CSW Industrials, Inc.

or on a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. 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.

Thank you, Rob. Good morning, everyone, and welcome to the CSW Industrials Fiscal 2024 Fourth Quarter and Full Year Earnings Call. Joining me today is Joseph Arms, Chairman, Chief Executive Officer and President of CSW Industrials, and James Perry, Executive Vice President and Chief Financial Officer. We issued our earnings release, updated investor relations presentation, and Form 10-K prior to the market's opening today, all of which are available on the Investors 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.

Thank you, Alexa. Good morning, everyone. Once again, it's my pleasure to report to you that our team has executed and outperformed the markets we serve. We achieved record results in both the fourth quarter and the full fiscal year, surpassing the healthy performance of the prior year. Earlier this morning, we reported record fourth quarter revenue EBITDA, and earnings per diluted share. We also delivered meaningful EBITDA margin expansion in the fiscal fourth quarter. CSWI has now delivered four consecutive quarters of record results and therefore also generated record full-year results in revenue of $793 million, or 4.6% growth, and an adjusted earnings per diluted share of $7.01, or 12.9 percent growth, and an adjusted EBITDA of $200 million, representing a robust 14.9 percent growth. For the full year, our adjusted EBITDA margin expanded by 220 basis points. We continued to deliver strong cash flow from the operations despite being in a quarter where we typically are building inventory for the start of the summer season, with a fiscal fourth quarter cash flow from operations of more than $22 million. Our gross profit margin has expanded this year primarily due to increased volumes, pricing initiatives, and reduced ocean and domestic freight in the first few quarters of the year. CSWI has achieved meaningful operating leverage and further expanded our best-in-class margins. We have invested in future growth that will outpace the markets we serve. In line with our capital allocation strategy of prioritizing capital investments based on their expected risk-adjusted returns, this year the company invested in capital expenditures, acquisitions, and returned cash to shareholders through dividends and share repurchases. We continue to seek both organic and inorganic investments and opportunities for growth with attractive returns that support our healthy margins. To fund our capital allocation strategy, we relied on our record cash flow from operations of 164 million, or 35 percent growth, during the full fiscal year of 2024. Our impressive cash flow allowed the company to again increase its most recent quarterly cash dividend that was paid on May 10th by 10.5%, making the 21st consecutive regular quarterly cash dividend. During the full fiscal year, the outstanding debt on our revolving credit facility decreased by $87 million as we paid down debt with our excess cash flow. Having balance sheet strength and robust cash flow gives us confidence to pursue business opportunities of any size. I am proud of the execution by each of our three business segments during the last quarter of the fiscal year. I will let James provide additional details around the performance of each segment during the quarter. But before I turn the call over to James, I would like to take a moment to thank our team for delivering top-line growth in every segment for the full fiscal year of 2024. Last year at this time, on our Q4 and year-end earnings call for fiscal 2023, we said we expected top-line growth in each business. And our teams have executed and delivered exactly that through volume and pricing during a year when some of our end markets were simply not growing. The resilience of our teams, the end markets we serve, and the enduring value of our products allow CSWI to continue to grow through the cycles in the overall market. Our model to deliver low-cost and high-value products to our customers continues to attract new customers for the company and allows us to report record financial results like we have today. At this time, I'll turn the call over to James for a closer look at our results, and then I will conclude our prepared remarks.