CSW Industrials (CSWI) Tops Q2 EPS by 12c, Revenues Beat

CSW Industrials (NASDAQ: CSWI) reported Q2 EPS of $0.79, $0.12 better than the analyst estimate of $0.67. Revenue for the quarter came in at $91.6 million versus the consensus estimate of $87.39 million.

Joseph B. Armes, CSW Industrials’ Chief Executive Officer, commented, “We are pleased to report very strong fiscal second quarter results, highlighted by 8.5% organic growth and a 32% year-over-year increase in adjusted earnings per share. Halfway through our fiscal year we are right on track with our full-year plan, as in the second fiscal quarter, we saw volume recover in our HVAC business during the peak summer months that helped offset the effect of a cooler spring we saw in the first quarter. We believe we are well positioned for the second half of the year, which is supported by continued underlying strength in our Industrial Products segment and expected benefits from our efficiency programs coming online in our Specialty Chemicals segment.”

Armes added, “We are also pleased to announce this morning that our Board authorized an additional $75 million in share repurchase capacity, as we completed our previous authorization and in the process returned $35 million to shareholders through share repurchases over the last two years.”

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

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