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Carlisle
🇺🇸 NYSE:CSL
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OverviewEarningsDividends
•
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.

Total Revenue
$1.46B
Previous year: $1.38B
+5.7%
EPS
$3.92
Previous year: $2.92
+34.2%
Organic Revenue Growth
6.6%
Previous year: 26.4%
-75.0%
Gross Profit
$442M
Previous year: $391M
+13.2%
Cash and Equivalents
$400M
Previous year: $324M
+23.3%
Free Cash Flow
$365M
Previous year: $92.3M
+295.3%
Total Assets
$3.02B
Previous year: $2.93B
+3.3%

Carlisle

Carlisle

Carlisle Revenue by Segment

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

Company Overview

Full financial data and analysis

View Carlisle