Carrier Global Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	22,058	22,486	18,951	17,288	20,613	17,456
Revenue Growth (YoY)	1.87%	18.65%	9.62%	-16.13%	18.09%	-6.19%
Cost of Revenue	16,023	16,463	13,776	12,985	14,605	12,327
Gross Profit	6,035	6,023	5,175	4,303	6,008	5,129
Selling, General & Admin	3,083	3,092	2,466	1,938	2,979	2,590
Research & Development	627	686	493	416	503	419
Other Operating Expenses	-62	-85	9	-8	-42	45
Operating Expenses	3,648	3,693	2,968	2,346	3,440	3,054
Operating Income	2,387	2,330	2,207	1,957	2,568	2,075
Interest Expense	-461	-580	-306	-157	-306	-288
Interest & Investment Income	110	209	146	-	-	-
Earnings From Equity Investments	226	231	211	262	249	207
EBT Excluding Unusual Items	2,262	2,190	2,258	2,062	2,511	1,994
Merger & Restructuring Charges	-101	-234	-251	-49	-89	-49
Gain (Loss) on Sale of Investments	-	-	-8	705	-2	1,051
Gain (Loss) on Sale of Assets	325	318	-	1,105	-	-
Other Unusual Items	-	-	-	-	-20	-141
Pretax Income	2,486	2,274	1,999	3,823	2,400	2,855
Income Tax Expense	995	1,062	521	616	699	849
Earnings From Continuing Operations	1,491	1,212	1,478	3,207	1,701	2,006
Earnings From Discontinued Operations	2,603	4,496	-38	377	-	-
Net Income to Company	4,094	5,708	1,440	3,584	1,701	2,006
Minority Interest in Earnings	-112	-104	-91	-50	-37	-24
Net Income	3,982	5,604	1,349	3,534	1,664	1,982
Net Income to Common	3,982	5,604	1,349	3,534	1,664	1,982
Net Income Growth	14.66%	315.42%	-61.83%	112.38%	-16.04%	-6.33%
Shares Outstanding (Basic)	865	898	837	843	868	867
Shares Outstanding (Diluted)	877	912	853	861	890	880
Shares Change (YoY)	-2.51%	6.88%	-0.95%	-3.27%	1.15%	1.62%
EPS (Basic)	4.60	6.24	1.61	4.19	1.92	2.29
EPS (Diluted)	4.55	6.15	1.59	4.11	1.87	2.25
EPS Growth	17.82%	287.99%	-61.40%	119.67%	-16.89%	-7.90%
Free Cash Flow	1,127	44	2,168	1,426	1,893	1,380
Free Cash Flow Per Share	1.29	0.05	2.54	1.66	2.13	1.57
Dividend Per Share	0.900	0.795	0.745	0.635	0.510	0.280
Dividend Growth	18.42%	6.71%	17.32%	24.51%	82.14%	-
Gross Margin	27.36%	26.79%	27.31%	24.89%	29.15%	29.38%
Operating Margin	10.82%	10.36%	11.65%	11.32%	12.46%	11.89%
Profit Margin	18.05%	24.92%	7.12%	20.44%	8.07%	11.35%
Free Cash Flow Margin	5.11%	0.20%	11.44%	8.25%	9.18%	7.91%
EBITDA	3,650	3,562	2,698	2,285	2,906	2,411
EBITDA Margin	16.55%	15.84%	14.24%	13.22%	14.10%	13.81%
D&A For EBITDA	1,263	1,232	491	328	338	336
EBIT	2,387	2,330	2,207	1,957	2,568	2,075
EBIT Margin	10.82%	10.36%	11.65%	11.32%	12.46%	11.89%
Effective Tax Rate	40.02%	46.70%	26.06%	16.11%	29.13%	29.74%
Revenue as Reported	22,058	22,486	18,951	17,288	20,613	17,456

Source: S&P Global Market Intelligence. Standard template. Financial Sources.