Q1 2025 Carlisle Companies Inc Earnings Call Transcript
Key Points
- Carlisle Companies Inc (CSL) reported solid first-quarter results despite significant challenges, including unfavorable weather and economic uncertainty.
- The company maintained a strong focus on reroofing activity, which represents 70% of its commercial business, helping to offset negative macroeconomic conditions.
- Carlisle Companies Inc (CSL) successfully integrated its 2024 MTL acquisition, exceeding synergy expectations and contributing positively to the company's performance.
- The company reaffirmed its 2025 outlook, expecting mid-single-digit revenue growth and adjusted EBITDA margin expansion of approximately 50 basis points.
- Carlisle Companies Inc (CSL) continues to invest in innovation, with new product introductions and factory automation expected to provide incremental adjusted EBITDA gains.
- The company faced continued weakness in residential construction markets due to buyer uncertainty, affordability challenges, and higher interest rates.
- First-quarter revenue was essentially flat year-over-year, with adjusted EBITDA margin down 240 basis points compared to the prior year.
- Pricing across both CCM and CWT segments experienced modest declines, with low single-digit price declines during the quarter.
- The indirect impact of tariffs remains difficult to quantify, with potential unforeseen consequences for contractors, distributors, and suppliers.
- Cash generation in the first quarter was lighter than usual due to higher year-end liabilities and unfavorable weather impacting shipping patterns.
Good afternoon. My name is John, and I will be your operator for today. At this time, I would like to welcome everyone to Carlisle company's first quarter 2025 earnings conference call. (Operator Instructions)
I would like to turn the call over to Mr. Mehul Patel, Carlisle's Vice President of Investor Relations. Mehul, please go ahead.
Thank you, and good afternoon, everyone. Welcome to Carlisle's first quarter 2025 earnings call. I'm Mehul Patel, Vice President of Investor Relations for Carlisle. We released our first quarter financial results today, and you can find both our press release and the presentation for today's call in the Investor Relations section of our website.
On the call with me today are Chris Koch, our Board Chair, President and CEO; along with Kevin Zdimal, our CFO.
Today's call will begin with Chris providing key highlights of our first quarter. Kevin will follow Chris with an overview of our Q1 financial performance and a reaffirmed
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