Carlisle Group has record Q1 in 2019

Scottsdale, Arizona — Carlisle, the diversified construction products company, had total sales of $1bn in first quarter of 2019, up 8.8 % on the previous financial year.

Operating income across the business rose 21.1%, and reached $114.7m in the first quarter of 2019.

Sales in the company's construction materials business rose by 12.1% between Q1 2018 and Q1 2019, reaching $671m. This compares with $598.6 m in the previous period.

Operating income in the division rose 22.6%, and reached $92.9m in the first quarter of 2019.

The company said the construction materials division had benefitted from new product introductions, price and cost savings, and operational improvements. However, higher labour and acquisition costs took the shine off the numbers. In addition, bad weather in the quarter reduced the number of days that contractors could install roofs.

Chris Koch, Carlisle's CEO, said: 'We are pleased with the strong start to 2019, and are optimistic about both our near and long-term growth prospects.'

He added that his optimism is 'despite persistent uncertainties around the China trade negotiations and Brexit'.

In 2018, the company had record first quarter earnings in its construction materials division, thanks to its recent purchase of Accella Performance Materials. Arsenal Capital Partners formerly owned Accella Performance Materials.