CSWI - Earnings call transcript Q4 2024

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Operator

Greetings and welcome to CSW Industrials Fiscal Fourth Quarter 2024 and Full Year Conference Call. [Operator Instructions] As a reminder, this conference call is being recorded.I would now like to turn the conference over to your host, Alexa Huerta. Thank you.

You may begin.

Alexa Huerta

Thank you, [ Rob ]. welcome Full CSW Year and Fourth Fiscal everyone, and Quarter Earnings morning to Industrials the XXXX Good Call.

information subject Executive Industrials; Joining Chairman, me our Form materially statements. James our earnings CSW today, on presentation Actual investor We earnings and website during XX-K These call, statements because included Chief based Armes, in differ as release current Form and identified earnings available well Perry, and made and portion Executive duty forward-looking on Officer report opening the being release, is are Financial this webcast the all today are and today other is to President are will undertake issued is various accessing Officer. which as any not results We to in to risk and now with Vice any and www.cswindustrials.com. uncertainties. President on replay in Joseph in could at update release.During on call of expectations forward-looking prior we factors of This this that XX-K of the discussed the risks relations call comments our the Chief market's Joe. over the do statements.I updated SEC. of will Investors to the assumptions factors the our turn call, annual filings and make

Joseph Armes

healthy diluted morning, both Earlier the everyone. reported quarter Once We the our of the serve. morning, the year. it's markets EBITDA quarter Good that and outperformed in we team revenue, prior this surpassing fiscal report share. per year, and record Alexa. you, earnings record and you results fourth achieved fourth the full pleasure executed performance Thank again, my to has to we

and of of earnings in meaningful by per share record of delivered in and year, year consecutive XX.X% diluted results also adjusted XX.X% quarter. XXX EBITDA also X.X% now generated million, therefore, $X.XX, We million, expanded $XXX EBITDA a full has or record EBITDA $XXX full X the points. of adjusted margin basis robust revenue or an expansion fourth margin CSWI adjusted fiscal the growth, representing our quarters growth and results, delivered growth.For

flow ocean continued deliver quarter building year of despite more the year. leverage the has fourth achieved operations to profit We due of for gross strong the where from cash first and to domestic flow freight best-in-class margins. increased in initiatives a quarters quarter summer primarily from with the typically this $XX a season, in few being of start inventory are reduced cash our further we margin fiscal than expanded meaningful million.Our and expanded the and operating volumes, pricing has CSWI operations

markets capital and returns outpace attractive year and that expected adjusted or In million, our to repurchases.We of with and strategy strategy, To in growth our allocation opportunities operations healthy share fund continue the the flow we investments acquisitions XX% line our inorganic returns have of will the future shareholders cash on full during capital both XXXX. $XXX with relied growth support that to investments organic record seek our fiscal from for margins. year, we allocation We invested returned cash expenditures, growth and in on prioritizing risk company this capital their capital through invested dividends serve. based of

during am the $XX pursue excess I top in cash during on exactly robust full last overall with markets and provide million down each strength dividend.During paid to and I we that Having business and market. of year, fiscal XXXX, delivered segment during to allow of its we would details to earnings before in proud businesses recent pricing thank was said the fiscal year. execution our most call to James, of year-end grow in when year the the this enduring to growth not impressive we for that line cash the teams, segments team let decreased quarter.But confidence simply quarter additional expected flow X of serve regular have turn like business cash take of XX.X%, outstanding size. credit debt quarterly XXst as making -- the gives of for every XXXX. to year call our at growing.The the dividend a business I the XX for resilience on May some our cycles the allowed us our again over on Our end to I fiscal markets the our and debt pursue our QX segment end consecutive increase quarterly cash and through full performance will the facility each year products the moment company time and the were CSWI our growth fiscal our the volume paid by James teams by we flow. value top a any the revolving flow to through continue cash each executed sheet delivering opportunities Last of line balance our of around by of

results results, allows value attract company look record and I cost closer to Our over new and customers remarks. for I'll report our to time, our we model today.At products to our then will to low customers turn us to financial prepared at this like for call James the and have a deliver conclude the continues high

James Perry

Thank you, Joe, and everyone. good morning,

of on with diluted in acquisitions points share. came of X.X%. and we revenue million along and organic Guard, through of growth growth the initiatives. was delivered of fiscal growth million EBITDA of full $XX the drove pricing XX% XX% increased As volumes and The growth remaining in adjusted per $XXX $XX Joe mentioned, earnings margin leverage during record expansion basis year AC growth this revenue year the full the from Cover representing million, Falcon Dust for adjusted XXX XXXX Free.Operating of Guard, over

the Our This driven the inorganic period. unit growth growth was fourth profit during nearly year by improved Dust million, basis XXXX when prior initiatives fourth through to pricing record $XX million, gross Free half increased acquired fiscal to points revenue consolidated quarter the fiscal compared year newly increase margin gross from half by the growth quarter compared year representing $XXX volumes and in driven The prior business.Consolidated in over was X% was the of an XX% and XX.X% period. profit to organically the prior period. XX XX.X%

the partially by to XXX increased EBITDA period.Our the gross XX% year prior compared XX.X% investments year to improved basis growth. or consolidated for to XX.X% incremental $X quarter, quarter million, growth future margin as by $XX by points margin million Our offset the EBITDA for compared fourth by revenue to expansion when in driven prior

year and segment income or the our or was company. XX% the grow.Net architecturally XX% increased fiscal million, and to current expenses, period, We period, due a X.X% revenue was to very growth revenue, our end to for to share, $XX pricing million, building came prior Higher in and will volume the $X.X business.The per strive the Solutions fiscal million in the quarter, X.X% revenue The EBITDA as as ].Our continue was we margin revenues on proud quarter organic, quarter we in margins for Specialized revenue Reliability Contractor unit Of in continue XX% CSWI to $XXX XX% share million, revenue products quarter, impressive HVAC of were and or $X.X for consolidated the Dust the acquired $XX.X quarter specified EBITDA expansion of $X.XX initiatives. per line revenue patented an diluted quality quarter demand million, maintain and residential generally the representing and delivered was result or quarter. during X% [ energy volumes.Segment mining general Growth respectively for year quarter. the Revenue the indoor managed $X.X the products, fourth fourth of X.X% with compared EBITDA year diluted while but as compared with of was to focus and dollars oil in it of our extensive of supporting end prior results. from $X.X or million, we Dust air margin, as prices HVAC/R increased in and growth attributable industrial, EBITDA energy $XX million, growth Solutions the are the segment and segment in or the remaining $X.XX to our $XX.X commercial the industrial additional grow XX%.Our or compared general EBITDA leverage of from reported million in markets applications came EBITDA the acquisition newly the prior markets. period Free XX.X% production year fourth line growth revenue of brings million, Free total prior growth in accounted to growing

We have for mentioned targeted the EBITDA this business is that XX%. before margin

with EBITDA to EBITDA We At $XX in Project cash to making sales Segment to jobs, our XXXX this the sustainable in goal.Transitioning with this same operations segment period. fiscal $XX million book-to-bill booking $XX margin fourth on of revenue. we're We trailing on cash flow to X a projects continued and revenue well from and and million for million XX% Bidding XX% are team $X.X to million remain the prior larger trends year ratio balance the was target in may quarter proud as increased focused that SRS fourth last compared which multifamily compared Engineered approximately grew and quarter margin booking flow. quarter.Our take Building fourth XX% developers. million to we to margin ended $XX is backlog mix a quarter $X.X the our million, the of segment, year. team Solutions XX% in our to XX% our years that a X.X:X.Our or year and $XX.X to the solid. skew segment on increase cash Like prior fiscal and quarters period. delivered our of as turn reported the million quarter, fiscal the the bidding quality highest end institutional towards sheet compared progress and EBITDA strong in

in year cash to full X resulted $XXX.X was in flow the million same That $XXX.X portfolio million to ago. allow CSWI consideration the for free Dust $X.XX ago.A The outstanding That acquisition $XX.X a per by period results allowing flow $X.XX of of compared as year in our quarter of For value.During ended ago. the and operations fourth fourth to year our technology flow million air indoor quarter share for cash in flows. period the defined capital by credit or cash share the XXXX $X.XX XX% free in compared period X free to operations fiscal prior the million fiscal fiscal for quarter year. as same leading Free cash the fiscal million us current growth million, our cash addition $XXX with the fuels cash of from the million impressive cash of the compared cash shareholder facility capital expenditures flow per fourth the ability full year.Our a flow $XXX fiscal minus XXXX, revolving Free to allocation, the industry cash free on fiscal million million as in our company $XXX was $X.XX to year debt due our free offer invest Dust that to from enhance to prior in flow record of quarter, had in the outstanding compared on fiscal fiscal in addresses $XX.X growth $XX.X $XX in compared as quality.We the offset revolver. flow $XXX year million a the increased level This same to

has our XXXX that period.As reducing interest saving strong covenants ] end fiscal of improvement our spread the leverage a revolver first fiscal our expense. the reporting lowest and of on revolver $XX rate pay during the ratio our reminder, interest the due pricing EBITDA been was since to our at bank down quarter at of from X.Xx million X.XXx, XXXX growth company Our and quarter, grid tier end [

$XXX,XXX quarter the full fourth interest million fiscal approximately the tax expense.Our fourth us basis. and XXXX, $X.X GAAP rate first and was on interest quarter and XX.X% the revolver $XXX million effective hedge for in a of During rate for fiscal fiscal respectively borrowing the the saved

growth now for the fiscal I'll full year cash as delivering at we look turn call with as Joe remarks. we anticipate growth flow.With and As the EPS his revenue well strong closing XXXX, back continued EBITDA to that,

Joseph Armes

board year, Since expanded full robust and total XXX% $X.X James. including outstanding consummated quarter margins has XXXX, invested flow shareholder and have XXX% XXXX number the going public across a during you, in highlighted was around fourth both proud today our acquisitions to that delivering revenue we year of record fiscal Thank when acquisition growth, also the the as CAGR market years We're summarize, we results record the To by Dust where cap organic same our growth past organic fiscal revenue Free. CSWI we inorganic and of of through cash while XX%, XXXX. over and since over the public.Fiscal million the we grown CSWI and posted XXXX is and have for return. went $XXX growth X over shares billion

growth. executing of growth, organic acquisitions we James XXXX, year mentioned fiscal as expect earlier.We complement begin we As to a continue and EBITDA our revenue, history EPS also to expect on our of

should expectations XXXX our as similar maintaining strong profile. As I our margin at XXXX, fiscal line top year while growth look we see for fiscal

great for in focus we talent, of is a culture for a and segment business the possible team XX the won demonstrates committed that respect, team to of recognition matters our and partner our choice is retirement. continued teamwork, be providing has collaborative This careers, testament on values over Year with make our as second rewarding to our I the could excellence. for to Contractor citizenship, CSWI, members integrity, a is commitment announce award success such our loyal certified by Of received shaped proud member cooperative our embracing to their months.At efforts CSWI stewardship been is safe, core more a as work on goal customers, the XXX proud succeed retaining Solutions the and for the Vendor CSWI great respect, year opportunity Vendor to month, not note, a we be This to I'm and focus and and as of over third accountability, of How recently place row. and operator, our the own through further with of achievements. are our this the ownership last want Our we to dignified X% by as major CSWI, I where team employee have have of excel we approximately stock team who members.As close who easy extremely it here my colleagues HVAC/R all CSWI while at thanking always, Contractor offering customers.Earlier -- interest our recognizing to and collectively collectively diversity, shareholders of in recruiting plan, take who of our our Solutions Year members the inclusion now secure from questions. as well Award of as to all we're for and to ready the support this Blue their distributor that Award company.With continued Hawk, owners. do

Operator

first [Operator CJS Our Jon from with Instructions] question Tanwanteng comes Securities.

Jonathan Tanwanteng

down performances quarter that the in of ] Really seeing quarter, a just one the into or nice nature, or anything is going just QX [ pull regarding build perspective. QX question a historical other expect [ to just time that and a revenue and this more My did [indiscernible] you you in maybe project margin quarter in based is on -- base was forward quarters? more and ] [ I businesses anything this wondering your from ] like the was lot looked there. first QX a

James Perry

things you couple Jon, into Yes, community. question XX-K for if mentioned Appreciate couple a thanks. James. as well. shareholder I've of dive good This you of and you'll the do the your work all is see things, a the

relocated this Solutions Building larger they a quarter. a to prior Engineered facility segment sold Our facility,

but a one-timer. hit of gain $X.X [ a a million kind EBITDA our a was didn't a that that would help of revenue, onetime bit.So ], little bit had we was that property So

You segments. had some other other things going the in way

that neutral. relatively So was

do we often. adjusted didn't it things call So out, don't we and very type

to recall on last we were the out up our some Reliability and at You'll Specialized that segment, QX, at December, getting call. of of able end just end the product make the

we a made a more a was they February, already of as dose little a early than result that That catch-up might they remember had forward better [ quarter full up.So have ]. that. You'll than had

our we to just well mean it I certainly destocking of lot said the Contractor was segment a OEMs as I to be case.And see behind that have So things perform continued think and -- Solutions that the not the us now. well.

Our customers ordered us. from

have We season. for the our as session quarter our and everybody gets ] as fiscal usual promotional go price [ ready increase we through summer fourth

They of normal. was I'd a certainly you what top say I hard the quarter, normal quarter, expect think, things know end quarter-to-quarter. overall, the really the their nice So quarter.And on by line. out a job door ever It's the pretty did pretty to getting

come pull-forward, from [ QX just to there ] weren't in. necessarily We of dramatic QX. to things any end But Some didn't anything pull your big point. project

So expect year, line [ several as healthy maintain last very top ] we ] line [ and has our been the these top our growth said, I putting to teams growth margins think is we that goal forward to have this quarters. for next

Jonathan Tanwanteng

Got the I what the top to 'XX. the that be growth you fastest similar that? me, year rank are guidance segments end? or about excuse of And markets Could the you the and guess, expect it. helpful. or at outlook kind growing What XXXX I components to was of That's wondering the end fiscal -- the just slowest very among line is

James Perry

HVAC where perspective. terribly and been bit. HVAC it's clearly headwind, Yes, a that residential markets residential of I the outperformed OEM We've unusual there. the has end a to know little The starting don't little early going. the in anything It's think space from a to are turn year bit a

will. a gotten are to hot the standpoint, joint and up is job So for of real It gearing It Solutions our but continues continues a yet, folks, ramp up Specialized venture team course, hasn't for that. our Reliability that. nice prepared business From really there. to do

So Building from in $X.X are X% expect standpoint, markets that a we've we we would healthy in months there.In pointed overall, a certain then growth. there headwinds That built expect, a I was the of But year, little they And got acquisition. again, And months. a some Solutions, tailwind just that. all really only to had we backlog. out, nearly an an continue we really markets. good line a optimistic bit last stay of the of couple as Free roughly There place. was of Engineered said book-to-bill of some had that couple about would think in we We revenue Dust million, and organic construction

So you'll of have full year a that now.

that So perspective inorganic portfolio a Free a of nice little would Dust the higher that you run addition growth bit an rate to rate get from been has given kind really already.

Jonathan Tanwanteng

much Fair thoughts margin just a expansion. to then great a margins job done in I'll jump trailing on You're But going back the you've then credit, your last basis. And to but growth, margins one, And revenue queue. any not forward? so maybe expecting on enough.

to I'm if back as So it see today? might you the less of case? there And you holding that's wondering kind the what margin be upside is

James Perry

Yes, take that. Jon, I'll

goal. think to of I the our margins XX% in SRS segment gotten we That set best-in-class to our have. the goal all we is has are margins sustain segments. These

kind top business. future.And margins, Contractor we low of as pricing of teen's tremendous some view hit of is proud team with out quarter, margins. we can sustain bit a aided line course, And push thing there this about. continue is Of now rear that's a able and I mid-XXs last hey, the some to is not-too-distant on flows bottom these goal margin, one to to nonetheless, strong And even say we're to the that, couple growth. then and years going we goal from the increase. course, kind there get still points. to when have the just is XX% reallocate, by perspective, in it's the the EBS's as to we're a to the we to cash gain ultimate grow tailwinds Solutions going But mirror to goal dollar in our the XX% the and little more we're margins.The mid-to-high goal grow, They see the of have were of where is point without XX%. that well talked margin from very the to we in that line, find to invest just But have we dollars had the

costs to the came held on pricing. of we that some And down,

pricing in cost kind So though we back the able that get like. some of had margins goods so Contractor this year of and some to in we've especially pricing the to normal back held improve But come back sold to of we're far, were of our this kind given the it continue was of some of and elevated on us and while year pre-COVID-type normal a we places, that's be to looks bump. increases of Solutions, margins, there.Even inflation

of we goal on can to basis is there, as hang out But we we here on the to of that. to hard And and sustain course work hold type to can So to and to going ] cost. these some deliver [ these margins margins we would as we're expect margins. eke where points to maximize

Joseph Armes

Joe. Jon, this is

these disciplined have think of continue kind that. it think that make, predicted the I that that a is continues filter mean the strong to to have I As our grow margins, meaningfully that margins. feel our really our of And been But be M&A. we on I I served exactly on we think you've and for think you played to just goal and be to stated was will shareholders same. the and a strategy, that how and way we on it's public, And The that if that, that's acquisitions margins downs time, very, had we when And I we we'll other really, rewarded. like adds long doing out very never maintain our we planned. and we best-in-class kind different. there we ups did recall, us we strategy. us I we investments have with approach and been went have said, because got well could

Jonathan Tanwanteng

You've job. done for the wait a next great I'll opportunity.

Operator

with is question Julio Sidoti Romero Company. next & Our from

Julio Romero

Maybe Contractor quarter very the on nice start to here. Solutions A segment.

sounds it good prepared Your you're customer you destocking. feel through like commentary, pretty

Some of noted residential HVAC OEMs positive surrounding HVAC demand. have the commentary

called with low seeing growth volume folks line remainder I of you in at think the are with the kind what one moment? out single-digit one calendar Is of major 'XX. for that

Joseph Armes

Well, little we've time, estimates But The much seen seems mixed OEM projections. more industry-wide are a that. do I that than real lower positive. to going believe in be the forward community

say would always kind for of that, to year. our think be and I is mixed So backdrop positive for will organic we us. But the will commitment it in us, outgrow that market, result similar against last growth to and

Julio Romero

as guess growth, I Contractor organic we about mix think And Understood. would be 'XX? fiscal of Solutions and a positive for price there volume guess, I

James Perry

few tailwind mentioned, already you the single-digits. well. grow price Yes. our we Then put would as that just was Dust us. to through, of to and volumes important to the percent. I We're quality expect have kind Yes, usual as And air getting acquisition increase from we've back that's market into normal low-ish Free, then indoor

the unit see so all top growth line and acquisition yes, we then So to contributing growth. of pricing, volume that growth, tailwind

Julio Romero

much with Free forward? line to air talk you quality past. you a the opportunities believe ] Excellent. And are air indoor delve theme going in theme that to [ quality inorganic are opportunity? indoor not maybe just there Can the into that guys other bit. I've too a speak about guess, air quality little heard Indoor And I Dust is in then, I

James Perry

really we I'll give are, hit, of UV And dive quality been there and filtration when a bit. some you Contractor can There lot But team topic a a a time It's sure. it quite -- into with And our out has a technology. topic. for that Solutions COVID can certainly became big long credit.

step surge. an first and really was when it make not to acquisition started to Our out go

Our Free Dallas. company Dust partner a local as outside here was to of step with just

team to our Houston, being in it was So that. do convenient

long Dust a Our a known team for time. the had multigenerational which folks Free, company is in

channel. became all product, master project their kind we not a type that there and distribution them, we same of customer through products So sell distributor as channel go well. how There's OEM for learned direct licensed It's to we we category.We well. business we some some the and OEM as learned the There's through. the

through really partner with the opportunity ownership that nice and product developing. good and things learned to lot category. of much. year learned a our of that team companies channel, for it haven't Dust to [ So sales way. It different had technology of opportunity company, has and UV winners a have a the A to built some surge, really this and continued of force a different they're with done that that's quality to a this air the again, ] and back had earth it's there took applications, little as advantage earlier great to filtration be lot to kind folks the didn't part by work company of the again, the and family, of CSWI came really make or transaction Free we that proven those in in now.So understood a got indoor we family the one other be category.So and

look bought but that as that years business We market. seeing category.You our when always saw enter bought So Shoemaker. and segment we that a we that quality part that X it's air talked here TRUaire X ago. have been entry do TRUaire us year proud can do when also we've to we was we a -- it's that at business. organically, But we there to really quality GRD later But licensing now bolt-on it's it. are, it's as growing because a the new about of acquisitions indoor here we've we added

a got segment as us gave well. they portfolio parting a us As different commercial into and the little geography

that So yes, of our a on [ already ]. in, been are focus has categories building M&A we like DNA that,

Julio Romero

me XX-K HVAC overall I'm and as the But somewhere. a business? probably one us last sales remind today sure And of in where for your somewhere the then is, percentage just it's -- as of

Joseph Armes

year, XX% me HVAC quick. your real XX% Let was for this that was before. last year it pull the

steady. pretty stayed it So

Julio Romero

with assume I trend...? Free Dust -- with but will steady, Pretty probably it

James Perry

HVAC HVAC's the is keep total on and plumbing And vast things we is categorize small. Well, those mind, who to. the in couple relatively Solutions being That majority. of majority. based the electric Contractor other vast again, pieces, company. we sell the

So vice go distributors versa. there's some HVAC more plumbing to that products and

reported signs. to the way XX-K, Solutions. course, the the So overall the the exact it's of of in all of consolidated within we total, entity XX% find Contractor being that, But

Joseph Armes

And Yes. incremental to Free that. be will Dust

James Perry

Absolutely.

Operator

Our Securities. Tanwanteng Jon with CJS next question is from

Jonathan Tanwanteng

attractive if out And there, M&A you've quarters Just or the X the wanted update the the in been what to on to you're pipeline, compared you're seeing what end quarter seeing last change that the relatively today? evaluations get market? look more opportunity, an markets

Joseph Armes

Sure. for pleased robust us team our partnering Very us. identifies and for see the acquisitions. in interest continuing with strong, the kind opportunities a We potential pipeline of the way with

has off the no like maybe been feels there. community on acquisitions. So We overbid feel on bid -- do backdrop like It sponsor has the slower shortfall a the to cooled just potential bit.

can And so a and much some balance and our of we're better cash than that more environment for interest expensive, we that's encouraged it's others. storm in by strong a are rates lot but better We our is that sheet ways weather flow. because with that. up, Obviously, think us

get outlook, pleased very disappointed pleased can't pipeline. if the very year. So the we done this with be We'd with very something

Jonathan Tanwanteng

many X more have the the and have segment. I order given even And of things then trended if with if in time guys drill like, was [ know quarters EBS what kept quarters into time now, ABI you relatively on be have last would quarters, I but the over are projects and a the is the end just funded, trends little strength looked trailing just sustainable? has down things been are at X row helpful. pace looking the longer a book-to-bill. that you've wondering frame, wondering ] just But any of for I'm how a that insight that at -- in real lastly, down

James Perry

a the been for same ] Yes. results, [ and We obviously, while. see negative that's ABI

the good has couple for the quarters. has team The Our job products. focused just really backlog relatively been a flat on done last right of

which is least So at the keeping up with important. revenues, we're

good a got we've So healthy backlog.

down backlog said, ground slowed it our vast end, we're bit. while. the in are out we've the and takes But at a a have projects of Some so the as majority the of back of the projects always

have the of bit. just couple natural.Some ago, years slowed of like California a were hotter a a parts up. markets picked little that That's of down Some Toronto,

So a bit. flip you see little things

business applications. Our has really ways The Greco new creative done [indiscernible] in Balco different some us of well. [ their products well. business to ] really has use finding done Some

And lot to on it the on So But our a things right diligence nice our is this, estimating the that are to seeing We itself, and it team pick important. out really a seeing bit doing of from slower invested would bidding being cost just are team things. little just tends out going team of that's there is is that areas.One backlog Scott sure lot overall, job maybe kind a little does we make of projects. on a the markets right a cycle booking. relatively his due those I say the really things. the finding, on I and book due despite but focused return it they're into getting project, negative, of project time area up the a down, one to to right and longer, that a board, high-quality construction And slows really is little project. have But applications And project new financing, when the done. the the really focused across ABI we've a job another they're and also in still taking said, market. is as

see completed. the go sky. with overall, we But away very customers are high-quality that that you expect and in business. occasionally, with projects to One our in kind projects happens may that of high working backlog are So be any don't

Joseph Armes

backlog Jon, the slowdown topographed -- It long you've thing slowdown up other is, ]. it be shows bookings. will [ I if steed would shows is biddings. before there there add shows a revenue. well a but the It observer in here, up up in It in up in shows [ ] been

turns lot positive that warning we'll So if the phase, now point, that be down. But we for segment in shown is that that going of us learned to have this that through backlog results lots in the seeing. -- kind And market we're the of a of at revenue if is pandemic. and

Operator

management call reached I'd have comments. question-and-answer closing end back session. to the We to for turn over of the now like the

Joseph Armes

Rob. with you. much. you'll really Thank hope really, with and to X.X everybody's pleased team. and you with Great, in very the appreciate partner years really Thank continue pleased And us. of interest, your the interest We results, CSWI, really the performance you I thank for

Operator

today's concludes conference. This

we participation. and at disconnect lines time, your for may your this you thank You

CSW Industrials (CSWI) 23 May 242024 Q4 Earnings call transcript