Carrier Global shares fell 4.5% in morning trading after the company reported second-quarter results that beat Wall Street estimates but showed a decline in profitability. The heating, ventilation, air conditioning, and refrigeration company posted revenue growth of 3.9% year-over-year and raised its full-year sales and profit forecasts, yet adjusted earnings per share dropped to $0.86 from $0.92 a year earlier and operating margin contracted by 1.8 percentage points to 13%. The stock was trading at $66.19, down 4.5% from the previous close.
Carrier Global CorpAdjusted EPS and operating margin declined year-over-year despite revenue beat and raised guidance.