Core Insights - Carlisle Companies Incorporated (CSL) reported fourth-quarter 2025 adjusted earnings of $3.90 per share, exceeding the Zacks Consensus Estimate of $3.60, but reflecting a 13% year-over-year decline [1] - Total revenues for CSL reached $1.13 billion, surpassing the consensus estimate of $1.10 billion, with a year-over-year increase of 0.4% [1] - Organic revenues decreased by 2.5% year over year, while acquisitions contributed a 2.7% increase to the top line [1] Financial Performance - In 2025, CSL's net revenues amounted to $5 billion, marking a 0.3% year-over-year increase, while adjusted earnings were $19.40 per share, down 4% year over year [2] - The cost of sales rose by 4.1% year over year to $747.1 million, and selling and administrative expenses increased by 1% to $176.6 million [5] - Research and development expenses surged by 46.6% year over year to $12.9 million [5] - Operating income fell to $190.0 million, a decrease of 15.2% year over year, with the operating margin declining by 310 basis points to 16.8% [5] Segment Analysis - Revenues from the Carlisle Construction Materials segment increased by 0.3% year over year to $826.8 million, with organic revenues down by 1.1% [3] - The Carlisle Weatherproofing Technologies segment saw a 4% year-over-year revenue increase to $300.9 million, driven by acquisitions, despite a 6.6% decline in organic revenues [4] Cash Flow and Shareholder Returns - At the end of Q4, CSL had cash and cash equivalents of $1.11 billion, up from $753.5 million at the end of 2024, while long-term debt rose to $2.9 billion from $1.89 billion [6] - The company provided net cash of $1.10 billion for operating activities, compared to $1.03 billion in the previous year [6] - CSL rewarded shareholders with a dividend payment of $181.1 million, a 5% increase year over year, and repurchased shares worth $1.3 billion, down 18% year over year [7] Future Outlook - For 2026, CSL anticipates low-single-digit revenue growth across both the Construction Materials and Weatherproofing Technologies segments [9] - The company expects an adjusted EBITDA margin increase of approximately 50 basis points and a free cash flow margin exceeding 15% [9]