Every material Form 8-K Carrier Global filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Carrier reported third-quarter 2025 net sales of $5.6 billion, down 7% from a year earlier, and GAAP operating profit of $539 million, down 29%. The company cut its full-year 2025 guidance, with adjusted EPS now about $2.65 versus the prior $3.00 to $3.10, and its board approved a $5 billion increase to the share repurchase authorization, bringing the amount available to about $5.8 billion.
Q3 net sales $5.6 billion, down 7%; organic sales down 4%
Diluted GAAP EPS from continuing operations $0.47 vs. $0.62 a year earlier; adjusted EPS $0.67 vs. $0.77
Full-year 2025 guidance: sales about $22 billion (prior about $23 billion); adjusted EPS about $2.65 (prior $3.00 to $3.10)
Board approved $5 billion buyback increase, effective October 28, 2025; authorization has no time limit
Carrier Global appointed Beril Yildiz as Vice President, Controller and Chief Accounting Officer, effective when she starts on September 22, 2025. Patrick Goris, the company's CFO, has been serving as interim Controller since May 2, 2025 and will hand that role over on her start date while remaining Senior Vice President and Chief Financial Officer.
Beril Yildiz, age 47, previously was Senior Vice President, Controller and Chief Accounting Officer at International Flavors & Fragrances from September 2022 to August 2025
Yildiz's compensation includes a $500,000 annual base salary, a 60% target annual bonus, a $470,000 annual long-term incentive target, and a $750,000 sign-on equity grant
Yildiz also receives an $800,000 cash sign-on award and standard relocation expenses
Carrier Global reported second-quarter 2025 net sales of $6.1 billion, up 3% from a year earlier, with organic sales up 6%. Adjusted earnings per share rose 26% to $0.92, and GAAP diluted EPS from continuing operations rose 56% to $0.70. The company reaffirmed its full-year 2025 guidance, including adjusted EPS of $3.00 to $3.10 and free cash flow of $2.4 billion to $2.6 billion.
Q2 2025 net sales were $6.1 billion, up 3%; organic sales rose 6%, offset by a 4% headwind from divestitures, mainly Commercial Refrigeration.
Adjusted EPS was $0.92, up 26% from $0.73; GAAP EPS from continuing operations was $0.70, up from $0.45.
Free cash flow was $568 million in the quarter, compared with $549 million a year earlier.
Full-year 2025 guidance was unchanged: adjusted EPS of $3.00 to $3.10 and free cash flow of $2.4 billion to $2.6 billion.
Carrier reported first quarter 2025 net sales of $5.2 billion, down 4%, while adjusted EPS rose 27% to $0.65 and GAAP EPS rose to $0.47 from $0.19. The company raised its full-year 2025 adjusted EPS guidance to $3.00 to $3.10 from $2.95 to $3.05, and it also changed its segment reporting structure.
Adjusted EPS was $0.65 versus $0.51 a year earlier; GAAP EPS from continuing operations was $0.47 versus $0.19.
Net sales were $5.2 billion, down 4%; organic sales grew 2%, with a 5% headwind from net acquisitions and divestitures.
Full-year 2025 adjusted EPS guidance was raised to $3.00 to $3.10 from $2.95 to $3.05; free cash flow guidance of $2.4 billion to $2.6 billion was unchanged.
Free cash flow was $420 million in the quarter, and the company paid down $1.2 billion of debt and returned $1.5 billion to shareholders.
Carrier Global said its Vice President, Controller and Chief Accounting Officer, Kyle Crockett, is resigning to pursue another opportunity, with his last day expected on or about May 2, 2025. The filing states the departure was for personal reasons and not tied to any disagreement about financial statements, internal controls, operations, policies or practices. Chief Financial Officer Patrick Goris agreed to serve as interim Controller starting May 2, 2025, while the company searches for a permanent replacement.
Kyle Crockett, Vice President, Controller and Chief Accounting Officer, resigns; last day expected on or about May 2, 2025
Crockett's resignation was for personal reasons and not due to any disagreement with the company
Patrick Goris, Senior Vice President and CFO since November 2020, becomes interim Controller effective May 2, 2025
A permanent Controller search is underway; the filing gives no timeline for a replacement
At its April 9, 2025 annual meeting, Carrier Global shareowners approved an amendment adding 17,000,000 shares to the 2020 Long-Term Incentive Plan and elected all 10 nominated directors to terms expiring at the 2026 meeting. Shareowners also approved the advisory executive pay proposal and the ratification of PricewaterhouseCoopers LLP as independent auditor for 2025, and did not approve a shareowner proposal for a lobbying transparency report.
Plan amendment approved: 708,612,162 votes for and 20,189,540 against, increasing shares authorized for future issuance by 17,000,000.
All 10 director nominees elected, including Jean-Pierre Garnier, David Gitlin and Amy E. Miles.
Advisory say-on-pay proposal approved: 619,115,896 votes for and 106,886,454 against.
Lobbying transparency report proposal not approved: 104,336,511 votes for and 622,188,788 against.
Carrier reported fourth quarter 2024 sales of $5.1 billion, up 19% including 6% organic growth, and adjusted EPS from continuing operations of $0.54, up 50%. GAAP EPS from continuing operations was a loss of $0.05, driven mainly by a tax charge of approximately $650 million tied to an internal business reorganization. For 2025, Carrier expects adjusted EPS of $2.95 to $3.05 and plans to repurchase about $3 billion in shares.
Q4 2024 sales $5.1 billion, up 19%; organic growth 6%
Q4 GAAP EPS from continuing operations ($0.05); adjusted EPS $0.54
Full-year 2024 adjusted EPS $2.56, up 16%; GAAP EPS $1.22
2025 guidance: sales $22.5 to $23.0 billion; adjusted EPS $2.95 to $3.05
Carrier Global named Amy Miles, former chair and CEO of Regal Entertainment Group, as an independent director effective January 15, 2025, with a term expiring at the 2025 Annual Meeting of Shareowners. She also joins the Board's Audit and Governance Committees, and the filing says she will be compensated under the company's non-employee director programs.
Amy Miles appointed independent director effective January 15, 2025; term runs to the 2025 Annual Meeting of Shareowners
Miles also appointed to the Audit Committee and Governance Committee
Previously served as Chair and CEO of Regal Entertainment Group from 2015 to 2018 and as its CEO from 2009 to 2018
Filing states the appointment was not made under any arrangement with a third party
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
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