Carlisle Companies (CSL) investor relations material

Executive summary

• Achieved record Q2 2026 revenue of $1.6 billion (up 8% year-over-year) and record adjusted EPS of $7.03 (up 12% year-over-year), with resilient margins despite significant inflation and supply chain disruptions.

• Strong performance was driven by healthy reroofing demand, above-market volume growth, strategic initiatives, and customer pre-buying ahead of price increases.

• Continued focus on operational excellence, innovation, and disciplined capital allocation, including the launch of new products like ThermaThin 7 insulation.

• Increased full-year 2026 share repurchase target to $1.2 billion, with $250 million repurchased in Q2.

Financial highlights

• Q2 2026 revenue was $1,570.3 million (up 8% year-over-year); adjusted EBITDA was $412 million (margin 26.2%, down 70 bps year-over-year); adjusted EPS was $7.03 (up 12%).

• Operating cash flow for Q2 was $287 million; free cash flow for Q2 was $202.6 million; cash and equivalents at quarter-end were $665 million.

• Returned $590 million to shareholders in H1 2026, including $500 million in share repurchases and $90 million in dividends.

• Net debt to EBITDA ratio at 1.7x, within target range; EBITDA to interest ratio at 12.3x.

Outlook and guidance

• Raised full-year 2026 revenue outlook to mid-single-digit growth; adjusted EBITDA margin expected to remain flat year-over-year.

• Margin outlook reflects additional raw material and freight inflation, with pricing actions expected to offset costs with a lag, turning positive in Q4.

• CCM and CWT both expected to deliver mid-single-digit revenue growth; CWT to see meaningful margin improvement in H2.

• Full-year ROIC expected at ~25%, free cash flow margin at ~15%, and double-digit adjusted EPS growth; Vision 2030 targets reaffirmed: $40 adjusted EPS and ROIC above 25%.