CSW Industrials (NASDAQ: CSWI) reported Q3 EPS of $0.48, in-line with the analyst estimate of $0.48. Revenue for the quarter came in at $83.7 million versus the consensus estimate of $81.81 million.

Fiscal Third Quarter and Year-to-Date 2020 Highlights

• Fiscal third quarter consolidated revenue from continuing operations of $83.7 million, up 8.0% (3.4% organic) compared to $77.5 million in the prior year period.
• Fiscal third quarter GAAP operating income of $10.5 million, up 11.3% compared to $9.4 million in the prior year period. There were no adjustments to operating income in the current quarter or the prior year period.
• Fiscal third quarter GAAP net income from continuing operations increased to $7.3 million, or $0.48 per diluted share, compared to $6.0 million, or $0.39 per diluted share in the prior year period.
• Year-to-date consolidated revenue from continuing operations increased 11.1% (6.6% organic) to $287.4 million, compared to $258.7 million in the prior year period.
• Year-to-date cash provided from continuing operations was $60.4 million compared to $58.3 million in the prior year period.
• Following quarter end, CSWI declared its fourth consecutive quarterly regular cash dividend of $0.135 per share, payable on February 14, 2020, to shareholders of record as of the close of business on January 31, 2020.

Joseph B. Armes, CSW Industrials’ Chairman, Chief Executive Officer, and President commented, “The momentum we have demonstrated all year continued into the fiscal third quarter, underscored by another solid quarter of growth in both the top and bottom line. This resulted in 11.1% total revenue growth and 17.9% adjusted operating income growth year to date, despite a challenging year-over-year comparison, particularly in the fiscal third quarter of 2019. Our quarterly and year-to-date results represent significant outperformance relative to GDP in these periods. These impressive results were driven by contributions from both segments, strong performance from our recent acquisitions, our team’s focus on innovative product introductions, investments in key personnel across our sales and marketing teams, and success in leveraging our channels to market.”

Armes continued, “Our focus remains on generating sustainable and profitable growth for our shareholders, while maintaining a strong balance sheet that supports our capital allocation strategy. We are succeeding on these metrics, and our strong operating cash flow provides ample resources to invest in innovative organic growth initiatives, enhance our industry leading brands, pursue accretive M&A, and deliver on our commitments to return cash to shareholders.”

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