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Carlisle Companies Q3 revenue rises, beats estimates on CCM growth

By Reuters News


Overview

  • US building products supplier's Q3 revenue rose 9%, beating analyst expectations

  • Record Q3 adjusted EPS rose 6% year-over-year

  • Company raised quarterly dividend 14% and repurchased $350 mln in shares


Outlook

  • Carlisle sees Q4 revenue up high-single-digit percentage YoY

  • Carlisle expects Q4 adjusted EBITDA margin to be flat YoY

  • Company outlook does not assume near-term recovery in new construction markets


Result Drivers

  • STRATEGIC INITIATIVES - Co said Vision 2030 initiatives and business model helped CCM and CWT outpace market growth

  • RE-ROOFING DEMAND - Co cited steady re-roofing demand and aging building stock as key drivers for CCM segment

  • COST PRESSURES - Co said higher petroleum-derived input and freight costs outpaced pricing, impacting margins


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$1.46 bln

$1.42 bln (10 Analysts)

Q3 EPS

$5.22

Q3 Net Income

$208.10 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the construction supplies & fixtures peer group is "buy"

  • Wall Street's median 12-month price target for Carlisle Companies Incorporated is $403.17, about 15.7% above its October 27 closing price of $348.57

  • The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 16 three months ago


Reuters Recommended Reads

  • Oct 26 - Simpson Manufacturing Q3 sales beat estimates, aided by pricing actions

  • Oct 27 - Armstrong World Q3 revenue beat estimates on sales volume, higher pricing

  • Oct 27 - PPG Q3 revenue beats analyst estimates, led by aerospace, Latam coatings


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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