Carrier Global Corporation (CARR) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Carrier published the results on October 29, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Carrier reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• EPS on this page is diluted EPS from continuing operations, the figure Carrier leads with. Including discontinued operations, year-ago diluted EPS was $0.50; Q3 2026 had no discontinued operations.
• Q3 2026 GAAP results include a non-cash goodwill impairment charge of $3.1 billion for the Climate Solutions Europe reporting unit, and about $130 million of operating profit benefit from IEEPA tariff refunds.
• Carrier completed the sale of Riello on July 1, 2026 and of NORESCO on August 3, 2026; divestitures were a 3% headwind to sales growth in the quarter.

Source: Carrier Q3 2026 results, October 29, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Carrier splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Carrier's Climate Solutions Americas revenue was $3.4 billion in Q3 2026, up 24% from $2.7 billion in Q3 2025, 54% of total revenue.
• Carrier's Climate Solutions Europe revenue was $1.3 billion in Q3 2026, up 3% from $1.3 billion in Q3 2025, 21% of total revenue.
• Carrier's Climate Solutions Asia Pacific, Middle East & Africa revenue was $848 million in Q3 2026, up 2% from $833 million in Q3 2025, 14% of total revenue.
• Carrier's Climate Solutions Transportation revenue was $726 million in Q3 2026, down 3% from $745 million in Q3 2025, 12% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

Carrier's guidance table, as of October 29, 2026: sales $23.8 to $24.0 billion (prior ~$23 billion), adjusted operating profit ~$3.5 billion, adjusted EPS $2.85 to $2.90 (prior ~$2.90), free cash flow ~$2 billion.

In its Q3 2026 release, Carrier said:

“Supported by a differentiated product portfolio, record backlog, minimum volume commitments under long-term agreements, and continued recovery in RLC end markets, Carrier now expects sales of nearly $24 billion, with organic growth of approximately 10%.”

“The company remains vigilant in navigating industry-wide macro pressures, including tariffs and increasing input costs, and expects to return to shareowners approximately $2.3 billion through dividends and share repurchases.”

Source: Carrier Q3 2026 release, Oct 29, 2026.

This is the company's own guidance as of Oct 29, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the CARR forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Net sales and GAAP diluted EPS from continuing operations, each as first reported in that quarter's release.

We do not hold a confirmed date for Carrier's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 29, 2026

Carrier reports net sales in four regional and transport segments. In Q3 2026 Climate Solutions Americas brought in $3,354 million of the $6,263 million total, Climate Solutions Europe $1,335 million, Climate Solutions Asia Pacific, Middle East & Africa $848 million and Climate Solutions Transportation $726 million. Product sales were $5,585 million and service sales $678 million. (Carrier Q3 2026 release, Oct 29, 2026)

Total sales rose 12%, with organic sales up 15% and divestitures a 3% headwind. Climate Solutions Americas grew 24% (25% organic), with Residential up over 30% and Commercial up 25%. Carrier said total company orders, excluding NORESCO, rose about 35%, Commercial HVAC orders about 60% and data center orders about 300%, leaving a record backlog of more than $8.5 billion. (Carrier Q3 2026 release, Oct 29, 2026)

Climate Solutions Europe sales rose 3%: organic growth of 12% was offset by a 7% net headwind from divestitures and 2% from currency. Residential heat pump and air conditioning sales were up about 35% each, against high-single digit declines in boilers. In Asia Pacific, Middle East & Africa organic sales rose 3% on 10% Commercial growth, and Transportation sales fell 3% as Truck and Trailer more than offset growth in Container. (Carrier Q3 2026 release, Oct 29, 2026)

The three climate segments sell air conditioners, heat pumps, heating systems, building energy management systems, aftermarket components and repair and maintenance services to residential, commercial, data center and other customers. Carrier sold Riello, predominantly reported in Climate Solutions Europe, for cash proceeds of $438 million on July 1, 2026, and completed the NORESCO divestiture on August 3, 2026. (Carrier Form 10-K, 2025, Feb 5, 2026; Carrier Form 10-Q, Q3 2026, Oct 29, 2026; Carrier Q3 2026 release, Oct 29, 2026)

Carrier's GAAP diluted EPS from continuing operations was ($3.16) in Q3 2026, against $0.47, while adjusted EPS rose to $0.87 from $0.67. The gap is mostly a $3.1 billion non-cash goodwill impairment for the Climate Solutions Europe reporting unit, which Carrier tied to lower projected results, weaker demand driven in part by government policies and subsidies, and a slower shift from boilers to heat pumps. (Carrier Q3 2026 release, Oct 29, 2026; Carrier Form 10-Q, Q3 2026, Oct 29, 2026)

Adjusted EPS also excludes restructuring costs ($45 million), amortization of acquired intangible assets ($210 million) and acquisition and divestiture costs, totalling $3,364 million of adjustments before $58 million of tax effect. Carrier says adjusted EPS includes a benefit of about $0.10 from IEEPA refunds, net of about $0.02 of non-controlling interest. The GAAP effective tax rate was negative 7.5%, because tax expense was recorded on a pretax loss and the impairment is not deductible. (Carrier Q3 2026 release, Oct 29, 2026; Carrier Form 10-Q, Q3 2026, Oct 29, 2026)

Diluted shares were 821.8 million, against 858.6 million a year earlier; with a net loss, potentially dilutive shares were excluded. Carrier repurchased 18.5 million shares for $1.1 billion in the first nine months of 2026 and had about $4.2 billion left under its authorization. (Carrier Q3 2026 release, Oct 29, 2026; Carrier Form 10-Q, Q3 2026, Oct 29, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Carrier gives full-year guidance in its release. On October 29, 2026 it raised 2026 sales guidance to $23.8 to $24.0 billion, with organic growth of about 10%, from about $23 billion, and narrowed adjusted EPS to $2.85 to $2.90 from about $2.90. It kept adjusted operating profit at about $3.5 billion and free cash flow at about $2 billion. (Carrier Q3 2026 release, Oct 29, 2026)

The guidance absorbs about $225 million and $125 million of year-over-year revenue headwind from the Riello and NORESCO exits, and Carrier expects to return about $2.3 billion to shareowners through dividends and repurchases in 2026. (Carrier Q3 2026 release, Oct 29, 2026)

A consensus figure is the average of the models published by the analysts who cover Carrier, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Carrier's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning CARR is on is CARR a buy or a sell?, what analysts expect next is on the CARR forecast, and what the company does is on the Carrier Global Corporation (CARR) stock page.

Every number on this page can be traced to a document Carrier published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.