logo
Share SHARE
FONT-SIZE Plus   Neg

Carlisle Companies Q1 Results Breeze Past Estimates - Quick Facts

Construction materials supplier Carlisle Companies Inc. (CSL) said Tuesday its first-quarter profit surged from a year ago, driven by strong sales performance across segments, increased selling prices and savings from the Carlisle Operating System. Both earnings and revenues surpassed analysts' estimates by a wide margin.

First-quarter income from continuing operations rose 80 percent to $60 million, or $0.94 per share, compared with $33.3 million, or $0.53 per share, last year.

On average, six analysts polled by Thomson Reuters were expecting earnings of just $0.61 per share. Analysts' estimates typically exclude one-time items.

Net sales from continuing operations rose 28 percent to $889.3 million from last year's $693.6 million, with organic sales growth of 22 percent. Analysts expected revenues of $793.5 million.

David Roberts, Chairman, President and Chief Executive Officer, said, "Our focus on investing in higher margin businesses and generating efficiencies through the Carlisle Operating System has resulted in an outstanding start to 2012."

Looking ahead, Roberts said, "Our strong first quarter results reflect the actions we've taken to focus on growth in higher margin businesses, moving us closer to our long term goals of $5 billion in revenue, 30% global sales, 15% margin, 15% working capital as a percent of sales and 15% ROIC."

The company expects 2012 sales growth in the mid-teens, including acquisitions, and continued margin improvement over last year.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Everyone knows that the Federal Reserve will raise interest rates next Wednesday at the conclusion of its two-day policy meeting. After all, Fed speakers have been jawboning a rate hike over the past few weeks. With the markets reacting with eerie calm to Donald Trump's win, policy makers have no... GOP strategist Karl Rove has criticized U.S. President-elect Donald Trump's comments on aircraft maker Boeing Co.'s contract for a new Air Force One plane, saying they were inaccurate and de-stabled the stock of a major company. Air Force One is the official air plane for the U.S. President. Elon Musk's space transport company SpaceX has lost a satellite launch order from one of its customers due to the delay in its rocket launch schedule after one of its rockets exploded in September.
comments powered by Disqus
Follow RTT