This ESG Stock Is Down 30%: Should You Buy the Dip?
Carrier Global (NYSE: CARR) is not your typical ESG (environmental, social, and governance) company, but it certainly is one. And its recently reported second-quarter earnings showed advancement in its most ESG-friendly business.
Last week, Carrier announced its results for the second quarter. Revenue was down by 4%, but part of that was due to the divestiture of its Chubb subsidiary last year. After factoring out revenues from that unit, organic revenue grew by 7%. Earnings per share were up 8% from last year to $0.69. In addition, the company raised its full-year adjusted earnings per share guidance from a range of $2.20 to $2.30 to a range of $2.25 to $2.35.
Carrier is best known for its residential and commercial air conditioners, but the company is much more than that. For instance, its refrigeration business supplies equipment to operators of the cold supply chain that deliver food, pharmaceuticals, and other temperature-sensitive products.
Source Fool.com
