The following is a summary of the Carlisle Companies, Inc. (CSL) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Carlisle Companies reported Q1 sales of $1.1 billion, a 23% year-over-year increase, attributed to a return to normal ordering levels and recovery from previous destocking.

• The Construction Materials business saw significant growth, with year-over-year sales increasing by 36%.

• Adjusted EBITDA rose by over 50% year-over-year to $260 million, on account of improved margins across both Construction Materials and Carlisle WIP Technologies, and increased synergies from Henry integration.

• Adjusted EPS grew by over 80% year-over-year.

• Pricing is projected to decline by 2%-3% for the full year, most significantly in the first half.

• The company executed $150 million in share repurchases and paid $42 million in dividends in Q1.

Business Progress:

• Plans for the sale of its Interconnect business are underway, making progress towards becoming a pure-play building products company.

• The acquisition of MTL, a manufacturer of high-performance metal edge and wall systems, aligns with Carlisle's Vision 2030 strategy.

• The company plans to increase growth through the rest of 2024, focusing on innovation investments, and continued M&A activity.

• Cross-selling and factory automation have proved beneficial for the company's net synergies.

• Carlisle Companies is integrating AI in factories to improve efficiency and aid forecasting, while also emphasizing sustainable practices.

• The company has and will continue to introduce new products to the market to support its business expansion.

• Despite broader economic issues, the markets Carlisle operates in are predicted to see mid-single digit growth in reroofing, while new construction will likely decline by high single digits.

More details: Carlisle Companies IR

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