Carrier Global Eyes Separation Of Fire Unit On Demand Issues: Report

Carrier Global Corp CARR reportedly plans to sell or spin off its Fire & Security business segment, which accounts for about 17% of its sales.
The process is in an early stage with no guarantee that the company will follow through, the WSJ reported.
The Fire & Security business accounted for $3.57 billion (previous year: $5.51 billion) of Carrier Global's total sales of $20.4 billion in 2022.
In the recent quarter, the company faced mixed demand for its Fire & Security products with slower new construction in some markets, causing a drag on its overall valuation. The company has been getting calls from some investors and analysts to consider separating the division, the report noted.
Carrier Global's Fire & Security business segment has products mainly used across residential, commercial, and industrial properties.
The company is slated to release its first quarter 2023 earnings on Thursday, April 27.
Price Action: CARR shares are trading higher by 0.64% at $43.80 in premarket on the last check Wednesday.