Thu, May 23, 10:31 AM (151 days ago)
CSW Industrials, Inc. (CSWI), a diversified industrial growth company, reported its financial performance for the fiscal year ended March 31, 2024. Key highlights include: - **Revenue**: Net revenues increased by 4.6% to $792.8 million, driven by organic growth (3.1%) and acquisitions (1.5%). The HVAC/R market remains the largest contributor, representing 54% of net revenues. - **Net Income**: Operating income rose by 14.4% to $159.1 million, with an operating margin of 20.1%, up from 18.3% the previous year. - **Operating Expenses**: Increased by 7.0% to $191.6 million, primarily due to higher employee compensation, trademark impairment, and acquisition-related expenses. - **Earnings Per Share**: Not explicitly stated, but implied improvement given the increase in net income. - **Acquisitions**: Acquired Dust Free, LP for $34.7 million to enhance the Contractor Solutions segment. - **Future Outlook**: Optimistic about revenue and profit growth across all segments, focusing on innovative product offerings and strategic acquisitions. - **Risk Factors**: Includes economic conditions, competitive pressures, supply chain disruptions, and regulatory changes. - **Financial Condition**: Strong balance sheet with $22.2 million in cash and reduced borrowing under the Revolving Credit Facility due to strong cash flows. Overall, CSWI demonstrates robust financial health and strategic growth through acquisitions and product innovation.