Carlisle Companies (CSL) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue was $1.1 billion, down 4% year-over-year, impacted by adverse winter weather, new construction softness, and the absence of prior-year tariff-related order pull-forward.

• Adjusted EPS rose 1% to $3.63, and adjusted EBITDA margin expanded by 50 basis points to 22.3%, driven by productivity, manufacturing efficiency, and cost discipline.

• Disciplined execution on Vision 2030 priorities and strategic pricing actions helped offset raw material inflation and volume headwinds.

• Reroofing activity grew low single digits, providing a stable demand base, while new construction remained soft.

• Continued progress on innovation, with new product launches and industry recognition.

Financial highlights

• Adjusted EBITDA was $234.6 million (22.3% margin), up 50 basis points year-over-year.

• Adjusted EPS was $3.63, up 1% year-over-year, aided by share repurchases.

• Operating income was $180.3 million (17.1% margin), net income from continuing operations was $127.7 million, and diluted EPS was $3.10.

• Net cash used in operating activities was $44.7 million; free cash flow used was $73 million, including a $125 million tax settlement.

• $771 million in cash and $1 billion available under the revolving credit facility as of March 31, 2026.

Outlook and guidance

• Reaffirmed full-year 2026 outlook: low single-digit revenue growth and ~50 basis points of adjusted EBITDA margin expansion.

• Now expects consolidated revenue growth at the higher end of the low single-digit range (about 3%), driven by price increases.

• Double-digit EPS growth expected for the full year.

• Price increases are expected to offset high single-digit raw material inflation, resulting in a neutral price-cost dynamic for the year.

• CCM and CWT segments expected to achieve low single-digit revenue growth for FY 2026.