CSW Industrials, Inc. is a diversified industrial growth company that provides niche, high-performance, and value-added products for various end markets worldwide, primarily serving wholesaler distributors and contractors.

# Summary of CSW Industrials, Inc.

## Business Overview
- **What the Company Does:**  
  CSW Industrials, Inc. is a diversified industrial growth company focused on providing niche, high-performance, and value-added products for various end markets worldwide.

## Products and End Markets
- **Product Categories:**
  - Mechanical products for HVAC/R (Heating, Ventilation, Air Conditioning, and Refrigeration)
  - Plumbing products
  - Grilles, registers, and diffusers (GRD)
  - Building safety solutions
  - High-performance specialty lubricants and sealants

- **End Markets Served:**
  - HVAC/R
  - Architecturally-specified building products
  - Plumbing
  - General industrial
  - Energy
  - Rail transportation
  - Mining
  - Electrical

## Operations
- **Manufacturing Locations:** U.S., Vietnam, and Canada  
- **Distribution Operations:** U.S., Australia, Canada, U.K.  
- **Geographic Reach:** Over 100 countries, mainly in U.S., Canada, U.K., and Australia

## Customers
- **Customer Base:**  
  - Primarily wholesaler distributors and contractors, including some OEMs
  - No single customer accounts for 10% or more of revenue
  - Approximate number of employees: **2,600** globally

## Revenue and Income
- **Fiscal Year Ended:** March 31, 2025
- **Net Revenue:**  
  - **$878.3 million** (up 10.8% from $792.8 million in 2024)
  - Growth driven by acquisitions ($47.5 million contribution) and organic growth
- **Gross Profit:**  
  - **$393.3 million** (44.8% margin)
  - Increased from $350.7 million in 2024
- **Operating Income:**  
  - **$181.2 million** (20.6% operating margin)
  - Increased from $159.1 million in 2024
- **Net Income:**  
  - **$137.5 million** (up from $102.5 million in 2024)
- **Employees:** Approximately **2,600** employees as of March 31, 2025

## Recent Developments
- **Acquisitions:**
  - Aspen Manufacturing (Texas) for approximately $330.4 million, added to Contractor Solutions
  - PF WaterWorks (Texas) for $45.6 million
  - PSP Products (Virginia) for $51.3 million
  - Dust Free (Texas) for $34.2 million
  - Falcon Stainless (California) for $37.1 million
  - Cover Guard and ACG (Florida) for $22.1 million
- **Strategic Initiatives:**  
  - Completed a follow-on equity offering raising approximately $347.4 million
  - Entered into a new credit agreement with an increased commitment of $700 million
  
## Financial Position
- **Cash and Cash Equivalents:**  
  - **$225.8 million** at March 31, 2025
- **Total Assets:**  
  - **$1.38 billion** as of March 31, 2025
- **Total Liabilities:**  
  - **$286.6 million** as of March 31, 2025
- **Shareholders’ Equity:**  
  - **$1.07 billion** as of March 31, 2025
- **Market Cap (as of September 30, 2024):**  
  - Approximately **$6,071.5 million** (based on last sale price)

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*This summary captures the detailed operational scope, product focus, geographic reach, financial metrics, and recent developments based solely on the provided documentation.*

CSW Industrials, Inc. is a diversified industrial growth company providing niche, value-added products across various end markets, primarily through its three segments: Contractor Solutions, Specialized Reliability Solutions, and Engineered Building Solutions.

# CSW Industrials, Inc. Overview

## Company Description
CSW Industrials, Inc. (CSWI) is a diversified industrial growth company focused on providing niche, value-added products across various end markets. The company operates in three primary segments:

1. **Contractor Solutions**
2. **Specialized Reliability Solutions**
3. **Engineered Building Solutions**

**Key Products**:
- Mechanical products for Heating, Ventilation, Air Conditioning, and Refrigeration (HVAC/R)
- Plumbing products
- Grilles, Registers, and Diffusers (GRD)
- Building safety solutions
- High-performance specialty lubricants and sealants

**Target Markets**:
- HVAC/R
- Architecturally-specified building products
- Plumbing
- General industrial
- Energy
- Rail transportation
- Mining

The company primarily manufactures its products in the United States, Vietnam, and Canada, and distributes them in over 100 countries, notably in the U.S., Canada, the U.K., and Australia.

## Operations and Workforce
- **Employees**: Approximately 2,600 individuals globally.
  - 1,300 in North America
  - 1,300 in Asia Pacific
  - 10 in Europe, the Middle East, and Africa
- **Customer Base**: Serves a diverse group of wholesalers and distributors, with no single customer contributing to more than 10% of net revenues.

## Financial Performance
- **Revenue**: For the fiscal year ended March 31, 2024, CSWI reported net revenues of **$792.84 million**, a 4.6% increase from **$757.90 million** in the previous year.
- **Gross Profit**: The gross profit for the same fiscal year was **$350.75 million**, resulting in a gross profit margin of **44.2%**.
- **Operating Income**: The operating income for the year ended March 31, 2024 was **$159.12 million**, reflecting a 14.4% increase from the prior year.
- **Net Income**: The net income attributable to CSW Industrials, Inc. for the year was **$101.65 million**, with diluted earnings per share of **$6.52**.

## Strategic Focus and Growth
CSWI aims to achieve growth through both organic means—including new product development and market penetration—and through strategic acquisitions, having made several acquisitions in recent years to expand its product offerings and market presence.

### Recent Acquisitions
- **Dust Free, LP** (acquired in February 2024)
- **Falcon Stainless, Inc.** (acquired in October 2022)
- **Cover Guard, Inc. and AC Guard, Inc.** (acquired in July 2022)
- **Shoemaker Manufacturing, LLC** (acquired in December 2021)

With a long-term vision of enhancing customer relationships and maintaining operational efficiency, CSWI is positioned for continued growth and success in its sectors.

CSW INDUSTRIALS, INC.

10-K / May 22, 2025

10-K / May 23, 2024

10-K / May 22, 2025

Summary of CSW Industrials, Inc.

Business Overview

Products and End Markets

Operations

Customers

Revenue and Income

Recent Developments

Financial Position