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Carlisle Companies Inc (CSL) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, June 30, 2021

Carlisle Companies Inc

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CIK: 790051 Ticker: CSL

Exhibit 99.1
PRESS RELEASE
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7/22/21

Carlisle Companies Reports Second Quarter Earnings

SCOTTSDALE, ARIZONA, July 22, 2021 - Carlisle Companies Incorporated (NYSE:CSL) today announced its second quarter 2021 financial results.

•Reported consolidated second quarter revenue of $1.2 billion, up 22% from second quarter 2020
•Delivered second quarter diluted EPS of $1.77; adjusted diluted EPS of $2.16
•Repurchased 643 thousand shares for $116 million, 1.6 million shares for $266 million YTD
•Strong volume leverage at CCM and continued price discipline delivered second quarter margin expansion year-over-year
•Signed a definitive agreement to acquire Henry Company for $1.575 billion

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

"I am pleased that Carlisle's performance continues to strengthen as we accelerate into the recovery. Given our adherence to strict safety measures across our global footprint, I am happy to report Carlisle's COVID-19 related infection rates approached zero in the second quarter. Over a year removed from the pandemic's initial impact, we are well positioned to meet Carlisle's center-led Vision 2025 objectives, supported by confidence in the fundamentals of our businesses, positive long-term trends, and a commitment to providing our customers superior service through the Carlisle Experience.

I am also excited by our recently announced agreement to acquire Henry Company, a best-in-class provider of building envelope systems that control the flow of water, vapor and energy to optimize building sustainability. Henry also will augment CCM’s growth and innovation efforts in commercial construction and increase its presence in residential construction in North America. Henry generated revenue of $511 million and adjusted EBITDA of $119 million, representing an adjusted EBITDA margin of 23%, for the twelve months ended May 31, 2021.

We also continue to deliver on our Vision 2025, center-led strategies. As a reminder, Vision 2025 provides clear direction and consistency of mission to guide our efforts to deliver in excess of $15 of earnings per share. A few highlights of the second quarter of 2021 include:

•On April 20th, Carlisle announced plans to invest more than $60 million to build a state-of-the-art facility in Sikeston, Missouri where CCM will manufacture energy-efficient polyiso insulation.
•On May 25th, consistent with our portfolio optimization strategy, we announced an agreement to sell Carlisle Brake & Friction (CBF) to CentroMotion for the opportunity to receive $375 million.
•On June 2nd, we announced that construction has begun on CCM's sixth TPO manufacturing line, which will produce the commercial roofing industry’s first 16-foot-wide TPO membranes.
•We continue to take a disciplined approach to pricing across our businesses, realizing the full value of our products through the Carlisle Experience. These efforts were supported by our purchasing teams, which both ensured supply in the current constrained environment, and optimized our input costs.
•Our ESG efforts continue to gain momentum. In April, we published our 2020 Sustainability Report. We also are making solid progress gathering data to set energy consumption and GHG reduction targets.
•We achieved gross savings, benefits and cost avoidance of 1% as a percent of sales through the Carlisle Operating System, within our 1-2% targeted range.
•Finally, we remained disciplined and opportunistic in our capital deployment strategy. In the quarter, we repurchased 643 thousand shares for $116 million, bringing our year-to-date total to 1.6 million shares for $266 million. We also returned $28 million to shareholders in the form of dividends.

CCM's performance continues to confirm our conviction that Carlisle's strategic pivot to our highest-returning business is the correct path. Carlisle's positive second quarter results were driven by CCM, which continues to

The following information was filed by Carlisle Companies Inc (CSL) on Thursday, July 22, 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-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
Discontinued Operations
Discontinued Operations (Details)
Discontinued Operations (Tables)
Discontinued Operations - Balance Sheet (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)
Employee Benefit Plans
Employee Benefit Plans (Details)
Employee Benefit Plans (Tables)
Exit And Disposal And Other Restructuring Activities
Exit And Disposal And Other Restructuring Activities (Details)
Exit And Disposal And Other Restructuring Activities (Tables)
Exit And Disposal And Other Restructuring Activities - Components Of Exit And Disposal Activities (Details)
Exit And Disposal And Other Restructuring Activities - Exit And Disposal Activity Liability (Details)
Financial Instruments
Financial Instruments (Details)
Financial Instruments (Tables)
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)
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)
Subsequent Events
Subsequent Events (Details)

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: 0000790051-21-000175
Submitted to the SEC: Tue Jul 27 2021 2:08:50 PM EST
Accepted by the SEC: Tue Jul 27 2021
Period: Wednesday, June 30, 2021
Industry: Fabricated Rubber Products

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