Carrier gains on FY26 sales forecast raise, higher orders and backlog
CARR•Carrier raised its FY26 sales forecast to $23.8 billion-$24.0 billion from about $23 billion after Q3 revenue of $6.26 billion and adjusted EPS of $0.87 beat estimates. Orders rose about 35%, data center orders quadrupled and backlog topped $8.5 billion.
1. Q3 results and outlook
Carrier raised its FY26 sales forecast to $23.8 billion-$24.0 billion from about $23 billion, while keeping its adjusted EPS view at $2.85-$2.90 versus a prior view of about $2.90. Q3 adjusted EPS was $0.87, including an approximately $0.10 benefit from IEEPA tariff refunds, and revenue was $6.26 billion. Total orders rose about 35%, data center orders quadrupled and record backlog exceeded $8.5 billion, up 60% year over year.
2. Profit and cash flow
Adjusted operating profit rose 33%, with margin up 260 basis points to 17.4%. Q3 free cash flow was $674 million, compared with $224 million a year earlier. Carrier also signed multibillion-dollar long-term agreements with minimum volume commitments.
