Q3 2024 Carlisle Companies Inc Earnings Call Transcript
Key Points
- Carlisle Companies Inc (CSL) achieved record third-quarter results in both EBITDA margin and earnings per share, despite challenges in the residential market and weather-related disruptions.
- The company reported a 6% year-over-year sales growth, driven by strong reroofing demand and inventory normalization.
- Carlisle Companies Inc (CSL) expanded its adjusted EBITDA margin by 60 basis points year-over-year to 27.6%, highlighting effective cost management and operational efficiencies.
- The acquisition of MTL contributed positively to revenue growth and strategic expansion in the building envelope market.
- The company demonstrated strong capital allocation by repurchasing $1.1 million shares for $466 million and increasing dividends by 18%, reflecting a commitment to shareholder returns.
- Sales were negatively impacted by weakening residential markets and two major hurricanes, affecting overall revenue growth.
- Higher interest rates and affordability challenges led to a slowdown in new housing activity and repair and remodel segments.
- CWT segment revenues declined by 3% year-over-year, primarily due to softer residential end markets and strategic investments impacting short-term profitability.
- The company slightly lowered its full-year 2024 revenue growth outlook to 10%, reflecting ongoing challenges in residential markets and weather-related disruptions.
- Pricing pressure in the spray foam segment and broader residential market weakness contributed to a 14% decrease in CWT's adjusted EBITDA.
Good afternoon. My name is Nicole, and I will be your conference call operator for today. At this time, I would like to welcome everyone to the Carlisle Companies third quarter 2024 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, we will conduct a question and answer session. I would like to turn the call over to Mr. Mehul Patel, but those Carlisle's Vice President of Investor Relations. Mr. Mehul, please go ahead.
Thank you, and good afternoon, everyone. Welcome to Carlisle's Third Quarter 2024 earnings call. I Mehul Patel, Vice President of Investor Relations for Carlisle. We released our third quarter 2024 financial results today, and you can find both our press release and presentation for today's call in Investor Relations section of our website. On the call with me today are Chris Koch, our Board Chair, President and CEO, along with Kevin Campbell, our CFO.
Today's call will begin with Chris providing
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
