Financial Data and Key Metrics Changes - For the full year 2025, Carlisle generated $5 billion in revenue, with adjusted EPS at $19.40 and adjusted EBITDA margins of 24.4% [4] - In Q4 2025, revenue was approximately $1.1 billion, with adjusted EPS at $3.90 and adjusted EBITDA margin at 22.1%, a decrease of 300 basis points year-over-year [24][25] - Free cash flow for 2025 was $972 million, representing a free cash flow margin of 19.4%, exceeding the Vision 2030 target of 15% [5][29] Business Line Data and Key Metrics Changes - CCM (Commercial Roofing and Building Envelope) reported Q4 revenue of $827 million, a decline of 0.8% year-over-year, with adjusted EBITDA of $222 million, down 10% from the prior year [25] - CWT (Construction and Water Treatment) reported Q4 revenues of $301 million, up 4% year-over-year, but organic revenue declined 7% due to softness in new construction markets [26][27] Market Data and Key Metrics Changes - The reroofing market, which constitutes approximately 70% of CCM's business, is expected to grow low to mid-single digits in 2026, driven by the aging non-residential building stock [9][12] - The overall North American roofing and building envelope market is considered attractive due to regulatory pressures for energy efficiency and an aging building base [11] Company Strategy and Development Direction - The company aims to achieve adjusted EPS of $40 per share and maintain ROIC above 25% as part of its Vision 2030 strategy [5][22] - Key pillars of the strategy include operational excellence, customer experience, innovation, acquisitions, and talent management [14][20] Management's Comments on Operating Environment and Future Outlook - Management anticipates low single-digit revenue growth for 2026, with a gradual recovery expected in the second half of the year [13][30] - The company remains focused on innovation and operational improvements to drive margin expansion despite market uncertainties [32] Other Important Information - Carlisle repurchased $1.3 billion of shares in 2025 and returned $181 million to shareholders through dividends, marking the 49th consecutive annual dividend increase [6][29] - The company has a strong balance sheet with $1.1 billion in cash and equivalents, providing flexibility for future investments and acquisitions [28] Q&A Session Summary Question: Update on Vision 2030 and key pillars for reaching $40 EPS - Management highlighted margin expansion at CWT and technology advancements as critical to achieving the $40 EPS target, with M&A remaining an important component [36][38] Question: Sustainability of reroofing demand and new construction recovery - Management expressed optimism about the reroofing market and potential recovery in new construction, particularly with government investments [45][46] Question: Anticipation of distributor restocking activity and distribution disruptions - Management noted progress in resolving distribution issues and expects positive volume improvements as the construction season begins [53][54] Question: Pricing outlook for single ply and market fundamentals - Management indicated that pricing has been relatively flat but anticipates potential upward pressure if new construction rebounds [59][60] Question: Pricing expectations for CWT in 2026 - Management expects pricing for CWT to remain flat throughout 2026, with minor fluctuations possible [72]

Core Insights - The narrative highlights the journey of a Latina artist who transitioned from a childhood singing career to founding a PR agency, emphasizing the importance of adaptability and change in one's career path [1][4][8]. Group 1: Early Career - The artist gained fame at a young age by winning a competition on "Sábado Gigante" and subsequently signed with Sony, marking the beginning of her music career [1][2]. - She performed traditional Mariachi music and produced a Gold album, showcasing her early success and international recognition [2]. Group 2: Transition to Normal Life - At 15, the artist decided to end her contract with Sony to pursue a more typical teenage experience, indicating a desire for normalcy after a demanding career [4]. - Financially, the earnings from her music career were not a primary concern for her family, as her father continued to work as a mechanic, and the money was saved for her future [5]. Group 3: Career Shift - After high school, the artist worked in a Verizon store while contemplating a return to music, ultimately realizing that her music career had concluded [6]. - She ventured into marketing and PR, eventually establishing her own agency in 2015, which later pivoted to talent management for social media influencers [7]. Group 4: Current Success - The agency generated nearly $4 million in revenue in the previous year, highlighting its financial success and growth in the influencer management space [7]. - The artist leads an all-female team and focuses on promoting BIPOC individuals while prioritizing mental health, reflecting a commitment to diversity and well-being in the workplace [7]. Group 5: Lessons Learned - The artist emphasizes the importance of having a backup plan and being open to change, advising influencers to diversify their income streams [8][9]. - She expresses no regrets about her past decisions, indicating a positive outlook on her career transitions and the lessons learned along the way [9].