Simply put, we have asked a lot of our employees over the past 1.5 years, and the team has risen to the occasion every time, especially in the third quarter.
In the third quarter, we successfully delivered on our key pillars of Vision 2025, including driving organic growth in excess of 5%.
In the third quarter, we delivered over 19% organic growth for the company.
As a reminder, buildings account for approximately 30% to 40% of annual global greenhouse gas emissions.
Blueskin prevents uncontrolled air leakage and can yield up to 30% savings on heating and cooling costs.
Despite closing on Henry, which was the largest acquisition in Carlisle's history, we continue to repurchase shares, spending $25 million during the third quarter and bringing our total repurchases year-to-date to $291 million.
As a reminder, since 2016, we have had over $1.8 billion in share repurchases.
Throughout 2021, we have added LEDs and motion controls at many factories, saving more than 3.5 million kilowatt-hours of electricity, which translates into a reduction of close to 1,300 metric tons of greenhouse gases.
In an exciting new program, we plan to upgrade our expanded polystyrene facility in Dixon, California, to enable production using 100% recycled materials by the end of next year.
We'll have the ability to recycle as much as 150 tons of our production and customer scrap annually, which avoids significant waste from entering landfills.
Revenue increased 25% year-over-year with organic revenue up over 19%.
Adjusted earnings per share increased 27% year-over-year to $2.99 as higher volumes and price and cost discipline more than offset inflation during the quarter.
CCM's organic growth in the third quarter was over 23% year-over-year.
And notably, organic sales were close to 14% higher than the third quarter of 2019.
CCM continues to benefit from a growing backlog fueled by the strong reroofing cycle in the U.S., which we estimate will grow from a market size of $6 billion to $8 billion in the next decade and with an ever-increasing emphasis on the energy efficiency of buildings, our proactive pricing actions and our investments in expanding our presence in the Building Envelope.
With similar cultures around innovation, pricing to value, focus on customers and continuous improvement and strong results out of the gate, we are increasingly confident in Henry's ability to exceed our preliminary forecast of $1.25 in adjusted earnings per share accretion in 2022.
Architectural Metals and polyurethanes were both up over 35% in the quarter and continue to progress well on profitability improvements.
At CIT, third quarter revenue grew 6% year-over-year, evidence of continued progress in both CIT's Commercial Aerospace and Medical Technology platforms.
On CFT, given its reenergized commitment to new products, improved operational efficiencies, price realization from earning the value of innovation and an improved customer experience, CFT generated revenue growth of 9% year-over-year and adjusted EBIT growth of 16% year-over-year in the third quarter.
Revenue was up 25% in the third quarter, driven by volume growth at all of our businesses, price and the acquisition of Henry.
Organic revenue was up 19%, driven by CCM, which delivered 23.3% organic growth.
Acquisitions contributed 4.8% of sales growth for the quarter, and FX was a 30 basis point tailwind.
We can see third quarter adjusted earnings per share was $2.99, which compares to $2.35 last year.
Volume, price and mix combined accounted for $2.15 of the year-over-year increase.
Raw material, freight and labor costs were a $1.75 year-over-year headwind.
Interest and tax together were a $0.05 tailwind.
Share repurchases contributed $0.06.
And higher opex was an $0.11 headwind year-over-year.
At CCM, the team again delivered outstanding results, with revenues increasing 29%, driven by volume, price, contributions from Henry, along with a 10 basis point foreign currency translation tailwind.
Adjusted EBITDA margin at CCM was 22.6% in the third quarter, a 240 basis point decline from last year, driven by higher raw material prices, labor inflation and a return to more normalized SG&A spending, partially offset by volume, price and COS savings.
Adjusted EBITDA grew 16.6% to $240.5 million, again demonstrating the earnings power of our CCM business.
CIT revenue increased 6.1% in the third quarter.
CIT's adjusted EBITDA margin improved year-over-year 13%, driven by Commercial Aerospace and Medical volume recovery, along with COS, partially offset by raw material and labor inflation.
CFT's sales grew 9.4% year-over-year.
Organic revenue improved 6.3%.
Additionally, acquisitions added 0.9% in the quarter, and FX contributed 2.2%.
CFT is well positioned to accelerate through the recovery due to continued stabilization in end markets, driven by an improved industrial capital spending outlook, coupled with new product introductions, which have included $12.4 million of incremental new product sales in 2021 year-to-date, along with pricing results.
Adjusted EBITDA margins of 15.3% or 40 basis point decline year-over-year.
On slide s 14 and 15, we show selected balance sheet metrics.
We ended the quarter with $296 million of cash on hand and $1 billion of availability under our revolving credit facility.
In the quarter, we repurchased 124,000 shares for $25 million, bringing our 2021 year-to-date total to 1.7 million shares for $291 million.
We paid $28 million in dividends in the third quarter, bringing our '21 total to $84 million.
We invested $34 million of capex into our high-returning businesses to drive organic growth, bringing our 2021 total to $89 million.
Finally, we had a successful debt issuance of $850 million of senior notes at a weighted average coupon of 1.6%, which lowered Carlisle's cost of debt from 3.35% to 2.85%.
In addition, as has been noted, we completed the purchase of Henry Company for $1.575 billion.
Henry is expected to deliver approximately $100 million in free cash flow on our first full year of ownership.
We expect meaningful cost synergies of $30 million annually by 2025.
Finally, we expect Henry to be immediately accretive to Carlisle's EBITDA margin, adding over $1.25 of earnings per share in 2022.
Free cash flow for the quarter was $82 million, a 55% decline year-over-year due to increased working capital usage related to our 25% revenue growth in the quarter.
Corporate expense is now expected to be approximately in the $120 million to $122 million range, slightly lower than our previous estimate of $125 million.
We expect depreciation and amortization expense to be approximately $230 million, which now reflects the Henry acquisition.
We expect free cash flow conversion to be in the 105% to 110% range, slightly lower than our previous estimate, primarily due to high-cost raw materials that we are holding in inventory.
We now expect capital expenditures of approximately $125 million, lower than previous estimates mostly due to timing.
Net interest expense is now expected to be approximately $94 million for the year, higher than previous guidance due to our debt issuance in the quarter.
We continue to expect our tax rate to be approximately 25% for the year.
And finally, we expect restructuring expense to be approximately $15 million to $20 million in 2021.
Considering this momentum, we are increasing our anticipated revenue growth to mid-20% in 2021.
Taken together and coupled with significant restructuring at CIT over the past 18 months, CIT is now positioned to take advantage of the ongoing recovery.
We remain committed to our Vision 2025 goals of $8 billion in revenues, 20% operating income and 15% ROIC, all driving to exceed $15 of earnings per share by 2025.

Summary:
Adjusted earnings per share increased 27% year-over-year to $2.99 as higher volumes and price and cost discipline more than offset inflation during the quarter.
We can see third quarter adjusted earnings per share was $2.99, which compares to $2.35 last year.