DALLAS, May 13, 2024 (GLOBE NEWSWIRE) -- CSW Industrials, Inc. (NASDAQ:CSWI) announced that it will release its earnings results for the fiscal fourth quarter and year ended March 31, 2024 on Thursday, May 23, 2024, before the market opens. The Company will host a conference call the same day at 10:00 am Eastern Time to discuss the results. Participants may access the call at 1-877-407-0784, international callers may use 1-201-689-8560, and request to join the CSW Industrials earnings call. A live webcast w ...

U.S. financial markets continue to be volatile, as the annual Consumer Price Index (CPI) for March 2024 increased, following the trend in the past couple of months. Investors are expecting the central bank to be less hawkish this year, but markets are concerned about the Federal Reserve’s reactions to higher-than-expected CPI data and a strong labor market. Though the Fed’s chairman, Jerome Powell, hinted at three rate cuts in 2024 despite sticky inflation, the current situation undermines such a possibilit ...

DALLAS, April 12, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of CSW Industrials, Inc. (NASDAQ:CSWI) today declared a regular quarterly cash dividend of $0.21 per share. This represents an increase of $0.02 per share, or approximately 10.5%, as compared to the declared dividend in the prior quarter. The dividend is payable on May 10, 2024, to shareholders of record as of the close of business on April 26, 2024. "We are pleased to announce another increase in our quarterly dividend, reflecting our strong ...

Investment Highlights Capital investment of $27.4 million for acquisition of Dust Free®, which offers an extensive line of patented products for residential and commercial indoor air quality and HVAC applicationsValuation represents 7.5x Dust Free's trailing twelve-months' EBITDA, excluding future earn-outs, which if achieved would be incrementally accretive to CSWIClosed on two smaller acquisitions, totaling $2.9 million, in plumbing end marketExpected to be accretive to earnings per share in the first ful ...

Financial Data and Key Metrics Changes - Adjusted EBITDA grew 18% on 2% growth in revenue, with adjusted EBITDA margin expanding by 270 basis points to 21% in Q3 [4] - Consolidated revenue for Q3 was $175 million, a 2.3% increase compared to the prior year, driven by organic growth through pricing initiatives and increased unit volumes [9] - Free cash flow grew 31% to $43 million in Q3, resulting in free cash flow per share of $2.76 compared to $2.13 in the same period last year [26] - Net income attributable to CSWI in Q3 was $17 million or $1.07 per diluted share, representing a 6% growth from $16 million or $1.01 per diluted share in the prior year [78] Business Segment Data and Key Metrics Changes - Contractor Solutions segment revenue was $115 million, accounting for 66% of consolidated revenue, with a 3% total growth compared to the prior year [10] - Engineered Building Solutions segment revenue increased by 13% to $28 million, benefiting from record backlog and positive pricing initiatives [43][79] - Specialized Reliability Solutions segment revenue decreased by 7% to $34 million due to temporary shipment delays, but EBITDA margin improved to 15% from 14% in the prior year [45] Market Data and Key Metrics Changes - Strong growth was observed in the Canadian multifamily housing market, with a focus on larger projects that may take longer to convert into revenue [7] - The HVAC/R market is expected to see growth despite some end markets experiencing declines, with a focus on innovative, high-value products [48][90] Company Strategy and Development Direction - The company continues to prioritize capital investments based on risk-adjusted returns to enhance long-term shareholder value [40] - CSWI is positioned to overcome market headwinds and pursue growth opportunities across its portfolio, focusing on high-value products in the HVAC/R market [8][60] - The company is preparing its budget for fiscal 2025 while recognizing that variables may change throughout the year [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a solid fourth quarter, with a strong start in January and expectations for record revenue growth for the full fiscal year [13][47] - The company is monitoring shipping costs closely, with potential temporary upward pressure on rates due to geopolitical issues [5][65] - Management remains optimistic about long-term growth despite temporary headwinds, emphasizing the strength of their business model and market positioning [60] Other Important Information - The company announced the appointment of Jeff Underwood as Senior Vice President and General Manager of the Contractor Solutions segment [29][81] - The effective tax rate for Q3 was 43.2% on a GAAP basis, with an adjusted rate of 32.5% due to the finalization of international tax deductions [27] Q&A Session Summary Question: What was delayed and its impact on the quarter? - Management indicated that a series of shipments were delayed due to packaging and staffing shortages, but they expect to recover this in January [31][83] Question: What is the strength seen in January? - January showed strong performance, with recovery from missed shipments and organic growth contributing to positive trends [69][84] Question: How will shipping rate increases affect pricing? - Management stated that if shipping rates remain high, they will consider adjusting pricing to maintain margins, while labor costs are already factored into expectations [86] Question: What insights can be shared about HVAC/R demand for the remainder of the year? - Management noted that January's strength is encouraging, and they anticipate a good season, although weather unpredictability remains a factor [90]

DALLAS, Feb. 01, 2024 (GLOBE NEWSWIRE) -- CSW Industrials, Inc. (NASDAQ:CSWI) announced that Jeff Underwood has been appointed Senior Vice President of CSWI and General Manager, Contractor Solutions, reporting to Joseph B. Armes, CSW Industrial's Chairman, Chief Executive Officer, and President, effective April 1, 2024.   Mr. Underwood, who joined CSWI in 2018 and currently leads sales and marketing for the Contractor Solutions segment, will succeed Don Sullivan, current Executive Vice President of CSWI and ...

Our Outlook CSW INDUSTRIALS, INC. FORM 10-Q Item 1. Financial Statements. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS CSW INDUSTRIALS, INC. (Exact name of registrant as specified in its charter) | --- | --- | --- | --- | --- | --- | |---------------------------------|-------------------------|-------------------------------------------------------|-------|-----------------------------------|---------------------------------| | | | | | | | | Large accelerated filer ☒ | Accelerated filer ☐ | Non-acce ...

DALLAS, Jan. 22, 2024 (GLOBE NEWSWIRE) -- CSW Industrials, Inc. (NASDAQ: CSWI) announced that it will release its earnings results for the fiscal third quarter ended December 31, 2023 on Thursday, February 1, 2024, before the market opens. The Company will host a conference call the same day at 10:00 am Eastern Time to discuss the results. Participants may access the call at 1-877-407-0784, international callers may use 1-201-689-8560, and request to join the CSW Industrials earnings call. A live webcast wi ...

DALLAS, Jan. 22, 2024 (GLOBE NEWSWIRE) -- CSW Industrials, Inc. (NASDAQ: CSWI) announced that it will release its earnings results for the fiscal third quarter ended December 31, 2023 on Thursday, February 1, 2024, before the market opens. The Company will host a conference call the same day at 10:00 am Eastern Time to discuss the results. Participants may access the call at 1-877-407-0784, international callers may use 1-201-689-8560, and request to join the CSW Industrials earnings call. A live webcast wi ...

Fiscal 2024 Second Quarter Results 2 Index 11 21 34 Corporate Sustainability Update CSW Industrials, Inc. (Nasdaq: CSWI) Engineered Building Solutions 67% Key Highlights ~$2.8B Acquisition Capital Invested Since December 2020 Investor Presentation November 2023 • Total revenue CAGR of 18.4% from FY18 through FY231 • 21.6% adjusted EBITDA Margin annual average FY18 – FY231 November 2023 Investor Presentation | --- | --- | --- | |-------------------------------------------------------------------------------- ...