Carrier Global Corp Q3 Profit Increases, But Misses Estimates

(RTTNews) - Carrier Global Corp (CARR) revealed earnings for its third quarter that increased from last year but missed the Street estimates.

The company's earnings came in at $447 million, or $0.49 per share. This compares with $357 million, or $0.42 per share, in last year's third quarter.

Excluding items, Carrier Global Corp reported adjusted earnings of $705 million or $0.77 per share for the period.

Analysts on average had expected the company to earn $0.82 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 21.3% to $5.984 billion from $4.935 billion last year.

Carrier Global Corp earnings at a glance (GAAP) :

-Earnings (Q3): $447 Mln. vs. $357 Mln. last year. -EPS (Q3): $0.49 vs. $0.42 last year. -Revenue (Q3): $5.984 Bln vs. $4.935 Bln last year.

-Guidance: Full year EPS guidance: $2.50 Full year revenue guidance: $22.5 Bln