Carlisle Cos. (NYSE: CSL) reported Q1 EPS of $1.33, $0.23 better than the analyst estimate of $1.10. Revenue for the quarter came in at $1.07 billion versus the consensus estimate of $1.04 billion.

• First quarter revenue increased 8.9% to a record $1.1 billion, of that 5.9% was organic
• Operating income reached a record $114.7 million, an increase of 21.1% year-over-year
• Diluted EPS from continuing operations for the quarter included $0.08 of restructuring, facility rationalization, and acquisition related costs
• Repurchased 1.4 million shares for $157.1 million in the quarter

Comment

Chris Koch, President and Chief Executive Officer, said, “Our record results in the first quarter reflected: continued healthy demand across many of our key end markets, price discipline, efficiencies gained from COS, contributions from acquisitions, and solid execution of our operating plans by Carlisle\'s employees around the globe. Building on the solid momentum we gained during the fourth quarter of 2018, we drove record first quarter revenues, operating income, and diluted EPS. We also continue to gain traction on the key objectives of Vision 2025, including:

• Achieving 5.9% organic revenue growth, in excess of our long-term growth target of 5%
• Leveraging revenue growth to deliver a 21% increase in operating income
• Maintaining strong price discipline across businesses, leading to positive price realization at all four segments
• Delivering cost savings of 1.3% of sales through COS, within our targeted range of 1-2%
• Utilizing our strong cash flow and balance sheet to deploy over $180 million into share repurchases and dividends paid, now totaling almost $1.1 billion since the beginning of 2017
• Continuing to reshape the portfolio and build out our capabilities by acquiring Petersen Aluminum Corporation within CCM, and on April 1, 2019, MicroConnex within CIT

We are pleased with the strong start to 2019 and are optimistic about both our near and long-term prospects for growth despite persistent uncertainties around the China trade negotiations and Brexit.

We remain focused on executing Vision 2025 objectives: exceeding 5% organic growth, utilizing COS to deliver efficiencies and operating leverage, building scale with synergistic acquisitions, continuing to invest in exceptional talent, and deploying over $3 billion into capital expenditures, share repurchases and dividends."

For earnings history and earnings-related data on Carlisle Cos. (CSL) click here.