Carlisle Companies (CSL) Q2 2026 earnings summary

Executive summary

• Achieved record Q2 2026 revenue of $1.6 billion (up 8% year-over-year) and record adjusted EPS of $7.03 (up 12% year-over-year), with resilient margins despite significant inflation and supply chain disruptions.

• Strong performance was driven by healthy reroofing demand, above-market volume growth, strategic initiatives, and customer pre-buying ahead of price increases, offsetting softness in new construction.

• Continued focus on operational excellence, innovation, and disciplined capital allocation, including the launch of ThermaThin 7 insulation and Vision 2030 goals.

• Increased full-year share repurchase target to $1.2 billion for 2026, with $250 million repurchased in Q2.

Financial highlights

• Q2 2026 revenue was $1,570.3 million (up 8% year-over-year); adjusted EBITDA was $412 million (margin 26.2%, down 70 bps year-over-year); adjusted EPS was $7.03 (up 12%).

• Operating cash flow for Q2 was $244–$287 million; free cash flow was $202.6–$258 million; cash and equivalents at quarter-end were $665 million.

• Returned $590 million to shareholders in H1 2026, including $500 million in share repurchases and $90 million in dividends.

Outlook and guidance

• Raised full-year 2026 revenue outlook to mid-single-digit growth; adjusted EBITDA margin expected to remain flat year-over-year due to inflationary pressures.

• No near-term recovery assumed in new construction markets; pricing actions expected to offset cost increases by Q4, with margin improvement in H2 2026.

• Maintain long-term targets: $40 adjusted EPS and ROIC above 25% by 2030.