Carlisle(US:CSL)2025-10-29 20:11Revenue and Earnings - Revenue for Q3 2025 was $1.3 billion, reflecting a 1% year-over-year increase[5] - Adjusted EPS for Q3 2025 was $5.61, down 2.9% from $5.78 in Q3 2024[6] - Revenues for Q3 2025 reached $1,346.9 million, a slight increase of 1.0% compared to $1,333.6 million in Q3 2024[16] - Net income for Q3 2025 was $214.2 million, a decrease of 12.3% compared to $244.3 million in Q3 2024[16] - Basic earnings per share for Q3 2025 were $5.02, down from $5.31 in Q3 2024, reflecting a decline of 5.5%[16] - Adjusted net income for Q3 2025 was $241.2 million, compared to $268.9 million in Q3 2024, reflecting a decrease of 10.3%[33] - Adjusted net income for the nine months ended September 30, 2025, is $675.9 million, with an adjusted EPS of $15.47[35] - Net income (GAAP) for the same period is $613.3 million, resulting in a diluted EPS of $14.03[35] - Income from continuing operations (GAAP) is $609.1 million, with a diluted EPS of $13.94[35] Operating Performance - Operating margin for Q3 2025 was 21.8%, a decrease of 190 basis points compared to 23.7% in Q3 2024[5] - Operating income for Q3 2025 was $293.9 million, down 7.1% from $316.4 million in Q3 2024[16] - Adjusted EBITDA for Q3 2025 was $348.7 million, compared to $367.9 million in Q3 2024, representing a decrease of 5.5%[29] - The adjusted EBITDA margin for Q3 2025 was 25.9%, down 170 basis points from 27.6% in Q3 2024[5] - EBIT for Q3 2025 was $292.3 million, down from $317.5 million in Q3 2024, a decline of 7.5%[29] Cash Flow and Debt - The company expects to generate approximately $1.0 billion in cash from operating activities for the year[4] - Cash and cash equivalents at the end of Q3 2025 were $1,105.0 million, an increase from $753.5 million at the end of 2024[20] - Net cash provided by operating activities for the nine months ended September 30, 2025, was $715.8 million, up from $659.7 million in the same period of 2024[18] - Free cash flow from continuing operations for the nine months ended September 30, 2025, was $620.3 million, compared to $597.2 million in 2024[26] - Long-term debt increased to $2,883.3 million as of September 30, 2025, from $1,890.6 million at the end of 2024[20] Acquisitions and Synergies - Annualized savings of $12 million are anticipated from synergies related to the Plasti-Fab and ThermaFoam acquisitions[4] - The impact of acquisition-related amortization on adjusted net income for Q3 2025 was $28.7 million[33] - Acquisition-related amortization for the nine months ended September 30, 2025, is $85.6 million, impacting adjusted EPS by $1.50[35] - The company reported a gain from acquisitions of $9.9 million, which positively impacted adjusted EPS by $0.17[35] Research and Development - Research and development expenses for Q3 2025 were $12.4 million, up from $8.1 million in Q3 2024, indicating a focus on innovation[16] Shareholder Returns - Share repurchase target increased to $1.3 billion for the full year of 2025[5] - The company declared and paid dividends of $1.10 per share in Q3 2025, compared to $1.00 per share in Q3 2024[16] Other Financial Metrics - Total non-comparable items for Q3 2025 amounted to $6.6 million, compared to $5.8 million in Q3 2024[29] - Interest expense for Q3 2025 was $21.3 million, an increase from $18.6 million in Q3 2024[29] - The company experienced a decrease in income from discontinued operations, which was $4.2 million, affecting diluted EPS by $0.09[35] - Total adjustments to net income amount to $66.8 million, contributing an additional $1.53 to adjusted EPS[35] - Legal settlements contributed $1.6 million to net income, with a corresponding impact of $0.03 on adjusted EPS[35] - Restructuring costs added $4.4 million to net income, impacting adjusted EPS by $0.08[35]