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CSW Industrials Inc. (CSWI-2.31%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing an increase in net revenues to $193,649,000 from $174,967,000 in the same quarter the previous year. The increase is attributed to acquisitions and organic growth.
Gross profit for the quarter was $80,106,000, compared to $73,981,000 in the previous year, with a gross profit margin of 41.4%, slightly down from 42.3% due to increased freight expenses.
Operating income for the quarter was $29,595,000, up from $27,581,000 in the previous year. The operating margin decreased slightly to 15.3% from 15.8% due to higher operating expenses.
Net income for the quarter was $26,948,000, up from $9,222,000 in the previous year. The increase was due to higher revenues and lower interest expenses.
Cash provided by operating activities was $141,069,000, while cash used in investing activities was $98,573,000, primarily due to acquisitions. Cash provided by financing activities was $149,918,000, driven by proceeds from an equity offering.
CSW Industrials completed acquisitions of PF WaterWorks, PSP Products, and Dust Free during the period, contributing to the increase in revenues.
The company reported a strong balance sheet with total assets of $1,350,195,000 and total liabilities of $285,978,000 as of December 31, 2024.
The filing also details the company's segment performance, with Contractor Solutions, Specialized Reliability Solutions, and Engineered Building Solutions all showing revenue growth.
CSW Industrials does not anticipate any material impact from recent accounting pronouncements and continues to evaluate acquisition opportunities.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the CSW Industrials Inc. quarterly 10-Q report dated January 30, 2025. To report an error, please email earnings@qz.com.