Earnings release
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PRESS RELEASE VISION CARLISLE THE NEXT 100 YEARS 2025 10/21/21 Carlisle Companies Reports Third Quarter 2021 Results SCOTTSDALE , ARIZONA , October 21 , 2021 - Carlisle Companies Incorporated ( NYSE : CSL ) today announced its third quarter 2021 financial results . • • • • • Generated record third quarter revenue of $ 1.3 billion , up 19.4 % organically year - over - year Reported third quarter diluted EPS of $ 2.12 ; adjusted diluted EPS of $ 2.99 , a 27 % increase from prior year Strong volume growth and solid price realization leveraging the Carlisle Experience more than offset increased supply chain costs and weather - related impacts during the quarter Completed purchase of Henry Company for $ 1.575 billion , with integration accelerating and initial results tracking to expectations Issued $ 850 million of senior notes at a weighted average coupon of 1.6 % Comments from Chris Koch , Chairman , President and Chief Executive Officer " 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 . Along with a steadily growing backlog across all three of Carlisle's segments , we are increasingly positive entering the fourth quarter and 2022. Nonetheless , within the third quarter of 2021 , our teams faced a very challenging operating environment , given difficult supply chain and labor conditions , as well the impact of Hurricane Ida . Despite these challenges , I am proud to report Carlisle's employees again displayed their resilience in delivering record results , all the while doing so with strict adherence to the same health and safety protocols and precautions that have been in place throughout the pandemic , extending Carlisle's excellent safety record . Vision 2025 continues to provide clarity of mission and a consistent direction for our entire organization . We have stayed the course and maintain confidence in our ability to execute on our strategies , despite the challenges throughout the COVID pandemic . Vision 2025 focuses our continuous improvement culture on providing our customers with innovative products of the best quality at the right place , at the right time . Ensuring the highest level of communication , transparency and service is embodied in what we call the Carlisle Experience , which we are committed to delivering to all our channel partners . As introduced in Vision 2025 , we committed to a leaner , more focused portfolio and a pivot towards investing in our highest - returning businesses , particularly Carlisle Construction Materials ( CCM ) . This commitment was further evidenced in the third quarter by our divestiture of Brake & Friction , while CCM's outstanding performance affirmed that our conviction is correct . CCM's best - in - class team delivered record third quarter revenues in an extremely difficult operating environment . In anticipation of solid construction market demand in 2021 , we ensured that our employees stood ready to produce ; communicated clearly with our channel partners about our raw material requirements ; built inventory ; increased capacity ; and remained steadfast in applying the Carlisle Operating System ( COS ) to drive efficiencies across CCM . We will maintain our pricing discipline in the marketplace , capturing the full value of the Carlisle Experience , which reflects our unyielding commitment to servicing the increasingly complex needs of our customers . CCM continues to benefit from a growing backlog fueled by the strong re - roofing cycle in the United States , an ever- increasing emphasis on the energy - efficiency of buildings , and our investments in expansion of our presence in the Building Envelope . Our increasing focus on Building Products is exemplified by our recent acquisition of Henry , which delivered excellent results in its first month with Carlisle , and where integration thus far has been smooth . As the integration has progressed , we have become more appreciative of Henry's seasoned management team , which is executing on all fronts , and already proving to be a great addition to Carlisle .