Carlisle Companies Reports Record Second Quarter Diluted EPS of $2.65, a 42% Increase from Prior Year

SCOTTSDALE, ARIZONA, July 23, 2019 - Carlisle Companies Incorporated (NYSE:CSL) today announced its financial results for the three month period ended June 30, 2019.

Second quarter revenue increased 6.4% year-over-year to a record $1.3 billion
Operating income reached a record $207.2 million, an increase of 29.7% year-over-year
Repurchased 550,000 shares, totaling $75 million
CCM revenue increased 10.4% (4.7% organic) year-over-year despite above average rainfall in parts of North America
Second Quarter 2019

Revenue of $1.31 billion increased 6.4% from $1.24 billion in the second quarter of 2019. Organic revenue grew 2.3% (organic revenue defined as revenue excluding acquired revenues within the last twelve months and the impact of changes in foreign exchange rates versus the U.S. Dollar). Acquired revenues contributed a total of 4.7% in the quarter. Changes in foreign exchange rates had a negative (0.6%) impact on revenues.

Operating income of $207.2 million was up 29.7% from the second quarter of 2018. Operating income performance was driven by price/cost realization, lower restructuring, higher sales volume and contributions from the Carlisle Operating System (COS), partially offset by wage inflation and acquisition costs.

In addition to the factors driving operating income improvement, diluted EPS from continuing operations benefited from a lower tax rate and lower share count. Diluted EPS for the quarter included $0.06 of restructuring, facility rationalization, and acquisition related costs, and $0.09 of discrete tax benefits.

CEO Comment

Chris Koch, President and Chief Executive Officer, said, “We are pleased with Carlisle's record second quarter sales and diluted EPS results. These results demonstrate our continued progress towards our Vision 2025 goals of: $8 billion in revenues, 20% operating income, and 15% ROIC.

Second quarter results were driven by: strong execution, continued solid demand at CCM and CIT, price discipline across all four segments, and efficiencies gained from COS. We continue to see a healthy backdrop in demand for both new construction and replacement products across the building envelope within CCM, while robust commercial aircraft build rates continue at CIT. Combined with price/cost dynamics and efficiencies gained from prior year restructuring efforts, we leveraged these positives into solid incremental margins. Additionally in the second quarter, CBF continued to execute well on its margin expansion goals driven by increased efficiencies at its Medina, OH facility.

During the second quarter, global macro uncertainties, including unresolved trade negotiations, Brexit, a general slowing of industrial capital spending, and severe weather in North America challenged the global Carlisle team. Despite these challenges, the team continued to drive sales and operating income improvements under Vision 2025 initiatives.

We also continued to work an active M&A pipeline, broadening our scope and scale of product offerings as demonstrated by our second quarter acquisition of MicroConnex, which adds key sensor and and micro-flex circuit technology within CIT's Medical Technologies platform, and the acquisitions of Hosco Fittings, Integrated Dispense Solutions, and Shinhang to establish a Sealants and Adhesives platform within CFT.

The following information was filed by Carlisle Companies Inc (CSL) on Tuesday, July 23, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Carlisle Companies Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Carlisle Companies Inc.


Never Miss A New SEC Filing Again

Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.


We Highlighted This SEC Filing For You

SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.


Widen Your SEC Filing Reading Experience

Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view


Uncover Actionable Information Inside SEC Filings

SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q


Adobe PDF, Microsoft Word and Excel Downloads

Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis


FREE Financial Statements

Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator

Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019) Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not


Financial Stability Report

Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019) Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity


Get a Better Picture of a Company's Performance

Financial Ratios
Available Financial Ratios Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years


Log in with your credentials


Forgot your details?

Create Account