Csw Industrials Inc Stock Price, News & Analysis

CSW Industrials (CSWI) announced a new joint venture, Shell & Whitmore Reliability Solutions, with Shell's subsidiary, focusing on the rail and mining sectors in North America. This 50:50 JV leverages both companies' technologies to create a comprehensive product portfolio, including lubricants and reliability solutions. Operations will start immediately from Rockwall, Texas, enhancing capacity and distribution. The collaboration aims to provide tailored solutions and improve operational efficiency for customers, presenting significant growth potential.

CSW Industrials reported fiscal Q3 2021 revenue of $89.9 million, a 7.4% increase from the previous year, driven by a 20.8% growth in HVAC/R markets. EPS was $0.16, or $0.59 adjusted. Year-to-date revenue slightly declined to $285.8 million, with a year-to-date EPS adjusted of $2.49. The acquisition of TRUaire added $4.5 million to HVAC/R sales. Operating expenses rose to 39.2% of revenue due to acquisition-related costs. Despite growth in some areas, net income fell to $2.3 million, influenced by increased expenses and transaction costs.

CSW Industrials (CSWI) will release its fiscal third quarter earnings results for the period ending December 31, 2020, on February 5, 2021, prior to market opening. A conference call will follow at 10:00 a.m. ET to discuss these results. Participants can join via phone or live webcast. The company is known for its diversified industrial growth across two segments: Industrial Products and Specialty Chemicals, providing performance-optimizing solutions in various markets including HVAC/R, plumbing, and energy.

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.