Thu, Jul 25, 8:32 PM (44 days ago)
Carlisle Companies Incorporated reported strong financial performance for Q2 2024. Revenues increased to $1,450.6 million, up 11% year-over-year, driven by higher sales in the non-residential construction market. Operating income rose 22.3% to $377.5 million, with an operating margin of 26%, up from 23.6%. The company's shift to a pure-play building products company was marked by the sale of Carlisle Interconnect Technologies (CIT), contributing a gain of $454.7 million. Adjusted EBITDA grew 20.2% to $417.6 million, with a margin of 28.8%. Cash flow from operations was $346.9 million, and the company returned $700 million to shareholders via stock repurchases and paid $81.7 million in dividends. Looking ahead, Carlisle expects continued growth driven by pent-up re-roofing demand and strategic acquisitions.