Scottsdale, Arizona – Operating income in Carlisle's Construction Materials business outpaced overall performance with a rise in the first quarter of 2020.
The globally spread construction products business generated net sales of $1.bn in the first quarter of 2020. This is down 3.83% on the same period last year.
Koch: Likes commercial roofing this quarter
Operating income across the business declined by 10.4% and reached $103m in the first quarter 2020.
In the company's Construction Materials business, net sales rose 0.7% between the first quarter 2019 and the first quarter of 2020. They reached $676m in the period. This compares with $671m in the equivalent period in 2019.
At the same time, operating income in the division rose 16.3%. It reached $107m in the first quarter of 2020. This compares with $92m in the equivalent period in 2019.
Construction materials growth was driven by continued demand in the US for commercial roofing. The margin benefited from lower raw materials prices compared with the period in 2019. Carlisle managed to shave a little off the cost of sales and gained benefits from greater volumes. It also managed to pay its staff in the division more.
Chris Koch, is Carlisle's CEO. He said his company has been using crisis management procedures from its plants in China at its operations in the US and Italy. He added: the company will 'brace for prudent adjustments to business structures, employment and pay policy as this global calamity continues'.
