Why Shares in Carrier Global Surged in November

Shares in heating, ventilation and air condition (HVAC) company Carrier Global (NYSE: CARR) rose 14% in November according to data provided by S&P Global Market Intelligence. The move builds upon an excellent set of third-quarter results released at the end of October, plus positive sentiment around a COVID-19 vaccine.

The earnings report saw management raise its full-year sales, profit, and free cash flow guidance for the second time this year. As you can see below, the industrial company has recovered well from the shock of the coronavirus pandemic. Indeed, the stay-at-home measures encouraged households to purchase air conditioning units, so North American HVAC sales were up 46% in the third-quarter -- overall HVAC sales increased 11%.

Carrier Full-Year 2020 Guidance

Source Fool.com