| Over a week ago | ||||
CSW Industrials announced… CSW Industrials announced that its Board of Directors has elected Anne Motsenbocker as an independent director. In her new role, Motsenbocker has also been appointed as a member of the Audit Committee and the Compensation and Talent Development Committee of the Company's Board. On June 27, 2022, current Board member Debra von Storch notified the Company of her intent to not stand for re-election at the 2022 annual meeting of shareholders. von Storch's decision to not stand for re-election does not result from any disagreement with the Company on any matter. Following this notification, Swartz was elected Chairman of the Audit Committee, effective June 27, 2022. | ||||
| Over a month ago | ||||
Reports Q4 revenue… Reports Q4 revenue $173.3M vs. $133.4M last year. Joseph Armes, CSW Industrials' Chairman, President, and CEO, commented, "Once again, in fiscal 2022, our commitment to treat our employees well, serve our customers well, and manage our supply chains effectively drove record results in growth and profitability. Our diversified business model, disciplined capital allocation, and commitment to operational excellence drove impressive operating leverage, despite unprecedented global disruption and turmoil. During a very challenging two-year period, the CSWI team demonstrated unparalleled professionalism and determination resulting in record revenues, EBITDA, and EPS. I could not be more proud of the way our team has courageously risen to the challenge and, by doing so, revealed the exceptional character of people that make up our organization. The investments that we have made in organic growth initiatives, acquisitions, and inventory continue to deliver attractive returns, and we are confident that CSWI is positioned well to deliver sustainable long-term growth and profitability in fiscal 2023 and beyond." | ||||
Meeting to be held on… Meeting to be held on April 19 in Denver, CO hosted by Barrington. | ||||
The Board of Directors of… The Board of Directors of CSW Industrials declared a regular quarterly cash dividend of 17c per share. This represents an increase of 2c per share, or approximately 13%, as compared to the declared dividend in the prior quarter. The dividend is payable on May 13, 2022, to shareholders of record as of the close of business on April 29, 2022. "We are pleased to announce another increase in our quarterly dividend and to provide an update on our share repurchase program, which together demonstrate our ongoing commitment to disciplined capital allocation. Over the past four years, we have returned $121.1 million in cash to our shareholders, while also growing organically and through acquisitions," said Joseph Armes, CSW Industrials Chairman, President, and Chief Executive Officer. | ||||
Meeting to be held on… Meeting to be held on April 19 in Denver, CO hosted by Barrington. | ||||
| Over a quarter ago | ||||
Sidoti initiated coverage… Sidoti initiated coverage of CSW Industrials with a Buy rating and $149 price target. | ||||
Meeting to be held on… Meeting to be held on March 8 hosted by Barrington. | ||||
Meeting to be held on… Meeting to be held on March 8 hosted by Barrington. | ||||
CSWI is maintaining the… CSWI is maintaining the previously provided aggregate guidance for the second half of the fiscal year, of $1.50 to $1.65 of EPS and $50.0 million to $53.5 million of EBITDA. | ||||
Reports Q3 revenue… Reports Q3 revenue $136.3M, one est. $135.9M. Joseph Armes, CSW Industrials' Chairman, President, and CEO, commented, "In our fiscal third quarter, we saw the benefit of our diversified business model in our strong results, as all three segments contributed to our growth. We achieved significant year-over-year revenue and adjusted EBITDA growth. On December 15, we celebrated the one-year anniversary of the TRUaire acquisition, and simultaneously closed on the Shoemaker acquisition. I'm also very pleased to report that our TRUaire manufacturing facility in Vietnam returned to full production in the fiscal third quarter as in-country COVID restrictions eased. In response to current inflationary pressures in the global supply chain, primarily in material and freight costs, we implemented additional price increases for specific products and end markets served. We remain committed to appropriate price actions that continue to maintain profitability." | ||||
