logo
Plus   Neg
Share
Email

Carlisle Companies Q1 Profit Beats Street View

Carlisle Companies Inc. (CSL) on Thursday posted first-quarter net income of $52.2 million or $0.97 per share, down from $61.8 million or $1.09 per share in the year-ago quarter.

Earnings were affected by lower operating results in the Carlisle Interconnect Technologies segment and higher corporate expenses, the company said.

Adjusted earnings per share fell 12 percent to $1.47 from $1.67 in the same period last year. On average, 8 analysts polled by Thomson Reuters expected the company to report earnings of $0.69 per share for the quarter.

Quarterly revenue of $1.03 billion was flat from a year ago, while 7 analysts expected the company to post revenues of $974.5 million for the period.

Commenting on the results, Chris Koch, Chairman, President and Chief Executive Officer, said, "Due to strength in our CCM, CFT, and CBF businesses, our consolidated first-quarter revenue was flat, while adjusted EPS declined year-over-year given lower profitability at CIT driven by the well-publicized impact of the COVID pandemic on the commercial aerospace industry. The first quarter of 2021 demonstrated yet again Carlisle's ability to navigate varying economic cycles while delivering strong financial performance."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Walmart has dropped the requirement of masks for customers and members who are fully vaccinated against COVID-19 while they are at the store. This is based on the latest guidance issued by the Centers for Disease Control and Prevention late last week. The retail giant also announced a cash bonus for all fully vaccinated associates. Amazon announced the launch of WorkingWell, a new comprehensive program providing employees with physical and mental activities, wellness exercises, and healthy eating support, across its U.S. Operations. The program has a number of components covering training and conditioning, wellness services, and technology. Each of WorkingWell's components were developed in collaboration with employees. The U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS has issued a public health alert for around 165 pounds of imported frozen Siluriformes products. The products were imported from Brazil, which is ineligible to export Siluriformes products to the United States.
RELATED NEWS
Follow RTT