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Carlisle Companies Inc (CSL) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

Carlisle Companies Inc

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CIK: 790051 Ticker: CSL


PRESS RELEASE
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04/21/20

Carlisle Companies Reports First Quarter Diluted Earnings per Share of $1.09

SCOTTSDALE, ARIZONA, April 21, 2020 - Carlisle Companies Incorporated (NYSE:CSL) today announced its financial results for the three month period ended March 31, 2020 and, in response to regulatory recommendations, will provide details, including forward-looking information, on the impacts of the coronavirus (COVID-19) pandemic on the Company.

Carlisle is closely monitoring developments in the coronavirus pandemic and is managing the Company’s activities and responses through a multi-disciplinary team that regularly assesses the Company’s policies and procedures in light of this ever-changing environment. The Company’s top priorities are assuring the health and safety of our employees and supporting our essential businesses so vital to our customers, our communities and our employees.

Comments from Chris Koch, President and Chief Executive Officer

"Before we turn to our first quarter financial results, our attention is drawn to the global human tragedy that continues to unfold in front of us for millions of people, including our co-workers, business partners, friends and families. At this time, our thoughts are with those affected, their grief-stricken families, and those on the front lines combating the coronavirus for our collective well-being. While mindful of our challenges, I am inspired by the spirit of our employees, grateful to them for their dedication to Carlisle, and for delivering on our commitments to our customers and to the communities they serve.

First and foremost, our pledge is to provide a safe working environment for our employees. The crisis management protocols we have established, and are following today, were first developed as the coronavirus threat began to impact our multiple facilities in China. As the virus spread across the globe, our next significant area of impact was the Lombardy region of Italy where we have an important presence in Orzinouvi. The global and diversified nature of our businesses ultimately helped us prepare in the United States for what is turning out to be a devastating impact to the U.S. economy. We are following best practices and guidance from recognized authorities on employee health and safety measures, including safe hygiene and social distancing, enhanced facility cleaning, travel and facility access restrictions and a telecommuting policy for eligible employees. We will continue to update these policies as necessary.

Our operations have been deemed essential in many countries, states and local jurisdictions. This is a testament to the importance of our products and the employees who design and produce them. We are very pleased to be able to provide uninterrupted service to our customers who need our products to maintain critical infrastructure and supply vital medical and transportation products at this time.

While we are rightly adjusting our business operating norms in response to necessary health and safety guidelines, we also intend to stay on a course of responsible business activity to maintain a stable foundation for the post-COVID-19 business recovery that we know will arrive. Fortunately, all but a very few of our manufacturing facilities continue to operate as essential business. Our efforts to protect our employees at these facilities by implementing recognized COVID-19 health and safety measures and providing sick and family leave benefits have not had, and are not expected to have, a material adverse effect on our operations. However, potentially prolonged declines in customer demand are negatively impacting our operations by decreasing sales, increasing operating costs, reducing efficiencies and increasing employee absenteeism. We are unable to predict the full extent or duration of these impacts at this time.

We will turn the corner on this crisis. In the meantime, all companies, including Carlisle, must brace for prudent adjustments to business structures, employment, and pay policies as this global calamity continues. While Carlisle is in a strong position to weather the economic toll being inflicted by the coronavirus, doing the right things now to ensure we emerge from this crisis in the best possible position is key to our future security. I have every confidence we will do so.


The following information was filed by Carlisle Companies Inc (CSL) on Tuesday, April 21, 2020 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.

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Inside Carlisle Companies Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)
Condensed Consolidated Statement Of Shareholders' Equity (Unaudited)
Condensed Consolidated Statement Of Shareholders' Equity (Unaudited) (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Income And Comprehensive Income (Unaudited)
Acquisitions
Acquisitions (Details)
Acquisitions (Tables)
Basis Of Presentation
Commitments And Contingencies
Defined Benefit Plan
Defined Benefit Plan (Details)
Defined Benefit Plan (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)
Exit And Disposal Activities - Components Of Exit And Disposal Activities (Details)
Exit And Disposal Activities - Exit And Disposal Activity Liability (Details)
Financial Instruments
Financial Instruments (Details)
Financial Instruments (Tables)
Financial Instruments - Changes In Aoci Related To Cash Flow Hedges (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 (Details)
Inventories, Net
Inventories, Net (Details)
Inventories, Net (Tables)
Long-Term Debt
Long-Term Debt (Details)
Long-Term Debt (Tables)
New Accounting Pronouncements
New Accounting Pronouncements (Details)
New Accounting Pronouncements (Tables)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Change In Contract Assets (Details)
Revenue Recognition - Change In Contract Liabilities (Details)
Revenue Recognition - Remaining Performance Obligation (Details)
Revenue Recognition - Timing Of Revenue Recognition And Reconciliation Of Disaggregate Revenue (Details)
Segment Information
Segment Information (Details)
Segment Information (Tables)
Standard Product Warranties
Standard Product Warranties (Details)
Standard Product Warranties (Tables)
Stock-Based Compensation
Stock-Based Compensation (Details)
Stock-Based Compensation (Tables)

Material Contracts, Statements, Certifications & more

Carlisle Companies Inc provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.1: Section 1350 Certification
Ticker: CSL
CIK: 790051
Form Type: 10-Q Quarterly Report
Accession Number: 0000790051-20-000084
Submitted to the SEC: Thu Apr 23 2020 3:06:27 PM EST
Accepted by the SEC: Thu Apr 23 2020
Period: Tuesday, March 31, 2020
Industry: Fabricated Rubber Products

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