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Carrier gains on FY26 sales forecast raise, higher orders and backlog

By Reuters News

** Shares of HVAC maker Carrier Global CARR.N rise more than 4% to $58.71 premarket after Q3 results

** Company raises FY26 sales forecast to $23.8 bln-$24.0 bln from ~$23 bln; adjusted EPS view of $2.85-$2.90 vs prior ~$2.90

** Q3 adjusted EPS of $0.87 beats analysts' avg. est. of $0.77; adjusted EPS includes ~$0.10 benefit from IEEPA tariff refunds

** Q3 revenue of $6.26 bln beats est. $6.08 bln

** Q3 total orders up ~35%; data center orders have jumped fourfold

** Record backlog above $8.5 bln, up 60% YoY

** Company signs multibillion-dollar long-term agreements with minimum volume commitments

** Adjusted operating profit up 33%; margin up 260 bps to 17.4%

** Q3 free cash flow of $674 mln vs $224 mln a year ago

** As of last close, shares up 6% YTD

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