CSW Industrials Files Q3 2024 10-Q

TL;DR

CSWI 10-Q filed for Q3 2024, check financials.

AI Summary

CSW Industrials, Inc. filed its 10-Q for the period ending December 31, 2024. The filing covers the third quarter of their fiscal year. Key financial data and business operations for the period are detailed, with the company's fiscal year ending on March 31st.

Why It Matters

This filing provides investors with an update on CSW Industrials' financial performance and operational status for the third quarter of fiscal year 2024, crucial for investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial information.

Key Numbers

• 2024-12-31 — Period End Date (Reporting period for the 10-Q)
• 2025-01-30 — Filing Date (Date the report was submitted to the SEC)

Key Players & Entities

• CSW INDUSTRIALS, INC. (company) — Filer
• 20241231 (date) — Period of Report
• 20250130 (date) — Filed as of Date
• DALLAS (location) — Business Address City

FAQ

Key Financial Figures

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

Filing Documents

• cswi-20241231.htm (10-Q) — 1288KB
• ex101cswi2024equityplan-re.htm (EX-10.1) — 20KB
• ex102cswi2024equityplan-rs.htm (EX-10.2) — 21KB
• ex103cswi2024equityplan-pe.htm (EX-10.3) — 31KB
• ex104cswi2024equityplan-re.htm (EX-10.4) — 20KB
• q3fy25exhibit311.htm (EX-31.1) — 9KB
• q3fy25exhibit312.htm (EX-31.2) — 9KB
• q3fy25exhibit321.htm (EX-32.1) — 4KB
• q3fy25exhibit322.htm (EX-32.2) — 4KB
• 0001624794-25-000012.txt ( ) — 7857KB
• cswi-20241231.xsd (EX-101.SCH) — 48KB
• cswi-20241231_cal.xml (EX-101.CAL) — 78KB
• cswi-20241231_def.xml (EX-101.DEF) — 224KB
• cswi-20241231_lab.xml (EX-101.LAB) — 645KB
• cswi-20241231_pre.xml (EX-101.PRE) — 458KB
• cswi-20241231_htm.xml (XML) — 1214KB

- 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 and nine months ended December 31 , 2024 and 2023 (unaudited) 1 Consolidated Balance Sheets as of December 31 , 2024 and March 31, 2024 (unaudited) 3 Consolidated Statements of Equity as of December 31 , 2024 and 2023 (unaudited) 4 Consolidated Statements of Cash Flows for the ni ne months ended December 31 , 2024 and 2023 (unaudited) 6 Notes to the 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 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 33 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 Item 5. Other Information 35 Item 6. Exhibits 36

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. CSW INDUSTRIALS, INC. CONSOLIDATED STATEMENTS OF INCOME (Unaudited) Three Months Ended December 31, Nine Months Ended December 31, (Amounts in thousands, except per share amounts) 2024 2023 2024 2023 Revenues, net $ 193,649 $ 174,967 $ 647,752 $ 581,980 Cost of revenues ( 113,543 ) ( 100,986 ) ( 356,324 ) ( 324,873 ) Gross profit 80,106 73,981 291,428 257,107 Selling, general and administrative expenses ( 50,511 ) ( 46,400 ) ( 155,224 ) ( 142,327 ) Operating income 29,595 27,581 136,204 114,780 Interest income (expense), net 1,976 ( 2,765 ) ( 1,884 ) ( 10,080 ) Other expense, net ( 298 ) ( 8,428 ) ( 716 ) ( 6,188 ) Income before income taxes 31,273 16,388 133,604 98,512 Provision for income taxes ( 4,315 ) ( 7,083 ) ( 31,175 ) ( 27,968 ) Net income 26,958 9,305 102,429 70,544 Less: Income attributable to redeemable noncontrolling interest ( 10 ) ( 83 ) ( 839 ) ( 655 ) Net income attributable to CSW Industrials, Inc. $ 26,948 $ 9,222 $ 101,590 $ 69,889 Net income per share attributable to CSW Industrials, Inc. Basic $ 1.60 $ 0.59 $ 6.32 $ 4.50 Diluted $ 1.60 $ 0.59 $ 6.30 $ 4.49 Weighted average number of shares outstanding: Basic 16,792 15,546 16,066 15,537 Diluted 16,872 15,596 16,136 15,578 See accompanying notes to consolidated financial statements. 1 CSW INDUSTRIALS, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) Three Months Ended December 31, Nine Months Ended December 31, (Amounts in thousands) 2024 2023 2024 2023 Net income $ 26,958 $ 9,305 $ 102,429 $ 70,544 Other comprehensive income (loss): Foreign currency translation adjustments ( 3,674 ) 1,231 ( 2,493 ) ( 609 ) Cash flow hedging activity, net of taxes of $ 0 , $ 414 , $ 295 and $( 107 ), respectively — ( 1,558 ) ( 1,111 ) 404 Pension and other postretirement effects, net of taxes of $ 0 , $ 0 , $ 0 and $( 1 ), respectively — — 1 2 Other comprehensive loss ( 3,674 ) ( 327 ) ( 3,603 ) ( 203 ) Comprehensive inc

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) 1. ORGANIZATION AND OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES CSW Industrials, Inc. (the "Company," "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, electrical, 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 a

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View this 10-Q filing on SEC EDGAR