Carlisle Companies to Reclassify Results of Operations for Carlisle Interconnect Technologies as Discontinued Operations Effective for the Third Quarter 2023
10 Outubro 2023 - 5:05PM
Business Wire
Carlisle Companies Incorporated (NYSE:CSL) will reclassify the
results of operations for Carlisle Interconnect Technologies
(“CIT”) as discontinued operations for all periods presented in the
Consolidated Statements of Income beginning in the third quarter of
2023. Assets and liabilities subject to the sale of CIT will be
reclassified as held for sale for all periods presented in the
Consolidated Balance Sheet.
As previously reported, CIT contributed revenues of $432.4
million, operating income of $30.6 million and adjusted EBITDA of
$69.7 million for the first six months of 2023. Included in the
reconciliation from operating income to adjusted EBITDA was $22.3
million related to amortization.
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.
Carlisle Companies Incorporated
Unaudited Non-GAAP Financial Measures - EBIT,
Adjusted EBIT, Adjusted EBITDA and Adjusted EBITDA Margin
Earnings before interest and taxes ("EBIT"), adjusted EBIT,
adjusted earnings before interest, taxes, depreciation and
amortization ("EBITDA") and adjusted EBITDA margin are intended to
provide investors and others with information about the Company's
and its segments' performance without the effect of items that, by
their nature, tend to obscure core operating results due to
potential variability across periods based on the timing, frequency
and magnitude of such items. As a result, management believes that
these measures enhance the ability of investors to analyze trends
in the Company’s businesses and evaluate the Company’s performance
relative to similarly-situated companies. This information differs
from net income and operating income determined in accordance with
GAAP and should not be considered in isolation or as a substitute
for measures of performance determined in accordance with GAAP.
Carlisle's and its segments' EBIT, adjusted EBIT, adjusted EBITDA
and adjusted EBITDA margin follows, which may not be comparable to
similarly titled measures reported by other companies.
Six Months Ended June 30,
2023
(in millions)
CIT
Operating income (loss) (GAAP)
$
30.6
Non-operating (income) expense, net(1)
0.4
EBIT
30.2
Exit and disposal, and facility
rationalization costs
3.7
Inventory step-up amortization and
acquisition costs
—
Impairment charges
—
(Gains) losses from acquisitions and
disposals
0.2
Losses (gains) from litigation
1.6
Total non-comparable items
5.5
Adjusted EBIT
35.7
Depreciation
11.7
Amortization
22.3
Adjusted EBITDA
$
69.7
Total revenues
$
432.4
Adjusted EBITDA margin
16.1
%
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version on businesswire.com: https://www.businesswire.com/news/home/20231010073554/en/
Mehul Patel Vice President, Investor Relations Carlisle
Companies Incorporated (310) 592 - 9668 mpatel@carlisle.com
Carlisle Companies (NYSE:CSL)
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