Carlisle Companies reports mixed Q3 results, maintains positive outlook

NEW YORK - Carlisle Companies Incorporated (NYSE:CSL (OTC:CSLLY )) reported third quarter 2024 results that were mixed compared to analyst expectations, with earnings slightly missing estimates but revenue growing YoY. The company maintained a positive outlook for the fourth quarter despite some headwinds.

Carlisle posted adjusted earnings per share of $5.78, falling short of the $5.83 analyst consensus by $0.05. Revenue came in at $1.3 billion, up 5.9% YoY but below the $1.38 billion consensus estimate.

The company's Carlisle Construction Materials (CCM) segment was a bright spot, with revenue increasing 9% YoY to $998 million. CCM's adjusted EBITDA margin expanded 110 basis points to a record 32.8% for Q3.

However, the Carlisle Weatherproofing Technologies (CWT) segment faced challenges, with revenue declining 3% YoY to $335 million due to softness in residential markets.

"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," said Chris Koch, Chair, President and CEO.

For Q4 2024, Carlisle expects overall revenues to increase low single digits, with CCM up mid-single digits but CWT down low single digits. The company forecasts an adjusted EBITDA margin of approximately 25% for the quarter.

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

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Source: Investing.com