Carlisle Companies Incorporated reported first quarter 2025 financial results with revenue of $1.1 billion, essentially flat compared to the same period last year. Diluted earnings per share from continuing operations was $3.13, while adjusted EPS came in at $3.61, down 3% from the prior year. Operating income was $183.6 million, reflecting a margin of 16.8%, and adjusted EBITDA totaled $238.4 million with a margin of 21.8%.

Segment performance was mixed. Carlisle Construction Materials (CCM) generated $799 million in revenue, up 2% year-over-year, driven primarily by acquisitions such as MTL, despite a 1% organic revenue decline. Adjusted EBITDA for CCM declined 5% to $217 million. Carlisle Weatherproofing Technologies (CWT) reported a 5% decrease in revenue to $297 million, with organic sales falling 12%. This segment posted an adjusted EBITDA of $46 million, down 28%, due to lower new construction activity and unfavorable price/cost dynamics.

Carlisle repurchased 1.2 million shares during the quarter for $400 million and raised its full-year 2025 share repurchase target from $800 million to $1 billion. Free cash flow from continuing operations was negative $30.4 million, largely due to lower earnings and higher working capital usage. Operating cash flow was $1.8 million.

Management reaffirmed its 2025 outlook, expecting mid-single-digit revenue growth and approximately 50 basis points of adjusted EBITDA margin expansion. The CCM segment is projected to deliver mid-single-digit growth, while the CWT segment is expected to grow in the high-single-digit range.

Carlisle continues to target $40 of adjusted EPS and 25% return on invested capital by 2030, supported by ongoing investments in innovation, efficiency, and sustainability, as well as favorable commercial re-roofing market dynamics in North America.