Core Insights - The Madison Small Cap Fund experienced a challenging third quarter in 2025, with a decline of 1.3%, underperforming its benchmarks due to stock selection and a speculative market environment [1] Company Performance - Carlisle Companies Incorporated (NYSE:CSL) reported a one-month return of -8.64% and a 52-week loss of 34.14%, closing at $309.35 per share with a market capitalization of $12.93 billion on November 21, 2025 [2] - In the third quarter of 2025, Carlisle Companies Incorporated generated $1.3 billion in revenues, reflecting a 1% year-over-year increase [4] Investment Outlook - The Madison Small Cap Fund highlighted that the underperformance in the industrial sector was primarily due to three large investments, including Carlisle Companies Incorporated [3] - Despite near-term risks in commercial roofing and normalizing inventory levels, Carlisle is expected to generate $40 per share in earnings by 2030, indicating strong long-term potential [3]

Group 1 - Carlisle Companies Incorporated (NYSE:CSL) is recognized as one of the 15 Best 52-Week Low Dividend Stocks to Invest in, indicating its potential attractiveness to investors seeking dividend income [1] - Oppenheimer has maintained a Buy rating on Carlisle and set a price target of $400, suggesting confidence in the company's future performance [2] - The company announced a quarterly dividend of $1.10 per share, consistent with previous payments, and has increased its dividend for 49 consecutive years, showcasing strong free cash flow generation and a commitment to returning capital to shareholders [3] Group 2 - Carlisle Companies designs and manufactures energy-efficient and sustainable products for commercial and residential buildings, with long-term growth dependent on investment in product innovation and strategic mergers and acquisitions [4] - The company's performance is influenced by shifts in key construction markets, pricing dynamics, and the integration of recent acquisitions, which are critical for its ongoing success [4]

Core Insights - Carlisle Companies Incorporated (NYSE:CSL) is recognized as one of the 15 overlooked dividend stocks to consider for investment [1] Financial Performance - In Q3 2025, Carlisle reported revenue of $1.35 billion, marking a 1% increase year-over-year and exceeding analysts' expectations by $29.17 million [3] - The company adjusted its full-year 2025 guidance to flat revenue and a 250-basis-point decline in adjusted EBITDA margin, influenced by third-quarter performance and a weaker outlook for nonresidential construction [3] Analyst Ratings - Truist analyst Keith Hughes lowered the price target for Carlisle from $350 to $340 while maintaining a Hold rating, citing cautionary remarks from the company's recent conference presentation [2] Strategic Goals - CEO D. Koch highlighted the company's commitment to its Vision 2030 targets, aiming for $40 in adjusted EPS and a return on invested capital of at least 25%, with expectations of generating over $6 billion in cumulative free cash flow through 2030 [4]

Group 1 - The article emphasizes the importance of in-depth research on various income alternatives including REITs, mREITs, Preferreds, BDCs, MLPs, and ETFs [1] - The author has achieved a personal record in the time taken to write the article, indicating a commitment to thorough analysis [1] Group 2 - Leo Nelissen is identified as an analyst focusing on significant economic developments related to supply chains, infrastructure, and commodities, contributing to actionable investment ideas [2] - The analysis provided by Leo aims to highlight dividend growth opportunities, which are crucial for investors seeking income [2]

Core Insights - Carlisle Companies Incorporated (CSL) is being reviewed for its third-quarter financial results and future expectations [1] Financial Performance - The article suggests a detailed analysis of CSL's financial results for the third quarter [1] - It emphasizes the importance of formulating realistic expectations for the company's future performance based on these results [1] Analyst Background - The author has over six years of experience in investment analysis, with a focus on various sectors including telecom and industry [1] - The author's educational background includes a bachelor's degree in Antwerp, a master's at KU Leuven, and an MBA in Finance from Vlerick [1] - The author is currently building an investment project focused on the CIS region, applying Western analytical tools to uncover value in emerging markets [1]

Group 1 - Carlisle Companies Incorporated (CSL) is being reviewed for its third-quarter financial results and future expectations [1] - The analyst emphasizes the importance of understanding the story behind financial statements and applying analytical tools to uncover hidden value [1] Group 2 - The analyst has a background in equity analysis across various sectors, including telecom and industry, and has academic qualifications in finance [1] - The focus of the investment project is on the CIS region, aiming to apply Western analytical methods to emerging markets [1]

Financial Performance - Revenue for the third quarter of 2025 was $1.3469 billion, a 1% increase year-over-year from $1.3336 billion in 2024[67][70] - Diluted earnings per share (EPS) from continuing operations decreased to $4.97 in Q3 2025, down from $5.30 in Q3 2024[70] - The operating income for Q3 2025 was $293.9 million, compared to $316.4 million in Q3 2024, reflecting a decrease in operating margin from 23.7% to 21.8%[70] - The gross profit for Q3 2025 was $485.2 million, down 5.7% from $514.4 million in Q3 2024, with a gross margin of 36.0%[73] - Net income for Q3 2025 was $214.2 million, a decrease of 12.3% compared to $244.3 million in Q3 2024[97] - Adjusted EBITDA for the third quarter of 2025 was $302.6 million, reflecting a decrease of 7.6% from $327.6 million in the same period last year[83] - Adjusted EBITDA for the nine months ended September 30, 2025, was $976.4 million, down 7.1% from $1,051.0 million in the same period of 2024[97] - Operating income for the nine months ended September 30, 2025, was $798.9 million, compared to $861.0 million in the same period of 2024, reflecting a decrease of 7.2%[98] - Adjusted EBIT for the nine months ended September 30, 2025, was $799.0 million, down from $860.3 million in 2024, indicating a decline of 7.1%[98] Expenses - Research and development expenses increased by 53.1% to $12.4 million in Q3 2025, driven by higher new product development costs[77] - Selling and administrative expenses decreased by 7.2% to $177.9 million in Q3 2025, primarily due to lower wage and benefit expenses[74][75] - The company experienced a decrease in operating margin and adjusted EBITDA margin in Q3 2025 due to materials inflation and higher operating costs[84][87] Cash Flow - Cash provided by operating activities increased to $715.8 million in the first nine months of 2025, up $56.1 million from $659.7 million in 2024[90] - Cash used in investing activities was $199.4 million in the first nine months of 2025, primarily for acquisitions and capital expenditures[94] - Cash used in financing activities totaled $165.4 million in the first nine months of 2025, mainly due to share repurchases of $1,000.0 million and cash dividend payments of $135.3 million[95] Market and Strategic Focus - The company is focused on innovation, with strong market adoption of new products such as RapidLock™, SeamShield™, and UltraTouch, which align with energy efficiency trends[69] - The company anticipates continued challenges from competition and raw material costs, which may impact future performance[99] - The company is focused on strategic acquisitions and dispositions to enhance its market position and operational efficiency[99] - CCM's revenue growth in the first nine months of 2025 was primarily driven by the acquisition of MTL, while CWT's revenue was impacted by lower sales volumes due to market softness[83][86] Shareholder Returns - The company repurchased 0.8 million shares for $300 million during the quarter and raised its dividend by 10%, marking the 49th consecutive annual increase[69] Tax and Interest - The effective tax rate for Q3 2025 was 23.1%, slightly down from 23.3% in Q3 2024, with a provision for income taxes of $64.3 million[81] - The company reported a decrease in interest expense for the first nine months of 2025 to $50.8 million, down from $56.0 million in the same period of 2024[78][79] Revenue Overview - For the first nine months of 2025, revenues totaled $2,894.9 million, an increase of 0.8% compared to $2,870.7 million in 2024[83] - Revenues for the third quarter of 2025 were $1,000.8 million, a slight increase of 0.3% compared to $998.2 million in 2024[83] - Total revenues for Q3 2025 increased to $1,346.9 million, a slight increase of 1.3% from $1,333.6 million in Q3 2024[97] Risk Assessment - There have been no material changes in the company's market risk for the nine months ended September 30, 2025[100]

Core Insights - Carlisle Companies Incorporated (CSL) reported third-quarter 2025 adjusted earnings of $5.61 per share, exceeding the Zacks Consensus Estimate of $5.47, but reflecting a 2.9% year-over-year decline [1][9] - Total revenues reached $1.35 billion, surpassing the consensus estimate of $1.33 billion, and increased by 1% year over year, although organic revenues fell by 2.1% [1][9] - The company’s cash and cash equivalents rose to $1.11 billion from $753.5 million at the end of 2024, while long-term debt increased to $2.9 billion from $1.89 billion [6][9] Segment Performance - Revenues from the Carlisle Construction Materials segment increased by 0.3% year over year to $1.0 billion, with organic revenues remaining flat, driven by strong re-roof activity [3] - The Carlisle Weatherproofing Technologies segment saw a 3% year-over-year revenue increase to $346 million, aided by acquisitions, although organic revenues declined by 8% [4] Margin Analysis - The cost of sales rose by 5.2% year over year to $861.7 million, while selling and administrative expenses decreased by 7.2% to $177.9 million [5] - Adjusted EBITDA for the Construction Materials segment was $303 million, down 8% year over year, and for the Weatherproofing Technologies segment, it was $60 million, declining 13% year over year [3][4] Cash Flow and Shareholder Returns - In the first nine months of 2025, CSL generated net cash of $715.8 million from operating activities, compared to $659.7 million in the same period last year [6] - The company rewarded shareholders with a dividend payment of $135.3 million, up 6.2% year over year, and repurchased shares worth $1 billion, down 14.2% year over year [7] Future Outlook - For the fourth quarter of 2025, Carlisle anticipates a low single-digit revenue decrease in the Construction Materials segment, while the Weatherproofing Technologies segment is expected to see low single-digit growth [8] - The company projects flat revenues for 2025, with an expected adjusted EBITDA margin contraction of approximately 250 basis points [10]

Core Insights - Carlisle Companies Incorporated (NYSE:CSL) is recognized as one of the 13 most undervalued dividend stocks according to Wall Street analysts [1] - Vertical Research initiated coverage of Carlisle with a Hold rating and a price target of $356 [2] Financial Performance - The company reported strong earnings, generating $620 million in free cash flow during the first nine months of the year, and expects to achieve approximately $1 billion in operating cash flow for the full year [3] - Carlisle's management reaffirmed its Vision 2030 goals, targeting $40 in adjusted EPS and maintaining a return on invested capital (ROIC) of 25% or higher, which is projected to yield over $6 billion in cumulative free cash flow through 2030 [3] Dividend Information - Carlisle has increased its dividends for 49 consecutive years, currently paying a quarterly dividend of $1.10 per share, resulting in a dividend yield of 1.82% as of October 29 [4]

Core Insights - Carlisle (CSL) reported $1.35 billion in revenue for the quarter ended September 2025, reflecting a year-over-year increase of 1% and surpassing the Zacks Consensus Estimate by 1.01% [1] - The earnings per share (EPS) for the same period was $5.61, down from $5.78 a year ago, but exceeded the consensus EPS estimate of $5.47 by 2.56% [1] Revenue Performance - Carlisle Weatherproofing Technologies (CWT) generated $346.1 million in revenue, exceeding the average estimate of $340.35 million by four analysts, representing a year-over-year increase of 3.2% [4] - Carlisle Construction Materials (CCM) reported $1 billion in revenue, slightly above the average estimate of $992.89 million, with a year-over-year change of 0.3% [4] Adjusted EBIT Analysis - Adjusted EBIT for Carlisle Construction Materials (CCM) was $280 million, below the three-analyst average estimate of $285.65 million [4] - Adjusted EBIT for Corporate and unallocated was reported at -$15 million, better than the average estimate of -$28.54 million [4] - Adjusted EBIT for Carlisle Weatherproofing Technologies (CWT) was $33.9 million, falling short of the three-analyst average estimate of $40.7 million [4] Stock Performance - Shares of Carlisle have returned +3.5% over the past month, compared to a +3.8% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 5 (Strong Sell), indicating potential underperformance relative to the broader market in the near term [3]