Carrier Global Corp - Company Profile
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Business Description
Carrier Global Corp (Carrier), formerly Carrier Corp, is a provider of heating, ventilating, air-conditioning and refrigeration systems. It also offers HVAC, refrigeration, building automation, fire and security technologies under the Carrier, Carrier Transicold, Kidde, Edwards, LenelS2, and Automated Logic brand names. It operates through three reportable business segments: HVAC, Refrigeration, and Fire and Security. In FY2023, the company incurred a capital expenditure of US$469 million which increased 32.9% YoY.
R&D Overview
Carrier’s R&D arm focuses on new product development and new technology innovation as well as improving existing products and reducing production cost. The company also focuses on the improvement of existing products and reducing production costs. The company continues to invest in development of energy efficient technologies. As of December 2023, the company held approximately 14,000 active patents and pending patent applications worldwide. In FY2023, the company spent US$617 million on R&D, which as a percentage of revenue stood at 2.8%.
Business Segments
Overview
Provides commercial, residential, and industrial systems, including fire, flame, gas, smoke and carbon monoxide detection; portable fire extinguishers; fire suppression systems; intruder alarms; access control systems and video management systems; and electronic controls. Also offers fire and security service offerings, which include design, audit, installation and system integration and aftermarket maintenance and repair, and monitoring services. Major brands include Kidde, Edwards, GST, LenelS2, Marioff, Autronica, Aritech, Chubb, Det-Tronics, Onity, Supra, and Fireye. In FY2023, the segment incurred a capital expenditure of US$33 million which declined 17.5% YoY.
Performance
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Overview
Provides heating, air-conditioning, controls, building automation systems and refrigeration solutions, aftermarket components, and aftermarket repair and maintenance services. Major brands include Automated Logic, Bryant, Carlyle, Carrier, CIAT, Day & Night, Heil, NORESCO, and Riello. Sells to building contractors and owners and indirectly through independent sales representatives, joint ventures, wholesalers, distributors, dealers, and retail outlets.. In FY2023, the segment incurred a capital expenditure of US$313 million which grew 34.9% YoY.
Performance
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Overview
Provides a healthier, safer, and intelligent cold chain through the reliable transport and preservation of medicine, food, and other perishable cargo. Major brands include Carrier Transicold, Carrier Commercial Refrigeration, and Sensitech. In FY2023, the segment incurred a capital expenditure of US$30 million which declined 6.3% YoY.
Performance
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Geographical Segments
Performance
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Performance
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Performance
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Performance
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