Carrier Global

htm EX-99.1 Document Exhibit 99.1 Carrier Reports Third Quarter 2025 Results Net sales down 7% organic sales down 4% Total GAAP EPS of $0.47 and adjusted EPS of $0.67 Net cash flows from operating activities were $341 million and free cash flow was $224 million Returned $3 billion to shareholders YTD, including $2.4 billion of share repurchases Expecting full-year 2025 sales of $22 billion and adjusted EPS of $2.65 Board approves $5 billion share repurchase authorization PALM BEACH GARDENS, Fla .

SEC original ↗Carrier Global — Earnings release (8-K exhibit)EX-99Oct 28, 2025

The $5 billion share repurchase authorization reflects confidence in our strategy and commitment to delivering superior value for our shareholders.

SEC original ↗Carrier Global — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Forward-looking statements may include, among other things, statements relating to future sales, earnings, cash flow, results of operations, uses of cash, share repurchases including the recent increase in Carrier's share repurchase authorization, tax rates and other measures of financial performance or potential future plans, strategies or transactions of Carrier, cost optimization actions, market conditions including with respect to residential end-markets, data center and otherwise, growth prospects for 2026 and beyond, Carrier's guidance for full-year 2025, Carrier's plans with respect to our indebtedness and other statements that are not historical facts.

SEC original ↗Carrier Global — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Organic sales, adjusted operating profit, adjusted operating margin, adjusted net income, adjusted earnings per share ( EPS ), adjusted effective tax rate and net debt are non-GAAP financial measures and are associated with Carrier's continuing operations unless specifically noted.

SEC original ↗Carrier Global — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Net debt represents long-term debt (a GAAP measure) less cash and cash equivalents (a GAAP measure).

SEC original ↗Carrier Global — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Free cash flow is a non-GAAP financial measure that represents net cash flows provided by continuing operating activities (a GAAP measure) less capital expenditures.

SEC original ↗Carrier Global — Earnings release (8-K exhibit)EX-99Oct 28, 2025

The $5 billion share repurchase authorization reflects confidence in our strategy and commitment to delivering superior value for our shareholders.

SEC original ↗Carrier Global — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Forward-looking statements can be identified by the use of words such as believe, expect, expectations, plans, strategy, prospects, estimate, project, target, anticipate, will, should, see, guidance, outlook, confident, scenario and other words of similar meaning in connection with a discussion of future operating or financial performance.

SEC original ↗Carrier Global — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Forward-looking statements may include, among other things, statements relating to future sales, earnings, cash flow, results of operations, uses of cash, share repurchases including the recent increase in Carrier's share repurchase authorization, tax rates and other measures of financial performance or potential future plans, strategies or transactions of Carrier, cost optimization actions, market conditions including with respect to residential end-markets, data center and otherwise, growth prospects for 2026 and beyond, Carrier's guidance for full-year 2025, Carrier's plans with respect to our indebtedness and other statements that are not historical facts.

SEC original ↗Carrier Global — Earnings release (8-K exhibit)EX-99Oct 28, 2025

As a result of Carrier's portfolio transformation, Carrier revised its reportable segments during the first quarter of 2025 to better reflect its business strategy, align its management reporting and increase transparency for investors.

SEC original ↗Carrier Global — Earnings release (8-K exhibit)EX-99Oct 28, 2025

An organic sales decline of 4% and a 4% headwind from net divestitures from the sale of Commercial Refrigeration in Q4 2024 were partially offset by a 1% tailwind from foreign currency translation.

SEC original ↗Carrier Global — Earnings release (8-K exhibit)EX-99Oct 28, 2025

All forward-looking statements involve risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements.

SEC original ↗Carrier Global — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Such risks, uncertainties and other factors include, without limitation, those described below and under the section titled Risk Factors in our most recent Annual Report on Form 10-K and in subsequent reports that we file with the SEC the effect of economic conditions in the industries and markets in which Carrier and our businesses operate in the U.

SEC original ↗Carrier Global — Earnings release (8-K exhibit)EX-99Oct 28, 2025

and other countries in which Carrier and our businesses operate, including the effect of ongoing uncertainty and or changes in U.

SEC original ↗Carrier Global — Earnings release (8-K exhibit)EX-99Oct 28, 2025

trade policies, on general market conditions, global trade policies, the imposition of tariffs, and currency exchange rates in the near term and beyond the effect of changes in tax, environmental, regulatory (including among other things import export) and other laws and regulations in the U.

SEC original ↗Carrier Global — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Guidance direction — prior quarter: Reiterated; this quarter: Raised

SEC original ↗Carrier Global — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Net income — prior quarter passage and this quarter's passage are both cited.

SEC original ↗Carrier Global — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Free cash flow — prior quarter passage and this quarter's passage are both cited.

SEC original ↗Carrier Global — Earnings release (8-K exhibit)EX-99Oct 28, 2025