CSW Industrials, Inc. (NASDAQ: CSWI) today reported record results for the fiscal 2023 fourth quarter and full year periods ended March 31, 2023.
Total fourth-quarter revenue increased 12.9% to $195.7 million, with an organic growth rate of 10.5%. Net income attributable to CSWI increased 46.7% to $27.1 million, compared to $18.4 million, with no adjustments to earnings in either period. Earnings per diluted share (EPS) increased 48.7% to $1.74, compared to $1.17
For the full year, total revenue increased 21.0% to $757.9 million, with an organic growth rate of 15.3%
Net income attributable to CSWI increased 39.1% to $96.4 million, compared to $69.3 million, adjusted to exclude the final TRUaire purchase accounting effect from the GAAP amount of $66.4 million
EPS of $6.20 increased 41.2%, compared to $4.39, adjusted to exclude the final TRUaire purchase accounting effect from the GAAP EPS of $4.20.
CEO Joseph Ames remarked, "I am very pleased with our financial results in fiscal 2023. We had a record year, driven by both strong organic growth and our accretive acquisitions. This growth has driven an improvement in profitability as we continue to leverage our revenue growth, resulting in higher margins and higher free cash flow."
CSW Industrials is a diversified industrial growth company with industry-leading operations in three segments: Contractor Solutions, Engineered Building Solutions, and Specialized Reliability Solutions. CSWI provides niche, value-added products with two essential commonalities: performance and reliability.
CSW shares popped $4.75, or 3.6%, to $138.26.
