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CSW Industrials (CSWI) investor relations material
CSW Industrials Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary30 Oct, 2025
Executive summary
Achieved record quarterly and first-half results for revenue, adjusted EBITDA, adjusted net income, and adjusted EPS in fiscal Q2 2026, primarily driven by recent acquisitions in HVAC/R and plumbing markets despite market headwinds and organic revenue declines.
CEO reaffirmed commitment to long-term growth and employee participation, with a disciplined capital allocation strategy focused on acquisitions and operational excellence.
Year-to-date revenue for FY26 was $540.6 million, up 19% from the prior year, with $105.6 million inorganic growth and a $19.1 million organic decline.
Returned $32.1 million to shareholders year-to-date through $23.0 million in share repurchases and $9.1 million in dividends.
Announced a definitive agreement to acquire MARS Parts for $650 million, expected to close in November 2025, marking the largest acquisition to date.
Financial highlights
Q2 revenue reached $277 million, up 22% year-over-year, with net income up 12.8% to $40.7 million and adjusted EBITDA up 20% to $73 million; gross margin declined to 43.0% due to acquisition mix and higher material costs.
Adjusted EPS was $2.96, up 15.2% year-over-year, despite a higher share count from a recent equity offering.
Free cash flow for Q2 was $58.7 million, up 30.2% year-over-year excluding prior year tax deferral; operating cash flow for the first half was $122.5 million.
Contractor Solutions led with $208.5 million in Q2 revenue (31.2% increase), $67.6 million adjusted EBITDA (26% increase), and 32.4% margin.
Adjusted EBITDA margin for Q2 was 26.3%, with net leverage ratio at 0.12x at quarter end.
Outlook and guidance
Management expects record full-year results in revenue, adjusted EBITDA, adjusted EPS, and operating cash flow.
No updated organic growth outlook for the remainder of the fiscal year due to HVAC/R market volatility; more guidance expected next quarter.
Mars Parts acquisition expected to close in November 2025, with anticipated synergies and margin improvement over the next year.
Aspen Manufacturing revenue expected to grow mid-teens through fiscal 2025, normalizing in the second half of 2026.
Address organic growth headwinds in HVAC/R
Explain margin impact from acquisitions and tariffs
MARS acquisition: How will it drive future growth?
Mars Parts: Drivers beyond $10M synergies?
Organic growth: What signals market recovery?
Tariff mitigation: Sourcing shifts & pricing?
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Next CSW Industrials earnings date
Q3 202629 Jan, 2026
Next CSW Industrials earnings date
Q3 202629 Jan, 2026
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Frequently asked questions
CSW Industrials Inc. is a diversified industrial growth company that provides niche products and solutions across three primary business segments: Contractor Solutions, Engineered Building Solutions, and Specialty Chemicals. Its product portfolio includes HVAC/R tools, coatings, sealants, adhesives, fire and smoke protection systems, and specialty lubricants. These products serve industries such as construction, energy, transportation, and manufacturing. The company is headquartered in Dallas, Texas, and its shares are listed on the NASDAQ Stock Exchange.
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