NYSE$CSL

Carlisle Companies Incorporated · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

Carlisle reported record fourth-quarter performance, driven by strong demand in North American non-residential roofing markets.

Carlisle Companies reported a 6.2% increase in revenue to $1.14 billion and a 23.3% increase in operating income to $141.3 million in the fourth quarter of 2019. Diluted EPS was reported as $1.81. The company's performance was driven by strong demand in North American non-residential roofing markets, raw material savings, contributions from the Carlisle Operating System (COS), and acquisitions.

  • Delivered record fourth quarter sales, operating income and diluted EPS.
  • Operating income increased 23.3% year-over-year.
  • Organic revenue was flat, with acquired revenues contributing 6.4%.
  • Repurchased approximately 1 million shares for $150 million.

Headline financials

Total Revenue

$1.14B

Previous: $1.08B+6.2%
EPS (adj)

$1.81

Previous: $1.58+14.6%
Capital Expenditures

$32.3M

Previous: $24.6M+31.3%
Free Cash Flow

$181M

Previous: $212M-14.5%
Net Income

$103M

Previous: $88.1M+16.5%
Operating Income

$141M

Previous: $115M+23.3%
Gross Profit

$309M

Previous: $279M+10.7%
Cash & Equivalents

$351M

Previous: $804M-56.3%
Total Assets

$5.5B

Previous: $5.25B+4.7%
Stock-Based Comp

$6.9M

Previous: $6.1M+13.1%

Revenue & EPS history

Carlisle · Revenue · Quarterly

$1.14B

Q4 2019+6.2%vs Q4 2018
Beat estimate in 15 of 16 quarters(94%)
ActualEstimate

Revenue by segment

Carlisle · $993M total across 2 segments · Q4 2019

  • Carlisle Construction Materials
    $754M+11.4%
  • Carlisle Weatherproofing Technologies
    $239M+3.3%

Forward guidance

The company expects to achieve mid-single digit revenue growth in 2020.

Tailwinds

  • Optimistic about the North American non-residential markets.
  • Emerging Medical Technologies platform.
  • Anticipate a return to normalcy at our largest North American aerospace customer.
  • Continue to deploy capital for strategic acquisitions
  • Opportunistic share repurchases.

Headwinds

  • Still dealing with the effects of the China trade negotiations
  • Continued industrial production recession
  • Geopolitical and economic uncertainties

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2019

Historical avgQ4 2019

+1.0%

Avg return

Earnings day

+1.6%

Avg return

5 days after

+2.8%

Avg return

30 days after

62%

42 / 68 earnings

Positive

+13.0%

Q1 2010

Best reaction

-14.4%

Q3 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+3.0%-4.7%-8.3%
Q4 2025+11.1%+12.9%-0.4%
Q3 2025-1.6%-1.3%-4.0%
Q1 2025+6.0%+5.4%+7.5%
Q4 2024-8.9%-5.8%-10.7%
Q3 2024-9.1%-8.7%-2.0%
Q2 2024+1.0%-2.5%-4.6%
Q1 2024+6.7%+3.5%+14.0%
Q4 2023+8.7%+10.0%+16.2%
Q3 2023+4.9%+7.1%+16.3%
Q2 2023+3.0%+3.1%-3.5%
Q1 2023+1.5%-0.3%+2.0%
Q4 2022+1.8%+3.6%+3.6%
Q3 2022-14.4%-15.2%-7.7%
Q2 2022+6.9%+9.1%+13.3%
Q1 2022+6.2%+8.9%+3.8%
Q4 2021+0.1%+3.7%+1.4%
Q3 2021+4.5%+5.5%+9.3%
Q2 2021+0.9%+0.8%+4.4%
Q1 2021+6.3%+8.0%+7.8%
Q4 2020+0.3%-2.2%-0.2%
Q3 2020-1.0%+5.0%+17.8%
Q2 2020+0.4%-1.5%+2.4%
Q1 2020-2.2%-3.7%-4.8%
Q4 2019-0.0%-1.7%-11.4%
Q3 2019+6.3%+6.5%+7.9%
Q2 2019+7.6%+9.4%+8.5%
Q1 2019+9.0%+10.4%+5.8%
Q4 2018+6.2%+6.5%+8.1%
Q3 2018-8.9%-7.7%+0.5%
Q2 2018+8.3%+8.6%+12.7%
Q1 2018+5.2%+5.4%+5.0%
Q4 2017-2.8%-4.7%-3.1%
Q3 2017+6.0%+6.4%+6.0%
Q2 2017-2.6%-2.0%-6.5%
Q1 2017-7.2%-7.9%-6.5%
Q4 2016-2.4%-2.6%-1.0%
Q3 2016-3.5%-2.4%+8.6%
Q2 2016-2.5%-2.3%-0.3%
Q1 2016+3.3%
Q4 2015+4.0%
Q3 2015-6.0%
Q2 2015-1.2%
Q1 2015+4.9%
Q4 2014+3.8%
Q3 2014+5.6%
Q2 2014-2.3%
Q1 2014+4.8%
Q4 2013+5.9%
Q3 2013+0.5%
Q2 2013+2.6%
Q1 2013-2.4%
Q4 2012+3.1%
Q3 2012+5.9%
Q2 2012-3.2%
Q1 2012+1.3%
Q4 2011-0.9%
Q3 2011+5.2%
Q2 2011-10.0%
Q1 2010+13.0%
Q1 2011+3.3%
Q4 2008+4.4%
Q4 2010+4.4%
Q3 2010-1.1%
Q3 2009-1.1%
Q4 2009-12.5%
Q2 2010-12.5%
Q2 2009-12.5%

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