logo
  

Carlisle Group Q3 Profit Increases

Arizona-based industrial company Carlisle Companies Incorporated (CSL), Thursday reported an improved net income in the third quarter due to increased sales of construction materials.

Carlisle group posted a net income of $142.10 million or $2.67 earnings per share, up from $102.30 million or $1.87 earnings per share in the same quarter last year. Excluding special items, the income was $2.99 per share, up from $2.35 year-over-year. On average, eight analysts polled by Thomson Reuters forecast the earnings to be $2.75 for this quarter.

The revenue for the quarter was 24.5% higher at $1.31 billion, from $1.05 billion last year. The chief driving force in the boost was a 29.4% increase in the Carlisle Construction Materials (CCM) segment which earned $1.06 billion in the quarter due to higher roofing demands, favorable price, and the acquisition of Henry Company. Analysts' outlook for revenue was $1.27 billion.

Chris Koch, Chairman, President, and CEO of the company, said, "As we exited the third quarter, the impact of the COVID-19 pandemic appears to be past its summer and early autumn peak. This trend, combined with improvements in our supply chain and positive movement towards a resumption of passenger air travel approaching pre-pandemic levels, is driving increased optimism about our ability to deliver continued strong results. We have also seen strong demand in our Building Products markets."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Sandoz, Inc., an unit of Novartis AG, is recalling one lot of deep vein thrombosis (DVT) medication Enoxaparin Sodium in the form of injection for the potential exposure to high temperatures that may have impacted product effectiveness, the U.S. Food and Drug Administration or FDA said in a statement. Livia Global, Inc., a health and wellness company, is recalling two lots of its Liviaone liquid probiotics citing the possibility of contamination by Pseudomonas aeruginosa, the U.S. Food and Drug Administration said. Pseudomonas aeruginosa is a microorganism found in the environment that, if ingested, can cause life-threatening infection in immunocompromised individuals. United Airlines operated Thursday the first ever passenger flight using 100% Sustainable Aviation Fuel or SAF as part of its efforts to combat climate change. The airline flew the green flight from Chicago's O'Hare International Airport or ORD to Washington, D.C.'s Reagan National Airport or DCA with more than 100 passengers.
RELATED NEWS
Follow RTT