$CSW

CSW INDUSTRIALS, INC.

CIK:0001624794|SEC Filings

CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues, net	$ 350,650	$ 263,646
Cost of revenues	(193,289)	(148,204)
Gross profit	157,361	115,442
Selling, general and administrative expenses	(77,507)	(60,566)
Operating income	79,854	54,876
Interest expense, net	(12,731)	(1,022)
Other income (loss), net	(220)	528
Income before income taxes	66,903	54,382
Provision for income taxes	(17,123)	(13,211)
Net income	49,780	41,171
Less: Income attributable to redeemable noncontrolling interest	(21)	(246)
Net income attributable to CSW	$ 49,759	$ 40,925
Net income per share attributable to CSW
Basic (in USD per share)	$ 3.05	$ 2.43
Diluted (in USD per share)	$ 3.04	$ 2.43
Weighted average number of shares outstanding:
Basic (in shares)	16,330	16,808
Diluted (in shares)	16,365	16,863

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 49,780	$ 41,171
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	4,626	3,929
Amortization of acquisition-related intangible assets & inventory step-up	15,633	9,411
Amortization of deferred financing fees	307	322
Provision for inventory reserves	1,751	242
Provision for credit losses	188	72
Share-based compensation	4,091	4,037
Net loss on disposals of property, plant and equipment	357	0
Net pension benefit	20	17
Net deferred taxes	852	790
Changes in operating assets and liabilities:
Accounts receivable	(24,625)	(7,788)
Inventories	2,170	7,641
Prepaid expenses and other current assets	7,462	656
Other assets	8	43
Accounts payable and other current liabilities	12,521	6
Retirement benefits payable and other liabilities	479	92
Net cash provided by operating activities	75,620	60,641
Cash flows from investing activities:
Capital expenditures	(6,004)	(2,904)
Proceeds from sale of assets	12	0
Cash paid for acquisitions, net of cash received	0	(323,814)
Net cash used in investing activities	(5,992)	(326,718)
Cash flows from financing activities:
Borrowings on line of credit	59,859	135,000
Repayments of line of credit	(66,337)	(40,000)
Repayments on Term Loan A	(7,500)	0
Payments of deferred loan costs	0	(2,835)
Purchase of treasury shares	(36,341)	(9,091)
Payments of contingent consideration	(113)	(113)
Dividends	(4,909)	(4,537)
Net cash (used in) provided by financing activities	(55,341)	78,424
Effect of exchange rate changes on cash and equivalents	(591)	(202)
Net change in cash and cash equivalents	13,696	(187,855)
Cash and cash equivalents, beginning of period	33,799	225,845
Cash and cash equivalents, end of period	47,495	37,990
Non-cash investing and financing activities:
Capital expenditures included in accounts payable and other current liabilities	$ 528	$ 436

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Mar. 31, 2026
Current assets:
Cash and cash equivalents	$ 47,495	$ 33,799
Accounts receivable, net of allowance for expected credit losses of $2,426 and $2,314, respectively	233,311	210,264
Inventories, net	305,202	309,707
Prepaid expenses and other current assets	20,005	26,555
Assets held for sale	9,948	8,742
Total current assets	615,961	589,067
Property, plant and equipment, net of accumulated depreciation of $130,163 and $125,552, respectively	107,332	107,536
Goodwill	640,273	632,631
Intangible assets, net	884,841	900,051
Other assets	85,212	87,399
Total assets	2,333,619	2,316,684
Current liabilities:
Accounts payable	82,834	76,930
Accrued and other current liabilities	112,003	116,055
Current portion of long-term debt	29,458	29,458
Liabilities held for sale	3,831	4,478
Total current liabilities	228,126	226,921
Long-term debt	825,993	839,836
Retirement benefits payable	1,029	1,040
Other long-term liabilities	185,849	179,489
Total liabilities	1,240,997	1,247,286
Commitments and contingencies (See Note 14)
Redeemable noncontrolling interest	19,010	18,989
Equity:
Common shares, $0.01 par value Shares authorized – 50,000 Shares issued – 17,946 and 17,893, respectively	179	178
Preferred shares, $0.01 par value Shares authorized (10,000) and issued (0)	0	0
Additional paid-in capital	528,168	520,076
Treasury shares, at cost (1,645 and 1,544 shares, respectively)	(288,927)	(257,704)
Retained earnings	843,785	798,956
Accumulated other comprehensive loss	(9,593)	(11,097)
Total equity	1,073,612	1,050,409
Total liabilities, redeemable noncontrolling interest and equity	$ 2,333,619	$ 2,316,684