Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Carlisle Companies Q1 Results Breeze Past Estimates - Quick Facts

RELATED NEWS
Trade CSL now with 

Construction materials supplier Carlisle Companies Inc. (CSL: Quote) 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.

Register
To receive FREE breaking news email alerts for Carlisle Companies Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
After moving modestly higher in morning trading, stocks showed a substantial move to the downside over the course of the trading day on Wednesday. The major averages pulled back well off their highs for the session, sliding firmly into negative territory. Ebola "czar" Ron Kain is scheduled to meet with President Barack Obama on Wednesday as he begins his efforts to coordinate the government's response to the deadly disease. Klain, who previously served as chief of staff to Vice President Joe Biden and then-Vice President Al Gore, was named as Ebola Response Coordinator last Friday. Potentially complicating the outlook for control of the Senate, the results of a SurveyUSA poll conducted for WXIA-TV in Atlanta suggest that the Georgia Senate race between Republican David Perdue and Democrat Michelle Nunn could be headed for a runoff.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.