Csw Industrials, Inc. · NYSE:CSW
Csw Industrials — Q3 2026 Earnings Presentation
55 slides from Csw Industrials's earnings presentation, Jan 29, 2026
Slide 1: Investor Presentation Fiscal 2026 Third Quarter Results
Fiscal 2026 Investor Presentation Third Quarter Results January 29, 2026
Slide 2: Forward Looking Statement and Non-GAAP Financial Information
Forward Looking Statement This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 relating to, among other things, the business, financial condition and results of operations of CSW Industrials, Inc. (“CSW” or the “Company”). A
Slide 3: Index
Index 4 Overview, Culture, Values, and Investment Thesis 17 MARS Parts Acquisition 24 Business Segment Overview 36 Fiscal 2026 Third Quarter Results 41 Fiscal 2026 Year-to Date Results 46 Appendix
Slide 4: CSW Industrials, Inc. (NYSE: CSW) Key Highlights
CSW Industrials, Inc. (NYSE: CSW) Key Highlights 2015 Publicly Listed Following Spin-Off ~$5.3B A diversified industrial growth company with a strategic focus on providing niche, Market Capitalization3 value-added products in the end markets we serve. ~$1.7B Three Segments (Segment percentages refle
Slide 5: Continuously Evolving Our Portfolio
Continuously Evolving Our Portfolio CSW Industrials has consistently evolved through strategic acquisitions and initiatives, resulting in a proven track record of sustained growth and margin expansion. 2015 Portfolio TTM 3Q26 portfolio1 Revenue by segment Revenue by segment $262M $1.0B FY15 Sales TT
Slide 6: Corporate Culture and Values
Corporate Culture and Values The Goal of Our Corporate Culture is to Maximize Performance CSW is committed to recruiting great talent, offering rewarding career destinations, and recognizing team members. Our employee-centric culture features an environment where every team member belongs, is encour
Slide 7: Corporate Culture and Values
Corporate Culture and Values Our Commitment to Our Core Values: We seek to create, nurture, and sustain an inclusive and diverse environment that attracts and retains the highest caliber team members, respects the intrinsic value of each individual, and leverages their skills and expertise to serve
Slide 8: Compelling Investment Thesis
Compelling Investment Thesis • Total revenue CAGR of 14.1% from FY16 through FY251 Growth exceeding end • Organic revenue CAGR of 8.7% from FY16 through FY251 markets served • Total adjusted EBITDA CAGR of 16.5% from FY16 through FY251 • 44.1% adjusted Gross Profit Margin annual average FY16 – FY251
Slide 9: Sustainable Growth in Shareholder Value
Sustainable Growth in Shareholder Value Our demonstrated track record of growth and enhancing long-term shareholder value. Since Inception Maintain Our Strong Balance Sheet • 1,026% market cap growth1 • 276% Revenue growth2 Allocate Capital Efficiently • 326% adjusted EBITDA growth3 Invest in Organi
Slide 10: Strong Long-Term Free Cash Flow and Adjusted EPS Growth
Strong Long-Term Free Cash Flow and Adjusted EPS Growth Free Cash Flow1/ Share and Adjusted EPS2 (FY21 - TTM 12/31/25) There were 15.5M shares outstanding Legend FCF / Share FY21 - TTM CAGR: 21.7% at year-end FY24 and 16.8M shares ■ Free Cash Flow1/Share outstanding at year-end FY25 due to ■ Adjuste
Slide 11: Stated Capital Allocation Principles
Stated Capital Allocation Principles CSW Industrials is committed to maintaining a strong balance sheet with ample liquidity through both cash and available credit to capitalize on growth opportunities, both organically and inorganically. Capital Allocation Policy issued in November 2018 and reaffir
Slide 12: Allocating Capital Efficiently
Allocating Capital Efficiently TTM Capital Allocation1 Capital allocation decisions are prioritized on a risk-adjusted returns basis, ($ in millions) with the ultimate goal of driving long-term shareholder value. $1.1B Capital Expenditures $16.7M Organic Growth Inorganic Growth • Invest in enhancing
Slide 13: Strategic, Disciplined Approach to M&A
Strategic, Disciplined Approach to M&A As a diversified industrial growth company, our goal is to increase free cash flow through sustainable organic growth, accretive inorganic growth, and operational efficiencies. CSW Industrials Criteria: • Long-term growth well in excess of GDP • Strong margin c
Slide 14: Long Standing Track Record of Successful Acquisitions
Long Standing Track Record of Successful Acquisitions We have a successful record of making attractive and synergistic acquisitions that support expansion of our broad portfolio of solutions. Acquisition Metrics Key Highlights • Identify and execute accretive acquisitions that will broaden and compl
Slide 15: Our Distribution Channels Accelerate Growth
Our Distribution Channels Accelerate Growth We have focused Without CSW: Limited Distribution With CSW: Broad Distribution on expanding our distribution network in recent years, enhancing revenue growth from new product introductions and acquisitions. Newly designed products, while innovative & help
Slide 16: Our Guiding Objectives
Our Guiding Objectives At CSW, how we succeed matters, and accordingly we will: Position CSW for Treat Our Team Serve Our Manage Our Supply Sustainable, Long-Term Members Well Customers Well Chains Effectively Growth and Profitability • Focus on Safety: • Emphasize consistent • Continuous improvemen
Slide 17: MARS Parts Acquisition
MARS Parts Acquisition
Slide 18: CSW Closes the MARS Parts Acquisition on November 4, 2025
CSW Closes the MARS Parts Acquisition on November 4, 2025 Financing Considerations Financial Impact Transaction Highlights $650MM ~10.4x >30% Purchase Price Implied multiple on EBITDA margin run-rate CSW’s largest acquisition TTM Synergy-Adjusted EBITDA expected at 12 months post-close • $650MM purc
Slide 19: MARS Parts Overview and Key Brands
MARS Parts1 Overview and Key Brands ~$204MM2 ~$52.3MM Key Stats Established 1946 TTM Revenue TTM Adj. EBITDA SKUs 5,000+ ~25.7% >30.0% TTM Adjusted EBITDA Margin Adjusted EBITDA Margin Post-Synergies Company Overview Key Brands Established in New York City as an electric rewinding operation and bega
Slide 20: Complementary Products Create Strong Synergistic Offering
Complementary Products Create Strong Synergistic Offering Strong Offering Limited Offering Moderate Offering Little to No Exposure Electrical Components Motors Equipment Mounting Indoor Air Quality Air Movement Chemicals Condensate Management Installation Supplies – Ducted Installation Supplies – Du
Slide 21: MARS Parts Capacitors - HVAC/R Electrical Components
MARS Parts Capacitors - HVAC/R Electrical Components Capacitor Key Products Turbo Universal USA Capacitors JARD Capacitors Universal motor-run and motor-start USA manufactured motor-run and motor- Value oriented motor-run and motor- capacitors, allowing for a single product start capacitors, capable
Slide 22: MARS Parts Motors - HVAC/R Electrical Components
MARS Parts Motors - HVAC/R Electrical Components Motor Product Categories HVAC Blower Condenser Fan Refrigeration Full line of PSC, X-13 and ECM motors Full line of condenser fan motors to serve Complete line of commercial capable of powering air handler & air conditioning & heat pump condenser refr
Slide 23: Post-Acquisition Capital Structure
Post-Acqusition Capital Structure • $700M Revolving Credit Facility and $600M Term Loan A ◦ $600M currently outstanding on the Term Loan A ◦ $201M currently outstanding on the Revolving Credit Facility • $300M Interest Rate Hedge on Term Loan A Capital Structure, ◦ 3 years, or 360-day term Borrowing
Slide 24: Business Segment Overview
Business Segment Overview
Slide 25: Segments Summary
Segments Summary Contractor Solutions Specialized Reliability Solutions Engineered Building Solutions • $739.1M TTM Revenue, • $151.6M TTM Revenue, • $121.0M TTM Revenue, $229.7M adjusted EBITDA, and $25.2M adjusted EBITDA, and $17.7M EBITDA, and 31.1% adjusted EBITDA margin 16.6% adjusted EBITDA m
Slide 26: Contractor Solutions Segment: Markets & Brands
Contractor Solutions Segment: Markets & Brands Summary: End Markets Served: • Highly diversified product portfolio providing • Future growth focus on new product industry leading products in both direct-to- introductions through organic innovation and customer and distributor models inorganic additi
Slide 27: Contractor Solutions: Products
Contractor Solutions: Products Motors & Capacitors Air Handlers and Evaporator Coils Surge Protective Devices Plumbing Products Indoor Air Quality (IAQ) Products (Retail & Distribution Channels) Grilles, Registers, and Diffusers (GRD) Condensate overflow switches Pipe Thread Sealant and clean out de
Slide 28: HVAC/R: Ducted Products
HVAC/R: Ducted Products Outdoor Indoor TRUaire / Shoemaker Grilles, Registers & Diffusers Dust Free SST2 System Service Transition Dust Free Active Gold RSH-Series Air Purifier Aspen Manufacturing Disconnect Switch Coils & Air Handlers Outset Seal & Jacket Adjustable Lineset Kickstart Wall Seal and
Slide 29: HVAC/R: Ductless (Mini-Split) Products
HVAC/R: Ductless (Mini-Split) Products Outdoor Indoor CoverGuard / Fortress / SlimDuct Lineset Covers PairCoil Ghost Pre-Insulated, Safe-T-Switch SS610E Condensate Pumps Designed Paired Lineset Condensate Overflow for Mini-Split Systems for Mini-Split Installation Cutoff Switch NoKink Flexible Refri
Slide 30: Plumbing: Water Heating Products
Plumbing: Water Heating Products Tanked Tankless TripleGuard Active All-In-One Shutoff Falcon Water Connectors Calci-Free Tankless Cleaner Falcon Gas Connectors Falcon Falcon Gas Connectors Thermal Expansion Tank TripleGuard Active All-In-One Shutoff pH-Pro Condensate Neutralizer Drain Pans All-In-O
Slide 31: Specialized Reliability Solutions Segment: Markets & Brands
Specialized Reliability Solutions Segment: Markets & Brands Summary: End Markets Served: • Our product portfolio allows us to compete and • Innovating new and existing products to capture enhanced margins relative to larger peers accelerate organic growth • Focus on end markets with sustainable grow
Slide 32: Specialized Reliability Solutions: Products
Specialized Reliability Solutions: Products Investor Presentation 32 January 2026
Slide 33: Specialized Reliability Solutions: Shell Whitmore JV Products
Specialized Reliability Solutions: Shell Whitmore JV Products Investor Presentation 33 January 2026
Slide 34: Engineered Building Solutions Segment: Markets & Brands
Engineered Building Solutions Segment: Markets & Brands Summary: End Markets Served: • Market leader in providing unique solutions to • Multiple manufacturing locations provide architects and contractors that meet code efficiency to meet the needs of general requirements, while adding functionality,
Slide 35: Engineered Building Solutions: Products
Engineered Building Solutions: Products Investor Presentation 35 January 2026
Slide 36: Fiscal 2026 Third Quarter Summary of Financial Results
Fiscal 2026 Third Quarter Summary of Financial Results
Slide 37: Consolidated Results: 3Q26 Summary
Consolidated Results: 3Q26 Summary Consolidated Financial Highlights (3Q26 vs 3Q25): Summary Quarterly Consolidated Results ($ in millions) • Record quarterly revenue of $233.0M, a 20% increase ◦ $45.0M increase in inorganic revenue from recent acquisitions in Contractor Solutions and Specialized Re
Slide 38: Contractor Solutions: 3Q26 Segment Summary
Contractor Solutions: 3Q26 Segment Summary Summary Quarterly Segment Results Segment Financials (3Q26 vs 3Q25): ($ in millions) • Segment Revenue of $168.0M, a 27% increase ◦ Inorganic revenue of $42.7M, due to recent acquisitions 28.6% 28.4% ◦ Organic revenue decrease of $6.8M or 5.1%, due to conti
Slide 39: Specialized Reliability Solutions: 3Q26 Segment Summary
Specialized Reliability Solutions: 3Q26 Segment Summary Summary Quarterly Segment Results Segment Financials (3Q26 vs 3Q25): ($ in millions) • Segment Revenue of $38.3M, a 10.8% increase ◦ Inorganic revenue growth of 6.8% driven by Hydrotex and ProAction Fluids acquisitions 19.1% ◦ Organic revenue g
Slide 40: Engineered Building Solutions: 3Q26 Segment Summary
Engineered Building Solutions: 3Q26 Segment Summary Summary Quarterly Segment Financials (3Q26 vs 3Q25): Segment Results ($ in millions) • Segment Revenue of $28.5M, a 1% decrease ◦ Decrease primarily due to the softness in the market 14.2% 14.2% • Segment EBITDA decreased 5%, and EBITDA margin Marg
Slide 41: Fiscal Year-to-Date 3Q26 Summary of Financial Results
Fiscal Year-to-Date 3Q26 Summary of Financial Results
Slide 42: Consolidated Results: Fiscal Year 2026 YTD Summary
Consolidated Results: Fiscal Year 2026 YTD Summary Consolidated Financial Highlights (3Q26 YTD vs 3Q25 YTD): Summary 3Q26 YTD • Record YTD Revenue of $773.6M, a 19% increase Consolidated Results1 ◦ Inorganic revenue of $150.6M from the recent acquisitions ($ in millions) ◦ $24.8M organic decrease du
Slide 43: Contractor Solutions: Fiscal Year 2026 YTD Segment Summary
Contractor Solutions: Fiscal Year 2026 YTD Segment Summary Summary 3Q26 YTD Segment Results Segment Financials (3Q26 YTD vs 3Q25 YTD): ($ in millions) • Segment Revenue increased 27% to $573.2M, primarily driven by: 33.1% 32.0% 30.3% ◦ Inorganic growth of $148.2M from recent acquisitions Margin Marg
Slide 44: Specialized Reliability Solutions: Fiscal Year 2026 YTD Segment Summary
Specialized Reliability Solutions: Fiscal Year 2026 YTD Segment Summary Summary 3Q26 YTD Segment Financials (3Q26 YTD vs 3Q25 YTD): Segment Results ($ in millions) • Segment Revenue increased 3.6%, to $113.9M, primarily driven by: ◦ Inorganic revenue growth of 2.1% driven by recent acquisitions in t
Slide 45: Engineered Building Solutions: Fiscal Year 2026 YTD Segment Summary
Engineered Building Solutions: Fiscal Year 2026 YTD Segment Summary Summary 3Q26 YTD Segment Financials (3Q26 YTD vs 3Q25 YTD): Segment Results ($ in millions) • Segment Revenue decreased 0.1% to $92.3M • Segment EBITDA decreased 20% to $13.5M 18.3% ◦ Segment EBITDA margin decreased 360 basis points
Slide 46: Appendix
Appendix
Slide 47: CSW Executive Team
CSW Executive Team Veteran leadership with broad industry experience, dedicated to enhancing shareholder value. Joseph B. Armes James E. Perry Donal J. Sullivan Luke E. Alverson Danielle R. Garde Jeff A. Underwood Chairman, CEO Executive VP and CFO Executive VP and Senior VP, General Senior VP and S
Slide 48: Reconciliation of Fiscal Third Quarter Segment Operating Income to Segment Adjusted EBITDA
Reconciliation of Fiscal Third Quarter Segment Operating Income to Segment Adjusted EBITDA (unaudited) (unaudited) (unaudited) (Amounts in thousands) Three Months Ended December 31, 2025 Three Months Ended December 31, 2024 Three months ended December 31, 2023 CS SRS EBS Other CSW CS SRS EBS Other C
Slide 49: Reconciliation of Fiscal Year 2026 YTD Segment Operating Income to Segment Adjusted EBITDA
Reconciliation of Fiscal Year 2026 YTD Segment Operating Income to Segment Adjusted EBITDA (unaudited) (unaudited) (unaudited) (Amounts in thousands) Nine Months Ended December 31, 2025 Nine Months Ended December 31, 2024 Nine Months ended December 31, 2023 CS SRS EBS Other CSW CS SRS EBS Other CSW
Slide 50: Reconciliation of TTM Segment Operating Income to Segment Adjusted EBITDA
Reconciliation of TTM Segment Operating Income to Segment Adjusted EBITDA (unaudited) (Amounts in thousands) Trailing Twelve Months Ended December 31, 2025 Contractor Specialized Engineered Solutions Reliability Building Corporate Consolidated CS SRS EBS Other CSW Revenue, net $ 739,136 $ 151,645 $
Slide 51: Reconciliation of Fiscal Year Company Net Income to Adjusted EBITDA
Reconciliation of Fiscal Year Company Net Income to Adjusted EBITDA Year Ended Year Ended Year Ended Year Ended Year Ended Year Ended Year Ended (Amounts in thousands) 3/31/2025 3/31/2024 3/31/2023 3/31/2022 3/31/2021 3/31/2020 3/31/2015 Net Income attributable to CSW 136,652 101,648 96,435 66,385 4
Slide 52: Reconciliation of Fiscal Year Company Gross Profit to Adjusted Gross Profit
Reconciliation of Fiscal Year Company Gross Profit to Adjusted Gross Profit TTM Ended Year Ended Year Ended Year Ended Year Ended Year Ended Year Ended Year Ended (Amounts in thousands) 12/31/2025 3/31/2025 3/31/2024 3/31/2023 3/31/2022 3/31/2021 3/31/2020 3/31/2019 Revenue, net 1,004,138 878,301 79
Slide 53: Reconciliation of Fiscal Year Company Operating Cash Flow to Free Cash Flow/Share
Reconciliation of Fiscal Year Company Operating Cash Flow to Free Cash Flow/Share TTM Ended Year Ended Year Ended Year Ended Year Ended Year Ended Year Ended (Amounts in thousands) 12/31/2025 3/31/2025 3/31/2024 3/31/2023 3/31/2022 3/31/2021 3/31/2020 Net Cash Provided by Operating Activities 178,62
Slide 54: Reconciliation of Fiscal Year Company EPS to Adjusted EPS
Reconciliation of Fiscal Year Company EPS to Adjusted EPS1 TTM Ended Year Ended Year Ended Year Ended Year Ended Year Ended Year Ended (Amounts in thousands) 12/31/2025 3/31/2025 3/31/2024 3/31/2023 3/31/2022 3/31/2021 3/31/2020 Net Income attributable to CSW 126,904 136,652 101,648 96,435 66,385 40
Slide 55: Slide 55