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Carlisle Companies Inc (CSL) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Carlisle Companies Inc

CIK: 790051 Ticker: CSL


PRESS RELEASE
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02/07/19

Carlisle Companies Reports Fourth Quarter Diluted EPS of $1.49 and Full Year 2018 Results

SCOTTSDALE, ARIZONA, February 7, 2019 - Carlisle Companies Incorporated (NYSE:CSL) today announced its financial results for the three and twelve month periods ended December 31, 2018.

Record Fourth Quarter Revenue increased 8.8% to $1.1 billion driven by organic revenue growth of 5.3%
Operating income for the quarter of $114.6 million, increased 22.7%
Reported diluted EPS for the quarter was $1.49, including $0.17 of restructuring, facility rationalization, and acquisition related costs
Repurchased 1.6 million shares for $164.4 million in the quarter and 4.4 million shares for $459.8 million for the full year
Board of Directors authorized an additional 5 million shares for repurchase on February 5, 2019
Fourth Quarter 2018

Revenues of $1.1 billion increased 8.8% from $990.5 million in the fourth quarter of 2017. Organic revenue grew 5.3% (organic revenue defined as revenue excluding acquired revenues within the last twelve months, ASC 606 revenue recognition standard, and the impact of changes in foreign exchange rates versus the U.S. Dollar). Acquired revenue contributed a total of 4.3% in the quarter. Changes in foreign exchange rates and the adoption of ASC 606 revenue recognition standard each had a negative (0.4%) impact on revenues.

Operating income of $114.6 million, up 22.7% from the fourth quarter of 2017, resulted in an operating margin of 10.6%, a 120 basis point improvement. Operating income performance was driven by higher sales volume, price realization, and contributions from the Carlisle Operating System (COS), partially offset by increases in freight, labor-related and raw material costs, and restructuring at Carlisle Brake & Friction (CBF).

During the fourth quarter of 2018, Carlisle announced that it had entered into a definitive purchase agreement to acquire Petersen Aluminum Corporation, a manufacturer of high-quality metal roofing products for approximately $197 million, which closed on January 11, 2019.

Consistent with our Vision 2025 strategy, Carlisle repurchased 1.6 million shares of common stock for $164.4 million in the fourth quarter.

Full Year 2018

2018 revenues of $4.5 billion increased 19.4% from $3.8 billion for 2017. Acquired revenues contributed a total of 11.2%. Organic revenues grew 7.2%. Foreign exchange had a positive impact of 0.4%, while adoption of ASC 606 revenue recognition standard had a positive impact of 0.6%.

2018 operating income of $509.0 million, up 9.7% from 2017, resulted in an operating margin of 11.4%. Operating income performance was driven by higher sales volume, price realization, and contributions from the Carlisle Operating System (COS). Operating Income performance was partially offset by increases in freight, labor-related, and raw material costs, and unfavorable product mix.

For the full year 2018, Carlisle delivered diluted EPS of $5.88, including restructuring, facility rationalization, and acquisition related costs of $0.45. Carlisle's EPS benefited from a lower effective tax rate and reduced share count.




The following information was filed by Carlisle Companies Inc (CSL) on Thursday, February 7, 2019 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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Inside Carlisle Companies Inc's 10-K Annual Report:

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 Income 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)
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 - Litigation And Environmental Matters (Details)
Commitments And Contingencies - Workers' Compensation And Related Losses (Details)
Discontinued Operations
Discontinued Operations (Details)
Discontinued Operations (Tables)
Discontinued Operations - Assets And Liabilities Of Discontinued Operations (Details)
Discontinued Operations - Results From Discontinued Operations (Details)
Discontinued Operations - Summary Of Cash Flows From Discontinued Operations (Details)
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)
Financial Instruments
Financial Instruments (Details)
Financial Instruments (Tables)
Financial Instruments - Accumulated Other Comprehensive Income (Loss) (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)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Contract Balances (Details)
Revenue Recognition - Remaining Performance Obligation (Details)
Revenue Recognition - Timing Of Revenue Recognition And Reconciliation Of Disaggregate Revenue (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 - Effects Of Adopting Asc 606 (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: 0000790051-19-000070
Submitted to the SEC: Thu Feb 14 2019 10:50:17 AM EST
Accepted by the SEC: Thu Feb 14 2019
Period: Monday, December 31, 2018
Industry: Fabricated Rubber Products

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