Carrier Global raises 2026 sales outlook and narrows its earnings range

Carrier Global raised its 2026 sales forecast to a range of $23.8 billion to $24.0 billion. The company had previously expected about $23 billion. Earnings per share (EPS), the profit attributed to each share, was $0.87 for the third quarter, $0.09 above expectations. Revenue for the quarter was $6.26 billion, against $6.19 billion expected.

For the full year, Carrier narrowed its adjusted EPS forecast to $2.85 to $2.90. Previously it expected about $2.90. The company kept its forecasts for adjusted operating profit of about $3.5 billion and free cash flow, the cash left after capital spending, of about $2 billion. It expects to return about $2.3 billion to shareholders in 2026 through dividends and share buybacks.

Chairman and chief executive David Gitlin said record backlog and continued demand give the company confidence to deliver double-digit organic sales and adjusted EPS growth in 2026. He also said it expects that momentum to continue into 2027. Organic growth excludes the effects of acquisitions and currency moves.

The sales outlook now sits above the roughly $23 billion view the company gave after its second quarter. The earnings outlook was tightened rather than raised, and its midpoint sits slightly below the earlier figure. The growth target depends on orders already booked turning into sales and profit. Adjusted operating profit of about $3.5 billion and free cash flow of about $2 billion are the measures to watch for whether that happens.