Carrier Global Corporation, the leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions, today reported strong financial results for the fourth quarter capping a full year 2021 that exceeded expectations. The Company projects solid organic growth and adjusted operating margin expansion in 2022 and is well-positioned with a strong balance sheet with significant capital to deploy towards continued value creation.
"Our fourth quarter results, including double-digit sales and adjusted net income growth, as well as adjusted operating margin expansion, served as a great conclusion to a year marked by strong execution and innovation. I am very pleased with the strategic progress we made in 2021, including the launches of our global digital platforms for buildings and cold chain solutions, Abound and Lynx," said Carrier Chairman & CEO Dave Gitlin. "We will work to build on our strong momentum as we enter 2022 with record backlog levels. We are pleased with the divestiture of Chubb and the pending acquisition of Toshiba Carrier Corporation and we will work to proactively improve our portfolio. We anticipate another year of strong financial results, execution and innovation as we continue to address some of the world's most important challenges."
Fourth Quarter 2021 Results
Carrier's fourth quarter sales of $5.1 billion were up 12% compared to the prior year and organic sales were up 11% over the same period, reflecting continued order momentum. Sales remained strong in the HVAC segment with residential and light commercial performance driving the 14% organic growth. Organic sales growth of 17% for the Refrigeration segment was due to strong Transport refrigeration growth. Fire and Security sales were up 3% organically resulting from continued growth in commercial and industrial fire but were negatively impacted by supply chain constraints.
Full-Year 2021 Results
Carrier's 2021 sales of $20.6 billion increased 18% compared to the prior year and 15% organically, reflecting strong demand across the businesses – primarily HVAC and Transport Refrigeration – and the results of execution on strategic initiatives.
