(Reuters) – Air conditioner maker Carrier Global on Thursday raised its full-year adjusted profit above Wall Street estimates, encouraged by robust demand for the company’s heat pumps, refrigerators, and aftermarket repair services.
The Florida-based company is betting on the rapid adoption of heat pumps in European homes.
“There are 8.5 million heat pumps in European homes, which is expected to increase 25% annually to 40 million by 2030,” CEO David Gitlin said in April.
Carrier’s recent deal for German industrial manufacturer Viessmann is also expected to drive the company’s plans to expand across different geographies and boost revenue from aftermarket services.
Carrier now sees its adjusted full-year profit between $2.55 and $2.65 per share, up from its previous view of $2.50 to $2.60 per share, on strong first-half performance. Analysts, on average, expect the profit to be $2.58 per share, according to Refinitiv data.
Adjusted profit for the quarter ended June 30 came in at 79 cents per share, ahead of estimates of 77 cents. Revenue rose 15% to $6 billion, above estimates of $5.83 billion.
(Reporting by Aishwarya Nair in Bengaluru; Editing by Shailesh Kuber)
