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Mar 31, 2020
Carlisle Q1 2020 Earnings Report
Carlisle's financial performance declined due to COVID-19 impact, while maintaining a strong financial position.
Key Takeaways
Carlisle Companies reported a decrease in revenue and operating income for the first quarter of 2020, primarily due to the impact of the COVID-19 pandemic. The company is implementing cost management measures and remains focused on its Vision 2025 strategic plan. Despite the challenges, Carlisle maintains a strong balance sheet and liquidity.
Revenue decreased by (3.9)% to $1.03 billion compared to Q1 2019.
Operating income decreased by (10.5)% to $102.7 million compared to Q1 2019.
Diluted earnings per share from continuing operations was $1.09.
The company withdrew full-year 2020 revenue guidance due to economic uncertainty caused by COVID-19.
Revenue by Segment
Forward Guidance
Due to current economic uncertainty caused by COVID-19, Carlisle has withdrawn its full-year 2020 revenue guidance.
Positive Outlook
- CCM is positioned to perform well given the need for infrastructure maintenance and a strong industry backlog.
- CCM is benefiting from lower input costs and a highly variable manufacturing cost structure.
- CIT has an opportunity to accelerate restructuring actions.
- CIT supplies components to customers making critical medical equipment to combat COVID-19, improving its end market mix.
- Carlisle continues to evaluate opportunities to deploy capital into strategic and synergistic acquisitions.
Challenges Ahead
- Potentially prolonged declines in customer demand are negatively impacting operations.
- Declines in customer demand are decreasing sales.
- Declines in customer demand are increasing operating costs.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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