CSW Industrials, Inc. (NASDAQ:CSWI) Q4 2022 Earnings Conference Call May 18, 2022 10:45 AM ET

CompanyParticipants

Joe Armes - Chairman, CEO & President

James Perry - EVP & CFO

Adrianne Griffin - VP, IR & Treasurer

Conference Call Participants

Stefanos Crist - CJS Securities

Chris Howe - Barrington Research

Julio Romero - Sidoti & Company

Operator

Greetings, and welcome to CSW Industrials, Inc. Fiscal Fourth Quarter 2022 Earnings Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. It is ow my pleasure to introduce your host, Adrianne Griffin, Vice President, Investor Relations and Treasurer. Thank you. you may begin.

Adrianne Griffin

Thank you, Doug. Good morning, everyone, and welcome to the CSW Industrials fiscal 2022 fourth quarter earnings call. 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 market’s 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, in 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.

Joe Armes

Thank you, Adrianne. Good morning, and thank you for joining our fiscal fourth quarter conference call. I'm pleased to announce that in fiscal 2022, we continued our successful track record of delivering exceptional performance. Treating our employees well, serving our customers well, and managing our supply chains effectively, drove record results in growth and profitability. Fiscal 2022 represents our second consecutive year of record revenue, EBITDA, and earnings per share. Today, we reported record revenue of $626 million, nearly a 50% growth over the prior year. Of the $207 million in total revenue growth, half resulted from organic growth, with the remaining half coming from our TRUaire and Shoemaker acquisitions. EBITDA reached a record $133 million or 46% growth over the prior fiscal year. Finally, record adjusted EPS was $4.39, compared to $3.36 in the prior fiscal year. These outstanding accomplishments are attributable to our diversified business model, our disciplined capital allocation, and our commitment to operational excellence, which drove impressive operating leverage despite unprecedented global disruption and turmoil.