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Carrier Global: climate hardware has to convert portfolio focus into cash after debt

CARRResearch reportPosted by Goglides ResearchMay 19, 2026
NYSECARRCoverage BootstrapCarrier Global Corporation

Thesis summary

Carrier Global reported FY2025 revenue of $21.75 billion and Q1 2026 revenue of $5.34 billion, with the official record tying the thesis to HVAC demand, refrigeration exposure, portfolio simplification, margins, debt and cash conversion.

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Carrier Global reported FY2025 revenue of $21.75 billion and Q1 2026 revenue of $5.34 billion, with the official record tying the thesis to HVAC demand, refrigeration exposure, portfolio simplification, margins, debt and cash conversion.

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