Carlisle Companies Releases Vision 2030 Strategy and Financial Targets
07 Dicembre 2023 - 1:00PM
Business Wire
- Outlines strategy to unlock the full potential of its pure
play building products portfolio
- 2030 financial targets include Adjusted EPS of $40+ and ROIC
of 25%+
- Leverages mega trends around energy efficiency, labor
savings and the re-roofing cycle
- Above market growth driven by innovation, the Carlisle
Experience and COS
Carlisle Companies Incorporated (NYSE:CSL), a leading supplier
of innovative building products and solutions, today released a
video and presentation featuring its Vision 2030 strategy and
financial targets. Vision 2030 outlines the next phase of
profitable growth and superior returns following the pivot of
Carlisle’s portfolio of general industrial businesses to a pure
play building products company and the successful achievement of
its key Vision 2025 objectives three years ahead of plan.
“Vision 2030 presents a new chapter in Carlisle’s now 106 year
journey as a company, focused on unleashing the full potential of
our pure play building products portfolio with best-in-class
returns,” commented Chris Koch, Chair, President and Chief
Executive Officer. “Our exceptional and resilient margins have
demonstrated the power of our differentiated products and solutions
that we deliver through the Carlisle Experience, a compelling value
proposition that resonates across end users, contractors, and
distributors. As we embrace the future under Vision 2030, we are
again leading the charge to upgrade our industry standards, drive
above-market growth and earn a premium in the marketplace by
placing even greater emphasis on innovation. Our focus on
innovative, energy-efficient, and labor-saving solutions not only
meets the increasing demand for green buildings but also ensures a
more attractive outlook for our Company.
“We believe our track record of unlocking value in Carlisle is
only just beginning to be realized by investors. We are introducing
what we consider to be highly attractive and achievable financial
targets through our Vision 2030 plan. Combined with a commitment to
our talented team, sustainability, and a robust capital deployment
approach, we have a clear path to deliver exceptional returns and
firmly establish Carlisle as a preeminent investment opportunity in
the building products sector.”
The Vision 2030 Value Creation Journey:
- Builds on Carlisle’s record of success and strategic pivot to a
pure play building products portfolio
- Leverages mega trends around energy efficiency, labor savings
and the re-roofing cycle that are expanding Carlisle’s market
opportunity
- Drives innovation by investing in and enhancing the significant
technical infrastructure in place to help deliver above market
growth and additional price for value
- Continues to deliver a strong Adjusted EBITDA margin that has
demonstrated resilience through cycles
- Produces strong cash flow to drive superior returns on invested
capital
Introducing Vision 2030 Financial Targets (from Base Year
2023E):
- Adjusted EPS growing at mid-teen CAGR to over $40
- ROIC remaining in excess of 25%
- Organic revenue CAGR of over 5%
- Adjusted EBITDA margin increasing to over 25%
- Free Cash Flow to Sales ratio remaining above 15%
Vision 2030 Video and Presentation
The Vision 2030 pdf presentation and approximately 50-minute
Vision 2030 video are both available on the Investors section of
the Company’s website at www.carlisle.com. Visitors to the site can
register to view the video.
About Carlisle Companies
Incorporated
Carlisle Companies Incorporated is a leading supplier of
innovative building envelope products and solutions for more energy
efficient buildings. Through its building products businesses –
Carlisle Construction Materials (“CCM”) and Carlisle
Weatherproofing Technologies (“CWT”) – and family of leading
brands, Carlisle delivers innovative, labor-reducing and
environmentally responsible products and solutions to customers
through the Carlisle Experience. Carlisle is committed to
generating superior shareholder returns and maintaining a balanced
capital deployment approach, including investments in our
businesses, strategic acquisitions, share repurchases and continued
dividend increases. Leveraging its culture of continuous
improvement as embodied in the Carlisle Operating System (“COS”),
Carlisle has committed to achieving net-zero greenhouse gas
emissions by 2050.
Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements generally use words such as
"expect," "foresee," "anticipate," "believe," "project," "should,"
"estimate," "will," "plans," "intends," "forecast," and similar
expressions, and reflect our expectations concerning the future.
Such statements are made based on known events and circumstances at
the time of publication and, as such, are subject in the future to
unforeseen risks and uncertainties. It is possible that our future
performance may differ materially from current expectations
expressed in these forward-looking statements, due to a variety of
factors such as: increasing price and product/service competition
by foreign and domestic competitors, including new entrants;
technological developments and changes; the ability to continue to
introduce competitive new products and services on a timely,
cost-effective basis; our mix of products/services; increases in
raw material costs that cannot be recovered in product pricing;
domestic and foreign governmental and public policy changes
including environmental and industry regulations; the ability to
meet our goals relating to our intended reduction of greenhouse gas
emissions, including our net zero commitments; threats associated
with and efforts to combat terrorism; protection and validity of
patent and other intellectual property rights; the identification
of strategic acquisition targets and our successful completion of
any transaction and integration of our strategic acquisitions; our
successful completion of strategic dispositions; the cyclical
nature of our businesses; the impact of information technology,
cybersecurity or data security breaches at our businesses or third
parties; the outcome of pending and future litigation and
governmental proceedings; the emergence or continuation of
widespread health emergencies such as the COVID-19 pandemic,
including, for example, expectations regarding their impact on our
businesses, including on customer demand, supply chains and
distribution systems, production, our ability to maintain
appropriate labor levels, our ability to ship products to our
customers, our future results, or our full-year financial outlook;
and the other factors discussed in the reports we file with or
furnish to the Securities and Exchange Commission from time to
time. In addition, such statements could be affected by general
industry and market conditions and growth rates, the condition of
the financial and credit markets and general domestic and
international economic conditions, including inflation and interest
rate and currency exchange rate fluctuations. Further, any conflict
in the international arena, including the Russian invasion of
Ukraine and war in the Middle East, may adversely affect general
market conditions and our future performance. Any forward-looking
statement speaks only as of the date on which that statement is
made, and we undertake no duty to update any forward-looking
statement to reflect events or circumstances, including
unanticipated events, after the date on which that statement is
made, unless otherwise required by law. New factors emerge from
time to time and it is not possible for management to predict all
of those factors, nor can it assess the impact of each of those
factors on the business or the extent to which any factor, or
combination of factors, may cause actual results to differ
materially from those contained in any forward-looking
statement.
Non-GAAP Disclosure
Carlisle reports its financial results in accordance with the
U.S. generally accepted accounting principles (GAAP). This press
release refers to certain forward-looking non-GAAP financial
measures, including adjusted EPS, ROIC, organic revenue, adjusted
EBITDA, and free cash flow to sales ratio. Carlisle’s definitions
of these non-GAAP financial measures can be found in the Vision
2030 pdf presentation in the Investors section of Carlise’s website
at www.carlisle.com. Carlisle believes that providing these
non-GAAP financial measures enhances Carlisle’s and investors’
understanding of Carlisle’s and its segments’ financial
performance. Non-GAAP financial measures should not be considered
replacements for, and should be read together with, the most
comparable GAAP financial measures. Carlisle’s definitions of its
non-GAAP financial measures may not be comparable to similarly
titled measures reported by other companies. Carlisle is not
providing reconciliations because Carlisle does not provide GAAP
financial measures on a forward-looking basis as Carlisle is unable
to predict with reasonable certainty the ultimate outcome of
adjusted items without unreasonable effort. These items are
uncertain, depend on various factors, and could be material to
Carlisle’s financial results computed in accordance with GAAP.
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version on businesswire.com: https://www.businesswire.com/news/home/20231207830754/en/
Mehul Patel Vice President, Investor Relations Carlisle
Companies Incorporated (310) 592-9668 mpatel@carlisle.com
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