Charlotte manufacturer Carlisle Cos. reported second-quarter earnings Thursday that beat Wall Street expectations as sales surged almost 15 percent.
For the three months that ended June 30, earnings rose 26.2 percent from the same quarter in 2014 to $94.9 million, according to a securities filing. On a per-share basis, earnings from continuing operations were $1.43, one penny above the consensus estimate from analysts surveyed by Bloomberg.
Carlisle, which employs about 80 people at its Ballantyne headquarters, said profit rose because of lower raw material costs, higher sales volume and savings from the Carlisle Operating System. Lower selling costs and acquisition-related costs weighed on earnings.
Sales for the second quarter totaled $984.6, up 14.6 percent from the second quarter last year but below the $1.01 billion estimate from Bloomberg-surveyed analysts.
Carlisle said this spring’s $590 million purchase of Graco’s liquid-finishing business, which sells spray guns and other equipment for industrial applications of paints and coatings, boosted its quarterly sales by 7.2 percent. The company also said its October purchase of LHi Technology, which manufactures cables for the medical equipment and device industry, lifted total sales by 3.2 percent.
The manufacturer said foreign exchange fluctuations had a negative impact of 2 percent on its net sales.
“We remain very favorably positioned with our liquidity and strong balance sheet to continue to pursue growth opportunities both organically and through acquisitions, while returning value to shareholders,” said David Roberts, the company’s chairman and chief executive officer.
Carlisle, which generated $3.2 billion in sales last year, is a diversified manufacturer whose products are categorized in five business segments: construction materials, interconnect technologies, fluid technologies, brake and friction systems and food service products.