CSW Industrials, Inc. (NASDAQ:CSWI) Q1 2023 Earnings Conference Call August 5, 2022 10:00 AM ET

Company Participants

Adrianne Griffin - Vice President, Investor Relations & Treasurer

Joseph Armes - Chairman, Chief Executive Officer & President

James Perry - Executive Vice President and Chief Financial Officer

Conference Call Participants

Jon Tanwanteng - CJS Securities

Julio Romero - Sidoti

Operator

Greetings, and welcome to the CSW Industrials Fiscal First Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host Adrianne Griffin, Vice President of Investor Relations and Treasurer. Thank you. Miss. Griffin, you may begin.

Adrianne Griffin

Thank you, Devin, and good morning, everyone. Joining me today are Joseph Armes, Chairman, Chief Executive Officer and President of CSW Industrials; and James Perry, Executive Vice President and Chief Financial Officer.

We issued our earnings release, presentation and Form 10-Q prior to the markets opening today, which are available on the Investor portion of our website at www.cswindustrials.com. This call is being webcast and information on accessing the replay is included in the earnings release.

During this call, we will make forward-looking statements. These statements are based on current expectations and assumptions that are subject to various risks and uncertainties. Actual results could materially differ, because of factors discussed today in our earnings release and the comments made during this call, as well as the risk factors identified in our annual report on Form 10-K, and other filings with the SEC. We do not undertake any duty to update any forward-looking statements.

I will now turn the call over to Joe Armes.

Joseph Armes

Thank you, Adrianne. Good morning, and thank you for joining our fiscal first quarter conference call. In our fiscal first quarter, our team performed remarkably, delivering record revenue, record EBITDA, and record EPS.

Today, we are proud to report, record revenue of $200 million, or 24% growth over the prior year period. Of the $39 million in total revenue growth, 78% was organic, with the remainder coming from the Shoemaker acquisition that we closed in December 2021. EBITDA reached a quarterly record of $50 million five zero, a 21% growth compared to the prior year period.

Finally, record EPS was $1.88, a 26% growth rate over $1.49, as adjusted in the prior year period. We are particularly pleased with these comparative results in light of the extraordinary performance in the fiscal first quarter of last year. As you will recall, in last year's fiscal first quarter, we delivered growth in excess of 75% of revenue, and over 100% in EBITDA. While demand remains solid in the end markets we serve, I cannot overstate the importance of operational excellence in driving this performance.