Carrier Global reports Q1 adjusted EPS 57c, consensus 51c

Reports Q1 revenue $5.34B, consensus $5.01B. Reports total company orders up 11%. “We started the year with better-than-expected sales performance across the portfolio,” said Carrier Chairman & CEO David Gitlin. “Orders in our global Commercial HVAC1 business increased 35%, helped by data centers which were up over 500% in the quarter. The strong double-digit sequential increase in Commercial HVAC backlog gives us the confidence to drive our sixth consecutive year of double-digit growth in this business. CSA Light Commercial and CSE Residential both delivered growth, while CSA Residential came in better than expected. I am pleased with the team’s performance in the first quarter, and we are reaffirming our full-year outlook.”