CSW Industrials (NASDAQ: CSWI) reported Q2 EPS of $0.92, $0.06 better than the analyst estimate of $0.86. Revenue for the quarter came in at $101.3 million versus the consensus estimate of $96.02 million.

Fiscal Second Quarter 2020 Highlights

• Second quarter 2020 revenue from continuing operations of $101.3 million, up 10.6% (6.3% organic) compared to $91.6 million in the prior year period.
• Second quarter 2020 GAAP operating income of $20.1 million, up 17.0% compared to $17.2 million in the prior year period.
• Second quarter 2020 adjusted operating income of $19.3 million, up 12.5% compared to $17.2 million in the prior year period.
• Second quarter 2020 GAAP net income from continuing operations of $8.8 million, or $0.58 per diluted share compared to $12.4 million, or $0.79 per diluted share in the prior year period, decreased primarily due to a one-time charge to terminate the Company’s U.S. qualified pension plan of $5.4 million after-tax, or $0.35 per diluted share.
• Second quarter 2020 adjusted net income from continuing operations increased to $14.0 million or $0.92 per diluted share, compared to $12.4 million or $0.79 per diluted share.
• Following quarter end, CSWI declared its third consecutive quarterly regular cash dividend of $0.135 per share, payable on November 14, 2019, to shareholders of record as of the close of business on October 31, 2019.

Joseph B. Armes, CSW Industrials’ Chairman and Chief Executive Officer, commented, “Our momentum continued in the fiscal second quarter as our team executed well across our businesses. Our impressive 6.3% organic growth was driven by contributions from both segments, despite a mixed macroeconomic backdrop.”

Armes continued, “As we look to the balance of the year, we are encouraged by the continued strength in our largest end markets and our ability to execute despite macro uncertainties. Our team continues to drive our strategic growth initiatives and new product introductions. We expect this combination of factors to enable us to continue to deliver a total growth rate in excess of the end markets we serve.”

For earnings history and earnings-related data on CSW Industrials (CSWI) click here.