It was a record-setting year for many large HVAC manufacturers. A combination of continued consumer spending and increased interest in IAQ drove sales throughout the year. Higher costs driven by supply chain issues ate into the profits for most companies, however.
Carrier Corp. executives reported that the company’s first full year as an independent company “exceeded expectations.” United Technologies spun off Carrier in the spring of 2020. Carrier reported fourth-quarter sales of $5.1 billion, up 12% from the same period in 2020. For the year, sales increased by 18% to $20.6 billion.