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Carlisle Companies Inc (CSL) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

Carlisle Companies Inc

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CIK: 790051 Ticker: CSL


Exhibit 99.1

PRESS RELEASE
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02/08/18

Carlisle Companies Reports Record Full Year and Fourth Quarter Net Sales

•
Record Fourth Quarter Net Sales of $1,071.8 million on 7.6% Organic Growth
•
Record Fourth Quarter Reported Earnings per Share from Continuing Operations of $1.82, including $0.19 of Restructuring, Facility Rationalization and Acquisition Related Costs, and $0.84 of estimated positive direct and indirect impact due to the Tax Cuts and Jobs Act
•
Full Year Reported Earnings per Share from Continuing Operations of $5.71, including $0.64 of Restructuring, Facility Rationalization and Acquisition Related Cost and $0.82 of estimated positive direct and indirect impact due to the Tax Cuts and Jobs Act
•
Generated full year operating cash flows of $458.7 million
•
Signed definitive agreement to sell Carlisle FoodService Products for $750 million

SCOTTSDALE, ARIZONA, February 8, 2018 - Carlisle Companies Incorporated (NYSE:CSL) reported record fourth quarter 2017 net sales of $1,071.8 million, a 20.0% increase from $893.5 million in the fourth quarter of 2016. Acquired net sales contributed a total of 11.7% in the quarter. Organic net sales grew 7.6% (organic net sales are defined as net sales excluding both sales from acquisitions within the last twelve months and the impact of changes in foreign exchange rates versus the U.S. Dollar). Foreign exchange had a positive impact of 0.7%.

Fourth quarter 2017 adjusted diluted EPS improved due to the positive direct and indirect impact of the Tax Cuts and Jobs Act. This increase was offset by lower operating results related to lower sales and margin in the Carlisle Interconnect Technologies (CIT) segment, rising raw material costs in the Carlisle Construction Materials (CCM) segment, and increased costs related to restructuring, facility rationalization, and acquisition related costs at CCM, CIT, Carlisle Fluid Technologies (CFT) and the Carlisle Brake & Friction (CBF) segments. Partially offsetting the lower operating results were higher net sales volume at CCM and CBF, acquired operating earnings at Carlisle FoodService Products (CFS), and savings from the Carlisle Operating System (COS).
(in millions, except per share amounts)
 
Q4 2017
 
Q4 2016
 
YTD 2017
 
YTD 2016
 
 
 
 
 
 
 
 
 
Net sales
 
$
1,071.8

 
$
893.5

 
$
4,089.9

 
$
3,675.4

Operating income
 
$
104.0

 
$
114.7

 
$
505.7

 
$
438.1

Adjusted operating income (1)
 
$
104.0

 
$
114.7

 
$
505.7

 
$
579.6

Income from continuing operations, net of tax
 
$
115.1

 
$
76.5

 
$
365.3

 
$
250.8

Adjusted income from continuing operations, net of tax (1)
 
$
115.1

 
$
86.6

 
$
365.3

 
$
383.5

Diluted EPS from continuing operations
 
$
1.82

 
$
1.17

 
$
5.71

 
$
3.83

Adjusted diluted EPS from continuing operations (1)
 
$
1.82

 
$
1.32

 
$
5.71

 
$
5.86

Items affecting comparability after tax impact on EPS(2)
 
$
(0.65
)
 
$
0.16

 
$
(0.18
)
 
$
0.26

(1) 
Adjusted to exclude goodwill and intangible asset impairment charges totaling $141.5 million pre-tax, $132.7 million after-tax or $2.03 per share for 2016 YTD period. See related Non-GAAP Reconciliation in the financial exhibits.
(2) 
See schedule of Items Affecting Comparability in the financial exhibits.







The following information was filed by Carlisle Companies Inc (CSL) on Thursday, February 8, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Earnings And Comprehensive Income
Consolidated Statements Of Shareholders' Equity
Consolidated Statements Of Shareholders' Equity (parenthetical)
Accrued Expenses
Accrued Expenses (details)
Accrued Expenses (tables)
Accrued Expenses - Product Warranties (details)
Accumulated Other Comprehensive (loss) (details)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (tables)
Acquisitions
Acquisitions (details)
Acquisitions (tables)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Future Minimum Lease Payments (details)
Commitments And Contingencies - Leases (details)
Commitments And Contingencies - Letters Of Credit And Guarantees (details)
Commitments And Contingencies - Litigation And Environmental Matters (details)
Commitments And Contingencies - Workers' Compensation And Related Losses (details)
Deferred Revenue
Deferred Revenue (details)
Deferred Revenue (tables)
Earnings Per Share
Earnings Per Share (details)
Earnings Per Share (tables)
Exit And Disposal Activities
Exit And Disposal Activities (details)
Exit And Disposal Activities (tables)
Foreign Currency Forward Contracts
Foreign Currency Forward Contracts (details)
Goodwill And Other Intangible Assets, Net
Goodwill And Other Intangible Assets, Net (tables)
Goodwill And Other Intangible Assets, Net - Changes In The Carrying Amount Of Goodwill (details)
Goodwill And Other Intangible Assets, Net - Net Carrying Value Of Other Intangibles (details)
Goodwill And Other Intangible Assets, Net - Other Intangibles And Amortization (details)
Income Taxes
Income Taxes (tables)
Income Taxes - Balance Sheet Location For Deferred Items And Unrecognized Tax Benefits (details)
Income Taxes - Deferred Tax Assets And Liabilities (details)
Income Taxes - Pre-tax Income And Provision (details)
Income Taxes - Tax Examinations (details)
Income Taxes Income Taxes - Tax Cuts And Jobs Act (details)
Inventories
Inventories (details)
Inventories (tables)
Long-term Debt
Long-term Debt (details)
Long-term Debt (tables)
Other Long-term Liabilities
Other Long-term Liabilities (details)
Other Long-term Liabilities (tables)
Property, Plant And Equipment, Net
Property, Plant And Equipment, Net (tables)
Property, Plant, And Equipment, Net (details)
Quarterly Financial Data (unaudited)
Quarterly Financial Data (unaudited) (details)
Quarterly Financial Data (unaudited) (tables)
Retirement Plans
Retirement Plans (tables)
Retirement Plans - Defined Benefit Plans (details)
Retirement Plans - Fair Value Measurements (details)
Retirement Plans - Net Periodic Benefit Cost And General Information (details)
Segment Information
Segment Information (tables)
Segment Information - Net Sales And Long-lived Assets (details)
Segment Information- Financial Information For Operations (details)
Stock-based Compensation
Stock-based Compensation (tables)
Stock-based Compensation - Stock Award Information And Fair Value Assumptions (details)
Stock-based Compensation - Vesting And Deferred Compensation Plan (details)
Subsequent Events
Subsequent Events (details)
Summary Of Accounting Policies
Summary Of Accounting Policies (policies)
Summary Of Accounting Policies (tables)
Summary Of Accounting Policies - Allowance For Doubtful Accounts (details)
Summary Of Accounting Policies - Extended Product Warranty Contracts (details)
Summary Of Accounting Policies - Machinery And Equipment (details)
Summary Of Accounting Policies - New Accounting Standards (details)
Summary Of Accounting Policies Summary Of Accounting Policies - Goodwill And Other Intangible Assets (details)
Ticker: CSL
CIK: 790051
Form Type: 10-K Annual Report
Accession Number: 0000790051-18-000095
Submitted to the SEC: Fri Feb 16 2018 3:40:54 PM EST
Accepted by the SEC: Fri Feb 16 2018
Period: Sunday, December 31, 2017
Industry: Fabricated Rubber Products

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