Short answer
Carrier Global (CARR) filed its Q3 2025 10-Q quarterly report on Oct 28, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $5.6B (up 24.9% year over year) with net income of $428M.
Q3 2025 key financials · XBRL
- Revenue
- $5.6B
- +24.9% YoY · −8.7% QoQ
- Net income
- $428M
- −4.3% YoY · −27.6% QoQ
- Operating margin
- 9.7%
- EPS (diluted)
- $0.50
- +2.0% YoY · −26.5% QoQ
Source: XBRL data from the Carrier Global (CARR) Q3 2025 10-Q on SEC EDGAR. USD.
Carrier Global Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $5.6B Q3 2025, down 7% YoY ($6.0B in Q3 2024), driven by 4% organic decline and 4% from acquisitions/divestitures
- Operating margin 15.5% vs 18.8% YoY in Q3; gross margin 26.0% vs 28.0% YoY, down 200bps due to volume declines and amortization fully recognized in prior year
- Best segment Q3: Climate Solutions Transportation $115M segment profit, down 16% YoY but with 6% organic sales growth; Worst: Climate Solutions Americas $533M segment profit, down 29% YoY on 8% sales decline
- Cash and equivalents dropped to $1.4B from $4.0B end 2024; operating cash flow $1.1B for 9 months 2025, down from $1.2B prior year; repurchased $2.4B stock and paid $583M dividends in nine months
- Near-term: Management expects tariff impact on 2025 fully mitigated via pricing/productivity; economic challenges and lower demand persistent in residential and EMEA markets; share repurchase program increased by $5B in Oct 2025
Risk Factors
- Supply chain disruptions impacting production and delivery schedules continue as key operational risk
- Competition from established HVAC and refrigeration companies remains intense, affecting market share gains
- Potential regulatory changes in refrigerant usage and emissions standards pose compliance and legal risks
- Currency fluctuations in international markets expose revenues to foreign exchange rate volatility
- Debt maturities concentrated in 2026 require careful liquidity management to meet obligations on time
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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