Carrier cuts annual revenue forecast (Oct. 24)
Corrects first paragraph to say Carrier cut its revenue forecast to reflect disposal of fire and security business, not due to weak consumer spending; removes reference to shares; drops reference to the company in the third paragraph; corrects previous forecast in fourth paragraph to "around $25.5 bln" from "around $26 bln"
Oct 24 (Reuters) -Carrier Global CARR.N cut its annual revenue forecast on Thursday to account for the sale of its fire and security business.
Households are deciding against spending on energy-efficient upgrades as persistent inflation eats into savings.
A slow housing market due to high mortgage rates and a surge in home prices have also impacted demand for heating and ventilation products in North America.
The company expects 2024 revenue to be $22.5 billion compared with its previous forecast of around $25.5 billion.
The company said it expects adjusted earnings per share to be about $2.50, lower than the midpoint of its prior expectation of between $2.80 and $2.90.
It reported a third-quarter net income of $447 million, or 49 cents per share, compared with $357 million, or 42 cents per share a year ago.
Reporting by Kannaki Deka and Nathan Gomes in Bengaluru; Editing by Vijay Kishore
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