Carlisle Companies Posts $127.7M Net Income on $1.05B Revenue in Q1 FY2026
Carlisle Companies Incorporated (NYSE: CSL), a diversified manufacturing company, reported net income of $127.7 million for the three months ending March 31, 2026, down 10.9% from $143.3 million in the prior-year period. Revenue fell 4.0% to $1.05 billion from $1.10 billion.
Carlisle Companies Incorporated (NYSE: CSL), a diversified manufacturing company, reported net income of $127.7 million for the three months ending March 31, 2026, down 10.9% from $143.3 million in the same quarter last year. Revenue declined 4.0% to $1.05 billion from $1.10 billion in the first quarter of fiscal 2025. Read more earnings reports.
Operating income for the quarter fell to $180.3 million from $183.6 million a year earlier, a decrease of 1.8%. The company's cost of goods sold dropped to $688.9 million from $710.1 million, while selling, general and administrative expenses declined sharply to $171.8 million from $194.0 million.
Diluted earnings per share came in at $3.10, down from $3.20 in the prior-year quarter. The share count fell to 41.1 million diluted shares from 44.7 million, reflecting the company's ongoing share repurchase activity. Basic shares outstanding declined to 40.8 million from 44.3 million.
Cash Position Drops as Company Burns Through Operations
Cash and cash equivalents stood at $771.3 million as of March 31, 2026, down sharply from $1.11 billion at the end of fiscal 2025. The company reported negative cash from operations of $44.7 million for the quarter, compared to positive operating cash flow of $1.8 million in the first quarter of 2025.
Cash used in investing activities totaled $28.0 million, an improvement from $78.9 million deployed a year earlier. Financing activities consumed $268.0 million, compared to $456.4 million in the prior-year period.
Balance Sheet Shows Asset Contraction
Total assets declined to $5.99 billion as of March 31, 2026, from $6.26 billion at year-end 2025. Current assets fell to $2.03 billion from $2.28 billion over the same period.
Accounts receivable increased to $692.1 million from $593.8 million at the end of December, while inventory rose to $481.0 million from $447.3 million. Property, plant and equipment edged up slightly to $813.3 million from $807.1 million.
Long-term debt remained essentially flat at $2.88 billion compared to $2.88 billion at year-end. Total stockholders' equity declined to $1.65 billion from $1.80 billion as of December 31, 2025.
Operating Expenses Decline Year-Over-Year
Research and development expenses rose to $12.1 million from $10.7 million in the first quarter of 2025. Income tax expense increased to $35.5 million from $34.9 million.
Current liabilities fell to $601.3 million from $736.0 million at the end of 2025, while accounts payable jumped to $316.4 million from $233.0 million. Goodwill stood at $1.54 billion, down marginally from $1.54 billion, and intangible assets declined to $1.39 billion from $1.43 billion.
First Quarter Financial Summary
| Metric | Q1 FY2026 | Q1 FY2025 | Change |
|---|---|---|---|
| Revenue | $1,052.1M | $1,095.8M | -4.0% |
| Operating Income | $180.3M | $183.6M | -1.8% |
| Net Income | $127.7M | $143.3M | -10.9% |
| Diluted EPS | $3.10 | $3.20 | -3.1% |
| Operating Cash Flow | -$44.7M | $1.8M | N/A |
The company ended the quarter with 40.5 million common shares outstanding, down from 41.0 million at the end of fiscal 2025 and 44.4 million a year earlier.