CSL

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]

Interested in Carlisle Companies Incorporated? Here are five stocks we like better. Record Q2 results: Revenue rose 8% year over year to $1.6 billion and adjusted EPS increased 12% to $7.03, driven by reroofing demand, commercial execution and strategic initiatives despite weakness in new construction. Outlook reflects cost pressure: Carlisle raised its full-year revenue-growth forecast to the mid-single digits but cut its adjusted EBITDA margin outlook by 50 basis points to flat year over year. Pricing actions are expected to offset inflation progressively, turning price-cost performance positive by the fourth quarter. Share gains and capital returns continue: CWT revenue increased 10% while automation and footprint initiatives supported sequential margin improvement; Carlisle raised its 2025 share-repurchase target to $1.2 billion after buying back $500 million year to date. Carlisle Companies (NYSE:CSL) reported record second-quarter revenue and adjusted earnings per share as reroofing demand, commercial execution and strategic growth initiatives offset continued weakness in new construction markets and rising input costs. Revenue rose 8% year over year to a record $1.6 billion, while adjusted EPS increased 12% to a record $7.03, according to Chief Financial Officer Kevin Philip. Adjusted EBITDA increased 6% to $412 million, though the adjusted EBITDA margin declined 70 basis points to 26.2% as raw-material and freight costs rose faster than pricing realization. → This Tiny AI Supplier Could Be More Important Than the Chipmakers The company raised its full-year revenue outlook to mid-single-digit growth but reduced its margin outlook by 50 basis points, now expecting adjusted EBITDA margin to be flat year over year. Management cited petroleum-based raw-material inflation, freight costs, supplier force majeure events and supply-chain disruptions associated with the Middle East conflict. Philip said Carlisle implemented three broad-based price increases and freight surcharges in response to higher costs affecting its roofing and insulation product lines. The company expects price realization to build during the second half, reaching mid-single-digit growth in the third quarter and high-single-digit growth in the fourth quarter. → Refiner Stocks Are Near Record Highs—Can Iran-Driven Margins Keep Them There? “Price realization typically lags rising costs,” Philip said, noting that committed quotes and customer notification periods contributed to negative price-cost effects in the second quarter. He said pricing is expected to turn positive in the fourth quarter. In response to an analyst question, Philip said the second-quarter price-cost impact at Carlisle Construction Materials, or CCM, was approximately negative $40 million. He expects the business to return to roughly neutral price-cost performance in the third quarter and become modestly positive in the fourth quarter. → Innovative ETF Strategies That Are Paying Off This Summer CCM, Carlisle’s largest segment, posted record revenue of $1.2 billion, up 8% from a year earlier. Reroofing demand grew approximately 3%, while commercial new construction declined by the mid-single digits. Customer purchases ahead of announced price increases contributed a couple of percentage points to growth, management said. CCM adjusted EBITDA rose 5% to $363 million, while its adjusted EBITDA margin fell 90 basis points to 30.7%. Philip said higher volumes helped offset elevated inflation, allowing the segment to maintain a margin above 30%. Christian David, Carlisle’s board chair, president and CEO, said the overall market was “pretty much flat,” with data centers representing a relatively stronger area. He said some data-center specifications are opening to premium TPO roofing products as an alternative to PVC, which has faced supply constraints. David also said Carlisle has been able to secure supplies of MDI, an input used in insulation products, despite tightening availability. He said other market participants could face greater constraints, though Carlisle did not provide details on competitors’ supply positions. Carlisle Weatherproofing Technologies, or CWT, increased revenue 10% to $389 million, as share-gain initiatives more than offset softness in residential and non-residential construction. Adjusted EBITDA increased 5% to $74 million, and adjusted EBITDA margin was 19%, down 90 basis points from the prior year but up 380 basis points sequentially from the first quarter. Management attributed the sequential margin improvement to investments in automation, footprint consolidation and in-house expanded polystyrene resin capacity. Mehul Patel, vice president of investor relations, said those initiatives are expected to produce about $20 million of full-year margin expansion. Automation contributed approximately $3 million during the second quarter. Footprint consolidation added about $1 million. In-house expanded polystyrene capability contributed roughly $2 million to $3 million. Patel said CWT’s share gains are being supported by waterproofing, spray foam and insulation initiatives. Advanced waterproofing products are expected to contribute approximately $15 million this year, while a direct-to-contractor spray foam strategy is expected to add about $10 million. UltraTouch Denim insulation, sold through Home Depot stores, is expected to contribute $4 million to $5 million this year. For the second half, Carlisle assumes CWT end markets will remain weak, with overall markets down about 2%. Management expects residential new construction to be down low single digits and commercial new construction to decline by the mid-single digits. CWT revenue is still projected to increase by the mid-single digits for the full year, aided by share gains and pricing. David said innovation remains central to Carlisle’s goal of delivering more than 5% organic growth. The company shipped its first orders of ThermaThin 7 polyiso insulation in June, ahead of schedule. Carlisle said the product provides approximately 23% higher R-value per inch than standard polyiso insulation in many conditions. The company plans to launch about a dozen new products in 2026, with half already introduced. Additional launches include a high-yield closed-cell spray foam product scheduled for August. Carlisle remains on track toward its Vision 2030 goal of generating 25% of total sales from products introduced during the prior five years. At June 30, Carlisle had $665 million in cash and cash equivalents, $1 billion available under its revolving credit facility, and net debt to EBITDA of 1.7 times. Second-quarter operating cash flow from continuing operations was $244 million, while free cash flow was $203 million. The company repurchased $250 million of shares in the quarter, bringing year-to-date repurchases to $500 million. Carlisle increased its full-year repurchase target to $1.2 billion from $1 billion and returned $590 million to shareholders in the first half, including $90 million in dividends. Management continues to expect full-year return on invested capital of approximately 25%, free-cash-flow margin of approximately 15% and double-digit adjusted EPS growth. Carlisle reiterated its Vision 2030 targets of $40 in adjusted EPS and return on invested capital above 25%. Carlisle Companies Inc is a diversified global manufacturer serving a broad array of markets with engineered products, systems and solutions. The company's operations span several core business segments, including construction materials, fluid technologies, interconnect technologies, brake and friction systems, and engineered products. Carlisle is known for its expertise in developing high-performance building envelope solutions, precision-engineered hoses and fluid-handling components, lightweight interconnect systems for aerospace and defense, and heavy-duty brake and friction products. Within its construction materials segment, Carlisle offers single-ply roofing membranes, polyiso insulation, and waterproofing systems designed for commercial and industrial buildings. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Carlisle Companies Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Record results were driven by the non-cyclical nature of reroofing demand, which accounts for over 70% of sales and grew approximately 3% during the quarter. Management attributed the 8% revenue growth to strong commercial execution and strategic initiatives, including improved traction in data centers, which offset mid-single-digit declines in new construction. Adjusted EBITDA margins faced a 70-basis-point headwind due to a lag between rising petroleum-based raw material costs and the implementation of price increases. The CWT segment achieved a 380-basis-point sequential margin improvement, validating structural efficiency initiatives like automation and in-house resin capacity. Strategic positioning in the data center market is evolving as management shifts specs from PVC to premium TPO to address supply constraints and meet end-user demand. The Carlisle Operating System (COS) continues to serve as a primary tool for mitigating inflation through productivity gains and the integration of robotic equipment to reduce scrap and improve safety. Full-year revenue guidance was raised to mid-single-digit growth, assuming no recovery in the new construction market for the remainder of 2026. EBITDA margin outlook was lowered by 50 basis-points to 'flat' for the year, reflecting the impact of extended Middle East conflict disruptions on raw material and freight costs. Management expects price realization to build through the second half of the year, with price-cost dynamics turning positive in the fourth quarter. Vision 2030 targets remain intact, with a goal to generate 25% of total sales from products introduced within the last five years, supported by the new Research and Innovation Center. The company increased its full-year share repurchase target from $1 billion to $1.2 billion, citing the stock's intrinsic value relative to current market levels. Supply chain disruptions and supplier force majeure events in the Middle East have significantly increased costs for key inputs in roofing and insulation lines. Management addressed market rumors regarding a potential acquisition of Owens Corning by reiterating their policy of not commenting on speculation. The M&A environment remains challenging as seller valuation expectations remain elevated relative to Carlisle's disciplined internal thresholds. Carlisle is set to announce its 50th consecutive annual dividend increase, a milestone management views as a testament to the durability of their capital allocation model. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management explained that new products like ThermaThin R-7 create value by reducing labor, crane lifts, and material layers, allowing Carlisle to capture higher margins while saving costs for contractors. Innovation is viewed as a primary differentiator that will distance the company from competitors through proprietary building envelope technology and code-driven expertise. Management confirmed that while they have secured their own MDI supply, the broader market is facing constraints due to issues with chlorine and Gulf-related disruptions. CCM EBITDA margins are projected at approximately 29% for Q3 and 28% for Q4, with price-cost expected to reach neutrality in Q3 before turning positive. CWT's sequential margin improvement was supported by $20 million in annualized self-help initiatives, including $3 million from automation and $2-3 million from in-house resin production. Management signaled a preference for bolt-on acquisitions that offer hard cost synergies rather than transformative deals that might dilute their ROIC-focused model.

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. 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 Companies Incorporated price-consensus-eps-surprise-chart | Carlisle Companies Incorporated Quote 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. CSL 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, CSL generated net cash of $197.1 million from operating activities compared with $288.9 million in the year-ago period.During the same period, CSL 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%. The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 3M Company MMM delivered 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. The results were supported by strength in general industrial, safety and electronics end markets.Honeywell Technologies HON reported second-quarter 2026 adjusted earnings of $1.95 per share, which surpassed the Zacks Consensus Estimate of $1.80. The bottom line increased 10% year over year on an adjusted basis. On a reported basis, the company’s earnings were $16.65 per share compared with $1.21 in the year-ago quarter, reflecting the impact of a one-time gain related to the deconsolidation of Quantinuum.Total revenues of $5.19 billion surpassed the consensus estimate of $4.98 billion. The top line increased 3% from the year-ago quarter, driven by strength in the Building Automation and Industrial Automation segments. Organic sales increased 4% year over year.Constellium SE CSTM came out with quarterly earnings of $1.04 per share in the second quarter of 2026, beating the Zacks Consensus Estimate of $0.91 per share. This compares with earnings of $0.25 per share a year ago.Constellium posted revenues of $2.75 billion for the quarter ended June 2026, missing the Zacks Consensus Estimate by 3.5%. This compares with year-ago revenues of $2.1 billion. 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 Honeywell International Inc. (HON) : Free Stock Analysis Report 3M Company (MMM) : Free Stock Analysis Report Constellium SE (CSTM) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

SCOTTSDALE, Ariz., July 29, 2026--(BUSINESS WIRE)--Carlisle Companies Incorporated (NYSE:CSL) today announced its second quarter 2026 financial results. Record revenue of $1.6 billion, up 8% year-over-year Record diluted EPS of $6.36 and record adj. EPS of $7.03, up 12% year-over-year Operating margin of 22.4% and adj. EBITDA margin of 26.2% Repurchased $250 million of shares, increasing share repurchase target to $1.2 billion for 2026 Increasing FY 2026 revenue outlook to mid-single-digit growth with flat adj. EBITDA margin Comments from Chris Koch, Chair, President and Chief Executive Officer "Our record second quarter results reflect the Carlisle team's relentless focus on execution and operational discipline in a challenging macroeconomic environment. We delivered record revenue of $1.6 billion, up 8% year-over-year, and record adjusted EPS of $7.03, up 12%. Our teams drove above-market growth in both CCM and CWT through continued execution of our strategic growth initiatives. We focused on the factors within our control: swift pricing actions, disciplined cost management, and continued progress on innovation. We remain committed to advancing our Vision 2030 strategy through organic growth, bolt-on acquisitions, margin expansion, increased free cash flow, and disciplined capital allocation. "Our record revenue was driven by above-market volume growth from continued execution of strategic initiatives, solid re-roofing demand, and customer pre-buying activity ahead of announced price increases. Our margin performance remained resilient despite continued market headwinds, reflecting the benefits of our operational efficiency initiatives and our unwavering commitment to operational excellence. Adjusted EBITDA margin was 30.7% at CCM and 19.0% at CWT, each in line with our expectations, even as elevated input costs outpaced pricing realization during the quarter. Notably, CWT's adjusted EBITDA margin improved 380 basis points compared to the prior quarter, aided by our investments in automation, manufacturing consolidation, and the expansion of in-house expanded polystyrene resin capacity, which all continued to gain traction. "The most significant, and well-understood, external challenge in the quarter was the rapid rise in petroleum-derived raw material and freight costs driven by the conflict in the Middle East. We acted decisively to recover our costs through freight surcharges and broad-based price increases across CCM and CWT, implemented in April and July, with a third increase taking effect in August. As we have experienced in prior raw material inflationary cycles, pricing realization typically lags cost inflation, and we expect the benefit of our pricing actions to build through the second half of 2026 and into 2027. "We also continued to advance our innovation pipeline to support our Vision 2030 objectives. We have launched roughly half of our planned new products for 2026, highlighted by the first commercial shipment of our award-winning ThermaThin 7 polyiso insulation. ThermaThin 7 enables thinner roof assemblies, lower freight costs from fewer truckloads, and superior cold weather thermal performance. We remain on track to introduce the balance of this year's new products and continue to invest in our research and innovation center to support long-term growth. "Our strong balance sheet continues to support our balanced and disciplined approach to capital allocation. During the quarter, we repurchased $250 million of shares, and we have increased our full-year target for repurchases to $1.2 billion. Our M&A framework remains unchanged: disciplined, synergistic building envelope acquisitions that enhance our systems offering, increase content per square foot, and meet our strict returns criteria. "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 with flat adjusted EBITDA margin. This outlook reflects disciplined execution, partial recovery of higher raw material and freight costs, and easier comparisons. It does not assume a near-term recovery in new construction markets. With the strength of our imperative business model, resilient re-roofing demand, and our leadership position in North America, we remain confident in our path to $40 of adjusted EPS and 25%-plus ROIC under Vision 2030." Second Quarter 2026 Financial Summary Second Quarter 2026 Segment Highlights Carlisle Construction Materials ("CCM") CCM revenue increased 8% (8% organic) to a record $1,181 million, driven by strong volume growth from continued execution of strategic initiatives and solid re-roofing demand, partially offset by continued softness in commercial new construction activity. CCM operating income increased 4% to $338 million, and adjusted EBITDA increased 5% to $363 million, reflecting an adjusted EBITDA margin of 30.7%, down 90 basis points year-over-year, as higher volumes, Carlisle Operating System productivity gains and cost controls were more than offset by elevated raw material and freight cost inflation that outpaced pricing realization in the quarter. Carlisle Weatherproofing Technologies ("CWT") CWT revenue increased 10% (8% organic) to $389 million, as share gains more than offset continued softness in residential and non-residential new construction end markets. CWT operating income decreased 2% to $42 million, and adjusted EBITDA increased 5% to $74 million, reflecting an adjusted EBITDA margin of 19.0%, down 90 basis points year-over-year. This margin decrease reflects the impact of raw material and freight cost inflation, partially offset by the ongoing benefit of operational improvements, including the consolidation of our manufacturing footprint and the expansion of our in-house expanded polystyrene resin capacity. Cash Flow For the six months ended June 30, 2026, cash provided by operating activities was $197 million, and free cash flow from continuing operations was $130 million. During the six months ended June 30, 2026, we invested $70 million in capital expenditures. We also returned $590 million to shareholders through $500 million of share repurchases and $90 million of dividends. As of June 30, 2026, we had $665 million in cash and cash equivalents and $1.0 billion available under our revolving credit facility. 2026 Outlook FY 2026 consolidated revenues up mid-single-digit percentage year-over-year FY 2026 adjusted EBITDA margins flat Conference Call and Webcast Carlisle will discuss second quarter 2026 results on a conference call at 5:00 p.m. ET today. The call can be accessed via webcast, along with related materials, at www.carlisle.com/investors/events-and-presentations and via telephone as follows: Domestic toll free: 833-461-5787International: 626-884-3620Conference ID: 676 942 549 Forward-Looking Statements This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, about our expectations, plans, objectives, future financial performance and other matters that are not historical facts. You can identify these forward-looking statements by our use of words such as "anticipate," "believe," "continues," "estimate," "expect," "forecast," "foresee," "intends," "may," "plans," "project," "pursue," "should," "will" and similar expressions. We cannot guarantee that any forward-looking statement will be realized, although we believe that we have been prudent in our plans, estimates and assumptions. Such statements are made based on known events and circumstances at the time of publication and, as such, are subject in the future to unforeseen risks and uncertainties and to assumptions that may prove to be inaccurate. It is possible that our future performance may differ materially from current expectations expressed in, or implied by, these forward-looking statements due to a variety of factors, including: increasing price and product/service competition by foreign and domestic competitors, including new entrants; significant reliance on our key customers; damage to, or prolonged disruption of, our manufacturing facilities; technological developments and changes; the ability to continue to introduce competitive new products and services on a timely, cost-effective basis; our mix of products/services; increases in raw material costs that cannot be recovered in product pricing; domestic and foreign governmental and public policy changes including environmental and industry regulations; the ability of our customers to maintain appropriate labor levels under U.S. immigration laws, policies and practices; the ability to meet our goals relating to our intended reduction of greenhouse gas emissions, including our net zero commitments; threats associated with, and efforts to combat, terrorism; protection and validity of patent and other intellectual property rights; the identification of strategic acquisition targets and our successful completion of any transaction and integration of our strategic acquisitions; the cyclical nature of our businesses; the impact of information technology, cybersecurity, artificial intelligence or data security breaches at our businesses or third parties; the outcome of pending and future litigation, including product liability claims, and governmental proceedings; general industry and market conditions and growth rates, the condition of the financial and credit markets and general domestic and international economic conditions, including inflation, interest rate and currency exchange rate fluctuations, and tariffs; any conflict in the international arena, including the Russian invasion of Ukraine and war in the Middle East; and the other factors discussed in the reports we file with, or furnish to, the Securities and Exchange Commission from time to time. Any forward-looking statement speaks only as of the date on which that statement is made, and we undertake no duty to update any forward-looking statement to reflect events or circumstances, including unanticipated events, after the date on which that statement is made, unless otherwise required by law. New factors emerge from time to time, and it is not possible for us to predict all of those factors, nor can we assess the impact of each of those factors on the business. Non-GAAP Disclosure Carlisle reports its financial results in accordance with the U.S. generally accepted accounting principles (GAAP). This press release also contains certain financial measures such as adjusted EPS, adjusted EBITDA, adjusted EBITDA margin, organic revenue, and free cash flow that are not recognized under GAAP. Management believes that adjusted EPS, adjusted EBITDA, adjusted EBITDA margin, and organic revenue are useful to investors because they allow for comparison to Carlisle’s and its segments' performance in prior periods without the effect of items that, by their nature, tend to obscure core operating results due to potential variability across periods based on the timing, frequency and magnitude of such items. Management believes free cash flow is useful to investors as an additional way of viewing Carlisle's liquidity and provides a more complete understanding of factors and trends affecting Carlisle's cash flows. As a result, management believes that these measures enhance the ability of investors to analyze trends in Carlisle’s businesses and evaluate Carlisle’s performance relative to similarly-situated companies. Reconciliations of these measures to amounts reported in Carlisle's consolidated financial statements are in the supplemental schedules of this press release. These non-GAAP financial measures may not be comparable to similarly titled measures reported by other companies. Carlisle is not providing reconciliations for forward-looking non-GAAP financial measures because Carlisle does not provide GAAP financial measures on a forward-looking basis as Carlisle is unable to predict with reasonable certainty the ultimate outcome of adjusted items without unreasonable effort. These items are uncertain, depend on various factors, and could be material to Carlisle's financial results computed in accordance with GAAP. About Carlisle Companies Incorporated Carlisle Companies Incorporated is a leading supplier of innovative building envelope products and solutions for more energy efficient buildings. Through its building products businesses – Carlisle Construction Materials ("CCM") and Carlisle Weatherproofing Technologies ("CWT") – and family of leading brands, Carlisle delivers innovative, labor reducing and environmentally responsible products and solutions to customers through the Carlisle Experience. Carlisle is committed to generating superior shareholder returns and maintaining a balanced capital deployment approach, including investments in our businesses, strategic acquisitions, share repurchases and continued dividend increases. Leveraging its culture of continuous improvement as embodied in the Carlisle Operating System ("COS"), Carlisle has committed to achieving net-zero greenhouse gas emissions by 2050. *EPS referenced in this release is from continuing operations unless otherwise noted. Carlisle Companies IncorporatedUnaudited Non-GAAP Financial Measures - Organic Revenue Organic revenue (defined as revenues excluding revenue from acquisitions completed within the last 12 months and the impact of changes in foreign exchange rates versus the U.S. Dollar) is intended to provide investors and others with information about Carlisle's and its segments' recurring operating performance. This information differs from revenue determined in accordance with accounting principles generally accepted in the United States of America ("GAAP") and should not be considered in isolation or as a substitute for measures of performance determined in accordance with GAAP. Carlisle's and its segments' organic revenue follows, which may not be comparable to similarly titled measures reported by other companies. Carlisle Companies IncorporatedUnaudited Non-GAAP Financial Measures - Free Cash Flow Free cash flow (defined as net cash provided by operating activities less capital expenditures) is intended to provide investors and others with information about Carlisle's liquidity and provides a more complete understanding of factors and trends affecting Carlisle's cash flows. This information differs from operating cash flow determined in accordance with GAAP and should not be considered in isolation or as a substitute for measures of performance determined in accordance with GAAP. Carlisle's free cash flow follows, which may not be comparable to similarly titled measures reported by other companies. Carlisle Companies IncorporatedUnaudited Non-GAAP Financial Measures - EBIT, Adjusted EBIT, Adjusted EBITDA and Adjusted EBITDA Margin Earnings before interest and taxes ("EBIT") (defined as net income excluding income/loss from discontinued operations, interest expense, interest income, and provision for income taxes), adjusted EBIT (defined as EBIT excluding gains/losses and costs from acquisitions, dispositions, restructuring, impairment, casualty losses and insurance recoveries, legal settlements, pension settlements, and debt extinguishment), adjusted earnings before interest, taxes, depreciation and amortization ("EBITDA") (defined as adjusted EBIT excluding depreciation and amortization) and adjusted EBITDA margin (defined as adjusted EBITDA divided by total revenues) are intended to provide investors and others with information about Carlisle's and its segments' performance without the effect of items that, by their nature, tend to obscure core operating results due to potential variability across periods based on the timing, frequency and magnitude of such items. As a result, management believes that these measures enhance the ability of investors to analyze trends in Carlisle's businesses and evaluate Carlisle's performance relative to similarly-situated companies. This information differs from net income and operating income determined in accordance with GAAP and should not be considered in isolation or as a substitute for measures of performance determined in accordance with GAAP. Carlisle's and its segments' EBIT, adjusted EBIT, adjusted EBITDA and adjusted EBITDA margin follows, which may not be comparable to similarly titled measures reported by other companies. View source version on businesswire.com: https://www.businesswire.com/news/home/20260729939261/en/ Contacts Mehul PatelVice President, Investor Relations(310) [email protected]