Carrier Global plans to repurchase $1B of shares in second half

“Carrier delivered another quarter of strong financial performance, while making great progress with our portfolio transformation,” said Carrier Chairman & CEO David Gitlin. “We delivered solid sales and roughly 30% orders growth as we continue to outperform in our markets. Our strong operational execution drove 200 basis points of adjusted operating margin expansion and double-digit adjusted earnings growth. Year-to-date, we also closed on two of our four business exits, and the remaining two continue to track well. The proceeds from the exits, combined with our strong free cash flow performance, have enabled us to reduce net debt by about $5 billion in the quarter and we now plan to repurchase about $1 billion of shares in the second half of 2024.”