CSL

The market expects Carlisle (CSL) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 28. On the other hand, if they miss, the stock may move lower. While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise. This diversified manufacturer is expected to post quarterly earnings of $5.96 per share in its upcoming report, which represents a year-over-year change of +6.2%. Revenues are expected to be $1.43 billion, up 6.1% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 0.09% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core. The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For Carlisle, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -0.25%. On the other hand, the stock currently carries a Zacks Rank of #3. So, this combination makes it difficult to conclusively predict that Carlisle will beat the consensus EPS estimate. While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that Carlisle would post earnings of $6.43 per share when it actually produced earnings of $7.03, delivering a surprise of +9.33%. Over the last four quarters, the company has beaten consensus EPS estimates four times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. Carlisle doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Carlisle Companies Incorporated (CSL) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

3M Company MMM is scheduled to release third-quarter 2026 results on Oct. 20, before market open. The Zacks Consensus Estimate for MMM's third-quarter revenues is pegged at $6.60 billion, indicating growth of 4.5% from the prior-year quarter's figure. The consensus mark for earnings is pinned at $2.41 per share, which increased by a penny in the past 60 days. The figure indicates growth of 10.1% from the year-ago quarter's figure. The company delivered better-than-expected results in each of the trailing four quarters, the earnings surprise being 4.1% on average. In the last reported quarter, its earnings of $2.40 per share beat the consensus estimate of $2.27 by 5.7%. Image Source: Zacks Investment Research Our proven model does not conclusively predict an earnings beat for MMM this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is the case here, as elaborated below. Earnings ESP: MMM has an Earnings ESP of -0.58% as the Zacks Consensus Estimate is pegged at $2.41 per share, higher than the Most Accurate Estimate of $2.39. You can uncover the best stocks before they're reported with our Earnings ESP Filter. Zacks Rank: 3M presently carries a Zacks Rank of 3. You can see the complete list of today's Zacks #1 Rank stocks here. 3M Company price-eps-surprise | 3M Company Quote 3M's Safety and Industrial segment's results are expected to perform well, driven by strength across personal safety, industrial adhesives and tapes, abrasives and electrical markets. Stable demand for electrical infrastructure products, including medium-voltage cable accessories and insulation tapes, is likely to have been a tailwind as well. The Zacks Consensus Estimate for the segment's third-quarter revenues is pegged at $3.12 billion, indicating approximately a 6.8% increase from the year-ago number. Solid momentum in the transportation and aerospace markets is likely to have supported 3M's Transportation and Electronics segment's performance. Also, strength in semiconductors, data centers, aerospace and defense, and commercial branding, supported by new product introductions and expanded sales coverage, is proving beneficial for the segment as well. The Zacks Consensus Estimate for revenues from the segment is pegged at $497 million. 3M has undertaken structural reorganization actions that include streamlining its geographic footprint, simplifying the supply chain and optimizing manufacturing operations. These actions are expected to have supported margins in the to-be-reported quarter. However, persistent weakness in the packaging and expression and home improvement businesses is likely to have marred the Consumer segment's performance in the third quarter. The Zacks Consensus Estimate for revenues from the Consumer segment is pegged at $1.31 billion, indicating a decrease of 0.5% year over year. MMM's performance has been negatively impacted by high costs and expenses. The company's solid investments in research and development (R&D) are expected to have pushed up its operating expenses. MMM's shares have risen 9.2% in the past six months compared with the S&P 500 composite's growth of 9.2% and the industry's decline of 23.5%. Among its peers, Griffon Corporation GFF and Carlisle Companies Incorporated CSL shares have gained 9.8% and declined 6%, respectively, over the same time frame. Image Source: Zacks Investment Research MMM has a forward 12-month price-to-earnings ratio of 17.06X, which is above the industry average of 14.45X. In comparison with 3M's valuation, its peers Griffon and Carlisle are trading cheaper. Griffon and Carlisle are trading at 14.83X and 13.85X, respectively. Image Source: Zacks Investment Research 3M is positioned to benefit from continued strength in its Safety and Industrial and Transportation and Electronics segments, supported by new product launches and a favorable 2026 outlook. Ongoing restructuring efforts are expected to enhance operational efficiency. However, persistent weakness in the Consumer segment and elevated operating costs and R&D expenses could weigh on profitability and limit near-term growth. Strength in the Safety and Industrial and Transportation and Electronics segments, along with ongoing cost-control initiatives, are likely to support 3M's third-quarter 2026 results. However, weakness in the Consumer segment and high operating costs and expenses remain near-term challenges. MMM's valuation above the industry average warrants a cautious approach for existing investors. Potential investors may consider waiting for the earnings report and clearer signs of sustained growth before investing in the stock. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report 3M Company (MMM) : Free Stock Analysis Report Carlisle Companies Incorporated (CSL) : Free Stock Analysis Report Griffon Corporation (GFF) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

RPM International (RPM) is set to report its earnings on Tuesday, October 6, 2026. The company has a market value of about $12.6 billion. Over the last twelve months, it generated $7.9 billion in revenue and $966 million in operating profit, with net income of $661 million. The reaction will turn on how the results and guidance land against expectations. Before the release, it helps to know how the stock has behaved after previous reports, and whether an early move has tended to carry on. See the earnings reaction history of all stocks RPM International's Historical Odds Of A Positive Post-Earnings Return Some observations on one-day (1D) post-earnings returns, measured from the last close before each release: - There are 20 earnings releases in the last five years, with 13 positive and 7 negative one-day (1D) returns. Positive 1D returns were seen 65% of the time. - Over the last three years, that share falls to 64% across 11 releases. - The median of the 13 positive 1D returns is 5.8%, and the median of the 7 negative ones is -3.7%. - The largest one-day reactions were 12.4% and -13.1%. The table below shows the 1D, 5-day (5D), and 21-day (21D) returns after each release, followed by summary statistics. Earnings Date | 1D | 5D | 21D 7/22/2026 | 5.8% | 10.1% | 10.0% 4/8/2026 | 12.4% | 12.4% | 6.4% 1/8/2026 | 1.7% | 6.1% | 12.1% 10/1/2025 | -0.6% | -4.4% | -7.6% 7/24/2025 | 8.6% | 5.1% | 10.1% 4/8/2025 | -9.1% | -0.8% | 3.0% 1/7/2025 | 1.1% | 2.9% | 3.0% 10/2/2024 | 6.3% | 8.0% | 7.1% 7/25/2024 | 6.8% | 9.5% | 3.1% 4/4/2024 | -5.8% | -6.6% | -8.2% 1/4/2024 | -3.0% | -0.1% | -0.2% 10/4/2023 | 6.3% | 6.1% | 0.7% 7/26/2023 | 11.2% | 13.0% | 6.6% 4/6/2023 | -3.7% | -2.7% | -3.2% 1/5/2023 | -13.1% | -9.3% | -6.3% 10/5/2022 | 3.3% | 3.5% | 3.1% 7/25/2022 | -0.7% | 5.0% | 7.7% 4/6/2022 | 4.9% | 3.2% | 2.6% 1/5/2022 | 0.3% | -4.0% | -9.2% 10/6/2021 | 2.6% | 0.9% | 12.2% Statistic | 1D | 5D | 21D # Positive | 13 | 13 | 14 # Negative | 7 | 7 | 6 Median Positive | 5.8% | 6.1% | 6.5% Median Negative | -3.7% | -4.0% | -7.0% Max Positive | 12.4% | 13.0% | 12.2% Max Negative | -13.1% | -9.3% | -9.2% Does The First Move Carry On? Another approach is to wait for the initial reaction and ask whether it tends to continue. The table below shows the correlation between the 1D return and the return over the following 5 and 21 trading days, and between the 5D return and the following 21 trading days. A value near 1 means the first move has tended to continue; near -1, to reverse; near 0, no consistent pattern. The strongest relationship over five years is between the 1D and the following 21 days, at -0.43 across 20 releases: the early move has tended to partly reverse. That is a tendency, not a rule, and it can break on any given report. History | 1D vs next 5D | 1D vs next 21D | 5D vs next 21D 5 Years | -0.40 | -0.43 | -0.19 3 Years | -0.50 | -0.43 | -0.37 Do Peers That Report First Offer A Clue? H.B. Fuller (FUL) usually reports a few weeks before RPM International and has already reported this season. The table covers the 9 reports where Fuller reported within 30 days of RPM. The correlation is 0.11; the closer to 1, the more the peer's reaction has foreshadowed RPM International's, and a negative value means it has tended to point the other way. RPM Earnings Date | RPM 1D | FUL 1D 4/8/2026 | 12.4% | 0.5% 10/1/2025 | -0.6% | -3.9% 4/8/2025 | -9.1% | 6.1% 10/2/2024 | 6.3% | 0.1% 4/4/2024 | -5.8% | -3.4% 10/4/2023 | 6.3% | 6.0% 4/6/2023 | -3.7% | -2.0% 10/5/2022 | 3.3% | 3.0% 4/6/2022 | 4.9% | 0.7% Correlation | - | 0.11 Trading around earnings is a bet on a single event. If you want upside with a smoother ride than an individual stock such as RPM can offer, consider the Trefis High Quality (HQ) Portfolio: about 30 stocks selected for consistent cash generation, strong margins, and resilient balance sheets, with a track record of outperforming a benchmark that combines the S&P 500, the S&P MidCap 400, and the Russell 2000.

Let’s dig into the relative performance of Carlisle (NYSE:CSL) and its peers as we unravel the now-completed Q2 building materials earnings season. Traditionally, building materials companies have built competitive advantages with economies of scale, brand recognition, and strong relationships with builders and contractors. More recently, advances to address labor availability and job site productivity have spurred innovation. Additionally, companies in the space that can produce more energy-efficient materials have opportunities to take share. However, these companies are at the whim of construction volumes, which tend to be cyclical and can be impacted heavily by economic factors such as interest rates. Additionally, the costs of raw materials can be driven by a myriad of worldwide factors and greatly influence the profitability of building materials companies. The 9 building materials stocks we track reported a strong Q2. As a group, revenues beat analysts’ consensus estimates by 4.5% while next quarter’s revenue guidance was 63.4% below. Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 11% since the latest earnings results. Originally founded as Carlisle Tire and Rubber Company, Carlisle Companies (NYSE:CSL) is a multi-industry product manufacturer focusing on construction materials and weatherproofing technologies. Carlisle reported revenues of $1.57 billion, up 8.3% year on year. This print exceeded analysts’ expectations by 6.3%. Overall, it was a stunning quarter for the company with an impressive beat of analysts’ organic revenue estimates and a solid beat of analysts’ EBITDA estimates. SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Carlisle Companies Incorporated (NYSE: CSL) today announced the issuance of an employee stock option grant to eligible employees as part of the company’s ongoing commitment to broad‑based employee ownership and long‑term value creation. “Carlisle has a long track record of providing employee equity grants to recognize contributions, strengthen engagement, and reinforce shared accountability,” said Chris Koch, Chair, President and Chief Executive Officer. Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 3% since reporting and currently trades at $324.36. Is now the time to buy Carlisle? Access our full analysis of the earnings results here, it’s free. Widely known for its success in the paint industry, Sherwin-Williams (NYSE:SHW) is a manufacturer of paints, coatings, and related products. Sherwin-Williams reported revenues of $6.79 billion, up 7.5% year on year, outperforming analysts’ expectations by 3%. The business had an exceptional quarter with full-year EPS guidance beating analysts’ expectations and an impressive beat of analysts’ EBITDA estimates. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 1.5% since reporting. It currently trades at $322.45. Is now the time to buy Sherwin-Williams? Access our full analysis of the earnings results here, it’s free. Resideo Technologies, Inc. (NYSE: REZI) is a manufacturer and distributor of technology-driven products and solutions for home comfort, energy management, water management, and safety and security. Resideo reported revenues of $1.98 billion, up 2% year on year, exceeding analysts’ expectations by 2.3%. Still, it was a slower quarter as it posted revenue guidance for next quarter missing analysts’ expectations significantly and a significant miss of analysts’ EBITDA estimates. Resideo delivered the slowest revenue growth and weakest full-year guidance update in the group. As expected, the stock is down 26.6% since the results and currently trades at $18.88. Read our full analysis of Resideo’s results here. The first-ever Colombian company to trade on the NASDAQ, Tecnoglass (NYSE:TGLS) is a manufacturer of architectural glass, windows, and aluminum products. Tecnoglass reported revenues of $295.3 million, up 15.6% year on year. This number surpassed analysts’ expectations by 11.3%. It was a strong quarter as it also logged an impressive beat of analysts’ EBITDA estimates and a beat of analysts’ EPS estimates. Tecnoglass scored the biggest analyst estimate beat among its peers. The stock is down 24.2% since reporting and currently trades at $36.20. Read our full, actionable report on Tecnoglass here, it’s free. Credited with an invention in the 1950s that improved crop yields, Valmont (NYSE:VMI) provides engineered products and infrastructure services for the agricultural industry. Valmont reported revenues of $1.12 billion, up 6.5% year on year. This print beat analysts’ expectations by 2.6%. Overall, it was a very strong quarter as it also put up full-year revenue guidance slightly topping analysts’ expectations and a beat of analysts’ EPS estimates. Valmont achieved the highest full-year guidance raise of the whole group. The stock is down 9.7% since reporting and currently trades at $475. Read our full, actionable report on Valmont here, it’s free. Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership. Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products. By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals. Want to invest in winners with rock-solid fundamentals? Check out our 9 Best Market-Beating Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

It has been about a month since the last earnings report for Carlisle (CSL). Shares have lost about 2.5% in that time frame, underperforming the S&P 500. But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Carlisle due for a breakout? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent drivers for Carlisle Companies Incorporated before we dive into how investors and analysts have reacted as of late. Carlisle reported second-quarter 2026 adjusted earnings of $7.03 per share, which beat the Zacks Consensus Estimate of $6.43 by 9.3%. The bottom line increased 12% year over year. Revenues rose 8% year over year to a record $1.57 billion and surpassed the consensus estimate of $1.47 billion. Organic revenues rose 7.9%, while acquisitions and foreign-currency translation contributed 0.3% and 0.1%, respectively, to the top-line growth. 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 7.8% year over year to $1.18 billion. Our estimate for segmental revenues was $1.09 billion. Organic revenues rose 7.7%, driven by healthy re-roofing demand, strategic initiatives and strong commercial execution, partly offset by continued softness in commercial new construction. Adjusted EBITDA of $363 million increased 4.8% year over year. Revenues from the Carlisle Weatherproofing Technologies segment increased 9.9% year over year to $389 million. Our estimate for segmental revenues was $350.2 million. Organic revenues rose 8.4% as share gains more than offset continued softness in residential and non-residential new construction markets. Adjusted EBITDA of $74.1 million increased 5% year over year. Carlisle’s cost of sales increased 10.3% year over year to $1.00 billion. Selling and administrative expenses rose 1.2% to $199.3 million, while research and development expenses totaled $11.4 million, up 2.7% year over year. It recorded operating income of $352.5 million, up 5.2% year over year. However, the operating margin contracted 70 basis points to 22.4% from 23.1% in the year-ago quarter, as higher raw material and freight costs outpaced pricing realization. At the end of the second quarter, Carlisle had cash and cash equivalents of $665.3 million compared with $1.11 billion at the end of 2025. Long-term debt, including the current portion, was $2.89 billion, largely unchanged from the year-end 2025 level. In the first six months of 2026, it generated net cash of $197.1 million from operating activities compared with $288.9 million in the year-ago period.During the same period, it paid dividends of $90.1 million, up 2% year over year. The company repurchased shares worth $500 million, down 28.6% from the prior-year period. For 2026, Carlisle raised its outlook. The company now expects revenues from the Carlisle Construction Materials segment to increase in the mid-single-digit range, while revenues from the Carlisle Weatherproofing Technologies segment are also projected to grow in the mid-single-digit range year over year.For 2026, the company expects consolidated revenues to increase in the mid-single-digit range on a year-over-year basis. Adjusted EBITDA margin is projected to remain flat, while the free cash flow margin is expected to be approximately 15%. In the past month, investors have witnessed a downward trend in fresh estimates. The consensus estimate has shifted -7.61% due to these changes. At this time, Carlisle has a average Growth Score of C, though it is lagging a lot on the Momentum Score front with an F. However, the stock was allocated a score of C on the value side, putting it in the middle 20% for value investors. Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Carlisle has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Carlisle belongs to the Zacks Diversified Operations industry. Another stock from the same industry, 3M (MMM), has gained 1.6% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026. 3M reported revenues of $6.5 billion in the last reported quarter, representing a year-over-year change of +5.6%. EPS of $2.40 for the same period compares with $2.16 a year ago. For the current quarter, 3M is expected to post earnings of $2.40 per share, indicating a change of +9.6% from the year-ago quarter. The Zacks Consensus Estimate has changed +0.8% over the last 30 days. 3M has a Zacks Rank #2 (Buy) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Carlisle Companies Incorporated (CSL) : Free Stock Analysis Report 3M Company (MMM) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Applied Industrial Technologies, Inc. AIT reported fourth-quarter fiscal 2026 (ended June 30, 2026) earnings of $3.17 per share, which surpassed the Zacks Consensus Estimate of $2.92. The bottom line increased 13.2% year over year.Net sales of $1.35 billion beat the consensus estimate of $1.29 billion. Also, the top line increased 10.4% year over year. Acquisitions boosted the top line by 0.3% while foreign-currency translation had a favorable impact of 0.4%. Organic sales increased 9.7% year over year.In fiscal 2026, the company reported earnings of $10.95 per share, up 8.2% year over year. AIT’s net sales were $4.97 billion in the year, up 8.8% year over year. Service Center segment sales increased 9% year over year to $849.5 million. Organic sales rose 7.9%, acquisitions contributed 0.5% and foreign currency added 0.6%. U.S. organic sales increased 9%, supported by stronger technical maintenance, repair and operations demand and internal sales initiatives.Segment EBITDA increased 16.3% to $123.6 million. The EBITDA margin expanded 91 basis points to 14.5%, reflecting operating leverage from stronger sales, steady margin performance and effective cost management. Engineered Solutions segment’s sales jumped 12.9% to $503.2 million, entirely on an organic basis. Growth was driven by stronger demand and backlog conversion across automation and fluid power, with contributions from industrial and mobile OEM customers and technology verticals.Segment EBITDA rose 15.8% to $76.2 million, while the EBITDA margin improved 38 basis points to 15.1%. Operating leverage and cost management supported profitability, although muted Flow Control sales growth partly offset the gains. Applied Industrial Technologies, Inc. price-consensus-eps-surprise-chart | Applied Industrial Technologies, Inc. Quote In the quarter, Applied Industrial’s cost of sales was up 10.8% year over year to $941.5 million. Gross profit was $411.2 million, up 9.7% from the year-ago quarter.Gross margin slipped 20 basis points to 30.4%, including a 26-basis-point year-over-year headwind from higher LIFO expense. Selling, distribution and administrative expenses (including depreciation) increased 5.1% year over year to $251.9 million. EBITDA was $177.6 million, reflecting an increase of 16.1%. The EBITDA margin expanded 64 basis points to 13.1%. Exiting fiscal 2026, Applied Industrial had cash and cash equivalents of $127.1 million compared with $388.4 million at the end of fiscal 2025. Long-term debt was $262.3 million compared with $572.3 million at the end of the prior fiscal year.In fiscal 2026, it generated net cash of $484.1 million from operating activities, indicating a decrease of 1.7% from the prior year. Capital expenditures totaled $23.6 million, down 13.3% year over year. Free cash flow decreased 1% year over year to $460.5 million.In fiscal 2026, AIT rewarded its shareholders with dividends of $72.6 million, up 14% year over year. For fiscal 2027 (ending June 2027), Applied Industrial projects sales growth of 4-6.5%, an EBITDA margin of 12.5-12.8% and earnings of $11.65-$12.15 per share. The midpoint assumes stronger sales growth in the first half than the second half, with approximately 150-200 basis points of price contribution.For the first quarter of fiscal 2027 (ending September 2026), AIT expects total sales growth of 6.5-8.5%, organic growth of 6-8% and an EBITDA margin of 12.3-12.4%. The company also raised its intermediate targets to $7 billion in sales and a 14% EBITDA margin, which it expects to achieve over five years. The company currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Carlisle Companies Incorporated CSL reported second-quarter 2026 adjusted earnings of $7.03 per share, which beat the Zacks Consensus Estimate of $6.43 by 9.3%. The bottom line increased 12% year over year. Revenues rose 8% year over year to a record $1.57 billion and surpassed the consensus estimate of $1.47 billion. 3M Company MMM reported second-quarter 2026 adjusted earnings of $2.40 per share, which surpassed the Zacks Consensus Estimate of $2.27 by 5.7%. The bottom line increased 11% year over year.MMM’s adjusted net revenues of $6.5 billion topped the consensus estimate of $6.4 billion and grew 5.5%. On an adjusted basis, organic revenues increased 5.4% year over year. Graco Inc. GGG reported second-quarter 2026 adjusted earnings of 91 cents per share, up 17% from 78 cents in the year-ago quarter. The bottom line surpassed the Zacks Consensus Estimate of 81 cents by 12.4%.The company’s net sales rose 3% year over year to $590.6 million but lagged the consensus estimate of $609 million by 3%. Organic order backlog (excluding acquisitions) rose 28% from the end of 2025. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Applied Industrial Technologies, Inc. (AIT) : Free Stock Analysis Report 3M Company (MMM) : Free Stock Analysis Report Graco Inc. (GGG) : Free Stock Analysis Report Carlisle Companies Incorporated (CSL) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Find your next quality investment with Simply Wall St's easy and powerful screener, trusted by over 7 million individual investors worldwide. Carlisle Companies (NYSE:CSL) announced a 14% increase in its regular quarterly dividend. The higher payout reflects the company’s current approach to shareholder returns through cash distributions. Management described the move as consistent with its dividend policy and capital allocation priorities. For readers looking to find more income ideas that follow from Carlisle Companies' latest dividend move, explore 9 dividend fortresses. Carlisle Companies is a US based manufacturer and supplier of building envelope products and solutions, with a market cap of about $15.5b and operations across the United States, Europe, North America, and other international markets. This context frames how investors might view this dividend decision within a globally diversified industrial business. Is Carlisle Companies's dividend sustainable? Check out what every dividend investor needs to know in our dividend analysis. The investment story for Carlisle Companies is built on the idea that a large reroofing market and efficiency programs can support steady cash generation. This dividend increase ties directly into that Narrative because it shows how management is choosing to share that cash with investors. Read the full Carlisle Companies narrative to see the case behind these numbers The 14% dividend step up points to confidence in the cash flow that Carlisle Companies expects from reroofing demand, higher value insulation products, and its efficiency programs. For a company already running buybacks, a higher regular payout suggests shareholder returns are a core use of cash rather than a side benefit. The key question is whether that higher dividend remains comfortably covered if pricing stays flat and end markets stay soft, which analysts have flagged as a risk. It also does not directly address Carlisle's debt load, so readers may still want to compare this richer cash return with balance sheet capacity and peers like Owens Corning or GAF's parent Standard Industries. In the end, this dividend news only really matters relative to the Carlisle Companies Narrative you believe, and whether you think the cash engine behind it is durable enough to support that story. To ensure you're always in the loop on how the latest news impacts the investment narrative for Carlisle Companies, head to the community page for Carlisle Companies to never miss an update on the top community narratives. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include CSL. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Image source: The Motley Fool. Wednesday, Jul. 29, 2026 at 5:00 p.m. ET Vice President of Investor Relations - Mehul Patel Board Chair, President, and CEO - Christopher Koch CFO - Kevin Zdimal Operator: Good afternoon. My name is Rebecca, and I will be your conference call operator today. At this time, I would like to welcome everyone to the Carlisle Companies Second Quarter 26 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, we will conduct a question and answer session. I will now hand the conference over to Mr. Mehul Patel, Carlisle's vice president of investor relations. Mehul, please go ahead. Mehul Patel: Second quarter 26 earnings call. I am Mehul Patel, vice president of investor relations We released our second quarter financial results earlier today, and you can find both our press release and a presentation for today's call on the Investor Relations section of our website. Joining me today are Christopher Koch, our board chair, president, and CEO and Kevin Zdimal, our CFO. Today's call will begin with Kevin, who will walk through our Q2 financial performance and updated full year 2026 outlook. Christopher will then follow with closing remarks and an overview of our long term value creation strategy. Following our prepared remarks, we will open up the line for questions. Before we begin, please refer to slide 2 where we note that today's comments will include forward looking statements based on current expectations. Actual results could differ materially due to a number of risks and uncertainties which are discussed in our press release and SEC filings. As Carlisle provides non GAAP financial information, we have included reconciliations between GAAP and non GAAP measures in our press release in the appendix of our presentation materials, both of which are available on our website. With that, I will turn the call over to Kevin Zdimal on slide 3. Kevin Zdimal: Thank you, Mehul, and good afternoon, everyone. I will review our second quarter results and discuss our updated outlook for the full year. Let's begin on slide 3. Our record second quarter results reflect the Carlisle team's relentless focus on execution and operational discipline. Continuing our track record of delivering results through challenging macro environments. Revenue was a record $1.6 billion. Increasing 8% year over year, and adjusted EPS increased 12%. to a record $7.03. These results demonstrate our unwavering commitment to operational excellence. Through disciplined pricing, productivity from the Carlisle operating system, and strong commercial execution, we delivered solid growth and profitability. Despite a significant increase in petroleum based raw materials and freight costs stemming from the conflict in The Middle East and related supply chain disruptions. Inflation and several supplier force majeure events impacted key inputs across our roofing and insulation product lines. Our response was timely and commensurate with the cost pressure we expect in the coming months. Since the start of the conflict, we have announced 3 broad based price increases and implemented freight surcharges to offset higher raw material and freight costs. As we have seen in prior inflationary cycles, price realization typically lags rising costs. As I mentioned on the first quarter call, we expected to see negative price costs in Q2 as we work through committed quotes and the required notification period to customers. We expect the benefit of our pricing actions to build through the second half of 26 turning positive in Q4. Turning to slide 4. Second quarter revenue increased 8% to a record $1.6 billion driven by solid performance in both CCM and CWT. Healthy re roofing demand, execution of our strategic initiatives, including improved traction in data centers, and a couple percentage points from customer prebuying ahead of announced price increases more than offset continued softness in new construction. Adjusted EBITDA increased 6% to $412 million with an adjusted EBITDA margin of 26.2%, down 70 basis-points year over year as a result of the expected impact of raw material and freight costs increased faster than pricing realization during the quarter. Carlisle operating system productivity improvements disciplined cost management, and synergies from recent acquisitions helped offset some of that pressure. Record adjusted EPS of $7.03 increased 12% year over year. Was driven by higher operating earnings and share repurchases partially offset by higher interest expense. Moving to CCM on slide 5. CCM delivered record revenue of $1.2 billion, an increase of 8% year over year. Reroofing demand remained healthy, growing approximately 3%, while commercial new construction declined mid single digits. The vast majority of CCM's high single digit revenue growth from strong commercial execution. And the success of our strategic initiatives, while customer prebuys ahead of announced price increases contributed a couple percentage points of growth. Adjusted EBITDA increased 5% to $363 million and adjusted EBITDA margin was 30.7%. Down 90 basis-points year over year. Margin performance was in line with the expectations we discussed last quarter and reflects the benefits of higher volumes partially offsetting elevated cost inflation during the period. Importantly, CCM achieved margins above 30% despite significant raw material and freight inflation. Underscoring the strength of our business model, the resilience of reroofing demand, and the effectiveness of the Carlisle operating system. Turning to CWT on slide 6. Revenue increased an impressive 10% to $389 million. Through solid execution, on share gain initiatives, which more than offset continued softness in residential and nonresidential new construction end markets. Adjusted EBITDA increased 5% to $74 million and adjusted EBITDA margin was 19%. Down 90 basis-points year over year. While margin was impacted by the same inflationary pressures affecting CCM, CWT's margin improved 380 basis-points sequentially from the first quarter. This improvement reflects the benefits of the structural efficiency initiatives we implemented over the past year, and CWT's relentless focus on costs. Investments in automation, footprint consolidation, and in house expanded polystyrene resin capacity are now largely in place and beginning to generate operating leverage. We expect those benefits to continue building through the rest of the year and drive further margin improvement in the second half. Turning to slide 7 and our financial position. As of 6/30/2026, we had $665 million in cash and cash equivalents, and $1 billion available under our revolving credit facility. Net debt to EBITDA was 1.7x. Comfortably within our target range of 1x to 2x. This balance sheet strength allows us to continue in the business to drive organic growth, pursue disciplined m and a opportunities, and return significant capital to shareholders. Moving to cash flow on slide 8. For the second quarter, operating cash flow from continuing operations was $244 million and free cash flow from continuing operations was $203 million. Reflecting the expected working capital impacts during the peak construction season. Capital expenditures were $42 million During the quarter, we repurchased $250 million of shares bringing year to date purchases to $500 million. Including $90 million of dividends we returned $590 million to shareholders in the first half of 26. Given our strong cash generation, recent stock price levels versus our internal assessment of the intrinsic value of our shares we are increasing our full year repurchase target from $1 billion to $1.2 billion, which will bring our total share repurchases to more than $7 billion over the last 10 years. Now turning to our updated outlook on slide 9. Based on our first half performance, continued momentum in our strategic growth initiatives, and the pricing actions we have taken, we are raising our full year 2026 revenue outlook to mid single digit growth. But lowering margins 50 basis-points to now reflect flat adjusted EBITDA margin year over year. The change in our margin outlook reflects the additional raw material and freight inflation impacts stemming from the extended conflict in The Middle East and related supply chain disruptions. We expect pricing to recover those costs but with a previously discussed lag in timing. Importantly, our structural margin expansion initiatives remain on track, and our long term margin outlook remains unchanged. With that consolidated outlook, we now expect CCM revenue growth up mid single digits with reroofing up 3%, to 4%. New construction down low single digits, and pricing realization through the second half. We expect CWT revenue growth also up mid single digits, with meaningful margin improvement in the second half as the benefits of our structural initiatives continue to build. We continue to expect full year ROIC of approximately 25%, free cash flow margin of approximately 15%, and double digit adjusted EPS growth in 2026. Finally, turning to vision 2030, financial goals on slide 10. We remain confident in our long term targets of $40 of adjusted EPS and ROI above 25%. Despite a challenging environment over the last 2 years for new construction, and a difficult deal environment where sellers expectations continue to be elevated relative to our valuation, we remain on track to meet our 2030 objectives. Through the end of 26, we expect our adjusted EPS CAGR since launching Vision 2030 to exceed 11%. We believe that our strong operational performance, a relentless focus on the Carlisle experience, investment and innovation, pursuit of accretive m and a, and superior capital allocation, keeps us well positioned to achieve our long term objectives. With that, I will turn the call over to Christopher. D. Christian Koch: Thank you, Kevin, and thank you all for joining us today on our Q2 earnings call. I will begin by briefly emphasizing some points that Kevin touched on. But before I do, let me first address the rumors in the market recently regarding a Carlisle effort to acquire Owens Corning. We have not publicly commented on these rumors, and today, I would like to reiterate our stance by clearly stating Carlisle does not comment on rumors, or speculation. Turning to our second quarter performance and market conditions. The quarter demonstrated exactly what we mean when we say we focus our teams on what we can control, a hallmark of our results driven culture. Despite significant macroeconomic headwinds, including the Middle East conflict, higher oil prices, and the continued multiyear drag from new construction markets, we delivered record revenue and record adjusted EPS. We also took decisive pricing actions in response to the significant events and ongoing conflict in the Middle East. We also made meaningful progress on structural improvements at CWT, and continued to convert our innovation pipeline into commercial wins. The recent geopolitical events along with ongoing uncertainty around future interest rates have clouded the timing of a new construction market recovery. The increase in our revenue outlook assumes no such improvement for new construction in 2026. Instead, our revised outlook is built on continued superior capital allocation, relentless focus on operational excellence, delivering the Carlisle experience, and bringing to market the latest and innovative products and services to benefit our contractors. As a reminder, Carlisle is uniquely positioned to benefit from being a market leader with a hundred and 9 year history built on delivering innovative products to the strongest building products market in the world, The United States. We are also benefiting from our focus on reroofing. With 70 plus percent of our sales driven by reroofing, we have benefited from its largely noncyclical nature and its steady mid single digit growth over the last 2 decades. Combined with our strong cash generation, we are positioned to deliver steady performance through almost any economic environment. With that context, I would like to provide an update on our key vision 2030 initiatives and why we believe Carlisle remains well positioned to create long term value for shareholders. Innovation remains central to our organic growth strategy and underpins our efforts to deliver 5+% organic growth. This quarter showed that our growing pipeline of new ideas generated by our new VOC process is translating into increased commercial momentum. We shipped the first orders of our award winning ThermaThin R-7 polyiso insulation in June, slightly ahead of schedule. The initial project utilizing our new r 7 product was an energy efficiency building code driven win. It was all about helping a customer meet energy code requirements within a constrained roof assembly height. Thermothin 7 was the answer. Why? Because Thermothin 7 delivers approximately 23%, higher R-value per inch than standard polyiso in many conditions. Helping reduce material layers, roof height, number of delivery truckloads, crane lifts, and installation time. ThermaThin R-7 is 1 of a dozen new products we will launch in 2026 with half of them already launched in the market. Including our temperature sensing adhesive gun, and 16-foot seam shield. Additional launches including our high yield closed cell spray foam are scheduled for August. On the retail side, Henry's UltraTouch denim insulation is now stocked in nearly half of Home Depot stores nationwide and delivering improving sales at stores it has been in for a year. While these recently introduced products will take time to ramp, more meaningful contributions will build into 2027. Our expanding new product pipeline, which will be enhanced and supported by our new addition to our research and innovation center, positions us to sustain an increasing cadence of new product introductions into the next decade. Importantly, we are on track to achieve our vision 2030 goal of generating 25% of total sales from products introduced in the past 5 years. Innovation investment and new product introductions are a significant point of differentiation in the marketplace and will provide a meaningful response to competitive threats. And as the competitive landscape evolves, our focus on proprietary building envelope innovation, technical selling, code driven application expertise, and contractor productivity tools will distance us from the competition. While innovation is a key driver to growth, I also wanna spend few minutes on M&A, because capital allocation is 1 of Carlisle's core competencies, and an important driver of long term shareholder value creation. Our approach over the last decade has not changed. We remain focused on targets within the building envelope, that add to our organic growth prospects, increase our connection to our contractors, enhance our product offering, strengthen our market positions, and increase our content per square foot. We have made a commitment to being superior capital allocators. That will not change. We seek to do deals that fit our 4 criteria, 1) an existing organic growth story, 2) tangible hard cost synergies. 3) a strong management team, and 4) the ability to deploy our Carlisle integration playbook. These are the foundation of our successful approach to M&A. Importantly, we require a clear path to value creation. Through the Carlisle operating system and the Carlisle experience, we look to accelerate growth expand margins, and improve returns while maintaining the disciplined ROIC thresholds that have guided our capital allocation for decades. Whether investing organically, pursuing acquisitions, repurchasing shares, or increasing dividends, our objective is the same, deploy capital where it creates the greatest long term value for our shareholders. Our track record speaks for itself. Henry is a strong example. Even against softer residential end markets, it continues to deliver on profitability we underwrote. With EBITDA margins running in line with our original deal model, and synergies exceeding the initial target by 65%,, despite the challenging end markets. Before I close, I wanna take a moment to reflect on what I believe defines Carlisle as much as any product line or market position. And that is our track record as a superior capital allocator. And what that has meant for our shareholders over the long term. Carlisle is best understood not merely as a roofing product company, but as a capital allocation story. For more than 5 decades through recessions, market cycles, and the transformation of our portfolio from a diversified industrial conglomerate to the focused 1 thing has remained constant. pure play building products company we are today, A relentless focus on ROIC and strong cash generation. That discipline is not a recent development. It is a foundational to who we are and how we operate. Regardless of the business in our portfolio at any given time. Our industry leading ROIC of approximately 25% and free cash flow margin above 15% are not targets we aspire to, They are the results of this philosophy applied consistently and compounded over time. We have repeatedly converted operating profits into cash, and redeployed that cash at attractive rates of return through portfolio optimization disciplined m and a, share repurchases, and dividends. The result has been sustained long term value creation for our shareholders. Next month, Carlisle will announce its 50th consecutive annual dividend increase. That achievement will place us in an elite group. Becoming what some call a dividend king. In fact, fewer than 60 publicly traded companies in The United States today have achieved this milestone out of thousands of public companies. It is a testament to the durability of our business model, to the dedicated management teams that have led this business since 1.98 thousand with the same core philosophies. A commitment to financial strength, and to providing our owners returns that few companies can claim they have demonstrated for half a century. Reaching this milestone reflects the strength and consistency of Carlisle's capital allocation model. It means we have sustained margin resilience, and generated strong free cash flow through every environment we have navigated including periods of significant macro disruption, portfolio transformation, and end market headwinds. We are deeply proud of this record and equally committed to sustaining it. As we look forward, that same capital allocation philosophy built on ROIC discipline and a relentless focus on value creation will continue to guide every decision we make, and our shareholders can count on that. Stepping back, everything we accomplished this quarter connects to the same foundation. Carlisle operates an imperative business in what we believe is the world's best building products market, and we hold leading positions across key product lines. Over 70% of the nonresidential building stock in North America is more than 25 years old, underpinning the recurring reroofing demand that anchors our resilience through cycles. Those advantages give us conviction to raise our full year revenue outlook even without assuming any improvement in the end market demand. We remain committed to being best in class operators and disciplined capital allocators, delivering on our vision 2030 strategy through growing sales, both organically and with bolt on acquisitions, expanding margins, and increasing free cash flow. As our employees all know, they do the work necessary to fulfill our commitments and deliver on our promises. From our sales teams currently educating the market on our new products, to our innovators bringing us new solutions to everyday issues, to our factory teams making our products with industry leading safety, we recognize their efforts and thank everyone for another solid quarter. Thank you to all on the call for your time and continued interest in Carlisle. And with that, I will turn it back to the operator to open the line for questions. Operator: Thank you. Ladies and gentlemen, we will now begin the question and answer session. For the sake of time, we kindly request each person limit themselves to 1 question to give everyone the opportunity to participate in the question and answer session. If you would like to ask a question, please press star-1 to raise your hand. To withdraw your question, press star-1 again. We ask that you pick up your handset when asking a question to allow for optimum sound quality. If you are muted locally, please remember to unmute your device. Please stand by while we compile the Q&A roster. Your first question comes from Susan Maklari with Goldman Sachs. Susan, please go ahead. Susan Maklari: Thank you. Good afternoon, everyone. Unidentified Speaker: Hi, Sue. Good afternoon. Susan Maklari: Hi, Christopher. Hi, Kevin. My question is around the Vision 2030 target that you have outlined and talked about. Can you give us a bit more color on how the new products are positioning you to achieve those long term targets of an organic basis? And how we should also be thinking about the improvement in the margins that you are seeing as you are realizing the benefits of the Carlisle operating system and other efficiencies and productivity that are coming through. D. Christian Koch: Yes. Sue, thanks for the question. Innovation, you know, we added in a 2025 our Vision 2030 strategy. We think it is 1 of the key axes for Carlisle to invest in it. So we were gonna and then we continue to make investments, and we will be a 3% level, hopefully, within the near future. We are funding products that are really like ThermaThin R-7 producing a lot of really tangible value to the contractor. We want the contractor. We want to see the building owners have a benefit. And our distribution channel partners have a preference for stocking Carlisle because of that end-user demand. So when you think about ThermaThin R-7, we are creating value, as we saw in the example that I mentioned in the call, for everybody in that chain. And what we are-- our plan is to increase our profitability by increasing their profitability. So if you think about the cost per square foot, it is going up. And an R-7 insulation is higher priced, of course. So there is revenue growth that are embedded in that scenario. But there is also increased margin. That increased margin comes from us really splitting in essence the profitability that we would take with the contractor distributor and other people in the chain. Including the building owners. And that shows up in different ways, whether we talk about you know, the number of cranes you need, truck loads, installation time, labor savings, things like that, or just operating the building more efficiently. So I think when you look at innovation, ThermaThin R-7, while it might not be the biggest product we launch over the next 5 years, it is absolutely representative of what we are trying to do here by creating that value, increasing and then increasing, really, profitability per square foot. And remember, our goal is going to be 25% of sales Right? Introduce you know, x amount of years. And so that will start to move up. It will start to generate organic growth on the top line. And then hopefully have an impact on the margins as we go to the future. And then when you look at the Carlisle operating system, I mean, we have always targeted 1% to 2%. of sales as our as our savings during the year. COS continues to do a great job for us We continue to, as we said in the call, think about how we spend our money. Are we doing it efficiently? Return on invested capital, how do we put CapEx into the business under the COS enterprise and think about how we perform our task. Should we use automation? You know, now we are putting in a lot of robotic equipment into the factories that increase productivity, reduce safety, concerns, increase efficiency, reduce scrap, things like that. So, COS is alive and well. There are even applications around AI that COS will start to take on. So I think you will continue to see this 1. Do not think I know you will continue to see COS as a contributor to that margin profile as well. Susan Maklari: Okay. Thank you for all that color. I will I will pass it on. D. Christian Koch: Oh, you are welcome. Operator: Your next question comes from Timothy Wojs with Baird. Please go ahead. Timothy Wojs: Hey, guys. Good afternoon. Yep. Nice job. Maybe just, first question, you know, 8% organic growth in CCM. I know you called out a couple of points there from pre buy. But that is, you know, definitely the strongest growth there we have seen in, you know, you know, several quarters. Just I guess if you could give us a little bit of color on the pricing piece and then you have a little bit more intel than maybe we do. But what is your feel on what the market actually grew in the second quarter and how you performed relative to that? D. Christian Koch: Hey, Timothy, I will take the first 1 on this on the market. We do our Carlisle market survey. I think when we look at the overall market, we were seeing the new construction pretty much what we thought it was going to be down, low single digits. And then when we look at reroofing, you know, we have said it is it is consistently been in that, you know, low single digits to maybe mid single digits. I think there will be pockets. Obviously, data centers are 1 that continue to be a higher growth area. You see that, I think, in the PBC sales across companies. 1 thing I would say is there is been a little bit of a constraint on the ability to get PVC in the data center market. And so what we are seeing now is some of the specs are opening up, and we are seeing premium TPO be a substitute because it was a fine product to use. We could also use EPDM and other things. But in the past, it had been pretty much a PVC market. Now it is opening up to TPO. To address that need by end users and contractors to get these jobs done and get them up and running. So, obviously, opening up that aperture into premium TPO helps us because, obviously, that is a sweet spot for us. there is some nice market growth in there. But I think overall, the market is pretty much what, you know, we thought it was. it is it is overall, you know, pretty much flat. Kevin Zdimal: Yeah. Yeah. Timothy, as you looked at pricing in the second quarter, that is where for us we have pricing announcements that we have out there 3 of them, as you know. They take time to ramp up. You have jobs whether it is jobs that were previously bid and you protect those jobs. Or some pricing in place for notification with the distributors. So it takes time for all the pricing to flow through. Second quarter here was low single digits. We expect that to ramp to mid single digits and Q3 and then high single digits in Q4. Timothy Wojs: Okay. Okay. that is helpful. And then maybe just you could help us a little bit on the modeling just to think about kind of the price cost impact in CCM on the EBITDA line? And then, you know, just another question. MDI supply has been tight. Have you had any issues accessing or getting supply of MDI, and have you heard of others that have had issues with that? Thanks. D. Christian Koch: Yeah, Timothy. On the MDI, we talked about it, I think, at end of first quarter call where I would said we are concerned about price going up. And then I think I would mentioned that my concern was that eventually, if this thing continued, we would start to get supply issues, and that is what we are seeing with MDI. And they are not necessarily all related to The Gulf and what is going on there. Had some issues with chlorine and things like that. For us, we have been able to get our supply of MDI. We appreciate the supply chain and the commitment they make to Carlisle. I would say that our thoughts would be though that there are others who might be a little more constrained on that, but we do not have you know, obviously, information that we can tell you that for sure. Kevin Zdimal: And then, Timothy, to help you with the modeling, yes, we look at it. Q3 for CCM. We are expecting around a 29% EBITDA margin. Q4, we are looking around 28%,, and that is full year, right about 29% for CCM. CWT, we are expecting to be up for the full year 100 basis-points. On EBITDA with that is about 250 basis-points in both Q3 and Q4 for improvement. Timothy Wojs: Alright. Sounds good. Everybody. D. Christian Koch: Yeah. Thanks, Timothy. Operator: Your next question comes from Tomohiko Sano with JPMorgan. Please go ahead. Tomohiko Sano: Hi, everyone. Unidentified Speaker: Kelly. Tomohiko Sano: Hi, Tomohiko. Thank you for taking my questions. So, Christopher, you mentioned COS, Henry. what is the 1 biggest driver of success there? And on CWT with a 380-basis-point sequential margin improvement,, how much is from Kingman automation and EPS insourcing, and how should we think about the second half demand and margins, please? Thank you. D. Christian Koch: Maybe we will take the how much the margin coming from Kingman and from the EPS and those improvements CWT. Mehul, you want to handle that 1? Mehul Patel: Yes, Tomo. So as you know, we said this in the past, with those self help initiatives and margin expansion at CWT for the full year. We are expecting around $20 million of margin expansion And all those investments are in, so we are starting to see the contribution, which did help our Q2 results. If you look at the automation piece of it, that was approximately $3 million of, contribution. The footprint, consolidation, another $1 million. And then on the expanded polystyrene in house capability that we added, that is adding around $2 to $3 million in the quarter. But, again, as I said, for the full year, it is $20 million, so, we will continue to see traction, grow in the second half. D. Christian Koch: And, Tomohiko, I missed I think we had a connection issue. I missed the first part of your question. Can you repeat that, please? Sure, Christopher. So what is the 1 biggest driver of success of COS at Henry? Carlisle operating system at Henry, please. Oh, at Henry. Yeah. Well, I think the number 1 key driver of success is just culture. I think when we implement COS in any new acquisition, it tends to be something that brings people together and we couple it up with our real 2 in the box you know, a methodology for a deal integration where we are putting someone from Henry with someone from, you know, Carlisle. And I would say at Henry, our leaders at that time, we had Steve Schorr running the 1 side from Carlisle, who is now vice chairman for us running our metal business. And we had Frank J. Ready who runs CWT, both very committed to driving safety, to driving efficiency, to driving being smart capital allocators in that. And so I think it is the culture that, you know, Henry was owned by private equity. They did a good job. They got a great return for their dollar. What Carlisle brings is a different system. A different commitment to safety and things like that. And I think once people see that at the beginning of the acquisition, that they are involved that they are-- they have a framework I think the Henry people embraced it, and that to me, the culture is really the biggest driver. Thank you. Tomohiko Sano: Appreciate it. D. Christian Koch: Thank you, Tomo. Operator: Your next question comes from Bryan Blair with Oppenheimer. Please go ahead. Bryan Blair: Thank you. Good afternoon, guys. Afternoon. I was hoping you could, remind us of the key share gain initiatives, at CWT. Those certainly seem to be reading through Maybe drill down on the products and categories involved and if it is possible, you know, quantify the magnitude of run rate share capture. Mehul Patel: Yeah. So overall, Bryan, I will take that 1. Share gain, obviously, was a huge contributor to CWT's top line performance, 8% organic growth. With markets down, you know, 3% to 4%. So overall, solid performance. And it is all coming from traction on all the work that they have been doing, around their share gain initiatives. So it is mainly around the waterproofing and the spray foam, parts of that business. Within waterproofing, advanced waterproofing, that is a cold fluid applied waterproofing technology, that is used in the commercial space. that is growing over 50%,. it is contributing approximately $15 million this year. The second 1 is UltraTouch. that is the new product that we launched to the Bonded, Logic acquisition. that is in roughly half the stores. that is gaining some traction. it is probably growing. Know, $4 to $5 million, this year. And then within spray foam, we started a new, go to market strategy selling direct to contractor through our own delivery van. We started in the Southeast market and expanding that into additional markets, out West and the Southwest. that is approximately $10 million for the full year. And then you have a pretty significant traction on what we call base, share gain growth on base categories. We are expanding into additional channels and distributors, between Roof Coatings and Roof Linings. So all that together, is, driving the growth while the markets are still, down for CWT. Bryan Blair: Thanks, Mehul. Appreciate all the detail. Operator: Your next question comes from Ryan Merkel with William Blair. Please go ahead. Ryan Merkel: Hey, everyone. Thanks for the question. Wanted to ask on price cost. What is included in guidance for price/cost hit this year in dollars? And then for the margin guide, was the move to flat EBITDA margins, was that all price cost timing? Or is there something else in there? Kevin Zdimal: Yeah. The move on the margin was 100% related to the price cost. As you know, we have had rapid inflation on both raw materials and freight. And so that ends up being a negative to us for the year. The second quarter was a minus about $40 million on the price cost at CCM. It was immaterial at CWT, a couple of million dollars there. So that piece of it was Q2. Q3, we look to get back to neutral there. And then Q4, a little bit positive. So that is what flows through the year on the price cost. But, yeah, when you look at margins, that is going to have a hit on the margin also, as you get that additional revenue, as you know, from that pricing, you do not have the additional EBITDA dollars, that has a dilutive impact on the margins. So margins, go down. The outlook, as you know, on the revenue was increased from low single digits to mid single digits for the year. That implies high single digit growth in the second half at both CCM and CWT. Really both Q3 and Q4 for both of those businesses at that high single digit growth rate. Ryan Merkel: Alright. Very helpful. Pass it on. Thanks. Operator: Your next question comes from David MacGregor with Longbow Research. Please go ahead. David MacGregor: Yeah. Good afternoon, everyone, and thanks for taking my questions. Let's talk about CWT. Is CWT turning the corner here? I mean, I know there is been a lot of work put in here. Frank and his team have been, you know, laser focused on, you know, the minutiae of turning this thing around. It looks like it is starting to move. You made a lot of investments. Mostly, you are realizing on those investments now. Can you get this back to, like, 2023 margins in a full year of 2027 benefit? D. Christian Koch: Yeah, David. I mean, the question of turning the corner, I think, the whole team, and Frank and his team know this very well. When you look at all the initiatives, I mean, getting the UltraTouch launch and out into Home Depot, The real performance on this polyurethane and shifting the market strategy and, you know, going direct and really creating value there by the team in polyurethanes. I mean, Mehul mentioned the waterproofing and things like this. You know, all this is great. It just does not drive a lot of volume on dollars or EBITDA margins. Right? So what we really need is we really need that market turnaround. I mean, that is what is been holding it back. So when we look at your guess is as good as mine here. Someone I think I would agree with this. They said that, you know, it is not a question in the resi market of when the recovery-- it is a question of when it occurs, not if. I think that is where we are. The team continues to do what they can. We mentioned doing things under their control, and they are making good progress. Pleased with everything on all fronts from safety, to raw material production in Canada where we were controlling more of that on EPS. So we have got it across the business. The issue is we need some volume And once we get that, you know, I have always said, I think I am aspirational getting to 35% in this business over time with new products and some more m and a and, you know, bolt-on M&A there, which I think will happen. But the timing, I would like to think we will get through this conflict. We will get rates in a better position, and we will get homebuilding back on track. And we will be there. But yeah, I do not see it happening before the end of the year. and even next year, I just see that team needing to focus on self help. Right? Introducing new products. Driving more efficiency, more automation, things like that to drive margin. So margin will improve. It just will improve a lot faster if we get some volume to throw on it. David MacGregor: So, I mean, there is a lot going on in that segment. there is a lot of diverse businesses and designs, but what is the incremental margin? What should that volume when it recovers? What should it leverage at? Kevin Zdimal: Yes. it is around 33%, to 35%,. And then as Christopher mentioned, as we get more operating efficiencies, our goal is to get that incremental higher? David MacGregor: Okay. And with regard to m and a, is this a business you would continue to allocate new capital to from an M&A standpoint? Or I mean, I do not mean bolt ons, but maybe something a little more transformative, a little more substantial. D. Christian Koch: You know, I do not think the business needs a transformative piece. I think we are starting to get really built out around this idea of the building envelope. You know, we have got MTL and we improved our position on metal for CCM. We start to get a little bit heavier into the metal panel business, which we can expand. There could be some opportunities there. When we look at EPS, we talked about having a nationwide system of EPS manufacturing that would mimic Henry's sealants business in 1 of the huge value propositions to Home Depot. So, you know, EPS, we probably got a couple areas still left to fill that we are working on, specifically the Southeast. That will happen. When I look at polyurethane foams, that is been a tough market, as you know. Pricing has not been very good. We have got some players there that might have had some different objectives. But this move, again, I compliment the team to taking a different market approach to be able to show the value to the contractor So I think in every 1 of those areas, there is opportunities to add these bolt ons and expand. And it goes back to the 4 criteria really that we have got to have those hard synergies. I think when you start looking at transformative deals and CWT, you are talking now a new leg. And then I wonder how we fulfill our 4 criteria. I think we could get the organic gross story, but I would be hard pressed to figure out how we are gonna get those synergies that, you know, we talked about delivering on the Henry acquisition. So yeah, I do not see us going in that direction as much as seeing us continue to drive the performance we have in increasing margins that way. Operator: Your next question comes from McClaran Hayes with Zelman and Associates. Please go ahead. McClaran Hayes: Hey. Good evening, guys. Yeah. Maybe sticking with CWT, that segment touches such a lot of different end channels. Just be helpful if you could share what you are embedding in your volume outlook across those different end channels. Mehul Patel: Within CWT for the year? Yeah. I can take that 1. So overall markets, for us, we are assuming any improvement from the first half into the second half, so it is steady. The comps do get easier. So from an in-market standpoint, we are assuming down about 2%. You look at residential, new construction has started off down high single digits. In the second quarter, it was somewhere between mid single digits and high single digits. And in the second half, things are not getting better, but with easier comps, as I mentioned, it is gonna be down low single digits in our assumptions. The commercial new segment, that 1's deteriorated further, we are assuming down mid single digits in the second half. And the R&R pieces for both commercial and residential were assuming flat. So you put those together, overall CWT in the second half, both Q3 and Q4 down a couple points. McClaran Hayes: that is helpful. And are you seeing any difference in your ability to pass on price across those end channels? Mehul Patel: You know, overall, we have not had any challenges in majority of the business. I would say expanded polystyrene is 1 area where we see more competitive pressure. And it is been more difficult. But waterproofing has not been any issues within polyurethane spray foam. The initial price increase, that we announced, have not had any issues. But with the MDI and polyols with the force majeures we are seeing elevated cost. There was some price cost pressure, but we have been able to get the first price increase. Thank you. McClaran Hayes: Thank you. Operator: There are no further questions at this time. I will now turn the call back to Christopher Koch for closing remarks. D. Christian Koch: Thanks, Rebecca. This concludes our second quarter earnings call. Thanks, everyone, for your participation. And we look forward to speaking with you at the next earnings call. Operator: Thank you. This concludes today's conference call. Thank you for your participation. You may now disconnect. Before you buy stock in Carlisle Companies, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Carlisle Companies wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $397,405!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,344,091!* Now, it’s worth noting Stock Advisor’s total average return is 953% — a market-crushing outperformance compared to 214% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks » *Stock Advisor returns as of August 7, 2026. This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has positions in and recommends Carlisle Companies. The Motley Fool has a disclosure policy. Carlisle (CSL) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

ITT Inc.’s ITT second-quarter 2026 adjusted earnings of $2.08 per share surpassed the Zacks Consensus Estimate of $1.93. The bottom line jumped 18.2% year over year, aided by strong segment operating income and solid commercial and operational performance.Total revenues of $1.47 billion beat the consensus estimate of $1.39 billion. The top line increased 51.5% year over year. Organic sales rose 12.7% year over year, driven by strength in aerospace and defense, connectors, pump projects and continued outperformance in Friction aftermarket. In the first quarter of 2026, the company combined the Industrial Process segment with its SPX FLOW business to form the Flow Technologies segment.Revenues from the Flow Technologies segment totaled $792.5 million, up 122.7% year over year. The increase primarily reflected the first full quarter of contributions from the SPX FLOW acquisition, along with strength in pump projects and valves. Our estimate was $718.7 million. Organic sales increased 20.7% and adjusted operating income grew 107.8% on a year-over-year basis.Revenues from the Motion Technologies segment amounted to $403.6 million, implying a year-over-year increase of 5.6%. The higher sales were attributable to increased volumes from market share gains and favorable foreign currency impacts, partly offset by pricing. Our estimate was $278.6 million. Organic revenues increased 1.6% year over year. Adjusted operating income increased 10%.Revenues from the Connect & Control Technologies segment of $295.7 million rose 17.4% year over year on a reported basis and 17.3% organically. Our estimate was $271.5 million. The results were driven by wins in defense and industrial connectors and aerospace components, along with favorable pricing actions. Adjusted operating income increased 23% year over year. ITT Inc. price-consensus-eps-surprise-chart | ITT Inc. Quote ITT’s cost of revenues increased 54.9% year over year to $963 million. The gross profit jumped 45.4% to $510.1 million.General and administrative expenses increased 68.3% year over year to $143.9 million. Sales and marketing expenses rose 70.2% to $87.5 million. Research and development expenses increased 31.6% year over year to $35.8 million.Adjusted operating income rose 54.9% year over year to $295.2 million. The margin expanded 40 basis points to 20%. Exiting the second quarter, ITT had cash and cash equivalents of $590.8 million compared with $1.74 billion at the end of fourth-quarter 2025. The company’s short-term borrowings were $858.4 million compared with $261.3 million at the end of December 2025.In the first six months of 2026, ITT generated net cash of $231.1 million from operating activities compared with $267.1 million in the year-ago period. Capital expenditure totaled $55.2 million in the same period, up 3.8% year over year. Free cash flow was $176 million compared with $214 million in the prior-year period.During the first six months of the year, ITT paid out dividends of $69.5 million, up 23.7% year over year. It repurchased shares worth $104.9 million in the period. For 2026, ITT raised its adjusted earnings guidance to $8.12-$8.32 per share from $7.70-$8.00 previously expected. The company also increased its revenue growth forecast to 38-41% from 36-38%, with organic growth now expected at 5-8% compared with 4-6% earlier. Adjusted operating margin guidance was raised to 20-20.9% from 19.7-20.6% anticipated before. Free cash flow is now projected at $550-$580 million, indicating a free cash flow margin of 10-11%. The company currently carries a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Carlisle Companies Incorporated CSL reported second-quarter 2026 adjusted earnings of $7.03 per share, which beat the Zacks Consensus Estimate of $6.43 by 9.3%. The bottom line increased 12% year over year. Revenues rose 8% year over year to a record $1.57 billion and surpassed the consensus estimate of $1.47 billion. 3M Company MMM reported second-quarter 2026 adjusted earnings of $2.40 per share, which surpassed the Zacks Consensus Estimate of $2.27 by 5.7%. The bottom line increased 11% year over year.MMM’s adjusted net revenues of $6.5 billion topped the consensus estimate of $6.4 billion and grew 5.5%. On an adjusted basis, organic revenues increased 5.4% year over year. Graco Inc. GGG reported second-quarter 2026 adjusted earnings of 91 cents per share, up 17% from 78 cents in the year-ago quarter. The bottom line surpassed the Zacks Consensus Estimate of 81 cents by 12.4%.The company’s net sales rose 3% year over year to $590.6 million but lagged the consensus estimate of $609 million by 3%. Organic order backlog (excluding acquisitions) rose 28% from the end of 2025. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ITT Inc. (ITT) : Free Stock Analysis Report 3M Company (MMM) : Free Stock Analysis Report Graco Inc. (GGG) : Free Stock Analysis Report Carlisle Companies Incorporated (CSL) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Griffon Corporation GFF reported third-quarter fiscal 2026 (ended June 2026) adjusted earnings of $1.51 per share, which beat the Zacks Consensus Estimate of $1.33. The bottom line increased 8.6% year over year.Total revenues of $481.4 million beat the consensus estimate of $453 million and increased 7% year over year. The growth was attributable to favorable price and mix of 6%, along with increased volumes of 1%, driven primarily by residential. Effective from the fiscal second quarter, Griffon declared its AMES U.S., Canada, UK and Australia businesses as discontinued operations. The company currently reports the continuing operations’ financial results as a single segment. Griffon Corporation price-consensus-eps-surprise-chart | Griffon Corporation Quote Griffon’s cost of sales increased 10.6% year over year to $255.3 million. Selling, general and administrative expenses increased 3.0% year over year to $110.6 million. The gross margin decreased to 47.0% from 48.7% in the year-ago period. Net income was $51.6 million against a net loss of $120.1 million in the prior-year quarter. The company’s adjusted EBITDA from continuing operations totaled $124.8 million, up 2.1% from the year-ago quarter. At the end of the fiscal third quarter, Griffon had cash and cash equivalents of $110.4 million compared with $99.0 million at the end of fiscal 2025 (ended September 2025). Long-term debt, net of current maturities, was $1.26 billion at the end of the fiscal third quarter compared with $1.40 billion at fiscal 2025-end. In the first nine months of fiscal 2026, the company generated net cash of $217.9 million from operating activities from continuing operations compared with $234.5 million in the year-ago period. Griffon paid dividends of $30.9 million and repurchased shares worth $119.1 million in the same period. Exiting the fiscal third quarter, it had $193.8 million remaining under the share repurchase program. In the first nine months of fiscal 2026, free cash flow from continuing operations was $194.2 million and capital expenditures were $23.7 million. The company has reaffirmed its fiscal 2026 financial guidance. For fiscal 2026 (ending September 2026), management anticipates net sales from continuing operations to be $1.8 billion. It expects adjusted EBITDA to be approximately $458 million. For the fiscal year, Griffon now expects interest expense of $80 million, down from the prior expectation of $93 million, reflecting reduced debt and interest income from transaction-related notes receivable. Capital expenditures are expected to be $50 million. The company currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. Carlisle Companies Incorporated CSL reported second-quarter 2026 adjusted earnings of $7.03 per share, which beat the Zacks Consensus Estimate of $6.43 by 9.3%. The bottom line increased 12% year over year. Revenues rose 8% year over year to a record $1.57 billion and surpassed the consensus estimate of $1.47 billion. 3M Company MMM reported second-quarter 2026 adjusted earnings of $2.40 per share, which surpassed the Zacks Consensus Estimate of $2.27 by 5.7%. The bottom line increased 11% year over year.MMM’s adjusted net revenues of $6.5 billion topped the consensus estimate of $6.4 billion and grew 5.5%. On an adjusted basis, organic revenues increased 5.4% year over year. Graco Inc. GGG reported second-quarter 2026 adjusted earnings of 91 cents per share, up 17% from 78 cents in the year-ago quarter. The bottom line surpassed the Zacks Consensus Estimate of 81 cents by 12.4%.The company’s net sales rose 3% year over year to $590.6 million but lagged the consensus estimate of $609 million by 3%. Organic order backlog (excluding acquisitions) rose 28% from the end of 2025. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Griffon Corporation (GFF) : Free Stock Analysis Report 3M Company (MMM) : Free Stock Analysis Report Graco Inc. (GGG) : Free Stock Analysis Report Carlisle Companies Incorporated (CSL) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

This article first appeared on GuruFocus. Revenue: Record $1.6 billion, an increase of 8% year-over-year. Adjusted EPS: Record $7.03, an increase of 12% year-over-year. Adjusted EBITDA: $412 million, an increase of 6% year-over-year, with a margin of 26.2% (down 70 basis points). CCM Revenue: Record $1.2 billion, an increase of 8% year-over-year. CCM Adjusted EBITDA: $363 million, with a margin of 30.7% (down 90 basis points). CWT Revenue: $389 million, an increase of 10% year-over-year. CWT Adjusted EBITDA: $74 million, with a margin of 19% (down 90 basis points year-over-year, but up 380 basis points sequentially). Operating Cash Flow: $244 million from continuing operations. Free Cash Flow: $203 million from continuing operations. Capital Expenditures: $42 million. Share Repurchases: $250 million in the quarter, bringing year-to-date purchases to $500 million. Dividends: $90 million returned to shareholders in the first half of 2026. Net Debt to EBITDA: 1.7 times. Full Year 2026 Outlook: Revenue growth raised to mid-single digits; adjusted EBITDA margin expected to be flat year-over-year. Reroofing Demand: Grew approximately 3% in the quarter; full year outlook of 3% to 4% growth. New Construction: Declined mid-single digits in the quarter; full year outlook of down low single digits. Warning! GuruFocus has detected 3 Warning Sign with SPOK. Is CSL fairly valued? Test your thesis with our free DCF calculator. Release Date: July 29, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Record second quarter revenue of $1.6 billion, up 8% year-over-year, driven by strong performance in both CCM and CWT segments. Record adjusted EPS of $7.03, a 12% increase year-over-year, supported by higher operating earnings and share repurchases. Healthy reroofing demand grew approximately 3%, underpinning resilience with over 70% of sales from noncyclical reroofing. Successful execution of strategic initiatives, including traction in data centers and new product launches like ThermaThin 7 polyiso insulation. Increased full-year share repurchase target to $1.2 billion, reflecting strong cash generation and commitment to shareholder returns. Adjusted EBITDA margin declined 70 basis points to 26.2% due to raw material and freight cost inflation outpacing pricing realization. Negative price-cost impact of approximately $40 million in CCM during Q2, with margins expected to remain pressured until Q4. Continued softness in new construction markets, with commercial new construction declining mid-single digits and no recovery assumed for 2026. Supply chain disruptions and force majeure events from the Middle East conflict led to elevated costs and MDI supply constraints. CWT segment margins down 90 basis points year-over-year, with residential and nonresidential new construction end markets remaining weak. Here are the key highlights from the Carlisle Companies Inc (NYSE:CSL) Q2 2026 earnings call, presented as summarized Q&A pairs. Q: What drove the strong 8% organic growth in CCM, and what is the outlook for pricing realization? A: (Kevin Zdimal, CFO) The growth was driven by healthy reroofing demand (up ~3%), strong commercial execution, and strategic initiatives, with a couple of percentage points from customer pre-buying ahead of price increases. Pricing realization was low single digits in Q2, but we expect it to ramp to mid-single digits in Q3 and high single digits in Q4 as the three announced price increases fully flow through. Q: What is the updated full-year 2026 outlook, and what is driving the change in margin expectations? A: (Kevin Zdimal, CFO) We are raising our full-year revenue outlook to mid-single-digit growth but lowering our margin outlook to reflect flat adjusted EBITDA margins year-over-year. This change is entirely due to the extended conflict in the Middle East causing higher raw material and freight costs. We expect pricing to recover these costs, but with a lag, turning positive in Q4. We still expect double-digit adjusted EPS growth and a free cash flow margin of ~15%. Q: Can you provide more detail on the price/cost impact in dollars and how it affects the margin guide? A: (Kevin Zdimal, CFO) The margin move was 100% related to price/cost timing. In Q2, the price/cost impact was a negative of about $40 million at CCM and a couple of million at CWT. We expect to get back to neutral in Q3 and turn slightly positive in Q4. The additional revenue from pricing, without the corresponding EBITDA dollars, has a dilutive impact on margins. Q: How are new products like ThermaThin 7 positioning the company to achieve its Vision 2030 targets? A: (Dale Koch, Chairman, President & CEO) Innovation is a key axis of our strategy. ThermaThin 7, which delivers 23% higher R-value per inch, creates tangible value for contractors by reducing material layers, roof height, and installation time. This allows us to increase revenue per square foot and improve margins by sharing the value created across the chain. We are on track to achieve our goal of 25% of sales from products introduced in the past five years. Q: Is CWT turning the corner, and can it return to 2023 margin levels? A: (Dale Koch, Chairman, President & CEO) The team is making excellent progress on self-help initiatives like automation, footprint consolidation, and new product launches. However, the business needs a market recovery in residential and non-residential new construction to see a significant margin step-up. The incremental margin on volume is around 33% to 35%, so margins will improve much faster once volume returns. We are not assuming a market recovery in 2026. Q: What are the key share gain initiatives driving CWT's 8% organic growth despite end-market softness? A: (Kevin Zdimal, CFO) The growth is coming from several initiatives: advanced waterproofing (growing over 50%, contributing ~$15 million), the UltraTouch denim insulation launch at Home Depot (~$4-5 million), a new direct-to-contractor spray foam delivery model (~$10 million), and base share gains in wood coatings and roofing underlayment. Q: What is the biggest driver of success for the Carlisle Operating System (COS) at the Henry acquisition? A: (Dale Koch, Chairman, President & CEO) The number one driver is culture. When we implement COS, it brings people together. Coupled with our "two-in-the-box" integration methodology, it creates a framework that the Henry team embraced. This cultural alignment, combined with a commitment to safety and efficiency, has been key to exceeding our initial synergy targets by 65% despite challenging end markets. Q: What are the specific margin expectations for CCM and CWT for the remainder of 2026? A: (Kevin Zdimal, CFO) For CCM, we expect Q3 EBITDA margins around 29% and Q4 around 28%, resulting in a full-year margin of about 29%. For CWT, we expect full-year EBITDA margins to be up 100 basis points, with about 250 basis points of improvement in both Q3 and Q4. Q: Has the tight MDI supply impacted Carlisle's operations? A: (Dale Koch, Chairman, President & CEO) We have been able to secure our supply of MDI, and we appreciate the commitment from our supply chain partners. However, we believe other companies in the market may be more constrained due to the supply issues, which are not all related to the Gulf conflict but also include issues with chlorine and other inputs. Q: What is the company's stance on the recent rumors regarding a potential acquisition of Owens Corning? A: (Dale Koch, Chairman, President & CEO) Carlisle does not comment on rumors or speculation. Our capital allocation strategy remains disciplined, focused on targets within the building envelope that meet our four criteria: an organic growth story, tangible hard cost synergies, a strong management team, and the ability to deploy our integration playbook. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Find your next quality investment with Simply Wall St's easy and powerful screener, trusted by over 7 million individual investors worldwide. Carlisle Companies (CSL) is back in focus after reporting record second quarter 2026 revenue of about $1.6b, stronger than expected adjusted earnings, and a higher full year revenue growth outlook. See our latest analysis for Carlisle Companies. The latest Q2 report and higher revenue outlook have shifted attention back to Carlisle Companies, with the share price jumping 10.56% in the last day and 11.56% over the past week. The 1-year total shareholder return of 5.58% contrasts with a much stronger 5-year total shareholder return of 91.37%, which suggests recent momentum is rebuilding after a period of slower progress. If Carlisle’s latest move has you watching building and infrastructure trends more closely, it could be a good time to look at AI infrastructure plays using the Simply Wall St screener for 56 AI infrastructure stocks. Bulls point to Carlisle Companies’ record Q2 revenue, raised growth outlook, and active buybacks. Bears highlight margin pressure and only modest 1-year returns. Which side does the current valuation evidence support next? Carlisle Companies last closed at $369.88, while the most followed narrative pegs fair value at $410.14. This puts the current rally in sharper context. Read the complete narrative. Want to see what is baked into that $410.14 fair value for Carlisle Companies? The narrative leans on steady revenue, rising margins, and shrinking share count. Curious how those ingredients combine into the current discount and the long term earnings path? Result: Fair Value of $410.14 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, Carlisle Companies still faces pressure from softer construction demand and flat pricing, which could limit the margin and earnings progress assumed in this narrative. Find out about the key risks to this Carlisle Companies narrative. There are mixed signals on Carlisle Companies so far. If you want to move quickly and decide where you stand, review the balance of its 3 key rewards and 1 important warning sign Do not stop with Carlisle Companies. Use this momentum to widen your watchlist with fresh ideas that match your goals and risk comfort. Spot potential value opportunities early by checking companies that feature in the 57 high quality undervalued stocks. Strengthen your focus on resilience by reviewing stocks in the 89 resilient stocks with low risk scores. Hunt for under-the-radar potential by scanning the screener containing 20 high quality undiscovered gems. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include CSL. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]