On this page of StockholderLetter.com we present the latest annual shareholder letter from CARLISLE COMPANIES INC — ticker symbol CSL. Reading current and past CSL letters to shareholders can bring important insights into the investment thesis.

 •  3/18/2025 Letter Continued (Full PDF)
 •  3/10/2023 CSL Stockholder Letter
 •  3/19/2024 CSL Stockholder Letter
 •  More "Metals Fabrication & Products" Category Stockholder Letters
 •  CSL Benford's Law Stock Score = 92

CSL Shareholder/Stockholder Letter Transcript:

PURE
PLAY
2024 ANNUAL REPORT

Carlisle
IN 2024,
REACHED...
Carlisle 2024 Annual Report
2


5.0B
in
revenue

1.3B
adjusted
EBITDA*
26.6


adjusted
EBITDA margin*
20.20
adjusted earnings
per share*
28.5

return on
invested capital*
18.8

free cash
flow margin*
*Refer to page 36 for a reconciliation of non-GAAP financial measures to related
GAAP financial measures
The Bunker Tower in Eindhoven, the Netherlands was built with Carlisle Hertalan  
EPDM waterproofing membrane
On cover (clockwise from top left): Henry Blueskin   VP160 installed on a multifamily
structure in Malvern, PA; Insulfoam R-Tech   FF roof recover on a warehouse in
Phoenix, AZ; Drexlume wall panels on the Switch Building in Manhattan, NY; an 80mil mechanically fastened TPO roof at Tecumseh Vista Academy in Ontario, Canada
Carlisle 2024 Annual Report
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Report
Contents
This is Carlisle Companies
Incorporated   s annual report,
covering all our operations for
the period of January 1, 2024,
through December 31, 2024.
Our Company
To Our Shareholders
About Carlisle
Our Pure Play Transformation
Carlisle Construction Materials
Carlisle Weatherproofing Technologies
4
6
8
10
12
Our Vision & Strategy
Building on Vision 2030
The Carlisle Operating System
The Carlisle Experience
Research & Innovation
Strategic Acquisitions
Superior Capital Allocation
Exceptional Talent
14
16
18
20
22
24
26
Our Culture & Commitments
Shareholder Value through Sustainability
Building Envelope Case Studies
Carlisle in the Community
Board of Directors
Company Officers
Investor Resources
28
30
32
34
35
36
The Brooklyn Children   s Museum in Brooklyn, NY
features Henry Pumadeq waterproofing, a UV-resistant
waterproofing system that sets in 30 minutes and can
withstand traffic one hour after installation
Carlisle 2024 Annual Report
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Carlisle 2024 Annual Report
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 3/18/2025 Letter Continued (Full PDF)