Carlisle Companies Q3 revenue rises, beats estimates on CCM growth

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

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.)