[Company Overview & Highlights](index=1&type=section&id=Company%20Overview%20%26%20Highlights) Carlisle demonstrated strong Q1 performance, strategic transformation to a pure-play building products company, and commitment to sustainability [First Quarter 2024 Highlights](index=1&type=section&id=First%20Quarter%202024%20Highlights) Carlisle Companies achieved strong Q1 2024 growth in EPS, revenue, and margins, strategically transforming into a pure-play building products company Q1 2024 Financial Performance | Metric | Q1 2024 | Q1 2023 | YoY Change | | :----- | :------ | :------ | :--------- | | Diluted EPS | $3.52 | $1.61 | 118.6% | | Adj. EPS | $3.72 | $2.01 | 85.1% | | Revenue | $1.1 billion | $892.6 million | 22.8% | | Operating Margin | 20.5% | 13.5% | +700 bps | | Adj. EBITDA Margin | 24.2% | 18.9% | +530 bps | - Final agreements were signed for the sale of CIT and acquisition of MTL, reinforcing the pure-play building products strategy[14](index=14&type=chunk)[15](index=15&type=chunk) [CEO Commentary & Strategic Vision](index=1&type=section&id=CEO%20Commentary%20%26%20Strategic%20Vision) CEO Chris Koch highlighted Q1 performance driven by macro trends, aligning with Vision 2030 and completing the pure-play building products transformation - First-quarter results demonstrate the company's ability to capitalize on macro trends like energy efficiency, labor savings, and growing re-roofing demand[1](index=1&type=chunk)[4](index=4&type=chunk) - The company completed its transformation into a pure-play building products company by selling CIT for approximately **$2 billion** and acquiring MTL, a specialized manufacturer of high-performance metal edge and wall systems[15](index=15&type=chunk) [About Carlisle Companies Incorporated](index=4&type=section&id=About%20Carlisle%20Companies%20Incorporated) Carlisle is a leading provider of innovative building envelope solutions, committed to energy efficiency, superior shareholder returns, and net-zero emissions by 2050 - A leading provider of innovative building envelope products and solutions, aiming to enhance building energy efficiency[21](index=21&type=chunk) - Committed to generating superior shareholder returns through balanced capital deployment and pledging to achieve net-zero greenhouse gas emissions by 2050[21](index=21&type=chunk) [Financial Performance](index=2&type=section&id=Financial%20Performance) Carlisle's first-quarter financial performance shows significant revenue and net income growth, improved cash flows, and a healthy balance sheet [Consolidated Financial Summary](index=2&type=section&id=Consolidated%20Financial%20Summary) Carlisle achieved significant Q1 2024 revenue and net income growth, with improved cash flows and a healthy balance sheet [Consolidated Statements of Income](index=5&type=section&id=Consolidated%20Statements%20of%20Income) The consolidated statements of income reflect strong revenue and profit growth for Carlisle in the first quarter of 2024 Consolidated Statements of Income | Metric | Q1 2024 (in millions) | Q1 2023 (in millions) | | :-------------------------------- | :-------------------- | :-------------------- | | Revenues | $1,096.5 | $892.6 | | Operating Income | $225.2 | $120.7 | | Income from Continuing Operations | $170.9 | $83.6 | | Net Income | $192.3 | $101.7 | | Diluted EPS (Continuing Operations) | $3.52 | $1.61 | [Consolidated Statements of Cash Flows](index=2&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) The consolidated statements of cash flows highlight increased operating and free cash flow from continuing operations in Q1 2024 Consolidated Statements of Cash Flows | Metric | Q1 2024 (in millions) | Q1 2023 (in millions) | | :-------------------------------- | :-------------------- | :-------------------- | | Net cash provided by operating activities | $163.5 | $149.6 | | Capital expenditures | $(32.5) | $(40.2) | | Net cash used in investing activities | $(32.0) | $(31.7) | | Net cash used in financing activities | $(166.1) | $(94.8) | | Repurchases of common stock | $(150.0) | $(50.0) | | Dividends paid | $(41.5) | $(38.9) | - Operating cash flow from continuing operations increased by **$33 million** to **$156 million** year-over-year, while free cash flow from continuing operations grew by **$42 million** to **$132 million** year-over-year[5](index=5&type=chunk) [Selected Consolidated Balance Sheet Data](index=6&type=section&id=Selected%20Consolidated%20Balance%20Sheet%20Data) Selected consolidated balance sheet data indicates a stable financial position with consistent cash and debt levels Selected Consolidated Balance Sheet Data | Metric | March 31, 2024 (in millions) | December 31, 2023 (in millions) | | :-------------------------------- | :----------------------------- | :------------------------------ | | Cash and cash equivalents | $552.6 | $576.7 | | Long-term debt, including current portion | $2,289.7 | $2,289.4 | | Total stockholders' equity | $2,859.3 | $2,829.0 | [Segment Performance](index=2&type=section&id=Segment%20Performance) Carlisle's CCM segment achieved strong Q1 revenue growth and margin expansion, while CWT improved EBITDA margin despite a slight revenue decrease [Carlisle Construction Materials (CCM)](index=2&type=section&id=Carlisle%20Construction%20Materials%20(CCM)) Carlisle Construction Materials (CCM) demonstrated robust revenue growth and significant EBITDA margin expansion in the first quarter Carlisle Construction Materials (CCM) Performance | Metric | Q1 2024 (in millions) | Q1 2023 (in millions) | YoY Change | | :-------------------- | :-------------------- | :-------------------- | :--------- | | Revenue | $784 | $576 | +36.0% | | Organic Revenue Growth | +35.9% | N/A | N/A | | Operating Income | $211 | $122.4 | +72.4% | | Adjusted EBITDA | $227 | $136.8 | +65.9% | | Adjusted EBITDA Margin | 28.9% | 23.8% | +510 bps | [Carlisle Weatherproofing Technologies (CWT)](index=2&type=section&id=Carlisle%20Weatherproofing%20Technologies%20(CWT)) Carlisle Weatherproofing Technologies (CWT) achieved notable EBITDA margin improvement despite a slight revenue decrease in the first quarter Carlisle Weatherproofing Technologies (CWT) Performance | Metric | Q1 2024 (in millions) | Q1 2023 (in millions) | YoY Change | | :-------------------- | :-------------------- | :-------------------- | :--------- | | Revenue | $313 | $316.6 | -1.2% | | Organic Revenue Growth | -2.5% | N/A | N/A | | Operating Income | $42 | $24.1 | +74.3% | | Adjusted EBITDA | $65 | $53.9 | +20.6% | | Adjusted EBITDA Margin | 20.7% | 17.0% | +370 bps | [Financial Outlook & Capital Allocation](index=1&type=section&id=Financial%20Outlook%20%26%20Capital%20Allocation) Carlisle updated its full-year 2024 outlook with increased revenue and margin expectations, maintaining a strong commitment to shareholder returns [2024 Full Year Outlook](index=1&type=section&id=2024%20Full%20Year%20Outlook) Carlisle raised its full-year 2024 outlook, projecting approximately **10%** revenue growth and at least **100 basis points** Adjusted EBITDA margin expansion - Full-year 2024 revenue is projected to grow by approximately **10%**[1](index=1&type=chunk)[14](index=14&type=chunk)[30](index=30&type=chunk) - Adjusted EBITDA margin is expected to expand by over **100 basis points**[1](index=1&type=chunk)[14](index=14&type=chunk)[30](index=30&type=chunk) - Segment revenue outlook includes **low double-digit growth** for CCM and **mid-single-digit growth** for CWT[30](index=30&type=chunk) [Capital Allocation & Shareholder Returns](index=1&type=section&id=Capital%20Allocation%20%26%20Shareholder%20Returns) Carlisle remains committed to shareholder returns, deploying **$150 million** for Q1 2024 share repurchases as part of its **$1.4 billion** full-year program - **$150 million** was deployed for share repurchases in Q1 2024, part of the **$1.4 billion** 2024 share repurchase program[19](index=19&type=chunk)[27](index=27&type=chunk) - **$42 million** in cash dividends were paid in Q1 2024[19](index=19&type=chunk) [Non-GAAP Financial Measures](index=4&type=section&id=Non-GAAP%20Financial%20Measures) Carlisle utilizes non-GAAP financial measures to provide a clearer view of core operating performance and liquidity, offering reconciliations to GAAP where feasible [Non-GAAP Disclosure Policy](index=4&type=section&id=Non-GAAP%20Disclosure%20Policy) Carlisle uses non-GAAP metrics for clearer core performance and liquidity insights, providing GAAP reconciliations for historical data but not for forward-looking measures - Non-GAAP metrics are used to exclude variable items that may obscure core operating performance and enhance analysis of Carlisle's business trends and liquidity[10](index=10&type=chunk) - Reconciliations to GAAP are provided, but forward-looking non-GAAP measures are not reconciled due to the inability to reasonably determine the ultimate outcome of adjusting items[10](index=10&type=chunk) [Free Cash Flow Reconciliation](index=7&type=section&id=Free%20Cash%20Flow%20Reconciliation) Free cash flow from continuing operations significantly increased in Q1 2024, primarily driven by improved operating cash flow and reduced capital expenditures from continuing operations Free Cash Flow Reconciliation | Metric | Q1 2024 (in millions) | Q1 2023 (in millions) | | :-------------------------------- | :-------------------- | :-------------------- | | Operating cash flow from continuing operations | $156.0 | $123.1 | | Capital expenditures from continuing operations | $(24.0) | $(33.4) | | Free cash flow from continuing operations | $132.0 | $89.7 | - Free cash flow from continuing operations increased by **$42 million** year-over-year[5](index=5&type=chunk) [Organic Revenue Reconciliation](index=7&type=section&id=Organic%20Revenue%20Reconciliation) Organic revenue growth was a significant driver of total revenue growth in Q1 2024, particularly within the CCM segment, while the CWT segment experienced an organic revenue decline Organic Revenue Reconciliation | Metric | Q1 2024 Total (in millions) | Q1 2024 CCM (in millions) | Q1 2024 CWT (in millions) | | :-------------------- | :-------------------------- | :------------------------ | :------------------------ | | 2023 Revenues (GAAP) | $892.6 | $576.0 | $316.6 | | Organic Change | $199.2 (22.3%) | $207.1 (35.9%) | $(7.9) (-2.5%) | | Acquisitions | $4.0 (0.4%) | — | $4.0 (1.2%) | | FX Impact | $0.7 (0.1%) | $0.5 (0.1%) | $0.2 (0.1%) | | Total Change | $203.9 (22.8%) | $207.6 (36.0%) | $(3.7) (-1.2%) | | 2024 Revenues (GAAP) | $1,096.5 | $783.6 | $312.9 | [EBIT, Adjusted EBIT, Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation](index=8&type=section&id=EBIT%2C%20Adjusted%20EBIT%2C%20Adjusted%20EBITDA%20and%20Adjusted%20EBITDA%20Margin%20Reconciliation) Carlisle achieved strong Adjusted EBITDA growth and margin expansion in Q1 2024, primarily due to significant contributions from both CCM and CWT segments after adjusting for non-comparable items EBIT, Adjusted EBIT, Adjusted EBITDA and Adjusted EBITDA Margin Reconciliation | Metric | Q1 2024 (in millions) | Q1 2023 (in millions) | | :-------------------------------- | :-------------------- | :-------------------- | | Net income (GAAP) | $192.3 | $101.7 | | Income from continuing operations (GAAP) | $170.9 | $83.6 | | EBIT | $225.5 | $121.7 | | Adjusted EBIT | $226.6 | $130.2 | | Adjusted EBITDA | $265.5 | $168.6 | | Total revenues | $1,096.5 | $892.6 | | Adjusted EBITDA margin | 24.2% | 18.9% | Segment Adjusted EBITDA and Margin | Segment | Q1 2024 Adj. EBITDA (in millions) | Q1 2024 Adj. EBITDA Margin | Q1 2023 Adj. EBITDA (in millions) | Q1 2023 Adj. EBITDA Margin | | :------ | :-------------------------------- | :------------------------- | :-------------------------------- | :------------------------- | | CCM | $226.8 | 28.9% | $136.8 | 23.8% | | CWT | $64.7 | 20.7% | $53.9 | 17.0% | [Adjusted Net Income and Adjusted Diluted EPS Reconciliation](index=10&type=section&id=Adjusted%20Net%20Income%20and%20Adjusted%20Diluted%20EPS%20Reconciliation) Adjusted net income and adjusted diluted EPS both achieved significant year-over-year growth in Q1 2024, reflecting the company's core operating performance after specific adjustments Adjusted Net Income and Adjusted Diluted EPS Reconciliation | Metric | Q1 2024 (in millions, except EPS) | Q1 2023 (in millions, except EPS) | | :-------------------------------- | :-------------------------------- | :-------------------------------- | | Net income (GAAP) | $192.3 | $101.7 | | Income from continuing operations (GAAP) | $170.9 | $83.6 | | Adjusted net income | $180.5 | $104.2 | | Diluted EPS (Continuing Operations) | $3.52 | $1.61 | | Adjusted diluted EPS | $3.72 | $2.01 | - Key adjustment items include acquisition-related amortization, exit and disposal costs, and discrete tax items[42](index=42&type=chunk)[56](index=56&type=chunk) [Additional Information](index=3&type=section&id=Additional%20Information) This section provides details on the Q1 earnings call, forward-looking statements, and investor contact information [Conference Call and Webcast Details](index=3&type=section&id=Conference%20Call%20and%20Webcast%20Details) Carlisle held a conference call and webcast on April 25, 2024, to discuss its first-quarter 2024 results, with details provided for investor access - The conference call was held on April 25, 2024, at **5:00 p.m. ET**[20](index=20&type=chunk) - Webcast access is available via the company website at www.carlisle.com/investors/events-and-presentations, or by phone at **800-549-8228** (domestic toll-free) or **646-564-2877** (international), using conference ID **27308**[20](index=20&type=chunk)[45](index=45&type=chunk) [Forward-Looking Statements](index=3&type=section&id=Forward-Looking%20Statements) This press release contains forward-looking statements subject to various risks and uncertainties, with no obligation to update unless legally required - Forward-looking statements reflect future expectations but are subject to unforeseen risks and uncertainties[20](index=20&type=chunk) - Factors that could impact future performance include increased competition, technological developments, rising raw material costs, changes in government policy, and global economic conditions[20](index=20&type=chunk) [Contact Information](index=4&type=section&id=Contact%20Information) Investor relations contact information is provided for inquiries - Contact: Mehul Patel, Vice President of Investor Relations, Phone: **(310) 592-9668**, Email: **mpatel@carlisle.com**[47](index=47&type=chunk)

Wall Street analysts forecast that Carlisle (CSL) will report quarterly earnings of $2.74 per share in its upcoming release, pointing to a year-over-year increase of 6.6%. It is anticipated that revenues will amount to $993.06 million, exhibiting a decline of 15.8% compared to the year-ago quarter.Over the last 30 days, there has been an upward revision of 0.9% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of the ...

Carlisle (CSL) closed the latest trading day at $367.41, indicating a -0.39% change from the previous session's end. The stock's performance was behind the S&P 500's daily loss of 0.22%. Elsewhere, the Dow gained 0.06%, while the tech-heavy Nasdaq lost 0.52%.The diversified manufacturer's stock has dropped by 2.74% in the past month, exceeding the Conglomerates sector's loss of 8.6% and lagging the S&P 500's loss of 1.66%.Analysts and investors alike will be keeping a close eye on the performance of Carlisl ...

Carlisle (CSL) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Over the past month, shares of this diversified manufacturer have returned -2.7%, compared to the Zacks S&P 500 composite's -1.7% change. During this period, the Zacks Diversified Operations industry, which Carlisle falls in, has lost 8.6%. The key question now is: What could be the stock's future direction?Although media r ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Carlisle (CSL) .Carlisle currently has an average brokerage recommendation (ABR) of 2.00, on a ...

Investors are always looking for stocks with diverse business operations and at the moment the Zacks Diversified Operations Industry is in the top 8% of over 250 Zacks industries.With these stocks considered multi-sector conglomerates their improved outlooks are very appealing and here are a few to consider.Carlisle Companies (CSL) : We’ll start with Carlisle Companies which operates a global portfolio of niche brands and businesses that manufacture a wide range of roofing and waterproofing products, engine ...

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.Zacks Premium also includes the Zacks Style Scores.What are the Zacks Style Scores?Developed alongsid ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even though momentum is a popular stock char ...

One stock that might be an intriguing choice for investors right now is Carlisle Companies Incorporated (CSL) . This is because this security in the Diversified Operations space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking pl ...

Carlisle Companies Incorporated (CSL) is gaining from strength in the Carlisle Construction Materials (CCM) segment, expansion efforts, Vision 2030 program and a sound capital-deployment strategy.Let’s delve into the factors that make this current Zacks Rank #1 (Strong Buy) company a smart investment choice at the moment.Business Strength: Carlisle's diversified business structure enables it to tap opportunities and neutralize operating risks associated with a single market. The company stands to gain from ...