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
Internet access is growing worldwide, but there is still a long way to go before the entire world is completely wired, a study from the Pew Research Center has found. The study also noted that men have greater access to the Internet than women in many nations. Backtracking on its early announcements on digital privacy, WhatsApp is planning to share member information, phone numbers and analytical data with Facebook, to make revenue from the platform. Discount retailers Dollar Tree Inc. and Dollar General Corp. both reported results for the second quarter that missed analysts' expectations. Looking ahead, Dollar Tree also forecast revenue for the third quarter below analysts' estimates and lowered its full-year revenue outlook. Shares of both companies are falling in pre-market activity.
comments powered by Disqus
Follow RTT