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

Carlisle Companies Inc

CIK: 790051 Ticker: CSL

Exhibit 99.1


Carlisle Companies Reports Third Quarter 2021 Results

SCOTTSDALE, ARIZONA, October 21, 2021 - Carlisle Companies Incorporated (NYSE:CSL) today announced its third quarter 2021 financial results.

Generated record third quarter revenue of $1.3 billion, up 19.4% organically year-over-year
Reported third quarter diluted EPS of $2.12; adjusted diluted EPS of $2.99, a 27% increase from prior year
Strong volume growth and solid price realization leveraging the Carlisle Experience more than offset increased supply chain costs and weather-related impacts during the quarter
Completed purchase of Henry Company for $1.575 billion, with integration accelerating and initial results tracking to expectations
Issued $850 million of senior notes at a weighted average coupon of 1.6%

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

"As we exited the third quarter, the impact of the COVID-19 pandemic appears to be past its summer and early autumn peak. This trend, combined with improvements in our supply chain and positive movement towards a resumption of passenger air travel approaching pre-pandemic levels, is driving increased optimism about our ability to deliver continued strong results. We have also seen strong demand in our Building Products markets. Along with a steadily growing backlog across all three of Carlisle's segments, we are increasingly positive entering the fourth quarter and 2022. Nonetheless, within the third quarter of 2021, our teams faced a very challenging operating environment, given difficult supply chain and labor conditions, as well the impact of Hurricane Ida. Despite these challenges, I am proud to report Carlisle's employees again displayed their resilience in delivering record results, all the while doing so with strict adherence to the same health and safety protocols and precautions that have been in place throughout the pandemic, extending Carlisle's excellent safety record.

Vision 2025 continues to provide clarity of mission and a consistent direction for our entire organization. We have stayed the course and maintain confidence in our ability to execute on our strategies, despite the challenges throughout the COVID pandemic. Vision 2025 focuses our continuous improvement culture on providing our customers with innovative products of the best quality at the right place, at the right time. Ensuring the highest level of communication, transparency and service is embodied in what we call the Carlisle Experience, which we are committed to delivering to all our channel partners.

As introduced in Vision 2025, we committed to a leaner, more focused portfolio and a pivot towards investing in our highest-returning businesses, particularly Carlisle Construction Materials (CCM). This commitment was further evidenced in the third quarter by our divestiture of Brake & Friction, while CCM's outstanding performance affirmed that our conviction is correct. CCM's best-in-class team delivered record third quarter revenues in an extremely difficult operating environment. In anticipation of solid construction market demand in 2021, we ensured that our employees stood ready to produce; communicated clearly with our channel partners about our raw material requirements; built inventory; increased capacity; and remained steadfast in applying the Carlisle Operating System (COS) to drive efficiencies across CCM. We will maintain our pricing discipline in the marketplace, capturing the full value of the Carlisle Experience, which reflects our unyielding commitment to servicing the increasingly complex needs of our customers.

CCM continues to benefit from a growing backlog fueled by the strong re-roofing cycle in the United States, an ever-increasing emphasis on the energy-efficiency of buildings, and our investments in expansion of our presence in the Building Envelope. Our increasing focus on Building Products is exemplified by our recent acquisition of Henry, which delivered excellent results in its first month with Carlisle, and where integration thus far has been smooth. As the integration has progressed, we have become more appreciative of Henry's seasoned management team, which is executing on all fronts, and already proving to be a great addition to Carlisle.

The following information was filed by Carlisle Companies Inc (CSL) on Thursday, October 21, 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 (Details)
Acquisitions (Tables)
Acquisitions - Assets Acquired And Liabilities Assumed (Details)
Acquisitions - Pro Forma Information (Details)
Basis Of Presentation
Basis Of Presentation (Policies)
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)

Material Contracts, Statements, Certifications & more

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

Ticker: CSL
CIK: 790051
Form Type: 10-Q Quarterly Report
Accession Number: 0000790051-21-000233
Submitted to the SEC: Tue Oct 26 2021 3:01:22 PM EST
Accepted by the SEC: Tue Oct 26 2021
Period: Thursday, September 30, 2021
Industry: Fabricated Rubber Products

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