CARR changes
Pick any two versions below to diff them.
- Price
- $54.96 → $56.47(+2.7%)
- Discount
- 21% to 35% → 18% to 33%(−3.0 pts)
- Risks
- Margins fall. The adjusted operating margin fell 190 basis points to 17.2% in Q2 2026, and the Climate Solutions Americas margin fell 260 basis points, because input costs and the business mix were unfavorable. If prices do not catch up, earnings can fall further. Residential HVAC demand depends on housing, interest rates and replacement cycles. Organic sales fell 1% in Q1 2026 before they grew 3% in Q2 2026. A new downturn would hit the largest segment. Section 232 tariffs on steel, aluminum and copper, updated on April 2, 2026, raise input costs. Carrier plans to offset them with supply chain changes, cost cuts and prices, but the effect can come with a delay. Much of the order growth comes from data centers. If spending on AI data centers slows, orders and the backlog can fall. Proposed class actions filed from March 2026 claim that Carrier and other large HVAC makers, such as Trane, Lennox, Daikin and Rheem, fixed prices from 2020. Carrier denies the claims. On October 9, 2026, the makers asked the court to dismiss the cases. A loss can bring damages and legal costs.