PALM BEACH GARDENS, Fla. (AP) — PALM BEACH GARDENS, Fla. (AP) — Carrier Global Corporation (CARR) on Tuesday reported fourth-quarter net income of $2.55 billion.
The Palm Beach Gardens, Florida-based company said it had profit of $2.82 per share. Earnings, adjusted to account for discontinued operations, came to 54 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share.
The company posted revenue of $5.15 billion in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $5.33 billion.
For the year, the company reported profit of $5.6 billion, or $6.15 per share. Revenue was reported as $22.49 billion.
Carrier Global expects full-year earnings in the range of $2.95 to $3.05 per share, with revenue in the range of $22.5 billion to $23 billion.
Carrier Global shares have dropped 3% since the beginning of the year. The stock has risen 20% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CARR at https://www.zacks.com/ap/CARR
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