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CSW Industrials, Inc. reports operating and capital-allocation developments for a diversified industrial company organized in three segments: Contractor Solutions, Specialized Reliability Solutions, and Engineered Building Solutions. Its products serve HVAC/R, plumbing, electrical, general industrial, architecturally specified building products, energy, mining, and rail transportation markets.
Recurring company updates include quarterly and annual earnings releases, segment performance, acquisitions in product categories such as plumbing and drain-management solutions, revolving credit facility changes, cash dividend actions, and governance disclosures. The company's announcements also cover conference-call scheduling and other public-company communications tied to financial reporting.
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.