Carrier Global Corporation · NYSE:CARR
Carrier Global — Wolfe Research Global Transportation & Industrials Conference 2021
10 slides from Carrier Global's conference presentation, May 25, 2021
Slide 1: Wolfe Research Transportation & Industrials Conference
WOLFE RESEARCH TRANSPORTATION & INDUSTRIALS CONFERENCE May 25, 2021
Slide 2: Forward-Looking Statements
Forward-Looking Statements This communication contains statements w hich, to the extent they are not statements of historical or present fact, constitute “forw ard-looking statements” under the securities law s. From time to time, oral or w ritten forw ard- looking statements may also be included in
Slide 3: GAAP Reconciliations
GAAP RECONCILIATIONS 2
Slide 4: Use and definitions of non-GAAP financial measures
Use and definitions of non-GAAP financial measures Carrier Global Corporation (“Carrier”) reports its financial results in accordance with accounting principles generally accepted in the United States ("GAAP"). We supplement the reporting of our financial information determined under GAAP with certa
Slide 5: Carrier Q1 2021 vs 2020 Sales Reconciliation
Carrier Q1 2021 vs 2020 Sales Reconciliation Y/Y % Three Months Ended March 31, 2021 Compared with Three Months Ended March 31, 2020 (Unaudited) Factors Contributing to Total % change in Net Sales FX Acquisitions / Organic Translation Divestitures, net Other Total HVAC 25 % 2 % — % — % 27 % Refriger
Slide 6: Segment Adjusted Operating Profit Reconciliation
Segment Adjusted Operating Profit Reconciliation (Unaudited) For the Three Months Ended March 31, (dollars in millions - Income (Expense)) 2021 2020 HVAC Net sales $ 2,486 $ 1,959 Operating profit $ 365 $ 167 Restructuring (4) (2) (Unaudited) Impairment of joint venture investment — (71) For the Thr
Slide 7: Q1 2021 EPS Reconciliation
Q1 2021 EPS Reconciliation (Unaudited) For the Three Months Ended March 31, 2021 (In millions) Reported Adjustments Adjusted Net sales $ 4,699 $ — $ 4,699 Operating profit 571 37 a 608 Operating margin 12.2 % 12.9 % Income from operations before income taxes 496 56 a,b 552 Income tax expense (104) (
Slide 8: Q1 2020 EPS Reconciliation
Q1 2020 EPS Reconciliation (Unaudited) For the Three Months Ended March 31, 2020 (In millions) Reported Adjustments Adjusted Net sales $ 3,888 $ — $ 3,888 Operating profit 315 121 a 436 Operating margin 8.1 % 11.2 % Income from operations before income taxes 295 126 a,b 421 Income tax expense (193)
Slide 9: Segment Net Sales and Operating Profit
Segment Net Sales and Operating Profit (Unaudited) For the Three Months Ended March 31, 2021 2020 (In millions) Reported Adjusted Reported Adjusted Net sales HVAC $ 2,486 $ 2,486 $ 1,959 $ 1,959 Refrigeration 1,005 1,005 808 808 Fire & Security 1,304 1,304 1,206 1,206 Segment sales 4,795 4,795 3,973
Slide 10: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation Free Cash Flow Reconciliation (Unaudited) Q1 Q2 Q3 Q4 FY Q1 (dollars in millions) 2020 2020 2020 2020 2020 2021 Net cash flows provided by operating activities $ 47 $ 509 $ 937 199 $ 1,692 $ 184 Less: Capital expenditures 48 46 57 161 312 53 Free cash flow $ (1) $ 463 $
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