3 | 1 | 1 | 3 | 4 |
| Trade Tariffs | 2 | 4 | 1 | 5 |
GAAP revenue YoY +2.36% → base 5. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
What CARR said about other companies on its FY2026 Q1 call, and what other companies said about CARR on their calls covering the same calendar quarter (Q1 2026). Each company's own fiscal quarter is shown next to its name. Extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Our CSAME business introduced a new Toshiba-branded side-discharge VRF platform, featuring best-in-class efficiency, distinctive aesthetics, low noise performance and high reliability.”
Carrier launched a new Toshiba-branded VRF platform through its Toshiba joint-venture relationship, signaling continued product collaboration on the Toshiba brand.
“Earlier this week, we announced our expanded investment in partnership with ZutaCore, which will further enhance our technology differentiation in this space.”
Carrier expanded its equity investment and strategic partnership with ZutaCore for two-phase liquid cooling, a bet on where data center thermal management is heading.
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $5.15B | +19.3% | $2.82 | +475.5% | 15.0% | 49.6% | $-85M |
| FY2025 Q1 | $5.22B | -3.7% | $0.47 | +62.1% | 12.1% | 7.9% | $420M |
| FY2025 Q2 | $6.11B | +3.0% | $0.68 | -73.3% | 14.8% | 9.7% | $568M |
| FY2025 Q3 | $5.58B | -6.8% | $0.50 | +2.0% | 9.7% | 7.7% | $224M |
| FY2025 Q4 | $4.84B | -6.0% | $0.06 | -97.9% | 2.1% | 1.1% | $909M |
| FY2026 Q1Selected | $5.34B | +2.4% | $0.28 | -40.4% | 4.8% | 4.5% | $-15M |
| FY2026 Q2 | $6.35B | +3.9% | $0.60 | -11.8% | 13.0% | 7.9% | $810M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
| Company | Score | Trend | Rev YoY | Headline |
|---|---|---|---|---|
| CARRCarrier Global | 4 | +2.4% | Data center orders surge over 500% with strong backlog | |
| BLDRBuilders FirstSource | 1 | -10.1% | Builders FirstSource Q1 FY2026 saw revenue decline 10% to $3.3 billion as the Middle East conflict undermined what had been a promising spring selling season, pushing mortgage rates higher and sapping private builder confidence | |
| JCIJohnson Controls | 9 | +8.2% | Johnson Controls posted Q2 FY2026 with organic revenue growing 6% and adjusted EPS of $1.19, up 45% year-over-year, as data center orders surged driving 30% total order growth and a record $20 billion backlog | |
| LIILennox International | 6 | +5.8% | Return to Revenue Growth Driven by BCS and M&A | |
| MASMasco | 6 | +6.5% | Strong Q1 with 20% EPS growth and margin expansion | |
| TTTrane Technologies | 7 | +6.0% | Record Commercial HVAC Bookings and Backlog |
Data center orders surge over 500% with strong backlog
Builders FirstSource Q1 FY2026 saw revenue decline 10% to $3.3 billion as the Middle East conflict undermined what had been a promising spring selling season, pushing mortgage rates higher and sapping private builder confidence
Johnson Controls posted Q2 FY2026 with organic revenue growing 6% and adjusted EPS of $1.19, up 45% year-over-year, as data center orders surged driving 30% total order growth and a record $20 billion backlog
| Company | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 |
|---|---|---|---|---|---|---|
| CARR | 8 | 7 | 7 | 1 | 3 | 4 |
| BLDR | 3 | 1 | 1 | 4 | 3 | 1 |
| JCI | 9 | 8 | 8 | 8 | 9 | 9 |
| LII | 9 | 5 | 9 | 3 | 3 | 6 |
| MAS | 6 | 1 | 3 | 2 | 4 | 6 |
| TT | 9 | 8 | 6 | 6 | 7 | 7 |
Return to Revenue Growth Driven by BCS and M&A