Carrier Global

Carrier Global Corporation stands as a global leader in intelligent climate and energy solutions, with a rich history spanning over a century since Willis Carrier invented modern air conditioning in 1902. Headquartered in Palm Beach Gardens, Florida, the company operates as an independent publicly-traded entity following its April 2020 spinoff from United Technologies Corporation. Carrier serves customers in more than 160 countries across six continents, employing approximately 48,000 people worldwide as of 2024.

The company's comprehensive portfolio encompasses heating, ventilation, and air conditioning (HVAC) systems, refrigeration solutions, fire and security equipment, and building automation technologies. Through its two primary business segments—HVAC and Refrigeration—Carrier delivers mission-critical solutions for residential, commercial, and industrial applications. The HVAC segment provides advanced building solutions including rooftop units, chillers, and sophisticated building management systems for offices, retail spaces, schools, and large facilities. The Refrigeration segment, operating under Carrier Cold Chain, specializes in temperature-controlled transport and storage for perishable goods across food, healthcare, and pharmaceutical industries, offering refrigerated transport equipment, commercial refrigeration systems, and digital monitoring platforms.

In 2024, Carrier completed a transformative portfolio evolution with the $14.2 billion acquisition of Viessmann Climate Solutions, positioning the company as a digitally-enabled, end-to-end sustainable climate and energy solutions provider. This strategic acquisition significantly enhanced Carrier's capabilities in heat pumps, renewable energy, solar photovoltaic technology, battery storage, and energy management. The company also divested non-core businesses, including the sale of its Commercial and Residential Fire business for $2.9 billion and its Global Access Solutions business to Honeywell for $4.95 billion, generating over $10 billion in proceeds to focus on its core climate solutions mission.

Carrier's financial performance demonstrates sustained growth and market leadership. The company reported record revenue of $22.5 billion for fiscal year 2024, representing 19% growth compared to the previous year, driven by 3% organic sales growth and significant contributions from the Viessmann acquisition. The company achieved record adjusted earnings per share of $2.56, up 10% year-over-year, with a market capitalization ranging between $52-74 billion as of 2024-2025. Carrier maintains its commitment to innovation through substantial R&D investments, spending $686 million in 2024—a 39% increase from the prior year—to advance intelligent climate and energy solutions amid growing demand for sustainable HVAC technologies.

The company's dedication to sustainability and innovation is evident in its $4 billion commitment to sustainable research and development since 2020, with approximately $1 billion invested by 2024. Carrier launched Carrier Energy, a startup business focused on developing intelligent, grid-interactive energy solutions, including a Home Energy Management System (HEMS) designed to transform residential HVAC systems into smart energy assets. The company continues to pioneer advanced products like the AquaSnap chillers with ultra-low global warming potential refrigerants and the award-winning AquaEdge centrifugal chiller line, demonstrating its ongoing commitment to environmental responsibility and technological advancement in the climate solutions industry.