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
Frozen Food Development is recalling specific lots of Lidl branded 12-ounce packages of Frozen Chopped Spinach citing the potential to be contaminated with Listeria monocytogenes, the U.S. Food and Drug Administration said. The product comes in 12-ounce poly bags, and items included in the recall are marked with lot # R17742 or R17963 on the back of the poly bag with a best by date of 09/10/23. Starbucks has dropped its vaccine or weekly test requirement against Covid-19 for U.S. employees in the wake of last week's U.S. Supreme Court ruling. The court, in a 6-3 vote, has blocked President Joe Biden's vaccine-or-test mandate for private companies with 100 or more employees. However, it allowed the vaccine mandate to stand for certain health care workers. Mylan Pharmaceuticals Inc., affiliated to healthcare company Viatris Inc., is recalling one batch of its non-interchangeable Semglee (insulin glargine injection), 100 units/ml (U-100), 3mL prefilled pens due to the potential for a missing label, the U.S. Food and Drug Administration said.
RELATED NEWS
Follow RTT