Carlisle Companies Incorporated · NYSE:CSL
Carlisle Companies — Q3 2026 Earnings Presentation
18 slides from Carlisle Companies's earnings presentation, Oct 28, 2026
Slide 1: Third Quarter 2026 Earnings Call
Third Quarter 2026 Earnings Call October 28, 2026
Slide 2: Forward Looking Statements & Non-GAAP Financial Measures
Forward Looking Statements & Non-GAAP Financial Measures This presentation contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, about our expectations, plans, objectives, future financial performance and other matters that are not historica
Slide 3: Third Quarter 2026 Overview
Third Quarter 2026 Overview Disciplined execution delivers record third quarter adjusted EPS amid elevated input costs • Grew revenue 9% year-over-year, with above-market growth at both CCM and CWT $1.5B Revenues • Delivered record third quarter adj. EPS, up 6% year- over-year • Repurchased $350 mil
Slide 4: Third Quarter 2026 Results
Third Quarter 2026 Results Above-market revenue growth and record third quarter adjusted EPS reflect disciplined execution Revenue Adj. EBITDA Margin* Adj. EPS* +9% (+9% Organic*) -210 bps +6% $1,463M 25.9% $1,347M 23.8% $5.92 $5.61 3Q25 3Q26 3Q25 3Q26 3Q25 3Q26 + Healthy re-roofing demand – Raw mat
Slide 5: Carlisle Construction Materials (CCM) Segment Results
Carlisle Construction Materials (CCM) Segment Results Strategic initiatives drive above-market volume growth; price/cost timing pressures margin Revenue Adj. EBITDA* Adj. EBITDA Margin* +8% (+9% Organic*) +1% -200 bps $1,085M $303M $306M 30.2% $1,001M 28.2% 3Q25 3Q26 3Q25 3Q26 3Q25 3Q26 Notable Reve
Slide 6: Carlisle Weatherproofing Technologies (CWT) Segment Results
Carlisle Weatherproofing Technologies (CWT) Segment Results Volume leverage and structural cost savings drive 13% adj. EBITDA growth and margin expansion Revenue Adj. EBITDA* Adj. EBITDA Margin* +9% (+10% Organic*) +13% +60 bps $379M $68M $346M $60M 17.4% 18.0% 3Q25 3Q26 3Q25 3Q26 3Q25 3Q26 Notable
Slide 7: Third Quarter 2026 Liquidity
Third Quarter 2026 Liquidity Balance sheet strength supports strategic priorities and disciplined capital deployment strategy Debt Maturity Schedule Senior Total Liquidity Net Debt to Note EBITDA* Ratio $750M $1.5B 2.75% Including cash of $547M and 1.8x Senior Note Senior $600M Note $1.0B available
Slide 8: Third Quarter 2026 Cash Flow Performance
Third Quarter 2026 Cash Flow Performance Higher working capital supports sales growth; expect strong seasonal fourth quarter cash flow $712M $91M $514M $426M $107M $34M $314M $37M $620M $393M $407M $277M 3Q25 3Q26 YTD25 YTD26 Operating Cash Flow Capital Expenditures Free Cash Flow* All amounts are f
Slide 9: Fourth Quarter 2026 Outlook
Fourth Quarter 2026 Outlook Pricing builds against elevated input costs; expect price/cost parity exiting 2026 Primary Drivers +HSD Flat • CCM Q4 revenue up HSD YoY as pricing and re- roofing demand more than offset slower new Fourth Quarter Fourth Quarter construction Revenue Adj. EBITDA • CWT Q4 r
Slide 10: Vision 2030 Financial Targets
Vision 2030 Financial Targets Long-term targets remain intact, supported by disciplined execution and capital allocation $40+ ADJ. EPS 25%+ ROIC Mid Teen CAGR Maintain Superior Returns 5%+ 25%+ 15%+ ORGANIC REVENUE CAGR ADJ. EBITDA MARGIN FCF MARGIN Above Market Growth Resilient Performance Cash Gen
Slide 11: Appendix
CARLISLE Appendix
Slide 12: Non-GAAP Financial Measures
Non-GAAP Financial Measures The Company uses the following definitions of financial measures that are not presented in accordance with generally accepted accounting principles in the United States of America (“GAAP”): 1. Organic revenue: Revenues excluding revenue from acquisitions completed in the
Slide 13: Reconciliation to Organic Revenue
Reconciliation to Organic Revenue Three Months Ended September 30, (in millions, except percentages) CSL CCM CWT 2025 Revenues (GAAP) $ 1,346.9 $ 1,000.8 $ 346.1 Organic 118.6 8.8 % 85.5 8.5 % 33.1 9.6 % FX impact (2.1) (0.2)% (1.4) (0.1)% (0.7) (0.2)% Total change 116.5 8.6 % 84.1 8.4 % 32.4 9.4 %
Slide 14: Reconciliation to Free Cash Flow
Reconciliation to Free Cash Flow Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2026 2025 2026 2025 Net cash provided by (used in) operating activities (GAAP) $ 314.1 $ 426.9 $ 511.2 $ 715.8 Less: Operating cash flow from discontinued operations — 0.7 (2.5) 4.2 Operat
Slide 15: Reconciliation to Adjusted EBITDA
Reconciliation to Adjusted EBITDA Three Months Ended Nine Months Ended September 30, September 30, (in millions, except percentages) 2026 2025 2026 2025 Net income (GAAP) $ 208.1 $ 214.2 $ 591.0 $ 613.3 Less: Income (loss) from discontinued operations (GAAP) 0.7 0.7 (1.8) 4.2 Income from continuing
Slide 16: Reconciliation to Segment Adjusted EBITDA
Reconciliation to Segment Adjusted EBITDA Three Months Ended September 30, 2026 Three Months Ended September 30, 2025 (in millions, except percentages) CCM CWT Corporate CCM CWT Corporate Operating income (loss) (GAAP) $ 280.5 $ 38.9 $ (26.2) $ 280.3 $ 29.6 $ (16.0) Non-operating expense (income), n
Slide 17: Reconciliation to Adjusted EPS
Reconciliation to Adjusted EPS Three Months Ended September 30, 2026 Three Months Ended September 30, 2025 Pre-tax After-tax Impact to Pre-tax After-tax Impact to (in millions, except per share amounts) Impact Impact(1) Diluted EPS(2) Impact Impact(1) Diluted EPS(2) Net income (GAAP) $ 208.1 $ 5.24
Slide 18: Reconciliation of Debt Covenant Ratios
Reconciliation of Debt Covenant Ratios (in millions, except ratios) LTM 9/30/2026 Income from continuing operations (GAAP) $ 726.2 Income tax expense 213.0 Interest expense 111.1 Depreciation and amortization 196.7 Non-cash stock-based compensation expense 34.8 EBITDA per debt covenants $ 1,281.8 Co