Welcome to our dedicated page for CSW Industrials news (Ticker: CSWI), a resource for investors and traders seeking the latest updates and insights on CSW Industrials stock.
CSW Industrials, Inc. (NASDAQ: CSWI) is a diversified industrial growth company with a robust portfolio of industry-leading businesses. The company operates across three core segments: Contractor Solutions, Engineered Building Solutions, and Specialized Reliability Solutions. Through these segments, CSW Industrials manufactures, distributes, and sells a wide range of industrial products, which are essential in various applications, from HVAC and refrigeration to specialty chemicals.
Some of the prominent brands in CSWI's portfolio include RectorSeal, Whitmore, Jet-Lube, Strathmore, Smoke Guard, and Balco. These brands are well-recognized for their high-quality products and have established leadership in their respective markets. The company offers mechanical products for heating, ventilation, air conditioning, and refrigeration (HVAC/R) applications, along with coatings, sealants, adhesives, and high-performance specialty lubricants.
CSW Industrials has shown impressive financial performance, with significant revenue generated from its Contractor Solutions segment in the US market. The company is committed to continuous innovation, providing efficient and performance-enhancing products designed for professional end-use customers.
In recent developments, CSW Industrials has reported strong financial results for the fiscal year 2024 across all quarters. The company has released highlights of its fiscal year performance, showcasing growth and stability. The reports include detailed comparisons with the fiscal year 2023, offering a transparent view of the company's progress.
With a solid foundation and strategic domain expertise, CSW Industrials continues to focus on expanding its scalable platforms, ensuring long-term growth and value for its shareholders.
CSW Industrials reported impressive fiscal fourth quarter results, with a 35.4% revenue increase to $133.4 million and an adjusted EBITDA rise of 50.5% to $30.9 million. Despite GAAP net income declining to $9.6 million or $0.61 per share, adjusted EPS improved to $0.88. Full-year revenue also grew 8.6% to $419.2 million. The company noted challenges from rising commodity prices but emphasized its strong balance sheet and ongoing TRUaire integration, aiming for sustainable long-term growth. A 11.1% dividend increase to $0.15 per share was also declared.
CSW Industrials, Inc. (NASDAQ: CSWI) will release its fiscal fourth quarter and full year earnings results on May 20, 2021, prior to market opening. A conference call to discuss these results will occur on the same day at 10:00 a.m. ET. Participants can join the call by dialing 1-877-407-0784, with international callers using 1-201-689-8560. A live webcast is also available on the company's website. Additionally, a telephonic replay will be available following the call until June 3, 2021.
The Board of Directors of CSW Industrials (CSWI) announced a quarterly cash dividend of $0.15 per share, marking an 11% increase from the previous quarter. This dividend will be paid on May 14, 2021, to shareholders of record as of the close of business on April 30, 2021. Chairman Joseph B. Armes highlighted that this decision aligns with the company's capital allocation strategy aimed at returning cash to shareholders.
CSW Industrials (CSWI) announced a new joint venture, Shell & Whitmore Reliability Solutions, with Shell's subsidiary, focusing on the rail and mining sectors in North America. This 50:50 JV leverages both companies' technologies to create a comprehensive product portfolio, including lubricants and reliability solutions. Operations will start immediately from Rockwall, Texas, enhancing capacity and distribution. The collaboration aims to provide tailored solutions and improve operational efficiency for customers, presenting significant growth potential.
CSW Industrials reported fiscal Q3 2021 revenue of $89.9 million, a 7.4% increase from the previous year, driven by a 20.8% growth in HVAC/R markets. EPS was $0.16, or $0.59 adjusted. Year-to-date revenue slightly declined to $285.8 million, with a year-to-date EPS adjusted of $2.49. The acquisition of TRUaire added $4.5 million to HVAC/R sales. Operating expenses rose to 39.2% of revenue due to acquisition-related costs. Despite growth in some areas, net income fell to $2.3 million, influenced by increased expenses and transaction costs.
CSW Industrials (CSWI) will release its fiscal third quarter earnings results for the period ending December 31, 2020, on February 5, 2021, prior to market opening. A conference call will follow at 10:00 a.m. ET to discuss these results. Participants can join via phone or live webcast. The company is known for its diversified industrial growth across two segments: Industrial Products and Specialty Chemicals, providing performance-optimizing solutions in various markets including HVAC/R, plumbing, and energy.
CSW Industrials, Inc. (CSWI) has partnered with Shell to form a joint venture, Shell & Whitmore Reliability Solutions, LLC, aimed at marketing lubricants and related products to the North American rail and U.S. mining sectors. Each party will hold a 50% share in the JV, leveraging their combined expertise and technologies to enhance offerings in these sectors. Operations are set to begin in the first half of 2021, optimizing production capabilities at Whitmore's Rockwall, Texas facility, and expanding distribution channels for reliability products.
The Board of Directors of CSW Industrials has declared a quarterly cash dividend of $0.135 per share. This dividend is payable on February 12, 2021, to shareholders of record by the close of business on January 29, 2021. CSWI is known for its diversified industrial products and specialty chemicals services across various markets including HVAC/R and plumbing.
Canoo Inc. (Nasdaq: GOEV) announced the composition of its Board of Directors, emphasizing the diversity and global experience of its members. Executive Chairman Tony Aquila stated that the selected directors bring extensive knowledge to help capitalize on opportunities in the electric vehicle market. New board members include Debra von Storch, Josette Sheeran, Thomas Dattilo, Rainer Schmueckle, Foster Chiang, and Greg Ethridge. With their backgrounds in finance, governance, and technology, the board aims to effectively guide Canoo as it ventures into the public domain.
CSW Industrials has finalized its acquisition of TRUaire for $284 million in cash and approximately 850,000 shares of common stock. This strategic move enhances CSWI's HVAC/R product lineup, integrating TRUaire's leading grille, register, and diffuser products. The acquisition aims to leverage CSWI's distribution channels and technology investments, fostering growth and efficiency in TRUaire's operations. Post-transaction, CSWI maintains substantial liquidity with around $60 million available on its credit facility.
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