Csw Industrials Inc - CSWI STOCK NEWS

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.

CSW Industrials has executed a definitive stock purchase agreement to acquire TRUaire for approximately $360 million, enhancing its position in the growing HVAC/R accessory market. The acquisition aligns with CSWI's strategy to leverage distribution channels and expand its product portfolio, with expected annual revenue from HVAC/R sales representing about 49% of CSWI’s total. The transaction is projected to be accretive to earnings per share in its first year, while maintaining a healthy balance sheet with a leverage ratio of 2.1x.

CSW Industrials reported record results for the fiscal second quarter ending September 30, 2020, with revenues of $104.9 million, a 3.6% increase year-over-year. Operating income rose 10.2% to $22.2 million, reflecting a margin improvement to 21.1%. Earnings per diluted share reached $1.10, up from $0.58 in the previous year. The company announced a new $100 million share repurchase program. While growth was strong in HVAC/R and plumbing markets, challenges remain in other sectors due to pandemic impacts, with anticipated moderate revenue declines in the second half.

CSW Industrials (CSWI) announced it will release its fiscal second quarter earnings on October 30, 2020, before market opening. A conference call will follow at 10:00 a.m. ET the same day to discuss the results. Participants can join the call via phone or access it through a live webcast on CSWI's investor relations site. A replay of the call will be available starting 1:00 p.m. ET on October 30 until November 13, 2020. CSWI operates in the Industrial Products and Specialty Chemicals sectors, focusing on HVAC/R applications and other markets.

CSW Industrials has announced a quarterly cash dividend of $0.135 per share, payable on November 13, 2020. Shareholders of record as of the close of business on October 30, 2020 will be eligible for this dividend. CSWI operates in diversified industrial sectors, offering products for HVAC/R applications and specialty chemicals, serving various markets including plumbing and mining. This dividend reflects the company's ongoing commitment to returning value to its shareholders.

CSW Industrials reported fiscal first-quarter 2021 results, revealing revenues of $91.0 million, down from $102.3 million year-over-year. Operating income decreased to $16.3 million, with earnings per share of $0.81 compared to $1.01 the previous year. The decline was attributed to COVID-19 pandemic impacts on demand, though cash flow from operations improved to $14.1 million. The company repurchased $7.3 million in shares and plans to continue its dividend payments. Leadership remains optimistic about recovery in certain markets despite forecasting lower revenue and earnings in the first half.