CARLISLE COMPANIES INC SEC 10-Q Report

Carlisle Companies Inc., a diversified global manufacturer of highly engineered products, has released its Form 10-Q report for the first quarter of 2025. The report provides a comprehensive overview of the company's financial performance and operational highlights, reflecting the challenges and opportunities faced in the current market environment.

Financial Highlights

Revenues: $1,095.8 million, reflecting a slight decrease of 0.1% compared to the same period in 2024, primarily due to lower sales in the residential construction end-market.

Gross Profit: $385.7 million, representing a decrease of 3.3% from the previous year, mainly due to lower sales volume in the Carlisle Weatherproofing Technologies segment.

Operating Income: $183.6 million, down from $225.2 million in 2024, with an operating margin of 16.8% compared to 20.5% in the prior year, impacted by higher selling and administrative expenses.

Net Income: $143.3 million, a decrease from $192.3 million in the first quarter of 2024, influenced by lower operating income and higher expenses.

Diluted EPS: $3.13, down from $3.52 in the previous year, reflecting the overall decrease in net income and the impact of share repurchases.

Business Highlights

Revenue Segments: Carlisle Construction Materials (CCM) reported revenues of $798.5 million, driven by higher sales in the non-residential construction end-market, particularly due to the acquisition of MTL Holdings. Carlisle Weatherproofing Technologies (CWT) reported revenues of $297.3 million, with a decrease primarily due to lower sales in the residential construction end-market.

Geographical Performance: The United States remains the primary market, contributing $965.9 million to total revenues. International sales totaled $129.9 million, with Europe and North America (excluding the U.S.) being significant contributors.

Sales Units: The CCM segment experienced increased sales in the non-residential construction end-market, while the CWT segment saw a decline in residential construction sales due to lower new construction activity and adverse weather conditions.

New Product Launches: The company continues to focus on innovation, with increased research and development expenses aimed at new product development, aligning with their Vision 2030 strategy to drive energy efficiency and sustainability.

Future Outlook: Management anticipates a low-single-digit increase in commercial roofing volumes, driven by re-roofing demand. The company is also raising its 2025 target level of share repurchases from $800 million to $1 billion, reflecting confidence in future performance.

Operational Challenges: The company faced challenges from softness in the residential construction market and economic uncertainty due to tariffs, but remains optimistic about the upcoming U.S. summer construction season.

Acquisition Impact: Recent acquisitions, including MTL Holdings, PFB Holdco, and ThermaFoam, contributed $50 million in revenue for the quarter and are expected to exceed original synergy projections.

SEC Filing: CARLISLE COMPANIES INC [ CSL ] - 10-Q - Apr. 24, 2025