Carlisle Companies, Inc. - CSL STOCK NEWS

Carlisle Companies (NYSE:CSL) reported strong Q2 2024 results, with diluted EPS of $5.94 and adjusted EPS of $6.24, up 33% year-over-year. Revenue increased 11% to $1.5 billion, driven by strong performance in the Construction Materials (CCM) and Weatherproofing Technologies (CWT) segments. The company achieved record operating margin of 26.0% and adjusted EBITDA margin of 28.8%.

Carlisle completed the sale of its Interconnect Technologies business for $2.025 billion, finalizing its pivot to a pure-play building products company. The company also acquired MTL for $410 million, expanding its presence in the architectural metal category. Based on strong performance and positive market dynamics, Carlisle raised its 2024 outlook to approximately 12% revenue growth and 150 basis points of adjusted EBITDA margin expansion.

Carlisle Companies Incorporated (NYSE:CSL) has announced several leadership changes in its finance organization, effective August 1, 2024. The changes include:

• John Calogero becoming Senior VP of Special Projects for Carlisle Construction Materials (CCM)
• Stephen Aldrich promoted to CFO of CCM
• Andrew Easton named VP and Chief Accounting Officer
• Cory Walter promoted to VP of Internal Audit

These changes aim to strengthen and enhance the global finance team, leveraging deep experience and a track record of success. The announcement highlights the company's commitment to developing top finance talent and providing growth opportunities within the organization.

Carlisle Companies (NYSE:CSL) has published its 2023 Corporate Sustainability Report, detailing their progress on sustainability goals through a three-pillar strategy and the Carlisle Operating System. Key achievements include generating over $3.2 billion in revenue from energy-efficient products, which constitutes 70% of the company's revenues. Carlisle also significantly reduced its Scope 1 & 2 emissions by over 21% and Scope 3 emissions by over 12% from the 2021 base year. Additionally, Carlisle surpassed its initial goal of diverting 1 million tons of landfill waste through recycling efforts and has set a new target of 2 million tons by 2030. Further details are available on Carlisle's official website.

Carlisle Companies (NYSE: CSL) will release its Q2 2024 results on July 24, 2024, after market close, followed by a conference call at 5pm ET. The call can be accessed via webcast or telephone. Carlisle is a significant player in the building envelope products sector, focusing on energy efficiency through its Carlisle Construction Materials (CCM) and Carlisle Weatherproofing Technologies (CWT) divisions. The company is committed to superior shareholder returns, strategic acquisitions, share repurchases, and dividend increases. Carlisle aims to achieve net-zero greenhouse gas emissions by 2050.

Amphenol (NYSE: APH) has finalized the acquisition of the Carlisle Interconnect Technologies (CIT) business from Carlisle Companies Incorporated (NYSE: CSL). This acquisition aims to enhance Amphenol's offerings in engineered interconnect solutions for harsh environments, targeting commercial air, defense, and industrial markets. The CIT business is projected to contribute $900 million in sales and a 20% adjusted EBITDA margin for the full year 2024. Additionally, the acquisition is expected to increase Amphenol's 2024 earnings per share by approximately $0.02, excluding acquisition-related costs. This figure will adjust to $0.01 per share following the company's recently announced 2-for-1 stock split.

Carlisle Companies (NYSE: CSL) has announced the completion of the sale of Carlisle Interconnect Technologies (CIT) to Amphenol (NYSE: APH). Carlisle is known for its innovative building products and solutions aimed at energy efficiency. The company operates through its main divisions, Carlisle Construction Materials (CCM) and Carlisle Weatherproofing Technologies (CWT). Carlisle emphasizes shareholder returns through balanced capital deployment, strategic acquisitions, share repurchases, and dividend increases. Additionally, the company aims to achieve net-zero greenhouse gas emissions by 2050.

Carlisle Companies Incorporated (NYSE: CSL) has elected Robin J. Adams as the new Lead Independent Director, succeeding Gregg A. Ostrander. Adams, a Director since 2009, brings extensive experience in industrial business attributes and corporate governance. The company remains focused on its Vision 2030 strategies under Adams' leadership.

Carlisle Companies Incorporated (NYSE:CSL) plans to invest over $45 million to expand its Research & Innovation Center in Carlisle, Pennsylvania. The expansion aims to accelerate new product development, increase annual revenue, and align with Carlisle's Vision 2030 strategy. The center will add 50,000 sq ft of lab space, work areas, and equipment stations, doubling the current research space. The investment reflects a commitment to growth, innovation, and sustainability.

Carlisle Companies Incorporated (NYSE:CSL) has completed the acquisition of MTL Holdings for $410 million in cash. MTL is a leading provider of prefabricated metal systems and architectural wall panels for commercial, institutional, and industrial buildings. The acquisition aligns with Carlisle's Vision 2030 strategy and focus on building products, innovation, talent retention, and sustainability.