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Carlisle Companies Inc (CSL) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

Carlisle Companies Inc

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CIK: 790051 Ticker: CSL


PRESS RELEASE
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2/4/21

Carlisle Companies Reports Fourth Quarter Diluted Earnings per Share of $1.57

SCOTTSDALE, ARIZONA, February 4, 2021 - Carlisle Companies Incorporated (NYSE:CSL) today announced its fourth quarter 2020 financial results.

•Reported consolidated fourth quarter revenue of $1.1 billion, with CCM quarterly sales turning positive on a year-over-year basis
•CCM reported record fourth quarter operating margin of 20.4% led by higher year-over-year sales volumes, continued benefits from pricing resolve and raw material cost containment
•Delivered $697 million of operating cash flow and $601 million of free cash flow in 2020, similar levels to 2019, despite lower sales year-over-year
•Share repurchases continued in the fourth quarter, totaling 3 million shares for $382 million for the full year

Comments from Chris Koch, Chairman, President and Chief Executive Officer

"As we close 2020, we are reminded of the lives lost due to COVID-19 around the world and of the pandemic's significant impact on Carlisle's employees, suppliers and our customers. I am heartened that Carlisle employees persevered and rallied around each other and their communities, all the while continuing to demonstrate the value of the Carlisle Experience to our customers. While the pandemic made 2020 a unique and challenging year for businesses across the globe, I am extremely proud of how Carlisle's employees prioritized safety and civility in their personal interactions. We must continue to navigate this pandemic responsibly and with balance, ensuring that the health and safety of our employees is a top priority. However, we must also meet customers' expectations and continue to give our employees the opportunity to provide for their families and support the communities in which they live.

2020 demonstrated yet again the exceptional and sustainable earnings power of the Carlisle business model, our proven ability to weather significant downturns and our laser focus on our long-term strategic objectives. CCM once again drove the majority of positives in Carlisle's fourth quarter results, supported by strong re-roofing trends, continued price discipline and superb management of raw material costs. CCM also made significant strides in integrating and improving our newer platforms of Architectural Metals and Polyurethanes. CCM's sustainable cash generating abilities, combined with the Carlisle Experience that has been developed over many years and recently elevated by our best-in-class, dedicated and accomplished global team, provide Carlisle with the financial and strategic flexibility that supports our conviction in achieving Vision 2025.

While CCM generated most of our earnings in 2020, our other business platforms made important improvements despite being impacted significantly in a challenging year. CIT delivered results in line with our expectations in a year of record declines in the aerospace industry by focusing on delivering new products to increase our content per plane, rightsizing its manufacturing footprint, further integrating its Medical platform and continuing to invest in our Test & Measurement and Sensors businesses. CFT exceeded expectations in the fourth quarter, leveraging a focus on execution while introducing exciting, innovative new products. Finally, CBF enters 2021 looking to benefit from our recent restructuring activities and with solid end-market tailwinds in core markets of Construction, Mining and Agriculture, further reinforced by an improved outlook for dealer inventory replenishment after reductions in the last several years.

As we build on the momentum in our core markets entering 2021, we also see significant opportunities to drive revenue and earnings growth as we accelerate through the recovery. We continue to invest in CCM Europe evidenced by new regional leadership, expansion of our world-class facility in Waltershausen, Germany and several new product introductions for 2021. Within our Architectural Metals platform, we have set plans in motion for three new locations in underserved regions around the U.S. while making progress consolidating our teams to drive commercial synergies and operational efficiencies. Our Polyurethane business is delivering sustainable growth by

The following information was filed by Carlisle Companies Inc (CSL) on Thursday, February 4, 2021 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

Cover Page
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 And Other Current Liabilities
Accrued And Other Current Liabilities (Details)
Accrued And Other Current Liabilities (Tables)
Accrued And Other Current Liabilities - Product Warranties (Details)
Acquisitions
Acquisitions (Details)
Acquisitions (Tables)
Commitment And Contingencies - Lease Assets And Lease Liabilities (Details)
Commitment And Contingencies - Lease Costs (Details)
Commitment And Contingencies - Lease Term And Discount Rate (Details)
Commitment And Contingencies - Maturity Of Lease Liabilities (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Leases (Details)
Discontinued Operations
Discontinued Operations (Details)
Discontinued Operations (Tables)
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)
Employee Benefit Plans
Employee Benefit Plans (Tables)
Employee Benefit Plans - Defined Benefit Plans (Details)
Employee Benefit Plans - Fair Value Measurements (Details)
Employee Benefit Plans - Net Periodic Benefit Cost And General Information (Details)
Employee Benefit Plans - Workers' Compensation And Related Losses (Details)
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)
Inventories (Details)
Inventories (Tables)
Inventories, Net
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)
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)
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 And Pension (Details)
Summary Of Accounting Policies - Machinery And Equipment (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: 0000790051-21-000080
Submitted to the SEC: Thu Feb 11 2021 4:12:02 PM EST
Accepted by the SEC: Thu Feb 11 2021
Period: Thursday, December 31, 2020
Industry: Fabricated Rubber Products

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