We recently published Massive Drop Alert: These 10 Stocks Take a Beating. Carrier Global Corporation is one of the worst-performing stocks on Tuesday.
Carrier Global declined by 10.61 percent on Tuesday to close at $71.67 apiece as investors soured on the company’s dismal earnings performance in the second quarter of the year.
During the period, Carrier Global Corporation said net income attributable to shareholders fell by 75 percent to $591 million from $2.337 billion in the same period last year, while total net sales inched up by 3 percent to $6.113 billion from $5.934 billion in the same period last year.
Copyright: alexmit / 123RF Stock Photo
In the first six months of the year, net income attributable to shareholders declined by 61 percent to $1 billion from $2.6 billion year-on-year. Total net sales ended flat at $11.3 billion.
Despite the figures, Carrier Global Corporation maintained its full-year guidance of around $23 billion in sales, adjusted operating margin of 16.5-17 percent, as well as adjusted earnings per share of $3 to $3.10, or a year-on-year growth of 17-21 percent.
