Carlisle Companies Incorporated (NYSE:CSL) Q4 2022 Earnings Call Transcript

Chris Koch: Well, the first thing we talk about can extract the value and every decision, every company, they have to make the decision for their company. I don’t know what their synergies were or how they’re going to integrate, how much they’re going to integrate, whether they keep the team alone, whether they seek to get that or whether they even bring in things like pricing. So I can’t really comment on whether the pricing is good or not. I mean they’ll have to decide that, and we’ll see that in their numbers like we would at Carlisle. But what’s good for, I think, the industry is it’s demonstrating that the companies in this space, certainly Carlisle, you can see our margins some are private may have been undervalued in the last few years.

And it’s a very good space, North America to be in with good underlying demand. The ESG trends are positive for all of us. We have great products that many can be recycled and just a great contribution. We’ve got the IRA act that came out in the Biden administration. We’ve got reshoring. And I think the price is being paid for things like Firestone to Malarkey and now Duralast reflect a lot of confidence by people in this framework for the next five to 10 years. And I think that’s good for Carlisle. I think that’s also good for our investors. It sends a really good signal about that. And I think you can look at multiples then and say are the public traded companies trading at those kind of multiples. And if not, they’re probably trading at a discount based upon what we see in the market.

So I think overall, yes, it’s good for all of us.

John Joyner: Okay. Excellent. Thank you, Chris and team. I appreciate it.

Chris Koch: You bet, John.

Operator: Thank you, Mr. Joyner. There are no additional questions waiting at this time. So I will turn the call over to the management team for any further remarks.

Chris Koch: Well, thanks, Hannah. This does conclude our fourth quarter 2022 earnings call. I appreciate everyone for the questions. Thanks for your participation, and we look forward to speaking with you on our next earnings call. Thanks.

Operator: That concludes today’s call. Thank you for your participation. You may now disconnect your lines.