RTTNews | Oct 21, 2021 06:06PM EDT

18:06 Thursday, October 21, 2021 (RTTNews.com) - Arizona-based industrial company Carlisle Companies Incorporated (CSL), Thursday reported an improved net income in the third quarter due to increased sales of construction materials. Carlisle group posted a net income of $142.10 million or $2.67 earnings per share, up from $102.30 million or $1.87 earnings per share in the same quarter last year. Excluding special items, the income was $2.99 per share, up from $2.35 year-over-year. On average, eight analysts polled by Thomson Reuters forecast the earnings to be $2.75 for this quarter. The revenue for the quarter was 24.5% higher at $1.31 billion, from $1.05 billion last year. The chief driving force in the boost was a 29.4% increase in the Carlisle Construction Materials (CCM) segment which earned $1.06 billion in the quarter due to higher roofing demands, favorable price, and the acquisition of Henry Company. Analysts' outlook for revenue was $1.27 billion. Chris Koch, Chairman, President, and CEO of the company, said, "As we exited the third quarter, the impact of the COVID-19 pandemic appears to be past its summer and early autumn peak. This trend, combined with improvements in our supply chain and positive movement towards a resumption of passenger air travel approaching pre-pandemic levels, is driving increased optimism about our ability to deliver continued strong results. We have also seen strong demand in our Building Products markets."

Read the original article on RTTNews ( https://www.rttnews.com/3234639/carlisle-group-q3-profit-increases.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved