Carrier Global Corporation (CARR) Q1 2023 Earnings Call Transcript

Carrier Global Corporation (NYSE:CARR) Q1 2023 Earnings Conference Call April 27, 2023 7:30 AM ET

Company Participants

Sam Pearlstein - Vice President of Investor Relations

David Gitlin - Chairman & Chief Executive Officer

Patrick Goris - Chief Financial Officer

Conference Call Participants

Julian Mitchell - Barclays

Nigel Coe - Wolfe Research

Jeffrey Sprague - Vertical Research

Joe Ritchie - Goldman Sachs

Tommy Moll - Stephens

Noah Kaye - Oppenheimer

Deane Dray - RBC

Josh Pokrzywinski - Morgan Stanley

Brett Linzey - Mizuho Group

Andrew Obin - Bank of America

Nicole DeBlase - Deutsche Bank

Steve Tusa - JPMorgan

Operator

Good morning and welcome to Carrier's First Quarter 2023 Earnings and Strategic Update Conference Call.

I would like to introduce your host for today's conference, Sam Pearlstein, Vice President of Investor Relations. Please, go ahead, sir.

Sam Pearlstein

Thank you and good morning and welcome to Carrier's conference call to discuss the transactions we announced last night along with first quarter 2023 earnings. With me here today are David Gitlin, Chairman and Chief Executive Officer; and Patrick Goris, Chief Financial Officer.

We will be discussing certain non-GAAP measures on this call which management believes are relevant in assessing the financial performance of the business. These non-GAAP measures are reconciled to GAAP figures in our earnings presentation, which is available to download from Carrier's website at ir.carrier.com. There are two presentations available there, one for the strategic actions, and one for the first quarter 2023 results.

The company reminds listeners that the sales earnings and cash flow expectations and any other forward-looking statements provided during the call are subject to risks and uncertainties. Carrier's SEC filings including Forms 10-K, 10-Q and 8-K provide details on important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements. Once the call is open for questions, we ask that you limit yourself to one question and follow-up to give everyone the opportunity to participate.

With that, I'd like to turn the call over to our Chairman and CEO, Dave Gitlin.

David Gitlin

Well, thank you, Sam, and good morning, everyone. A big day for us and we appreciate your flexibility joining us this morning on short notice. Today we are announcing a new Carrier, a new direction and an exciting transformation, a game-changing opportunity to acquire Europe's premier company in the most attractive market in our space, allowing us to capitalize on the energy transition in Europe.