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CSW Industrials (CSW) earnings and revenue breakdown

Latest: Q2 FY27 · 10-Q filed Oct 29, 2026 · CSW Industrials (CSW) Q2 FY27 earnings results →

Q2 FY27 Revenue up 30% year over year to $361M · 13¢ of every $1 of revenue kept as net profit · operating margin 20.9%

CSW Industrials made $361M in Q2 FY27 (+30% Y/Y): Contractor Solutions $284M, Specialized Building Solutions $49.5M, Engineered Building Solutions $28.4M. Operating margin 20.9%, net earnings $47.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.

Revenue$361M
Year over year+30%
Operating margin20.9%
Net earnings$47.3M
Operating cash flow$95.4M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $361.4M in Q2 FY27, up 31% year over year and up 3% from the previous quarter. Contractor Solutions was the largest line at 78% of revenue. Contractor Solutions added $77.3M year over year (up 37%), 92% of the total change. Engineered Building Solutions declined 11%.

Gross margin was 42.0%, down 1.0 points from Q2 FY26. Operating profit was $75.5M, a 20.9% margin (up 0.4 points year over year). Of the extra revenue versus Q2 FY26, 22% reached operating profit, above the 21% margin then. Operating expenses grew 22% against revenue growth of 31%. Net earnings were $47.3M, up 16% year over year. The effective tax rate was 24.1%.

Operating cash flow was $95.4M (up 54% year over year), 199% of net earnings. Non-cash charges added back $19.6M of depreciation and amortization. Working capital and other items added $27.9M. After capital expenditures ($3.5M), free cash flow as the company reports it was $91.9M.

Quarterly history

CSW Industrials revenue by quarterCSW Industrials revenue by quarter$231MQ4 FY25$264MQ1 FY26$277MQ2 FY26$233MQ3 FY26$309MQ4 FY26$351MQ1 FY27$361MQ2 FY27
CSW Industrials net earnings by quarterCSW Industrials net earnings by quarter$35.1MQ4 FY25$40.9MQ1 FY26$40.7MQ2 FY26$10.3MQ3 FY26$20.2MQ4 FY26$49.8MQ1 FY27$47.3MQ2 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 FY2710-QOct 29, 2026$361M+30%20.9%$47.3M$95.4M
Q1 FY2710-QJul 30, 2026$351M+33%22.8%$49.8M$75.6M
Q4 FY2610-KMay 26, 2026$309M+34%12.8%$20.2M−$1.7M
Q3 FY2610-QJan 29, 2026$233M+20%7.4%$10.3M$28.9M
Q2 FY2610-QOct 30, 2025$277M+22%20.5%$40.7M$61.8M
Q1 FY2610-QJul 31, 2025$264M+17%20.8%$40.9M$60.6M
Q4 FY2510-KMay 22, 2025$231M+9%19.5%$35.1M$27.3M

Charts

CSW Industrials: revenue growth, year over year and quarter over quarterCSW Industrials: revenue growth, year over year and quarter over quarterY/YQ/Q+9%Q4 FY25+17%+14%Q1 FY26+22%+5%Q2 FY26+20%-16%Q3 FY26+34%+33%Q4 FY26+33%+13%Q1 FY27+30%+3%Q2 FY27
Latest (Q2 FY27): Y/Y +30%, Q/Q +3%.
CSW Industrials: where the cash came from (+) and went (−), TTM to Q2 FY27CSW Industrials: where the cash came from (+) and went (−), TTM to Q2 FY27Acquisitions−$696MOther financing$603MOperating cash flow$198MBuybacks−$149MNet borrowing (+) / repaid (−)$106MCapital spending−$20.8MDividends−$18.7MTaxes on employees’ shares−$12.7MCash drawn (+) / kept (−)−$5.7MOther investing−$4.8MAsset & business sales$346KExchange rates−$119K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
CSW Industrials: profit against cash, quarter by quarterCSW Industrials: profit against cash, quarter by quarterNet incomeOperating cash flow$27.0M$10.9MQ3 FY25$35.1M$27.3MQ4 FY25$41.2M$60.6MQ1 FY26$40.8M$61.8MQ2 FY26$10.6M$28.9MQ3 FY26$20.3M−$1.7MQ4 FY26$49.8M$75.6MQ1 FY27$47.9M$95.4MQ2 FY27
Latest (Q2 FY27): Net income $47.9M, Operating cash flow $95.4M.
CSW Industrials: diluted shares by fiscal yearCSW Industrials: diluted shares by fiscal year15MFY2116MFY2216MFY2316MFY2416MFY2517MFY26
+10.5% since FY21: more shares outstanding (issuance, stock pay).
CSW Industrials: long-term debt falling due (FY26)CSW Industrials: long-term debt falling due (FY26)$15.0M2027$30.0M2028$30.0M2029$30.0M2030$662MLater
Cash $33.8M, short-term investments —, long-term debt $766M at 2026-03-31.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About CSW Industrials

CSW is a diversified industrial growth company with a strategic focus on providing niche, value-added products in the end markets we serve. We operate in three business segments: Contractor Solutions, Specialized Reliability Solutions and Engineered Building Solutions. Our products include mechanical products for heating, ventilation, air conditioning and refrigeration ("HVAC/R"), plumbing products, grilles, registers and diffusers ("GRD"), building safety solutions and high-performance specialty lubricants and sealants. End markets that we serve include HVAC/R, architecturally-specified building products, plumbing, general industrial, energy, rail transportation, mining and electrical. Our manufacturing operations are concentrated in the United States (“U.S.”), Vietnam and Canada, and we have distribution operations in the U.S., Australia, Canada and the United Kingdom (“U.K.”).

In its own words, from its 10-K, filed May 26, 2026.

CSW Industrials against its Adhesives & Sealants peers

The largest companies of the same SEC industry, each at its latest quarter.

CompanyQuarterRevenueY/YOp. margin
CSW CSW IndustrialsQ2 FY27$361M+30%20.9%
FUL Fuller H BQ3 FY26$938M+5%11.1%

Source: CSW Industrials 10-Q on SEC EDGAR · CIK 1624794 · Adhesives & Sealants

13F: who owns CSW and who is buying

Largest holders of CSW (13F)Largest holders of CSW (13F)BlackRock$686MVanguard Group$516MVanguard Portfolio Management LLC$247MCapital World Investors$208MVanguard Capital Management LLC$205MState Street$188MWasatch Advisors LP$172MMorgan Stanley$160MGeode Capital Management, LLC$115MConestoga Capital Advisors, LLC$110M
Funds' net buying of CSW by quarter (13F)Funds' net buying of CSW by quarter (13F)$72.0M2024-09−$96.4M2024-12$38.7M2025-03−$27.9M2025-06$69.3M2025-09$333M2025-12−$60.2M2026-03−$125M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on CSW

History

Every quarter: Q2 FY27 results · Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results

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