Carlisle reports Q3 adjusted EPS $4.68, consensus $4.54

Reports Q3 revenue $1.3B, consensus $1.27B. Comments from Chris Koch, Chair, President and Chief Executive Officer: “The third quarter marked a significant milestone in Carlisle’s 105-year history. With the recent announcement of the plan to sell CIT and it being reclassified to discontinued operations in the third quarter, we have effectively completed our restructuring of the Carlisle portfolio of businesses with what we have referred to as the “Pivot,” and become a pure-play building products company. In 2021, we made the strategic decision, as superior capital allocators, to focus our investments into our highest returning building products businesses. Our history of supplying premium products for the building envelope, our experience in the construction markets, and our deep understanding of the future drivers for this industry led us to believe that a pivot towards a more simplified and streamlined building products portfolio would provide our shareholders with the highest returns. We are also convinced that our new focus will reward our employees, customers and communities in many ways as our strategic initiatives will leverage significant and positive trends in: greenhouse gas reduction; energy efficiency and demand for “green” products; labor reduction in installation of building envelope products; and waste reduction in our manufacturing operations.”