Viessmann drives Carrier sales increase
26th October 2024
USA: Carrier has reported has reported Q3 net sales of $6bn up 21% compared to last year.
The acquisition of Viessmann Climate Solutions, which was completed in January, contributed approximately 17% to the sales figures.
Organic sales in the HVAC segment were up 6%. HVAC sales in the Americas were up high-single-digits driven by continued strength in commercial HVAC, which was up almost 20%, and double-digit growth in North America residential HVAC.
HVAC organic sales in EMEA were up low-single-digits, with commercial HVAC up double-digits offsetting a decline in Residential and light commercial HVAC sales.
These organic figures exclude the sales contribution of Viessmann Climate Solutions which was up 8% sequentially and down around 25% year-over-year.
HVAC sales in Asia Pacific were down low-single-digits driven by declines in residential light commercial in China, partially offset by strength in commercial HVAC and other countries in Asia. Refrigeration sales were up 1% organically driven by over 30% growth in container, mostly offset by declines in North America truck and trailer.
GAAP operating profit in the quarter of $0.8bn was up 50% from last year primarily due to operational performance and the addition of Viessmann Climate Solutions.
