David Gitlin, CEO of Carrier Global Corp. Photographer: Jason Alden/Bloomberg.
Carrier Global Corp. said its tariff exposure has been alleviated through price increases, allowing it to boost its full-year profit outlook and sending its shares higher in today’s premarket trading.
The HVAC company is fully mitigating the impact of tariffs that are in effect today, it said in a statement this morning. “We view the exposure as the $300 million that we need to go offset with price, and frankly, we’ve already implemented those price increases in our channel,” CEO Dave Gitlin said on a call with investors.
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The Palm Beach Gardens, Florida–based company also highlighted that all its imports from Mexico are compliant with the USMCA (U.S.-Mexico-Canada) trade agreement in North America. “We’re now just under 100 percent USMCA-compliant,” Gitlin said.
The company raised its adjusted earnings per share (EPS) outlook for the year to $3.00–$3.10 from $2.95–$3.05 previously. Its sales outlook for the year also increased. The stock, which has lost 8.4 percent so far this year, was about 5 percent higher in premarket trading.
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