CSW Industrials, Inc. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>CSW Industrials, Inc. has filed its quarterly report (10-Q) for the period ending December 31, 2023.</b>

AI Summary

CSW INDUSTRIALS, INC. (CSW) filed a Quarterly Report (10-Q) with the SEC on February 1, 2024. CSW Industrials, Inc. filed a 10-Q report for the period ending December 31, 2023. The filing covers the period from October 1, 2023, to December 31, 2023. The company's fiscal year ends on March 31. The filing was made on February 1, 2024. CSW Industrials, Inc. is in the Adhesives & Sealants industry (SIC 2891).

Why It Matters

For investors and stakeholders tracking CSW INDUSTRIALS, INC., this filing contains several important signals. This 10-Q filing provides investors with an update on the company's financial performance and position during the third quarter of its fiscal year. Understanding the details within this report is crucial for assessing CSW Industrials' operational health, profitability, and any potential risks or opportunities.

Risk Assessment

Risk Level: low — CSW INDUSTRIALS, INC. shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not inherently contain significant new risks beyond those typically associated with public companies in this sector.

Analyst Insight

Review the financial statements and management's discussion and analysis within the 10-Q to understand the company's performance and outlook.

Key Numbers

• 2023-12-31 — Period End Date (Conformed period of report)
• 2024-02-01 — Filing Date (Filed as of date)
• 03-31 — Fiscal Year End (Company fiscal year end)
• 2891 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• CSW INDUSTRIALS, INC. (company) — Filer name
• 20231231 (date) — Conformed period of report
• 20240201 (date) — Filed as of date
• 2891 (industry_code) — Standard Industrial Classification
• Dallas (location) — Business address city
• CSWC Newco Corp. (company) — Former company name

FAQ

Industry Context

CSW Industrials operates within the Adhesives & Sealants industry.

Regulatory Implications

The filing is a standard 10-Q under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements (balance sheet, income statement, cash flow) for the quarter ended December 31, 2023.
2. Read the Management's Discussion and Analysis of Financial Condition and Results of Operations for insights into performance drivers.
3. Check for any updates on risk factors or legal proceedings mentioned in the report.

Year-Over-Year Comparison

This is a 10-Q filing, representing a quarterly update, and does not directly compare to a prior period's 10-Q in this extract.

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share CSWI Nasdaq Stock Market LLC

Filing Documents

• cswi-20231231.htm (10-Q) — 1209KB
• q32024ex311.htm (EX-31.1) — 9KB
• q32024ex312.htm (EX-31.2) — 9KB
• q32024ex321.htm (EX-32.1) — 4KB
• q32024ex322.htm (EX-32.2) — 4KB
• 0001624794-24-000007.txt (&nbsp;) — 7284KB
• cswi-20231231.xsd (EX-101.SCH) — 46KB
• cswi-20231231_cal.xml (EX-101.CAL) — 77KB
• cswi-20231231_def.xml (EX-101.DEF) — 232KB
• cswi-20231231_lab.xml (EX-101.LAB) — 680KB
• cswi-20231231_pre.xml (EX-101.PRE) — 452KB
• cswi-20231231_htm.xml (XML) — 1083KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 1 Condensed Consolidated Statements of Income and Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended December 3 1 , 2023 and 2022 (unaudited) 1 Condensed Consolidated Balance Sheets as of December 31 , 2023 and March 31, 2023 (unaudited) 3 Condensed Consolidated Statements of Equity as of December 31 , 2023 and 2022 (unaudited) 4 Condensed Consolidated Statements of Cash Flows for the nine months ended December 31 , 2023 and 2022 (unaudited) 6 Notes to the Condensed Consolidated Financial Statements (unaudited) 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 32 Item 4.

Controls and Procedures

Controls and Procedures 33

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 34 Item 1A.

Risk Factors

Risk Factors 34 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34

Other Information

Item 5. Other Information 35 Item 6. Exhibits 36

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. CSW INDUSTRIALS, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) Three Months Ended December 31, Nine Months Ended December 31, 2023 (Amounts in thousands, except per share amounts) 2023 2022 2023 2022 Revenues, net $ 174,967 $ 171,093 $ 581,980 $ 562,219 Cost of revenues ( 100,986 ) ( 105,295 ) ( 324,873 ) ( 329,349 ) Gross profit 73,981 65,798 257,107 232,870 Selling, general and administrative expenses ( 46,400 ) ( 42,686 ) ( 142,327 ) ( 133,568 ) Operating income 27,581 23,112 114,780 99,302 Interest expense, net ( 2,765 ) ( 4,200 ) ( 10,080 ) ( 9,090 ) Other expense, net ( 8,428 ) ( 737 ) ( 6,188 ) ( 529 ) Income before income taxes 16,388 18,175 98,512 89,683 Provision for income taxes ( 7,083 ) ( 2,676 ) ( 27,968 ) ( 20,232 ) Net income 9,305 15,499 70,544 69,451 Less: (Income) Loss attributable to redeemable noncontrolling interest ( 83 ) 100 ( 655 ) ( 79 ) Net income attributable to CSW Industrials, Inc. $ 9,222 $ 15,599 $ 69,889 $ 69,372 Net income per share attributable to CSW Industrials, Inc. Basic $ 0.59 $ 1.01 $ 4.50 $ 4.47 Diluted $ 0.59 $ 1.01 $ 4.49 $ 4.46 Weighted average number of shares outstanding: Basic 15,546 15,476 15,537 15,520 Diluted 15,596 15,512 15,578 15,554 See accompanying notes to condensed consolidated financial statements. 1 CSW INDUSTRIALS, INC. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) Three Months Ended December 31, Nine Months Ended December 31, (Amounts in thousands) 2023 2022 2023 2022 Net income $ 9,305 $ 15,499 $ 70,544 $ 69,451 Other comprehensive income (loss): Foreign currency translation adjustments 1,231 1,606 ( 609 ) ( 4,076 ) Cash flow hedging activity, net of taxes of $ 414 , $ 10 , $( 107 ) and $( 152 ), respectively ( 1,558 ) ( 39 ) 404 570 Pension and other postretirement effects, net of taxes of $ 0 , $( 35 ), $( 1 ) and $( 39 ), respectively — 133 2 146 Other comprehensive income (loss) ( 327 )

View Full Filing

View this 10-Q filing on SEC EDGAR