Carrier Global (CARR) 10-K Summary — Year Ended Dec 31, 2024
Carrier Global Corporation is a global leader in intelligent climate and energy solutions. The company reported annual revenue of over twenty-two billion dollars, with operating income and net income, though operating cash flow was notably lower than net income.
Key takeaway
Year ended Dec 31, 2024 · FY2025 10-K
Carrier Global Corporation is a global leader in intelligent climate and energy solutions. The company reported annual revenue of over twenty-two billion dollars, with operating income and net income, though operating cash flow was notably lower than net income.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$22.5B
Revenue reported for the fiscal year.
Operating income
$2.6B
Income from operations reported for the year.
Net income
$5.6B
Net income reported for the year.
Operating cash flow
$563M
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Mar 31, 2024 | $5.4B | n/a |
| Jun 30, 2024 | $5.9B | +9.5% |
| Sep 30, 2024 | $6B | +0.8% |
| Dec 31, 2024 | $22.5B | +275.8% |
Business overview
Carrier provides innovative HVAC, refrigeration, and cold chain transportation solutions under brands such as Carrier, Viessmann, Toshiba, Automated Logic, and Carrier Transicold. It also offers building services including audit, design, installation, and monitoring, and invests in new business models like Carrier Energy to manage energy demands.
Financial performance
Revenue grew cumulatively over the quarters, with a substantial increase in the final quarter to reach the annual total. Operating income and net income were reported, while operating cash flow was significantly lower than net income.
Material risks
The filing does not include detailed risk factor descriptions, so no specific material risks are identified from the supplied context.
Liquidity and capital
The filing does not discuss capital allocation or liquidity strategies beyond the reported operating cash flow figure.
What to watch
Monitor the trend of operating cash flow in the next filing, given its current disparity with net income.