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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.
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.
CSW Industrials, Inc. (Nasdaq: CSWI) has announced the promotion of Don Sullivan to Executive Vice President, who will continue as General Manager of the Industrial Products segment. Since 2016, Sullivan has successfully led the segment through robust growth, integrating acquisitions and driving margin expansion. Joseph B. Armes, Chairman and CEO, expressed confidence in Sullivan's leadership and expertise as CSWI aims to execute its growth strategy effectively.
CSW Industrials reported a fiscal 2020 full-year revenue of $385.9 million, a 10.2% increase from 2019, with adjusted EPS rising to $3.20. The fourth quarter saw revenue of $98.5 million, up 7.7%, despite declines anticipated due to the COVID-19 pandemic. The company demonstrated a robust balance sheet, with $18.3 million in cash and a $250 million credit facility. However, management expects significant demand degradation in fiscal 2021's first half but anticipates recovery in the latter half.
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