Carlisle Companies Inc (NYSE:CSL)
$ 437.74 -0.81 (-0.18%) Market Cap: 20.24 Bil Enterprise Value: 20.85 Bil PE Ratio: 15.47 PB Ratio: 6.76 GF Score: 90/100
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Q2 2024 Carlisle Companies Inc Earnings Call Transcript

Jul 24, 2024 / 09:00PM GMT
Release Date Price: $412.27 (-4.01%)

Key Points

Positve
  • Carlisle Companies Inc (CSL) reported double-digit sales growth of 11% year-over-year, reaching $1.5 billion.
  • Adjusted EPS increased by 33% to $6.24, reflecting strong operational performance.
  • The CCM segment delivered 15% revenue growth and a 220 basis point expansion in adjusted EBITDA margin.
  • The company completed the acquisition of MTL, which is expected to deliver $20 million in annual synergies by year three.
  • Carlisle Companies Inc (CSL) raised its full-year 2024 revenue growth outlook to approximately 12%, up from 10% previously.
Negative
  • Higher interest rates are negatively affecting homebuyer demand and repair and remodel activities in the residential markets.
  • CWT segment experienced a slight decline in organic sales, down approximately 1% year-over-year.
  • The company faced challenges in maintaining pricing power, with some segments experiencing lower pricing.
  • Inventory levels remain historically lean, which could impact service levels if demand surges unexpectedly.
  • The company noted ongoing affordability headwinds and changes in consumer spending patterns affecting the residential market.
Editor

(audio streaming in progress)

Operator

Thanks. Good afternoon, ladies and gentlemen, and welcome to the Carlisle Companies Second Quarter 2024 earnings conference call. At this time, all lines are in listen only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you require assistance, please press star zero for the operator. This call is being recorded on the 24th of July 2024. I would now like to turn the conference over to Mal Patel, Carlyle's Vice President of Investor Relations.

Mehul S. Patel
Carlisle Companies Incorporated - VP, IR

Thank you, and good afternoon, everyone. Welcome to Carlisle's Second Quarter 2020 for earnings up. I'm level but our Head of Investor Relations for Carlyle. We released our second quarter 2024 financial results today, and you can find both in our press release and presentation for today's call in Investor Relations section of our website.

On the call with me today are Chris Coke, our Board Chair, President and CEO, along

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