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Dec 31, 2022
Carlisle Q4 2022 Earnings Report
Reported record results driven by strong performance across segments and strategic initiatives.
Key Takeaways
Carlisle Companies reported record fourth-quarter results with revenue reaching $1.5 billion, a 5.7% increase year-over-year. GAAP diluted EPS was $3.44, and adjusted diluted EPS was $3.92, representing a 34% increase. The company repurchased 770 thousand shares for $199 million during the quarter and announced a commitment to achieve Net-Zero greenhouse gas emissions by 2050.
Revenue increased by 5.7% year-over-year, reaching $1.5 billion.
GAAP Diluted EPS increased to $3.44, and Adjusted Diluted EPS increased to $3.92.
Operating income increased 31.3% from Q4 2021.
The company repurchased 770 thousand shares for $199 million.
Carlisle
Carlisle
Carlisle Revenue by Segment
Revenue by Segment
CCM Revenue
CapyFin.comCWT Revenue
CapyFin.com Forward Guidance
The company expects full year 2023 sales to increase low-single-digits year-over-year for CCM, decrease low-double-digits year-over-year for CWT, and increase high-single-digits year-over-year for CIT and CFT.
Positive Outlook
- Expect full year 2023 sales to increase low-single-digits year-over-year for CCM.
- Expect full year 2023 sales to increase high-single-digits year-over-year for CIT.
- Expect full year 2023 sales to increase high-single-digits year-over-year for CFT.
- Commercial re-roofing demand continues, including significant interest and activity in Carlisle's sustainable building solutions driven by rising energy costs, sustainability trends and projected investment from the Inflation Reduction Act.
- Pricing remained consistently positive across segments as we continue to demonstrate our value to our customers.
Challenges Ahead
- Normalization is occurring during our seasonally soft fourth and first quarters that can be heavily influenced by inclement weather
- Expect full year 2023 sales to decrease low-double-digits year-over-year for CWT.
- Volumes in residential-related businesses negatively impacted adjusted EBITDA margin.
- Unfavorable mix negatively impacted adjusted EBITDA margin.
- Raw material, freight and wage inflation negatively impacted adjusted EBITDA margin.
Revenue & Expenses
Visualization of income flow from segment revenue to net income