CSW Industrials (CSWI) Reports In-Line Q1 EPS, Revenues Miss

CSW Industrials (NASDAQ: CSWI) reported Q1 EPS of $0.76, in-line with the analyst estimate of $0.76. Revenue for the quarter came in at $89.6 million versus the consensus estimate of $93.88 million.

Highlights

• First quarter 2019 revenue from continuing operations of $89.6 million, compared to $89.3 million in the prior year period.
• First quarter 2019 GAAP operating income of $17.7 million; Non-GAAP operating income of $15.9 million.
• First quarter 2019 GAAP net earnings from continuing operations of $14.0 million, or $0.88 per diluted share; Non-GAAP net earnings from continuing operations of $12.0 million, or $0.76 per diluted share.
• Returned $7.3 million to shareholders through share repurchases of 146 thousand shares.
• The Company completed a sale of assets related to its Coatings business on July 31, 2018.

Joseph B. Armes, CSW Industrials’ Chief Executive Officer, commented, “Our team executed well and we reported adjusted earnings growth despite several challenges impacting our business. These factors included a cooler than normal spring that tempered HVAC demand, increased product costs, upfront expenses in efficiency programs which we expect to benefit our second half, and adoption of new revenue recognition standards, all of which moderated our reported results.”

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

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