Carrier’s Board Approves $1.75 Billion Share Repurchase Authorization

PALM Beach front GARDENS, Fla., July 29, 2021 /PRNewswire/ — On July 27, 2021, Carrier Global Corporation‘s (NYSE:CARR) Board of Administrators accepted a $1.75 billion inventory repurchase authorization.  Share repurchases may well acquire put from time to time, subject to between other points, industry problems, share rate, compliance with securities laws and regulatory prerequisites and other factors, and at the firm’s discretion in the open up sector or by way of a single or a lot more other community or non-public transactions.  With the remaining part of the prior authorization, Provider now has authorization to repurchase about $2 billion.  This authorization is a important ingredient of the firm’s capital allocation strategies, which will also incorporate acquisitions and financial debt paydown above 12-18 months to enable posture the business for strategic progress and to generate beautiful shareowner returns.  The business benefit from the Chubb sale amounts to $3.1 billion, and as of June 30, 2021, Provider experienced $2.6 billion of money.  Provider will deliver more detail all through its earnings simply call scheduled for July 29, 2021.

About Provider 
As the primary global provider of wholesome, risk-free, sustainable and intelligent constructing and chilly chain options, Provider World wide Corporation is committed to producing the environment safer, sustainable and additional comfy for generations to arrive. From the beginning, we have led in inventing new systems and fully new industries. Nowadays, we continue on to lead because we have a entire world-class, assorted workforce that puts the customer at the middle of almost everything we do. For far more information and facts, visit www.company.provider.com or follow Carrier on social media at @Carrier.

Cautionary Statement
This conversation is made up of statements which, to the extent they are not statements of historical or current fact, constitute “forward-on the lookout statements” underneath the securities legal guidelines.  From time to time, oral or composed ahead-wanting statements might also be integrated in other details unveiled to the public.  These forward-wanting statements are intended to provide management’s recent expectations or ideas for our long run running and monetary overall performance, primarily based on assumptions currently believed to be valid.  Forward-wanting statements can be recognized by the use of words this kind of as “think,” “expect,” “anticipations,” “designs,” “technique,” “potential clients,” “estimate,” “venture,” “focus on,” “foresee,” “will,” “should,” “see,” “advice,” “outlook,” “self-confident,” “scenario” and other words of related that means in connection with a discussion of upcoming functioning or financial effectiveness or the separation and distribution from United Technologies Company (the “Separation” and the “Distribution”), considering the fact that renamed Raytheon Technologies Company.  Ahead-searching statements may perhaps contain, amid other points, statements relating to future revenue, earnings, income circulation, benefits of functions, uses of income, share repurchases, tax charges and other actions of economical overall performance or opportunity upcoming programs, procedures or transactions of Provider, the approximated costs involved with the Separation, Carrier’s ideas with respect to our indebtedness and other statements that are not historic information. All ahead-searching statements contain challenges, uncertainties and other components that could bring about actual benefits to vary materially from those expressed or implied in the forward-seeking statements. For those people statements, we assert the protection of the harmless harbor for forward-on the lookout statements contained in the U.S. Non-public Securities Litigation Reform Act of 1995. This kind of risks, uncertainties and other things involve, without the need of limitation: (1) the outcome of economic conditions in the industries and markets in which Provider and our corporations work in the U.S. and globally and any modifications therein, which includes money marketplace circumstances, fluctuations in commodity prices, interest fees and foreign currency exchange rates, degrees of end industry desire in building, the affect of temperature problems, pandemic overall health troubles (including COVID-19 and its outcomes, between other issues, on creation and on world wide supply, demand from customers and distribution as the outbreak proceeds and effects in a prolonged period of time of journey, business and other limitations and limitations), organic disasters and the monetary problem of our clients and suppliers (2) challenges in the improvement, creation, delivery, help, general performance and realization of the predicted advantages of advanced systems and new goods and providers (3) upcoming ranges of indebtedness, cash spending and investigation and progress investing (4) long run availability of credit rating and things that may possibly have an affect on these availability, which include credit market place conditions and Carrier’s cash structure and credit history ratings (5) the timing and scope of upcoming repurchases of Carrier’s typical inventory, including industry conditions and the stage of other investing actions and works by using of hard cash (6) delays and disruption in the shipping of elements and expert services from suppliers (7) price tag reduction efforts and restructuring costs and discounts and other outcomes thereof (8) new business and financial investment possibilities (9) risks ensuing from remaining a smaller, much less diversified firm than prior to the Separation (10) the end result of lawful proceedings, investigations and other contingencies (11) the effect of pension program assumptions on foreseeable future cash contributions and earnings (12) the effect of the negotiation of collective bargaining agreements and labor disputes (13) the result of adjustments in political problems in the U.S. (which include in link with the Biden administration in Washington, D.C.) and other countries in which Carrier and our enterprises work, such as the impact of adjustments in U.S. trade guidelines or the United Kingdom’s withdrawal from the European Union, on standard market situations, world-wide trade policies and currency exchange costs in the around term and beyond (14) the impact of improvements (such as potentially as a result of the Biden administration in Washington, D.C.) in tax, environmental, regulatory (including among other matters import/export) and other guidelines and laws in the U.S. and other countries in which we and our organizations work (15) the ability of Carrier to keep and seek the services of vital personnel (16) the scope, character, influence or timing of acquisition and divestiture exercise, which include between other matters integration of obtained firms into current companies and realization of synergies and possibilities for advancement and innovation and incurrence of associated fees (17) the expected positive aspects of the Separation (18) a dedication by the U.S. Inner Revenue Services and other tax authorities that the Distribution or selected connected transactions really should be treated as taxable transactions (19) dangers involved with indebtedness, including that incurred as a result of funding transactions carried out in link with the Separation, as perfectly as our skill to minimize indebtedness and the timing thereof (20) the risk that dis-synergy fees, expenses of restructuring transactions and other prices incurred in relationship with the Separation will exceed Carrier’s estimates and (21) the effects of the Separation on Carrier’s organization and Carrier’s assets, programs, methods and controls, diversion of management’s consideration and the influence on associations with consumers, suppliers, staff members and other organization counterparties.

The over record of variables is not exhaustive or necessarily in get of worth. For extra information and facts on determining variables that might result in true success to vary materially from people mentioned in ahead-looking statements, see Carrier’s stories on Types 10-K, 10-Q and 8-K filed with or furnished to the SEC from time to time. Any forward-on the lookout assertion speaks only as of the date on which it is built, and Provider assumes no obligation to update or revise this kind of assertion, no matter if as a consequence of new details, long term functions or usually, except as required by relevant law.


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