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PRE-MKT · 04:35 ET
Market ClerkRecap
Mon Oct 26 · pre-market1 signal on Oct 2494 insider buys this week · $48.3MCIRO short report next: Oct 31The week ahead

CSL

CARLISLE COMPANIES INC
NYSE · MATERIALS · FABRICATED RUBBER PRODUCTS, NEC
345.04
−7.56 −2.14%
USD · close Oct 23
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Work order
49
WATCH · shorts 49
Insiders, 90 days
0
no open-market filings in 90 days
Congress, 90 days
0 / 0
no disclosures naming it
Big money
0 / 15
none of the tracked funds disclose it
Calls on record
0
nobody we score has called it yet
MKT CAP $13.7BP/E 19.8DIV YIELD 1.28%FCF YIELD 6.32%REV TTM $5.1B +1.9%NET INCOME $724.5M −10.1%NET DEBT $2.2B52W 295.41 – 418.74SEC XBRL · TTM TO Invalid Date

How CSL rewrote its risk factors

10-K ITEM 1A · FY2024 → FY2025
Text kept
39%
of sentences unchanged
Added
34
new sentences
Dropped
31
sentences removed
Length
+93
words, now 2,278

New in FY2025

  • The Company’s business, financial condition, results of operations or cash flows can be affected by a number of factors, including those material factors set forth below, those set forth in our “Forward Looking Statements” disclosure in Item 7 and those set forth elsewhere in this Annual Report on Form 10-K, any one of which could cause the Company’s actual results to vary materially from recent results or from anticipated future results and make an investment in the Company speculative or risky.
  • Strategic, Business and Operational Risks The Company’s growth strategy is partially dependent on the acquisition and successful integration of other businesses.
  • A key pillar of the Company’s Vision 2030 strategic plan is building scale with synergistic acquisitions.
  • When companies become available for purchase, the process is often highly competitive, which tends to result in relatively high valuations for the target company.
  • There can be no assurance that the Company will be able to continue to identify, negotiate and finance suitable acquisitions at values the Company considers reasonable.
  • Acquisitions involve numerous risks, including the failure to realize expected revenue growth and/or operating and cost synergies from integration initiatives, an increased dependency on the markets served, the diversion of management’s attention from its existing operations or increased debt to finance the acquisitions.
  • The successful realization of revenue growth, cost reductions and synergies and increases in profitability overall are dependent upon successful integration initiatives.
  • If these integration initiatives are not fully realized, there may be a negative effect on the Company’s business, financial condition, results of operations or cash flows, including goodwill and/or intangible asset impairments, which may be material.
  • The loss of, a significant decline in business with, or pricing pressure from, one or more of the Company’s key customers could adversely affect the Company’s business, financial condition, results of operations or cash flows.
  • These markets have experienced recent consolidation among distributors of roofing materials and complementary building products.
  • The Company could be adversely affected by any significant damage to, or prolonged disruption of, our manufacturing facilities.
  • The Company has made substantial investments in manufacturing facilities, and many products are produced at a limited number of locations.
  • These facilities could be materially damaged or operations at these facilities could be materially disrupted by natural disasters, such as floods, tornados, hurricanes, fires and earthquakes, as well as governmental or administrative actions, regulatory issues, civil unrest, industrial accidents, unavailability or excessively high cost of raw materials, mechanical equipment failure, human error, cybersecurity breaches, widespread health emergencies, theft, sabotage or other reasons.
  • We could incur uninsured losses and liabilities arising from such events, including damage to our reputation, or suffer material losses in operational capacity, which could have a material adverse impact on our business, financial condition, results of operations or cash flows.
  • The development and introduction of new products, or the failure to do so, could have a material adverse effect on our business, financial condition, results of operations or cash flows.
  • A key pillar of the Company’s Vision 2030 strategic plan is driving growth through continued investment in new product innovation.
  • Our likelihood of success in investing in new products must be considered in light of the expenses, difficulties and delays frequently encountered in connection with the early phases of new product development, including the difficulties involved in obtaining permits and regulatory approvals, planning and constructing new manufacturing facilities, and establishing, maintaining or expanding customer relationships.
  • While Table of Content s we strive to introduce new products, our efforts to develop and market new products may be unsuccessful or unprofitable, which could adversely affect our business, financial condition, results of operations or cash flows.
  • Among the economic factors which may affect performance are: manufacturing activity, commercial and residential construction, difficulties entering new markets and general economic conditions such as inflation, deflation, interest rates, tariffs and credit availability.
  • If these conditions deteriorate, however, the Company’s business, financial condition, results of operations or cash flows could be adversely affected.
  • A decline in the construction market, particularly in construction repair and replacement activities, could adversely affect the Company’s business, financial condition, results of operations or cash flows.
  • Raw materials, including inbound freight, accounted for approximately 66% of the Company’s cost of goods sold in 2025.
  • Significant increases in the costs of these materials may not be recovered through selling price increases and significant disruption to the Company's supply chains or significant shortages of materials could adversely affect the Company’s business, financial condition, results of operations or cash flows.
  • To date, costs of complying with environmental, health and safety requirements have not been material, and the Company did not have any significant accruals related to potential future costs of environmental remediation as of December 31, 2025 and 2024, nor are any material asset retirement obligations recorded as of those dates.
  • However, the nature of the Company’s operations Table of Content s and its long history of industrial activities at certain of its current or former facilities, as well as those acquired, could potentially result in material environmental liabilities or asset retirement obligations.
  • We have made several public commitments regarding our intended reduction of GHG emissions, including commitments to achieve net zero GHG emissions by 2050 and the establishment of science-based targets to reduce GHG emissions from our operations and the operations of our value chain.
  • Cybersecurity breaches or significant disruptions of our information technology systems, increased compliance costs or violations of data privacy laws could adversely affect our business.
  • The Company could face product liability claims, and we may not have sufficient insurance to cover those claims.
  • Our building products are used in a wide variety of commercial, residential and industrial applications.
  • We face an inherent risk of exposure to product liability or other claims in the event our products are alleged to be defective or that the use of our products is alleged to have resulted in harm to others or their property.
  • If product liability lawsuits against us are successful, it could have an adverse impact on our financial condition and results of operations.
  • Moreover, any such lawsuits, whether or not successful, could result in adverse publicity to us, which could harm our reputation and cause our sales to decline.
  • We maintain insurance coverage to protect us against product liability Table of Content s claims, but that coverage may not be adequate to cover all claims that may arise, or we may not be able to maintain adequate insurance coverage in the future at an acceptable cost.
  • Any liability not covered by insurance or that exceeds our established reserves could materially and adversely impact our business, financial condition and results of operations.

Gone since FY2024

  • The Company’s business, financial condition, results of operations and cash flows can be affected by a number of factors including those material factors set forth below, those set forth in our “Forward Looking Statements” disclosure in Item 7 and those set forth elsewhere in this Annual Report on Form 10-K, any one of which could cause the Company’s actual results to vary materially from recent results or from anticipated future results and make an investment in the Company speculative or risky.
  • Strategic, Business and Operational Risks The Company’s earnings growth strategy is partially dependent on the acquisition and successful integration of other businesses.
  • The Company has a history of acquiring businesses as part of its earnings growth strategy.
  • Typically, the Company considers acquiring companies that can be integrated within an existing business.
  • Acquisitions of this type involve numerous risks, which may include a failure to realize expected revenue growth and operating and cost synergies from integration initiatives, increasing dependency on the markets served by the combined businesses or increased debt to finance the acquisitions.
  • The Company also considers the acquisition of businesses that may operate independent of existing businesses.
  • Acquisitions of this type involve risks similar to those encountered when acquiring companies that can be integrated within an existing business, including a failure to realize expected revenue growth or operating and cost reductions within the acquired business, and could increase the possibility of diverting corporate management’s attention from its existing operations.
  • The successful realization of revenue growth, cost reductions and synergies with our existing businesses, and within acquired stand-alone businesses, and increases in profitability overall, are dependent upon successful integration initiatives.
  • If these integration initiatives are not fully realized, there may be a negative effect on the Company’s business, financial condition, results of operations and cash flows, including goodwill and/or intangible asset impairments, which may be material.
  • Refer to Note 3 for recent acquisition information.
  • The loss of, a significant decline in business with, or pricing pressure from, one or more of the Company’s key customers could adversely affect the Company’s business, financial condition, results of operations and cash flows.
  • Business—Overview—Description of Businesses by Segment” for a discussion of customer concentrations for CCM.
  • Failure to successfully complete restructuring activities could negatively affect the Company.
  • From time to time, the Company may undertake consolidation and other restructuring projects in an effort to reduce costs and streamline its operations.
  • Such restructuring activities may divert management's attention from the Company’s core businesses, increase expenses on a short-term basis and lead to potential disputes with the employees, customers or suppliers of the affected businesses.
  • If restructuring activities are not completed in a timely manner or if anticipated cost savings, synergies and efficiencies are not realized, there may be a negative effect on the Company’s business, financial condition, results of operations and cash flows.
  • Refer to Note 4 for a discussion of disposition matters.
  • Among the economic factors which may affect performance are: manufacturing activity, commercial and residential construction, difficulties entering new markets and general economic conditions such as inflation, deflation, interest rates and credit availability.
  • If these conditions deteriorate, however, the Company’s business, financial condition, results of operations and cash flows could be adversely affected.
  • A decline in the construction market, particularly in construction repair and replacement activities, could adversely affect the Company’s business, financial condition, results of operations and cash flows.
  • Raw materials, including inbound freight, accounted for approximately 66% of the Company’s cost of goods sold in 2024.
  • Significant increases in the costs of these materials may not be recovered through selling price increases and significant disruption to the Company's supply chains or significant shortages of materials could adversely affect the Company’s business, financial condition, results of operations and cash flows.
  • Quantitative and Qualitative Disclosures About Market Risk” for additional information regarding commodity price risk.
  • To date, costs of complying with environmental, health and safety requirements have not been material, and the Company did not have any significant accruals related to potential future costs of environmental remediation as of December 31, 2024 and 2023, nor are any material asset retirement obligations recorded as of those dates.
  • However, the nature of the Company’s operations and its long history of industrial activities at certain of its current or former facilities, as well as those acquired, could potentially result in material environmental liabilities or asset retirement obligations.
  • As of the date of this filing, we have made several public commitments regarding our intended reduction of GHG emissions, including commitments to achieve net zero GHG emissions by 2050 and the establishment of science-based targets to reduce GHG emissions from our operations and the operations of our value chain.
  • General Risk Factors Cybersecurity breaches or significant disruptions of our information technology systems, increased compliance costs or violations of data privacy laws could adversely affect our business.
  • The Company is subject to risks arising from widespread health emergencies.
  • The Company’s businesses operate in market segments that could be impacted by widespread health emergencies.
  • Operating during a widespread health emergency exposes the Company to a number of risks, including diminished demand for our products and our customers’ products, suspensions in the operations of our manufacturing facilities, maintenance of appropriate labor levels, our ability to ship products to our customers, interruptions in our supply chains and distribution systems, increases in operating costs related to pay and benefits for our employees, collection of trade receivables in accordance with their terms, and potential impairment of goodwill and long-lived assets, any of which, individually or in the aggregate, could have a material adverse effect on the Company’s business, financial condition, results of operations and cash flows.
  • While these risks have not to date, in the aggregate, had a material adverse impact on the Company, we are unable to predict the extent or duration of impacts from widespread health emergencies as they will depend on future developments, which are highly uncertain and cannot be predicted at this time, such as the duration and frequency of, and government responses to, such emergencies.

Sentence-level comparison of Item 1A in the two most recent 10-Ks (FY2024 ↗, FY2025 ↗). A reworded sentence counts as one dropped and one added, so heavy edits read as low “kept”. Headings and page furniture are stripped; nothing is summarised by a model.

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