We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Carlisle Q4 Earnings Miss, Construction Materials Sales Up Y/Y
Read MoreHide Full Article
Carlisle Companies Incorporated (CSL - Free Report) reported fourth-quarter 2024 adjusted earnings of $4.47 per share, which missed the Zacks Consensus Estimate of $4.48. However, the bottom line increased 7% year over year.
Carlisle’s total revenues of $1.12 billion missed the consensus estimate of $1.15 billion. The top line decreased 0.4% year over year.
For 2024, CSL reported net revenues of $5 billion, which increased 9.1% year over year. For the year, the company’s adjusted earnings were $20.20 per share, up 30.2% year over year.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
CSL's Segmental Discussion
Carlisle has divested its Carlisle Interconnect Technologies segment. The company now reports under the following two segments.
Revenues from the Carlisle Construction Materials segment increased 2.2% year over year to $856.3 million. Our estimate for segmental revenues was $856.3 million. Organic revenues increased 1.8%, driven by strong re-roofing activity. Adjusted EBITDA of $245 million decreased 4% year over year.
Revenues from the Carlisle Weatherproofing Technologies segment decreased 7% year over year to $289 million, due to soft residential end markets and lower pricing in select product categories. Our estimate for segmental revenues was $304.9 million. Organic revenues slipped 8%. Adjusted EBITDA of $53 million declined 24% year over year.
Carlisle Companies Incorporated Price, Consensus and EPS Surprise
Carlisle’s cost of sales increased 1.4% year over year to $717.4 million. Selling and administrative expenses increased 11% to $174.9 million. Research and development expenses totaled $8.8 million, up 10% year over year.
CSL recorded an operating income of $224.0 million, down 11.7% year over year. The operating margin decreased 260 basis points to 19.9% from 22.5% in the year-ago quarter. Our estimate for the operating margin was pegged at 17.8%.
Carlisle’s Balance Sheet and Cash Flow
At the end of the fourth quarter, Carlisle had cash and cash equivalents of $753.5 million compared with $576.7 million at the end of 2023. Long-term debt (including the current portion) was $1.89 billion compared with $2.29 billion reported at the end of 2023.
In 2024, CSL generated net cash of $1.03 billion from operating activities compared with $1.02 billion in the year-ago period.
In the same period, CSL rewarded its shareholders with a dividend payment of $172.4 million, up 7.6% year over year. The company bought back shares worth $1.59 billion, up 76.2% year over year.
CSL’s Outlook
Management expects revenues to witness a mid-single-digit increase in 2025. It anticipates to deliver earnings growth of more than 10% on a year-over-year basis. Adjusted EBITDA margin is expected to expand approximately 50 bps. The free cash flow margin is anticipated to be more than 15%.
RTX Corporation’s (RTX - Free Report) fourth-quarter 2024 adjusted earnings per share (EPS) of $1.54 beat the Zacks Consensus Estimate of $1.37 by 12.4%. The bottom line also improved 19.4% from the year-ago quarter’s level of $1.29 per share.
RTX’s sales totaled $21.62 billion, which surpassed the consensus estimate of $20.56 billion by 5.2%. The top line also surged a solid 8.5% from $19.93 billion recorded in the fourth quarter of 2023.
Lockheed Martin Corporation (LMT - Free Report) reported fourth-quarter 2024 adjusted earnings of $7.67 per share, which beat the Zacks Consensus Estimate of $6.60 by 16.2%. The bottom line slipped 0.4% from the year-ago quarter's adjusted figure of $7.70 per share.
Net sales were $18.62 billion, which missed the consensus estimate of $18.85 billion by 1.2%. The top line also dropped 1.3% from $18.87 billion reported in the year-ago quarter.
The Boeing Company (BA - Free Report) incurred an adjusted loss of $5.90 per share in the fourth quarter of 2024, wider than the Zacks Consensus Estimate of a loss of $3.22 per share. The bottom line deteriorated from the year-ago quarter’s reported loss of 47 cents per share.
Revenues amounted to $15.24 billion, which beat the consensus estimate of $15.19 billion by 0.4%. The top line also decreased 31% from the year-ago quarter’s figure of $22.02 billion.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Carlisle Q4 Earnings Miss, Construction Materials Sales Up Y/Y
Carlisle Companies Incorporated (CSL - Free Report) reported fourth-quarter 2024 adjusted earnings of $4.47 per share, which missed the Zacks Consensus Estimate of $4.48. However, the bottom line increased 7% year over year.
Carlisle’s total revenues of $1.12 billion missed the consensus estimate of $1.15 billion. The top line decreased 0.4% year over year.
For 2024, CSL reported net revenues of $5 billion, which increased 9.1% year over year. For the year, the company’s adjusted earnings were $20.20 per share, up 30.2% year over year.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
CSL's Segmental Discussion
Carlisle has divested its Carlisle Interconnect Technologies segment. The company now reports under the following two segments.
Revenues from the Carlisle Construction Materials segment increased 2.2% year over year to $856.3 million. Our estimate for segmental revenues was $856.3 million. Organic revenues increased 1.8%, driven by strong re-roofing activity. Adjusted EBITDA of $245 million decreased 4% year over year.
Revenues from the Carlisle Weatherproofing Technologies segment decreased 7% year over year to $289 million, due to soft residential end markets and lower pricing in select product categories. Our estimate for segmental revenues was $304.9 million. Organic revenues slipped 8%. Adjusted EBITDA of $53 million declined 24% year over year.
Carlisle Companies Incorporated Price, Consensus and EPS Surprise
Carlisle Companies Incorporated price-consensus-eps-surprise-chart | Carlisle Companies Incorporated Quote
CSL’s Margin Profile
Carlisle’s cost of sales increased 1.4% year over year to $717.4 million. Selling and administrative expenses increased 11% to $174.9 million. Research and development expenses totaled $8.8 million, up 10% year over year.
CSL recorded an operating income of $224.0 million, down 11.7% year over year. The operating margin decreased 260 basis points to 19.9% from 22.5% in the year-ago quarter. Our estimate for the operating margin was pegged at 17.8%.
Carlisle’s Balance Sheet and Cash Flow
At the end of the fourth quarter, Carlisle had cash and cash equivalents of $753.5 million compared with $576.7 million at the end of 2023. Long-term debt (including the current portion) was $1.89 billion compared with $2.29 billion reported at the end of 2023.
In 2024, CSL generated net cash of $1.03 billion from operating activities compared with $1.02 billion in the year-ago period.
In the same period, CSL rewarded its shareholders with a dividend payment of $172.4 million, up 7.6% year over year. The company bought back shares worth $1.59 billion, up 76.2% year over year.
CSL’s Outlook
Management expects revenues to witness a mid-single-digit increase in 2025. It anticipates to deliver earnings growth of more than 10% on a year-over-year basis. Adjusted EBITDA margin is expected to expand approximately 50 bps. The free cash flow margin is anticipated to be more than 15%.
CSL’s Zacks Rank
The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Companies
RTX Corporation’s (RTX - Free Report) fourth-quarter 2024 adjusted earnings per share (EPS) of $1.54 beat the Zacks Consensus Estimate of $1.37 by 12.4%. The bottom line also improved 19.4% from the year-ago quarter’s level of $1.29 per share.
RTX’s sales totaled $21.62 billion, which surpassed the consensus estimate of $20.56 billion by 5.2%. The top line also surged a solid 8.5% from $19.93 billion recorded in the fourth quarter of 2023.
Lockheed Martin Corporation (LMT - Free Report) reported fourth-quarter 2024 adjusted earnings of $7.67 per share, which beat the Zacks Consensus Estimate of $6.60 by 16.2%. The bottom line slipped 0.4% from the year-ago quarter's adjusted figure of $7.70 per share.
Net sales were $18.62 billion, which missed the consensus estimate of $18.85 billion by 1.2%. The top line also dropped 1.3% from $18.87 billion reported in the year-ago quarter.
The Boeing Company (BA - Free Report) incurred an adjusted loss of $5.90 per share in the fourth quarter of 2024, wider than the Zacks Consensus Estimate of a loss of $3.22 per share. The bottom line deteriorated from the year-ago quarter’s reported loss of 47 cents per share.
Revenues amounted to $15.24 billion, which beat the consensus estimate of $15.19 billion by 0.4%. The top line also decreased 31% from the year-ago quarter’s figure of $22.02 billion.