Income StatementBalance SheetCash FlowSegments
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Carrier Global Business Segments

Business, geographic, and product segment breakdowns

Carrier Global generates $21.9B in annual revenue across 4 key segments: Climate Solutions Americas ($2.5B), Climate Solutions Asia Pacific, Middle East & Africa ($834.0M), Climate Solutions Europe ($1.3B), and Climate Solutions Transportation ($713.0M). The company-wide operating margin is 8.24%. Based on the Q1 2026 filing.

Climate Solutions Americas$2.5BClimate Solutions Asia Pacific, Middle East & Africa$834.0MClimate Solutions Europe$1.3BClimate Solutions Transportation$713.0MCSA (TTM)$10.5BCSAME (TTM)$3.3BCSE (TTM)$5.0B
Latest FilingQ1 2026
Report Date2026-04-30
Market Cap$55.5B
P/E Ratio42.37
ROE9.36%

Products & Services

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total Net sales$494.0M$566.0M$636.0M$673.0M$699.0M$674.0M
Purchases from equity method investees included in Cost of products sold$420.0M$415.0M$477.0M$474.0M$525.0M$506.0M

Geographic

Fixed assets, net

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Asia Pacific$486.0M———$482.0M—
Europe$1.3B———$1.4B—
Other$453.0M———$490.0M—

Total Net sales

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Europe$1.1B$1.4B$1.5B$1.6B$1.6B$1.5B
Asia Pacific$750.0M$941.0M$981.0M$961.0M$958.0M$986.0M
Other$81.0M$138.0M$183.0M$198.0M$159.0M$149.0M

Business Segments

Acquisitions

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Climate Solutions Americas—————$10.0M
Climate Solutions Asia Pacific, Middle East & Africa—————$0.0
Climate Solutions Europe—————$0.0
Climate Solutions Transportation—————$0.0

Equity method investment net earnings

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Climate Solutions Asia Pacific, Middle East & Africa—$18.0M$30.0M$28.0M—$17.0M
Climate Solutions Americas—$26.0M$43.0M$33.0M—$13.0M
Climate Solutions Transportation—$2.0M———$3.0M
Climate Solutions Europe—-$2.0M$1.0M$0.0—-$1.0M
CSA$33.8M$31.5M$31.5M$31.5M$31.5M—
CSAME$23.0M$25.0M$25.0M$25.0M$25.0M—
CSE-$250.0K-$750.0K-$750.0K-$750.0K-$750.0K—

Foreign currency translation

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Climate Solutions Europe—$319.0M$608.0M$4.0M—-$191.0M
Climate Solutions Transportation—————-$8.0M
Climate Solutions Americas—$1.0M$3.0M-$2.0M—-$2.0M
Climate Solutions Asia Pacific, Middle East & Africa—$28.0M$26.0M-$11.0M—-$1.0M
CSA-$2.5M$1.0M$1.0M$1.0M$1.0M—
CSAME-$23.0M$6.0M$6.0M$6.0M$6.0M—
CSE-$132.3M$236.3M$236.3M$236.3M$236.3M—

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Climate Solutions Europe$7.0B$7.4B$8.0B$8.0B$7.8B$7.6B
Climate Solutions Americas$5.1B$5.1B$5.1B$5.1B$5.1B$5.1B
Climate Solutions Asia Pacific, Middle East & Africa$1.4B$1.4B$1.4B$1.4B$1.4B$1.4B
Climate Solutions Transportation————$1.2B$1.2B
CSA$5.1B———$5.1B—
CSAME$1.4B———$1.4B—
CSE$7.0B———$7.8B—

Other Income (Expense)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Climate Solutions Americas—$8.0M$11.0M-$18.0M—-$14.0M
Climate Solutions Asia Pacific, Middle East & Africa—$13.0M$19.0M$3.0M—$2.0M
Climate Solutions Europe—$1.0M$7.0M$1.0M—$2.0M
Climate Solutions Transportation—$0.0———-$1.0M
CSA$2.5M$2.5M$2.5M$2.5M$2.5M—
CSAME$10.5M$11.3M$11.3M$11.3M$11.3M—
CSE-$750.0K$2.8M$2.8M$2.8M$2.8M—

Purchases from equity method investees included in Cost of products sold

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Climate Solutions Americas—$1.7B$2.1B$1.8B—$1.8B
Climate Solutions Europe—$788.0M$883.0M$888.0M—$904.0M
Climate Solutions Asia Pacific, Middle East & Africa—$609.0M$654.0M$630.0M—$640.0M
Climate Solutions Transportation—$471.0M———$525.0M
CSA$1.7B$1.8B$1.8B$1.8B$1.8B—
CSAME$644.8M$624.8M$624.8M$624.8M$624.8M—
CSE$842.0M$873.5M$873.5M$873.5M$873.5M—

Reclassified to held for sale

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Climate Solutions Europe—————$4.0M
Climate Solutions Americas—————$0.0
Climate Solutions Asia Pacific, Middle East & Africa—————$0.0
Climate Solutions Transportation—————$0.0

Research and Development Expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Climate Solutions Americas—$86.0M$89.0M$83.0M—$77.0M
Climate Solutions Europe—$18.0M$19.0M$19.0M—$21.0M
Climate Solutions Asia Pacific, Middle East & Africa—$15.0M$16.0M$15.0M—$15.0M
Climate Solutions Transportation—$16.0M———$15.0M
CSA$97.5M$86.8M$86.8M$86.8M$86.8M—
CSAME$17.3M$15.3M$15.3M$15.3M$15.3M—
CSE$20.3M$18.8M$18.8M$18.8M$18.8M—

Restructuring Charges

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Climate Solutions Europe—$0.0$26.0M$22.0M—$86.0M
Climate Solutions Americas—$3.0M$1.0M$8.0M—$3.0M
Climate Solutions Asia Pacific, Middle East & Africa—$1.0M$7.0M$6.0M—$3.0M
Climate Solutions Transportation—$1.0M$1.0M$3.0M—$2.0M
CSA$2.3M$5.8M$5.8M$5.8M$5.8M—
CSAME$2.5M$6.5M$6.5M$6.5M$6.5M—
CSE$17.5M$23.0M$23.0M$23.0M$23.0M—
CST$2.0M$2.0M$2.0M$2.0M$2.0M—

Segment operating profit

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Climate Solutions Americas—$570.0M$879.0M$533.0M—$373.0M
Climate Solutions Transportation—$97.0M———$101.0M
Climate Solutions Europe—$105.0M$99.0M$120.0M—$89.0M
Climate Solutions Asia Pacific, Middle East & Africa—$121.0M$135.0M$97.0M—$81.0M
CSA$580.8M$537.5M$537.5M$537.5M$537.5M—
CSAME$116.5M$112.0M$112.0M$112.0M$112.0M—
CSE$117.3M$111.0M$111.0M$111.0M$111.0M—

Selling, General and Administrative Expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Climate Solutions Americas—$250.0M$277.0M$273.0M—$280.0M
Climate Solutions Europe—$257.0M$260.0M$264.0M—$280.0M
Climate Solutions Asia Pacific, Middle East & Africa—$112.0M$126.0M$122.0M—$117.0M
Climate Solutions Transportation—$69.0M———$74.0M
CSA$240.5M$259.0M$259.0M$259.0M$259.0M—
CSAME$130.0M$119.0M$119.0M$119.0M$119.0M—
CSE$265.5M$259.8M$259.8M$259.8M$259.8M—

Total Net sales

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Climate Solutions Americas—$2.6B$3.3B$2.7B—$2.5B
Climate Solutions Europe—$1.2B$1.3B$1.3B—$1.3B
Climate Solutions Asia Pacific, Middle East & Africa—$826.0M$882.0M$833.0M—$834.0M
Climate Solutions Transportation—$651.0M———$713.0M
CSA$2.6B$2.6B$2.6B$2.6B$2.6B—
CSAME$875.0M$834.8M$834.8M$834.8M$834.8M—
CSE$1.2B$1.3B$1.3B$1.3B$1.3B—

Capital Expenditures

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
CSA$49.5M$37.8M$37.8M$37.8M$37.8M—
CSAME$12.0M$9.8M$9.8M$9.8M$9.8M—
CSE$49.3M$33.8M$33.8M$33.8M$33.8M—
CST$8.0M$6.3M$6.3M$6.3M$6.3M—

Depreciation & Amortization

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
CSA$33.5M$33.3M$33.3M$33.3M$33.3M—
CSAME$53.3M$49.5M$49.5M$49.5M$49.5M—
CSE$203.3M$219.5M$219.5M$219.5M$219.5M—
CST$8.8M$6.5M$6.5M$6.5M$6.5M—

Equity method investment, percentage of investments in segment

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
CSA————0.56—
CSAME————0.40—

Goodwill resulting from business combinations

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
CSA$131.5M$3.0M$3.0M$3.0M$3.0M—
CSAME$58.8M$1.5M$1.5M$1.5M$1.5M—
CSE$1.7B$750.0K$750.0K$750.0K$750.0K—
CST$8.3M$11.0M$11.0M$11.0M$11.0M—

Goodwill, Transfers

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
CSA—$0.0$0.0$0.0$0.0—
CSAME—$0.0$0.0$0.0$0.0—
CSE—-$43.8M-$43.8M-$43.8M-$43.8M—
CST—$0.0$0.0$0.0$0.0—

Segment Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
CSA$1.4B———$1.5B—
CSAME$952.0M———$988.0M—
CSE$1.6B———$1.7B—
CST$818.0M———$915.0M—