SEC 8-K — CARRIER GLOBAL Corp (CARR) (0001783180-25-000028) · filed 2025-05-01

EX-99.2 3 a992-historicalfinancialin.htm EX-99.2 Document Exhibit 99.2 Carrier Global Corporation 2024 Segment Results (Unaudited) 2024 (In millions) Q1 Q2 Q3 Q4 Full Year Climate Solutions Americas Net sales $ 2,360 $ 2,865 $ 2,961 $ 2,341 $ 10,527 Segment operating profit 425 713 750 435 2,323 Segment operating margin 18.0 % 24.9 % 25.3 % 18.6 % 22.1 % Climate Solutions Europe Net sales $ 1,292 $ 1,194 $ 1,246 $ 1,252 $ 4,984 Segment operating profit 167 93 129 80 469 Segment operating margin 12.9 % 7.8 % 10.4 % 6.4 % 9.4 % Climate Solutions Asia Pacific, Middle East & Africa Net sales $ 884 $ 902 $ 840 $ 874 $ 3,500 Segment operating profit 108 157 106 95 466 Segment operating margin 12.2 % 17.4 % 12.6 % 10.9 % 13.3 % Climate Solutions Transportation Net sales $ 884 $ 973 $ 937 $ 681 $ 3,475 Segment operating profit 113 138 137 97 485 Segment operating margin 12.8 % 14.2 % 14.6 % 14.2 % 14.0 % Segment Total Net sales $ 5,420 $ 5,934 $ 5,984 $ 5,148 $ 22,486 Segment operating profit 813 1,101 1,122 707 3,743 Segment operating margin 15.0 % 18.6 % 18.8 % 13.7 % 16.6 % 2024 (In millions) Q1 Q2 Q3 Q4 Full Year Reconciliation to Earnings before income taxes Segment operating profit $ 813 $ 1,101 $ 1,122 $ 707 $ 3,743 Corporate and other (49) (45) (78) (29) (201) Restructuring costs (8) (29) (60) (11) (108) Amortization of acquired intangibles (172) (170) (175) (172) (689) Acquisition step-up amortization (111) (109) (31) (31) (282) Acquisition/divestiture-related costs (48) (24) (15) (8) (95) Viessmann-related hedges (86) — — — (86) Gain on liability adjustment 46 — — — 46 CCR gain — — — 318 318 Non-service pension (expense) benefit — — (1) — (1) Interest (expense) income, net (141) (157) 8 (81) (371) Earnings before income taxes $ 244 $ 567 $ 770 $ 693 $ 2,274 1 Carrier Global Corporation 2023 Segment Results (Unaudited) 2023 (In millions) Q1 Q2 Q3 Q4 Full Year Climate Solutions Americas Net sales $ 2,215 $ 2,719 $ 2,694 $ 1,987 $ 9,615 Segment operating profit 332 579 660 260 1,831 Segment operating margin 15.0 % 21.3 % 24.5 % 13.1 % 19.0 % Climate Solutions Europe Net sales $ 522 $ 498 $ 453 $ 464 $ 1,937 Segment operating profit 61 43 44 29 177 Segment operating margin 11.7 % 8.6 % 9.7 % 6.3 % 9.1 % Climate Solutions Asia Pacific, Middle East & Africa Net sales $ 883 $ 993 $ 863 $ 842 $ 3,581 Segment operating profit 65 122 101 73 361 Segment operating margin 7.4 % 12.3 % 11.7 % 8.7 % 10.1 % Climate Solutions Transportation Net sales $ 898 $ 972 $ 925 $ 1,023 $ 3,818 Segment operating profit 124 132 121 117 494 Segment operating margin 13.8 % 13.6 % 13.1 % 11.4 % 12.9 % Segment Total Net sales $ 4,518 $ 5,182 $ 4,935 $ 4,316 $ 18,951 Segment operating profit 582 876 926 479 2,863 Segment operating margin 12.9 % 16.9 % 18.8 % 11.1 % 15.1 % 2023 (In millions) Q1 Q2 Q3 Q4 Full Year Reconciliation to Earnings before income taxes Segment operating profit $ 582 $ 876 $ 926 $ 479 $ 2,863 Corporate and other (50) (47) (49) (68) (214) Restructuring costs (4) (10) (29) (32) (75) Amortization of acquired intangibles (37) (36) (35) (35) (143) Acquisition step-up amortization (11) (10) (10) (10) (41) Acquisition/divestiture-related costs (12) (11) (35) (65) (123) TCC acquisition-related gain (8) — — — (8) Viessmann-related hedges — (111) (257) 272 (96) Bridge loan financing costs — — (1) (2) (3) Non-service pension (expense) benefit — — — (1) (1) Interest (expense) income, net (32) (55) (39) (34) (160) Earnings before income taxes $ 428 $ 596 $ 471 $ 504 $ 1,999 2

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