"Mixed Q3 Results Unveiled by Carlisle Companies, Outlook Remains Positive"

Carlisle Companies Incorporated (NYSE:CSL) announced its third-quarter results for 2024, presenting a mixed picture compared to analyst expectations; earnings were slightly below projections, while revenue showed year-over-year growth. Despite some challenges, the company maintained a positive outlook for the fourth quarter.

Carlisle reported an adjusted earnings per share of $5.78, falling $0.05 short of the analyst consensus of $5.83. Revenue reached $1.3 billion, marking a 5.9% increase year-over-year but falling short of the $1.38 billion consensus estimate.

The Carlisle Construction Materials (CCM) segment delivered a strong performance, with revenue rising 9% year-over-year to $998 million. CCM’s adjusted EBITDA margin expanded by 110 basis points to a record 32.8% in the third quarter.

However, the Carlisle Weatherproofing Technologies (CWT) segment faced difficulties, with revenue declining 3% year-over-year to $335 million due to weakness in housing markets.

Chairman, President, and CEO Chris Koch stated, "Carlisle once again delivered strong performance despite ongoing downturns in the housing markets and the known weather events and port strike issues."

For the fourth quarter of 2024, Carlisle expects overall revenue to grow at a low single-digit rate, with CCM predicted to see mid-single-digit growth, while CWT is anticipated to decrease at a low single-digit rate. The company forecasts an adjusted EBITDA margin of approximately 25% for the quarter.

During the third quarter, Carlisle repurchased 1.1 million shares for $466 million and increased its quarterly dividend by 18%. This marked the 48th consecutive annual dividend increase.