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Carrier Global Corporation (CARR) has entered into a definitive agreement to sell its global commercial refrigeration business to Haier (600690) for an enterprise value of $775 million, including $200 million of net pension liabilities.
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Carrier Global Corporation (CARR) has entered into a definitive agreement to sell its security business, Global Access Solutions, to Honeywell (HON) for an enterprise value of $4.95 billion. The sale represents approximately 17x 2023 expected EBITDA and is a part of Carrier's portfolio transformation strategy. The net proceeds from the transaction are expected to be approximately $4 billion, which Carrier plans to use to pay down debt and resume share repurchases as soon as its net leverage returns to approximately 2x EBITDA.
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Honeywell (HON) announced the acquisition of Carrier Global Corporation's (CARR) Global Access Solutions business for $4.95 billion in an all-cash transaction. The purchase price represents approximately 13x 2023E EBITDA, inclusive of tax benefits and run-rate cost synergies. The acquisition will enhance Honeywell's building automation capabilities, strengthening its strategic alignment to the megatrend of automation and will be immediately accretive to growth, gross margins, and operating margins. By the fifth full year of ownership, the acquisition is expected to achieve a double-digit cash-ROIC.
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Carrier Global Corporation (NYSE:CARR) declares a quarterly dividend of $0.19 per share, reflecting confidence in its long-term prospects and portfolio transformation. The dividend will be payable on February 9, 2024, to shareowners of record at the close of business on December 21, 2023. Carrier is committed to delivering shareholder value through disciplined capital allocation, including organic growth investments, dividends, acquisitions, and share buybacks.
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Carrier Global Corporation (CARR) has successfully closed private offerings of $3,000,000,000 USD-denominated notes and €2,350,000,000 euro-denominated notes. The weighted average cost of the debt associated with these offerings is approximately 5.07%, resulting in an overall weighted average cost of Carrier's outstanding long-term debt of under 4%. The net proceeds will be used to fund the acquisition of the climate solutions business of Viessmann Group GmbH & Co. KG and pay fees and expenses related to the acquisition.
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Carrier Global Corporation (NYSE: CARR) Announces Pricing of $3,000,000,000 USD Notes and €2,350,000,000 Euro Notes Offering for Acquisition Financing. The notes consist of various denominations and are expected to close on November 29 and 30, 2023. The proceeds will fund the acquisition of Viessmann Group GmbH & Co. KG's climate solutions business.
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Carrier Global Corporation's Chairman & CEO, David Gitlin, will speak at the Baird 2023 Global Industrial Conference on November 7, 2023. The event will be broadcast live at ir.carrier.com and a webcast replay will be available on the website.
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Carrier Global Corporation reports strong financial results for Q3 2023, with net sales up 5% and organic sales up 3%. GAAP EPS is $0.42 and adjusted EPS is $0.89. Net cash inflows from operating activities were $1.04 billion and free cash flow generation was $949 million. Carrier raises adjusted EPS guidance for 2023 to ~$2.70.
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Kidde has been named to Fast Company's Brands That Matter list for its innovative home safety devices and education efforts. The brand's Cause for Alarm campaign aims to address gaps in fire safety education and access among vulnerable communities. Kidde has donated $1 million in smoke alarms to communities in need.
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Carrier Global Corporation declares quarterly dividend
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-3.52%
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Carrier Global Corporation
NYSE:CARR
CARR Rankings
CARR Stock Data
59.45B
837.52M
6.64%
86.05%
1.57%
Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing
Manufacturing
United States of America
PALM BEACH GARDENS
About CARR
pratt & whitney, a united technologies corp. company (nyse:utx), is a world leader in the design, manufacture and service of aircraft engines and auxiliary power units. pratt & whitney's large commercial engines power more than 25 percent of the world's mainline passenger fleet. the company continues to develop new engines and work with its partners in international aero engines and the engine alliance to meet airline customers' future needs. pratt & whitney has built a long and distinguished record of providing top-of-the-line engines to 29 armed forces around the world. our military engines power front line fighters, such as the f-15 eagle, f-16 fighting falcon, f-22 raptor and f-35 lightning ii, as well as the c-17 globemaster iii military transport and boeing's kc-46, the u.s. air force's new airlift tanker. pratt & whitney canada has produced more than 75,000 engines, of which there are currently more than 49,000 engines in service on more than 28,000 aircraft operated by more th