Carlisle reports Q1 EPS $3.63, consensus $3.33

Reports Q1 revenue $1.05B, consensus $1.06B. “Carlisle (CSL) reported strong first quarter results despite challenges associated with the Middle East conflict, housing affordability, and weather. Our team executed with discipline against our Vision 2030 priorities, delivering adjusted EPS of $3.63 and increasing adjusted EBITDA margin by 50 basis points. Revenue of $1.1 billion was impacted by unfavorable winter weather conditions that constrained contractors’ days on the roof throughout the quarter into early March. The quarter was shaped by three themes: our swift pricing response to oil-driven cost inflation, our disciplined execution in protecting margins, and our continued progress on innovation and other strategic priorities. While the cost of our raw materials does not fully correlate with oil price fluctuations, the magnitude and increasing duration of elevated oil prices has impacted our petrochemical-linked raw material inputs. We have responded quickly to this cost inflation by announcing price increases across CCM and CWT. In addition to the March price announcements, we announced a second round of price increases at CCM today to offset the additional cost pressures driven by the continued disruption in the petrochemical supply chain. With respect to freight rates, we increased freight surcharges today in addition to the surcharges put in place in March”