Carlisle Companies Incorporated · NYSE:CSL
Carlisle Companies — Baird 2022 Global Industrial Conference
18 slides from Carlisle Companies's conference presentation, Nov 9, 2022
Slide 1: Baird 2022 Global Industrial Conference
Baird 2022 Global Industrial Conference November 9, 2022 Chris Koch, CEO Kevin Zdimal, CFO
Slide 2: Forward Looking Statements & Non-GAAP Financial Measures
Forward Looking Statements & Non-GAAP Financial Measures This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the potential or expected impacts of the global COVID-19 pandemic. Forward-looking
Slide 3: In 2018 Launched Vision 2025 With a Goal to Accelerate Returns and Earnings Growth
In 2018 Launched Vision 2025 With a Goal to Accelerate Returns and Earnings Growth Organic Growth Carlisle Strategic Operating M&A $15+ System Returns Driven EARNINGS Exceptional Opportunistic PER SHARE Share Talent Repurchases Margin Improvement 3
Slide 4: Best in Class Financial Performance With Multi-Year Runway
Best in Class Financial Performance With Multi-Year Runway Driving above-market organic revenue growth, EBITDA* Margin and ROIC* Durable Revenue Growth Expanding Adj. EBITDA* Margin Exceptional Return on Capital ~24% $0.7B ~$6.6B ~21% $2.3B +900 bps 6% +800 bps CAGR $3.6B 15% 13% 2012 Organic M&A, 2
Slide 5: Portfolio Transformation Ongoing With Pivot to a Premier Diversified Building Products Platform
Portfolio Transformation Ongoing With Pivot to a Premier Diversified Building Products Platform Pre-Pivot: Carlisle was a Diversified Industrial Today: A Focused Platform 2% 4% 3% 7% 17% 5% 7% 5% 7% $2.6B 43% $3.7B ~$6.6B 7% Revenue Revenue Revenue in 2006 in 2016 56% 24% in 2022E 59% 7% 23% 24% Con
Slide 6: The Carlisle Experience and Earning Price Drives Consistently Strong Performance
The Carlisle Experience and Earning Price Drives Consistently Strong Performance Building Products businesses generate highly resilient EBITDA during economic downturns 30% $MM $5,500 $6,000 23% 21% 25% 23% $5,000 21% $3,836 20% 19% 18% 18% 20% $4,000 $3,233 16% 17% $2,996 16% 15% $2,880 14% 15% $3,
Slide 7: Carlisle's Business Model is at Forefront of Global ESG Mega Trends
Carlisle’s Business Model is at Forefront of Global ESG Mega Trends In order to meet climate targets, there is increasing demand for more energy-efficient products to significantly reduce the >30% of global annual greenhouse gas emissions from buildings Mission Carlisle’s mission is to help deliver
Slide 8: Progress Since Vision 2025 Launch
Progress Since Vision 2025 Launch 2016 $6.78 Adj EPS* Exceeding Vision 2025 Target, 3 YEARS EARLY Vision 2030 Leverage Early realization The “Pivot” ESG Mega of Vision 2025 Enhanced Pivot to Building Trends Applying these Products foundational M&A Roofing systems, CCM Price insulation, and p
Slide 9: Carlisle Building Products' "Normal" Cash Flow Seasonality
Carlisle Building Products’ “Normal” Cash Flow Seasonality Seasonally higher construction activity 2Q 3Q 4Q 1Q Peak Building Season Sales ramp-up with warmer weather Back-half weighted cash collections on seasonally high Carlisle 1Q 2Q 3Q 4Q summer sales Free Cash Flow months Channel inventory is ty
Slide 10: Preliminary 2023 Expectations
Preliminary 2023 Expectations Non-discretionary commercial re-roofing demand persists Pricing for value Year-over- Manufacturing/COS Year efficiency gains EPS Inflationary pressures abate Growth Disciplined, ROI-focused approach to capital deployment 10
Slide 11: Financial Reconciliations
Lt CF ARLISL E 2025 THE NEXT 100 YEARS Financial Reconciliations
Slide 12: Non-GAAP Financial Metrics
Non-GAAP Financial Metrics This presentation includes the following financial measures that are not presented in accordance with generally accepted accounting principles in the United States of America (“GAAP”): 1. Adjusted EBITDA, which the Company defines as net income excluding income/loss from d
Slide 13: Reconciliation to Adjusted EBITDA
Reconciliation to Adjusted EBITDA Year Ended December 31, (in millions) 2012 Net income (GAAP) $ 270.2 Less: income from discontinued operations (GAAP) 2.9 Income from continuing operations (GAAP) Senior 267.3 Provision for income taxes Note 131.5 Interest expense, net $750 26.0 Interest income M (0
Slide 14: Reconciliation to ROIC
Reconciliation to ROIC Year Ended December 31, (in millions) 2012 Net income (GAAP) $ 270.2 Less: (loss) income from discontinued operations (GAAP) 2.9 Income from continuing operations (GAAP) Senior 267.3 Provision for income taxes Note 131.5 Interest expense, net $750 26.0 Interest income M (0.5)
Slide 15: Reconciliation to Adjusted EBITDA – Building Products
Reconciliation to Adjusted EBITDA – Building Products* Twelve Months Ended December 31, (in millions) 2008 2009 2010 2011 2012 2013 2014 Operating income (GAAP) $ 151.1 $ 155.1 $ 159.1 $ 178.2 $ 273.4 $ 264.3 $ 269.8 Non-operating (income) expense(1) — (0.1) (0.1) 0.3 — 0.3 0.9 EBIT 151.1 155.2 159.
Slide 16: Reconciliation to Adjusted EBITDA – Building Products
Reconciliation to Adjusted EBITDA – Building Products* Twelve Months Ended December 31, (in millions) 2015 2016 2017 2018 2019 2020 2021 Operating income (GAAP) $ 351.1 $ 430.3 $ 421.9 $ 435.4 $ 576.0 $ 581.6 $ 684.3 Non-operating (income) expense(1) — (0.1) 0.8 (0.1) 0.5 3.8 2.1 EBIT 351.1 430.4 42
Slide 17: Reconciliation to Adjusted Diluted EPS
Reconciliation to Adjusted Diluted EPS Year Ended December 31, 2016 Pre-tax Post-tax Impact to (in millions, except per share amounts) Impact Impact(1) Diluted EPS(2) Net income (GAAP) $ 250.1 $ 3.86 Less: loss from discontinued operations (GAAP) (0.7) (0.01) Income from continuing operations (GAAP)
Slide 18: Investor Presentation
Investor Presentation Jim Giannakouros, CFA NYSE: CSL Vice President, Investor Relations Carlisle Companies Incorporated Email: jgiannakouros@carlisle.com
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