Carlisle Companies Incorporated

- As of March 31, 2026, Carlisle has $771 million in cash and cash equivalents and $1 billion available under its revolving credit facility. - The company's net debt-to-EBITDA ratio is 1.7x, within its target range of 1 to 2x, indicating a strong financial position. - There is no mention of new or planned fundraising activities through new debt or equity issuance in the provided information. - The focus remains on disciplined capital allocation, including investing in innovation, capital expenditures, synergistic M&A when opportunities arise, and returning cash to shareholders. - Share repurchases are ongoing, targeting $1 billion for the year 2026. - Overall, Carlisle shows significant financial flexibility with no announced plans for new fundraising via debt or equity at this time.

- Ongoing investment in automation and manufacturing improvements, especially at Plasti-Fab in Canada, to strengthen operations and enhance vertical integration around EPS feed. - Continued deployment of capital expenditures, with $28 million invested in Q1 2026. - Allocating capital towards innovation, as seen with new product launches like ThermaThin R7 insulation and new foam adhesive guns, enhancing value per square inch and contractor efficiency. - Focus on footprint consolidation and in-sourcing initiatives at CWT to expand margins. - Maintaining significant financial flexibility with $771 million cash and $1 billion available on revolving credit, supporting innovation, capital expenditures, synergistic M&A, and disciplined capital return through share buybacks. - Targeted synergistic M&A pursued when opportunities meet strategic criteria and price expectations. - Commitment to capital allocation prioritizing returns over growth for growth’s sake, ensuring investments focus on durable competitive advantages.

- Full-year 2026 revenue expected to grow in the low single-digit range, with guidance moving towards the higher end (~3%) for CCM, driven primarily by pricing rather than volume increases. - Volume expectations remain cautious due to geopolitical uncertainty and soft new construction markets; no near-term recovery assumed. - Reroofing activity expected to continue stable low single-digit growth, providing a recurring demand base. - Order momentum improved in March and April, with optimistic near-term trends, but second-half outlook remains cautious. - Pricing actions are ongoing to offset raw material inflation, with price realization expected to build through the year. - No significant volume growth baked into guidance; price increases account for the projected revenue growth. - Potential for volume rebound in the second half is uncertain; current guidance remains conservative in volumes.

- Full-year 2026 outlook reaffirmed with low single-digit consolidated revenue growth driven primarily by price increases and market share gains. - Expect approximately 50 basis points of adjusted EBITDA margin expansion for the year, supported by price realization, cost of sales (COS)-led productivity gains, and operational improvements, especially at CWT. - CCM segment revenue growth anticipated at low single digits, fueled by pricing and stable reroofing demand despite softness in new construction. - Adjusted EPS growth targeted, with an increase from $3.63 in Q1 and a long-term Vision 2030 goal of $40 adjusted EPS. - Margin improvements projected in CCM with Q2 EBITDA margins approaching 31%, slight exceedance in Q3, and around 28% in Q4. - Capital allocation remains disciplined, prioritizing returns via share buybacks and M&A only when strategically favorable. - The company expects price/cost dynamics to improve sequentially through 2026 as pricing actions offset raw material inflation.

- Orders improved as the first quarter progressed, with better momentum exiting March. - April activity to date has been encouraging, showing reroofing work in line with seasonal norms. - Backlog conversion is improving as weather disruptions have subsided. - Order activity levels give increased confidence in business trajectory entering Q2 and the heart of the roofing season. - Despite improved order momentum, there remains caution about the second half of the year due to geopolitical volatility and uncertain new construction markets. - Distribution channels are moving toward more normalized inventory levels to support increased activity during the construction season. - Price increases and supply chain adjustments are beginning to impact market orders and backlog positively.