Reefer Demand Drop Fails to Cool Carrier Q4 Earnings Growth
Q4 Carrier Transicold Sales Slump 33% on North American Weakness
Carrier Global headquarters in Palm Beach Gardens, Fla. Specifically for Carrier Transicold, 2024 sales fell 9% year over year to $3.475 billion from $3.818 billion in 2023. (Carrier Global)
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Carrier Global overcame weaker demand for refrigeration units from the North American trucking sector to post higher profit and sales in the fourth quarter of 2024, the company said Feb. 11.
The parent of Carrier Transicold also benefited from the demand for heating, ventilation and air conditioning units at data centers, the sale of its commercial refrigeration business and purchase of Viessmann Climate Solutions.
Palm Beach Gardens, Fla.-based Carrier posted a profit of $2.551 billion in Q4, compared with net income of $420 million in the year-ago period, with a large chunk of the increase attributed to the sale of the company’s commercial refrigeration unit, which did not include disposing of Carrier Transicold.
In 2023, Carrier said it planned to sell its fire and security …
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