CSW Industrials Q1 FY25 10-Q Filed

TL;DR

CSW Industrials Q1 FY25 10-Q is in. Check financials for latest performance.

AI Summary

CSW Industrials, Inc. filed its 10-Q for the period ending June 30, 2024. The filing covers the first quarter of their fiscal year 2025. Key financial data and operational details for this period are presented, with comparisons to the prior year's first quarter. The company is based in Dallas, Texas and operates in the Adhesives & Sealants sector.

Why It Matters

This filing provides investors with the latest financial performance and operational updates for CSW Industrials, Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information that could reveal positive or negative trends impacting the company's stock.

Key Numbers

• 20240630 — End of Reporting Period (Fiscal quarter ending date)
• 20240731 — Filing Date (Date the report was submitted to the SEC)

Key Players & Entities

• CSW INDUSTRIALS, INC. (company) — Filer
• 20240630 (date) — Period of Report
• 20240731 (date) — Filing Date
• DALLAS (location) — Company Headquarters
• ADHESIVES & SEALANTS [2891] (industry) — Standard Industrial Classification

FAQ

Key Financial Figures

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

Filing Documents

• cswi-20240630.htm (10-Q) — 898KB
• q12025ex311.htm (EX-31.1) — 9KB
• q12025ex312.htm (EX-31.2) — 9KB
• q12025ex321.htm (EX-32.1) — 4KB
• q12025ex322.htm (EX-32.2) — 4KB
• 0001624794-24-000058.txt ( ) — 6460KB
• cswi-20240630.xsd (EX-101.SCH) — 44KB
• cswi-20240630_cal.xml (EX-101.CAL) — 77KB
• cswi-20240630_def.xml (EX-101.DEF) — 213KB
• cswi-20240630_lab.xml (EX-101.LAB) — 615KB
• cswi-20240630_pre.xml (EX-101.PRE) — 443KB
• cswi-20240630_htm.xml (XML) — 839KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 1 Consolidated Statements of Income and Consolidated Statements of Comprehensive Income for the three months ended June 30, 2024 and 2023 (unaudited) 1 Consolidated Balance Sheets as of June 30 , 202 4 and March 31, 202 4 (unaudited) 3 Consolidated Statements of Equity as of June 30 , 202 4 and 202 3 (unaudited) 4 Consolidated Statements of Cash Flows for the three months ended J une 30 , 202 4 and 202 3 (unaudited) 5 Notes to the Consolidated Financial Statements (unaudited) 6 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 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 26 Item 4.

Controls and Procedures

Controls and Procedures 27

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 28 Item 1A.

Risk Factors

Risk Factors 28 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28

Other Information

Item 5. Other Information 29 Item 6. Exhibits 30

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. CSW INDUSTRIALS, INC. CONSOLIDATED STATEMENTS OF INCOME (Unaudited) Three Months Ended June 30, (Amounts in thousands, except per share amounts) 2024 2023 Revenues, net $ 226,177 $ 203,360 Cost of revenues ( 118,756 ) ( 111,193 ) Gross profit 107,421 92,167 Selling, general and administrative expenses ( 52,361 ) ( 46,961 ) Operating income 55,060 45,206 Interest expense, net ( 2,520 ) ( 4,009 ) Other income, net 260 314 Income before income taxes 52,800 41,511 Provision for income taxes ( 13,950 ) ( 10,455 ) Net income 38,850 31,056 Less: Income attributable to redeemable noncontrolling interest ( 259 ) ( 445 ) Net income attributable to CSW Industrials, Inc. $ 38,591 $ 30,611 Net income per share attributable to CSW Industrials, Inc. Basic $ 2.48 $ 1.97 Diluted $ 2.47 $ 1.97 Weighted average number of shares outstanding: Basic 15,534 15,520 Diluted 15,596 15,547 See accompanying notes to consolidated financial statements. 1 CSW INDUSTRIALS, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) Three Months Ended June 30, (Amounts in thousands) 2024 2023 Net income $ 38,850 $ 31,056 Other comprehensive income (loss): Foreign currency translation adjustments ( 887 ) 514 Cash flow hedging activity, net of taxes of $( 16 ) and $( 394 ), respectively 62 1,481 Pension and other postretirement effects, net of taxes of $ 0 and $ 0 , respectively — 1 Other comprehensive income (loss) ( 825 ) 1,996 Comprehensive income $ 38,025 $ 33,052 Less: Comprehensive income attributable to redeemable noncontrolling interest ( 259 ) ( 445 ) Comprehensive income attributable to CSW Industrials, Inc. $ 37,766 $ 32,607 See accompanying notes to consolidated financial statements. 2 CSW INDUSTRIALS, INC. CONSOLIDATED BALANCE SHEETS (Unaudited) (Amounts in thousands, except for per share amounts) June 30, 2024 March 31, 2024 ASSETS Current assets: Cash and cash equivalents $ 18,852 $ 22,156

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) 1. ORGANIZATION AND OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES CSW Industrials, Inc. ("CSWI," "we," "our" or "us") is a diversified industrial growth company with a strategic focus on providing niche, value-added products in the end markets we serve. We operate in three business segments: Contractor Solutions, Specialized Reliability Solutions and Engineered Building Solutions. Our products include mechanical products for heating, ventilation, air conditioning and refrigeration ("HVAC/R"), plumbing products, grilles, registers and diffusers ("GRD"), building safety solutions and high-performance specialty lubricants and sealants. End markets that we serve include HVAC/R, architecturally-specified building products, plumbing, general industrial, energy, rail transportation and mining. Our manufacturing operations are concentrated in the United States ("U.S."), Vietnam and Canada, and we have distribution operations in the U.S., Australia, Canada and the United Kingdom ("U.K."). Our products are sold directly to end users or through designated channels in over 100 countries around the world, primarily including the U.S., Canada, the U.K. and Australia. Drawing on our innovative and proven technologies, we seek to deliver solutions primarily to contractors that place a premium on superior performance and reliability. We believe our brands are well-known in the specific end markets we serve and have a reputation for high quality. We rely on both organic growth and inorganic growth through acquisitions to provide an increasingly broad portfolio of performance optimizing solutions that meet our customers' ever-changing needs. We have a successful record of making attractive, synergistic acquisitions in support of this objective, and we remain focused on identifying additional acquisition opportunities in our core end markets. Many of our products are used to protect the capital assets of our customers that

View Full Filing

View this 10-Q filing on SEC EDGAR