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Stock Market & Financial Investment News

News Breaks
February 11, 2013
08:22 EDTCSLCarlisle price target raised to $73 from $68 at RW Baird
Baird raised its price target and estimates on Carlisle following Q4 results. The firm cited its solid portfolio, margin improvements, and increased conviction longer-term returns. Shares are Outperform rated.
News For CSL From The Last 14 Days
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January 21, 2015
08:27 EDTCSLCarlisle pullback yesterday a buying opportunity, says FBR Capital
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January 19, 2015
17:14 EDTCSLCarlisle sees 2014 EBIT margin flat due to 'unexpected circumstances'
Carlisle Companies announced that, while preliminary unaudited results indicate that the company will be reporting record net sales and net earnings for 2014, certain unexpected circumstances at Carlisle Construction Materials and Carlisle Brake & Friction will negatively impact Q4 results. Carlisle said CCM experienced lower sales volume growth in November and December due in part to the early onset of winter conditions in much of the United States, compounded by lower than anticipated demand and the negative impact of foreign currency fluctuations from the stronger U.S. dollar on its sales into Europe. As a result, net sales growth for the CCM segment will be in the mid-single digit percent range in Q4 compared to 16% net sales growth in the prior quarter. For the full year 2014, net sales growth at CCM is estimated to be in the high-single digit percent range. In addition to lower than expected Q4 net sales growth, CCM’s EBIT was negatively impacted by higher costs for plant startups, product line closings, and higher operating costs, the company said. Also in Q4, net sales at CBF will decline modestly versus the prior year quarter due to the "recent well publicized decline in demand in the agriculture markets, the continued malaise in the mining markets, and the negative impact of foreign currency fluctuations from the stronger U.S. dollar." CBF incurred restructuring and severance costs during Q4 in its continued efforts to better align its cost structure with current levels of customer demand. As a result of lower than anticipated performance by CCM and CBF, Carlisle’s overall EBIT margin for 2014 is expected to be level with the prior year. Carlisle’s total net sales growth for 2014 is estimated to be in the high single digit percent range, including sales from the acquisition of LHi Technologies.

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