Published on 26 Apr 2024 on Zacks via Yahoo Finance

Carlisle (CSL) Q1 Earnings & Revenues Beat Estimates, Up Y/Y

Carlisle Companies CSL reported first-quarter 2024 adjusted earnings of $3.72 per share, which surpassed the Zacks Consensus Estimate of $2.74. The bottom line increased 85.1% year over year.Carlisle’s total revenues of $1.1 billion beat the consensus estimate of $0.99 billion. Also, the top line increased 22.8% year over year.

Segmental Discussion

Carlisle has divested its Carlisle Interconnect Technologies segment. The company now reports under the following two segments.Revenues from the Carlisle Construction Materials segment increased 36% year over year to $784 million. Organic revenues increased 35.9%, driven by growing re-roof activity and end-of-channel destocking. Adjusted EBITDA of $227 million increased 65.8% year over year.Revenues from the Carlisle Weatherproofing Technologies segment declined 1.2% year over year to $313 million due to lower pricing. Organic revenues slipped 2.5%. Our estimate for segmental revenues was $349.5 million. Adjusted EBITDA of $65 million jumped 20% year over year.