Arizona, US – Second quarter revenues at Carlisle were up 11% year-on-year, rising from $1.31bn last year to $1.45bn this. Adjusted EBITDA was up 20.5%, from $347m in the 2023 to $418m this year.
During the quarter, it completed the sale of Carlisle Interconnect Technologies to Amphenol, and the purchase of MTL, which makes metal systems for the commercial construction sector. This leaves the company purely focused on the building products market.
The Carlisle Construction Materials business, which includes polyiso insulation for the commercial buildings market, reported $1.1bn in revenue, up 15% on the $948m reported in the 2023 quarter. The company attributed the increase to inventory normalisation, strong re-roofing activity, and the acquisition of MTL. Adjusted EBITDA was up 23% to $364m, with drivers including volume leverage on strong sales growth and a favourable raw material situation, along with operating efficiencies.