Carlisle Companies Incorporated Reports Q3 2024 Results

NEW YORK – Carlisle Companies Incorporated (NYSE: CSL, OTC: CSLLY) reported mixed results for the third quarter of 2024, with earnings slightly missing analyst expectations while revenue showed year-over-year growth. Despite facing some challenges, the company maintained a positive outlook for the upcoming fourth quarter.

Financial Highlights

• Adjusted Earnings Per Share: $5.78 (below the $5.83 analyst consensus by $0.05)
• Revenue: $1.3 billion (up 5.9% YoY but below the consensus estimate of $1.38 billion)

Segment Performance

The company’s Carlisle Construction Materials (CCM) segment experienced growth, with revenue increasing by 9% YoY to $998 million and an adjusted EBITDA margin that expanded 110 basis points to a record 32.8% for Q3.

In contrast, the Carlisle Weatherproofing Technologies (CWT) segment faced difficulties, with revenue declining by 3% YoY to $335 million due to weaknesses in residential markets.

Chris Koch, Chair, President, and CEO, stated, "Carlisle delivered another quarter of strong performance despite a continued decline in residential markets along with the well-known weather-related and port strike events."

Outlook for Q4 2024

For the fourth quarter of 2024, Carlisle anticipates overall revenue to increase by low single digits, CCM revenue to rise by mid-single digits, while CWT is expected to decline slightly. The company projects an adjusted EBITDA margin of approximately 25% for the quarter.

Share Repurchase and Dividend Increase

In Q3, Carlisle repurchased 1.1 million shares for a total of $466 million and increased its quarterly dividend by 18%, marking the 48th consecutive annual dividend increase.

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