Carlisle Companies Whiffs on Earnings

Carlisle Companies (NYS: CSL) reported earnings on July 23. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended June 30 (Q2), Carlisle Companies missed estimates on revenues and whiffed on earnings per share.

Compared to the prior-year quarter, revenue increased slightly. Non-GAAP earnings per share contracted significantly. GAAP earnings per share dropped significantly.

Margins shrank across the board.

Revenue details
Carlisle Companies chalked up revenue of $996.1 million. The three analysts polled by S&P Capital IQ predicted revenue of $1.02 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $1.14. The seven earnings estimates compiled by S&P Capital IQ predicted $1.34 per share. Non-GAAP EPS of $1.14 for Q2 were 18% lower than the prior-year quarter's $1.39 per share. (The prior-year quarter included $0.05 per share in earnings from discontinued operations.) GAAP EPS of $0.13 for Q2 were 91% lower than the prior-year quarter's $1.44 per share. (The prior-year quarter included $0.05 per share in earnings from discontinued operations.)

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 24.1%, 190 basis points worse than the prior-year quarter. Operating margin was 12.5%, 190 basis points worse than the prior-year quarter. Net margin was 0.8%, 860 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $989.9 million. On the bottom line, the average EPS estimate is $1.28.

Next year's average estimate for revenue is $3.81 billion. The average EPS estimate is $4.40.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 231 members out of 242 rating the stock outperform, and 11 members rating it underperform. Among 93 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 91 give Carlisle Companies a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Carlisle Companies is outperform, with an average price target of $74.33.

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