What the changes say
- Carlisle updated its risk profile around Vision 2030, adding manufacturing, product innovation, and product liability threats while dropping restructuring and health emergency risks.
What changed since the prior 10-K
New
- NewStrategic, Business and Operational Risks
The Company could be adversely affected by any significant damage to, or prolonged disruption of, our manufacturing facilities
The Company faces potential material disruptions or uninsured losses at its manufacturing facilities due to natural disasters, regulatory issues, accidents, or supply shortages.
- NewStrategic, Business and Operational Risks
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
The Company's Vision 2030 strategic plan relies on new product innovation, but development efforts may encounter delays, regulatory hurdles, or prove unprofitable.
- NewIndustry and Macroeconomic Risks
The Company could face product liability claims, and we may not have sufficient insurance to cover those claims
The Company faces inherent product liability risks from its building products and may lack sufficient insurance coverage for resulting claims or lawsuits.
Dropped
- DroppedStrategic, Business and Operational Risks
Failure to successfully complete restructuring activities could negatively affect the Company
- DroppedIndustry and Macroeconomic Risks
The Company is subject to risks arising from widespread health emergencies
Reworded
- 81% rewrittenStrategic, Business and Operational Risks
The Company’s growth strategy is partially dependent on the acquisition and successful integration of other businesses
Updated to frame acquisitions around the Vision 2030 strategy, highlighting competitive target valuations and valuation risks alongside integration hurdles.
Was: The Company’s earnings growth strategy is partially dependent on the acquisition and successful integration of other businesses
- 33% rewrittenIndustry and Macroeconomic Risks
Raw material costs are a significant component of the Company’s cost structure and are subject to volatility, including cost increases, significant disruptions to the Company's supply chains or significant shortages of materials
Updated the cost of goods sold baseline year from 2024 to 2025 for raw materials like petroleum-based products, chemicals, and resins accounting for approximately 66% of costs.
- 23% rewrittenStrategic, Business and Operational Risks
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
Added a note that the niche roofing and building products markets served by the CCM segment have experienced recent distributor consolidation.
Was: 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
All 11 risk factors
Headings as the filing states them, in filing order.
Strategic, Business and Operational Risks
- 01The Company’s growth strategy is partially dependent on the acquisition and successful integration of other businesses81% rewritten
- 02The 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 flows23% rewritten
- 03The Company could be adversely affected by any significant damage to, or prolonged disruption of, our manufacturing facilitiesNew
- 04The 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 flowsNew
Industry and Macroeconomic Risks
- 05Several of the market segments that the Company serves are cyclical and sensitive to domestic and global economic conditions
- 06The Company has significant concentrations in the construction market
- 07Raw material costs are a significant component of the Company’s cost structure and are subject to volatility, including cost increases, significant disruptions to the Company's supply chains or significant shortages of materials33% rewritten
- 08The Company's operations are subject to risks related to environmental laws and regulations
- 09Global climate change and related regulations could negatively affect the Company
- 10Cybersecurity breaches or significant disruptions of our information technology systems, increased compliance costs or violations of data privacy laws could adversely affect our business
- 11The Company could face product liability claims, and we may not have sufficient insurance to cover those claimsNew
Other Carlisle Companies 10-Ks
- FY2024 10-K risk factors10 risks
Carlisle Companies relies heavily on acquisitions for earnings growth while facing severe customer concentration in its CCM segment. Raw material costs, particularly petroleum-based commodities and inbound freight, represent 66 percent of cost of goods sold in 2024. The business depends heavily on cyclical commercial and residential construction markets.
Filed Feb 14, 2025
About this page
The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.