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8-K - 8-K - CSW INDUSTRIALS, INC. | cswi-20210804.htm |
Exhibit 99.1
CSW Industrials, Inc.
Segment Financial Information
(unaudited)
I.GAAP Segment Operating Income - Continuing Operations
Three months ended June 30, 2020
(in thousands) | Contractor Solutions | Engineered Building Solutions | Specialized Reliability Solutions | Subtotal - Reportable Segments | Elimination and Others | Total | ||||||||||||||||||||||||||||||||
Revenues, net | $ | 49,826 | $ | 22,154 | $ | 18,984 | $ | 90,964 | $ | — | $ | 90,964 | ||||||||||||||||||||||||||
Intersegment revenue | 58 | — | 14 | 72 | (72) | — | ||||||||||||||||||||||||||||||||
Operating income (loss), continuing operations | 15,908 | 4,038 | 307 | 20,253 | (4,000) | 16,253 | ||||||||||||||||||||||||||||||||
Operating income (loss) margin | 31.9% | 18.2% | 1.6% | 22.2% | NA | 17.9% |
Three months ended September 30, 2020
(in thousands) | Contractor Solutions | Engineered Building Solutions | Specialized Reliability Solutions | Subtotal - Reportable Segments | Elimination and Others | Total | ||||||||||||||||||||||||||||||||
Revenues, net | $ | 63,244 | $ | 23,696 | $ | 18,000 | $ | 104,940 | $ | — | $ | 104,940 | ||||||||||||||||||||||||||
Intersegment revenue | 128 | — | 15 | 143 | (143) | — | ||||||||||||||||||||||||||||||||
Operating income (loss), continuing operations | 21,651 | 3,531 | 360 | 25,542 | (3,362) | 22,180 | ||||||||||||||||||||||||||||||||
Operating income (loss) margin | 34.2% | 14.9% | 2.0% | 24.3% | NA | 21.1% |
Three months ended December 31, 2020
(in thousands) | Contractor Solutions | Engineered Building Solutions | Specialized Reliability Solutions | Subtotal - Reportable Segments | Elimination and Others | Total | ||||||||||||||||||||||||||||||||
Revenues, net | $ | 44,377 | $ | 25,700 | $ | 19,855 | $ | 89,932 | $ | — | $ | 89,932 | ||||||||||||||||||||||||||
Intersegment revenue | 62 | — | 19 | 81 | (81) | — | ||||||||||||||||||||||||||||||||
Operating income (loss), continuing operations | 2,900 | 4,194 | 619 | 7,713 | (3,597) | 4,116 | ||||||||||||||||||||||||||||||||
Operating income (loss) margin | 6.5% | 16.3% | 3.1% | 8.6% | NA | 4.6% |
Three months ended March 31, 2021
(in thousands) | Contractor Solutions | Engineered Building Solutions | Specialized Reliability Solutions | Subtotal - Reportable Segments | Elimination and Others | Total | ||||||||||||||||||||||||||||||||
Revenues, net | $ | 87,785 | $ | 24,123 | $ | 21,461 | $ | 133,369 | $ | — | $ | 133,369 | ||||||||||||||||||||||||||
Intersegment revenue | 49 | — | 16 | 65 | (65) | — | ||||||||||||||||||||||||||||||||
Operating income (loss), continuing operations | 18,670 | 2,303 | (578) | 20,395 | (3,476) | 16,919 | ||||||||||||||||||||||||||||||||
Operating income (loss) margin | 21.3% | 9.5% | (2.7)% | 15.3% | NA | 12.7% |
Three months ended June 30, 2019
(in thousands) | Contractor Solutions | Engineered Building Solutions | Specialized Reliability Solutions | Subtotal - Reportable Segments | Elimination and Others | Total | ||||||||||||||||||||||||||||||||
Revenues, net | $ | 54,168 | $ | 21,293 | $ | 26,872 | $ | 102,333 | $ | — | $ | 102,333 | ||||||||||||||||||||||||||
Intersegment revenue | 87 | — | 9 | 96 | (96) | — | ||||||||||||||||||||||||||||||||
Operating income (loss), continuing operations | 19,468 | 2,513 | 1,683 | 23,664 | (3,343) | 20,321 | ||||||||||||||||||||||||||||||||
Operating income (loss) margin | 35.9% | 11.8% | 6.3% | 23.1% | NA | 19.9% |
1
Exhibit 99.1
Three months ended September 30, 2019
(in thousands) | Contractor Solutions | Engineered Building Solutions | Specialized Reliability Solutions | Subtotal - Reportable Segments | Elimination and Others | Total | ||||||||||||||||||||||||||||||||
Revenues, net | $ | 50,237 | $ | 24,141 | $ | 26,946 | $ | 101,324 | $ | — | $ | 101,324 | ||||||||||||||||||||||||||
Intersegment revenue | 74 | — | 28 | 102 | (102) | — | ||||||||||||||||||||||||||||||||
Operating income (loss), continuing operations | 16,867 | 4,217 | 2,472 | 23,556 | (3,434) | 20,122 | ||||||||||||||||||||||||||||||||
Operating income (loss) margin | 33.5% | 17.5% | 9.2% | 23.2% | NA | 19.9% |
Three months ended December 31, 2019
(in thousands) | Contractor Solutions | Engineered Building Solutions | Specialized Reliability Solutions | Subtotal - Reportable Segments | Elimination and Others | Total | ||||||||||||||||||||||||||||||||
Revenues, net | $ | 36,205 | $ | 21,928 | $ | 25,583 | $ | 83,716 | $ | — | $ | 83,716 | ||||||||||||||||||||||||||
Intersegment revenue | 45 | — | 17 | 62 | (62) | — | ||||||||||||||||||||||||||||||||
Operating income (loss), continuing operations | 8,672 | 3,333 | 2,052 | 14,057 | (3,569) | 10,488 | ||||||||||||||||||||||||||||||||
Operating income (loss) margin | 23.9% | 15.2% | 8.0% | 16.8% | NA | 12.5% |
Three months ended March 31, 2020
(in thousands) | Contractor Solutions | Engineered Building Solutions | Specialized Reliability Solutions | Subtotal - Reportable Segments | Elimination and Others | Total | ||||||||||||||||||||||||||||||||
Revenues, net | $ | 49,810 | $ | 23,519 | $ | 25,169 | $ | 98,498 | $ | — | $ | 98,498 | ||||||||||||||||||||||||||
Intersegment revenue | 69 | — | 18 | 87 | (87) | — | ||||||||||||||||||||||||||||||||
Operating income (loss), continuing operations | 13,327 | 4,214 | 1,598 | 19,139 | (4,003) | 15,136 | ||||||||||||||||||||||||||||||||
Operating income (loss) margin | 26.7% | 17.9% | 6.3% | 19.4% | NA | 15.4% |
2
Exhibit 99.1
II. Reconciliation of Segment Operating Income to Adjusted Segment Operating Income - Continuing Operations
Three months ended June 30, 2020
(in thousands) | Contractor Solutions | Engineered Building Solutions | Specialized Reliability Solutions | Corporate and Other | Consolidated Continuing Operations | |||||||||||||||||||||||||||
Revenue | $ | 49,884 | $ | 22,154 | $ | 18,998 | $ | (72) | $ | 90,964 | ||||||||||||||||||||||
Operating income (loss), continuing operations | $ | 15,908 | $ | 4,038 | $ | 307 | $ | (4,000) | $ | 16,253 | ||||||||||||||||||||||
Adjusting items | ||||||||||||||||||||||||||||||||
Transaction costs & other professional fees | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||
Purchase accounting effect | — | — | — | — | — | |||||||||||||||||||||||||||
Loss (gain) on sale of property & other | — | — | — | — | — | |||||||||||||||||||||||||||
Asset impairment | — | — | — | — | — | |||||||||||||||||||||||||||
Adjusted operating income (loss), continuing operations | $ | 15,908 | $ | 4,038 | $ | 307 | $ | (4,000) | $ | 16,253 | ||||||||||||||||||||||
Adjusted operating income (loss) margin | 31.9 | % | 18.2 | % | 1.6 | % | NA | 17.9 | % |
Three months ended September 30, 2020
(in thousands) | Contractor Solutions | Engineered Building Solutions | Specialized Reliability Solutions | Corporate and Other | Consolidated Continuing Operations | |||||||||||||||||||||||||||
Revenue | $ | 63,372 | $ | 23,696 | $ | 18,015 | $ | (143) | $ | 104,940 | ||||||||||||||||||||||
Operating income (loss), continuing operations | $ | 21,651 | $ | 3,531 | $ | 360 | $ | (3,362) | $ | 22,180 | ||||||||||||||||||||||
Adjusting items | ||||||||||||||||||||||||||||||||
Transaction costs & other professional fees | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||
Purchase accounting effect | — | — | — | — | — | |||||||||||||||||||||||||||
Loss (gain) on sale of property & other | — | — | — | — | — | |||||||||||||||||||||||||||
Asset impairment | — | — | — | — | — | |||||||||||||||||||||||||||
Adjusted operating income (loss), continuing operations | $ | 21,651 | $ | 3,531 | $ | 360 | $ | (3,362) | $ | 22,180 | ||||||||||||||||||||||
Adjusted operating income (loss) margin | 34.2 | % | 14.9 | % | 2.0 | % | NA | 21.1 | % |
Three months ended December 31, 2020
(in thousands) | Contractor Solutions | Engineered Building Solutions | Specialized Reliability Solutions | Corporate and Other | Consolidated Continuing Operations | |||||||||||||||||||||||||||
Revenue | $ | 44,439 | $ | 25,700 | $ | 19,874 | $ | (81) | $ | 89,932 | ||||||||||||||||||||||
Operating income (loss), continuing operations | $ | 2,900 | $ | 4,194 | $ | 619 | $ | (3,597) | $ | 4,116 | ||||||||||||||||||||||
Adjusting items | ||||||||||||||||||||||||||||||||
Transaction costs & other professional fees | $ | 6,919 | $ | — | $ | 1,041 | $ | — | $ | 7,960 | ||||||||||||||||||||||
Purchase accounting effect | — | — | — | — | — | |||||||||||||||||||||||||||
Loss (gain) on sale of property & other | — | — | — | — | — | |||||||||||||||||||||||||||
Asset impairment | — | — | — | — | — | |||||||||||||||||||||||||||
Adjusted operating income (loss), continuing operations | $ | 9,819 | $ | 4,194 | $ | 1,660 | $ | (3,597) | $ | 12,076 | ||||||||||||||||||||||
Adjusted operating income (loss) margin | 22.1 | % | 16.3 | % | 8.4 | % | NA | 13.4 | % |
3
Exhibit 99.1
Three months ended March 31, 2021
(in thousands) | Contractor Solutions | Engineered Building Solutions | Specialized Reliability Solutions | Corporate and Other | Consolidated Continuing Operations | |||||||||||||||||||||||||||
Revenue | $ | 87,834 | $ | 24,123 | $ | 21,477 | $ | (65) | $ | 133,369 | ||||||||||||||||||||||
Operating income (loss), continuing operations | $ | 18,670 | $ | 2,303 | $ | (578) | $ | (3,476) | $ | 16,919 | ||||||||||||||||||||||
Adjusting items | ||||||||||||||||||||||||||||||||
Transaction costs & other professional fees | $ | 844 | $ | — | $ | 1,556 | $ | — | $ | 2,400 | ||||||||||||||||||||||
Purchase accounting effect | 2,963 | — | — | — | 2,963 | |||||||||||||||||||||||||||
Loss (gain) on sale of property & other | — | — | — | — | — | |||||||||||||||||||||||||||
Asset impairment | — | — | — | — | — | |||||||||||||||||||||||||||
Adjusted operating income (loss), continuing operations | $ | 22,477 | $ | 2,303 | $ | 978 | $ | (3,476) | $ | 22,282 | ||||||||||||||||||||||
Adjusted operating income (loss) margin | 25.6 | % | 9.5 | % | 4.6 | % | NA | 16.7 | % |
Three months ended June 30, 2019
(in thousands) | Contractor Solutions | Engineered Building Solutions | Specialized Reliability Solutions | Corporate and Other | Consolidated Continuing Operations | |||||||||||||||||||||||||||
Revenue | $ | 54,255 | $ | 21,293 | $ | 26,881 | $ | (96) | $ | 102,333 | ||||||||||||||||||||||
Operating income (loss), continuing operations | $ | 19,468 | $ | 2,513 | $ | 1,683 | $ | (3,343) | $ | 20,321 | ||||||||||||||||||||||
Adjusting items | ||||||||||||||||||||||||||||||||
Transaction costs & other professional fees | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||
Purchase accounting effect | — | — | — | — | — | |||||||||||||||||||||||||||
Loss (gain) on sale of property & other | — | — | — | — | — | |||||||||||||||||||||||||||
Asset impairment | — | — | — | — | — | |||||||||||||||||||||||||||
Adjusted operating income (loss), continuing operations | $ | 19,468 | $ | 2,513 | $ | 1,683 | $ | (3,343) | $ | 20,321 | ||||||||||||||||||||||
Adjusted operating income (loss) margin | 35.9 | % | 11.8 | % | 6.3 | % | NA | 19.9 | % |
Three months ended September 30, 2019
(in thousands) | Contractor Solutions | Engineered Building Solutions | Specialized Reliability Solutions | Corporate and Other | Consolidated Continuing Operations | |||||||||||||||||||||||||||
Revenue | $ | 50,311 | $ | 24,141 | $ | 26,974 | $ | (102) | $ | 101,324 | ||||||||||||||||||||||
Operating income (loss), continuing operations | $ | 16,867 | $ | 4,217 | $ | 2,472 | $ | (3,434) | $ | 20,122 | ||||||||||||||||||||||
Adjusting items | ||||||||||||||||||||||||||||||||
Transaction costs & other professional fees | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||
Purchase accounting effect | — | — | — | — | — | |||||||||||||||||||||||||||
Loss (gain) on sale of property & other | — | — | (776) | — | (776) | |||||||||||||||||||||||||||
Asset impairment | — | — | — | — | — | |||||||||||||||||||||||||||
Adjusted operating income (loss), continuing operations | $ | 16,867 | $ | 4,217 | $ | 1,696 | $ | (3,434) | $ | 19,346 | ||||||||||||||||||||||
Adjusted operating income (loss) margin | 33.5 | % | 17.5 | % | 6.3 | % | NA | 19.1 | % |
4
Exhibit 99.1
Three months ended December 31, 2019
(in thousands) | Contractor Solutions | Engineered Building Solutions | Specialized Reliability Solutions | Corporate and Other | Consolidated Continuing Operations | |||||||||||||||||||||||||||
Revenue | $ | 36,250 | $ | 21,928 | $ | 25,600 | $ | (62) | $ | 83,716 | ||||||||||||||||||||||
Operating income (loss), continuing operations | $ | 8,672 | $ | 3,333 | $ | 2,052 | $ | (3,569) | $ | 10,488 | ||||||||||||||||||||||
Adjusting items | ||||||||||||||||||||||||||||||||
Transaction costs & other professional fees | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||
Purchase accounting effect | — | — | — | — | — | |||||||||||||||||||||||||||
Loss (gain) on sale of property & other | — | — | — | — | — | |||||||||||||||||||||||||||
Asset impairment | — | — | — | — | — | |||||||||||||||||||||||||||
Adjusted operating income (loss), continuing operations | $ | 8,672 | $ | 3,333 | $ | 2,052 | $ | (3,569) | $ | 10,488 | ||||||||||||||||||||||
Adjusted operating income (loss) margin | 23.9 | % | 15.2 | % | 8.0 | % | NA | 12.5 | % |
Three months ended March 31, 2020
(in thousands) | Contractor Solutions | Engineered Building Solutions | Specialized Reliability Solutions | Corporate and Other | Consolidated Continuing Operations | |||||||||||||||||||||||||||
Revenue | $ | 49,879 | $ | 23,519 | $ | 25,187 | $ | (87) | $ | 98,498 | ||||||||||||||||||||||
Operating income (loss), continuing operations | $ | 13,327 | $ | 4,214 | $ | 1,598 | $ | (4,003) | $ | 15,136 | ||||||||||||||||||||||
Adjusting items | ||||||||||||||||||||||||||||||||
Transaction costs & other professional fees | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||
Purchase accounting effect | — | — | — | — | — | |||||||||||||||||||||||||||
Loss (gain) on sale of property & other | — | — | — | 200 | 200 | |||||||||||||||||||||||||||
Asset impairment | 951 | — | — | — | 951 | |||||||||||||||||||||||||||
Adjusted operating income (loss), continuing operations | $ | 14,278 | $ | 4,214 | $ | 1,598 | $ | (3,803) | $ | 16,287 | ||||||||||||||||||||||
Adjusted operating income (loss) margin | 28.6 | % | 17.9 | % | 6.3 | % | NA | 16.5 | % |
5
Exhibit 99.1
III. Reconciliation of Segment Operating Income to Adjusted Segment Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) - Continuing Operations
Three months ended June 30, 2020
(in thousands) | Contractor Solutions | Engineered Building Solutions | Specialized Reliability Solutions | Corporate and Other | Consolidated Continuing Operations | |||||||||||||||||||||||||||
GAAP operating income (loss), continuing operations | $ | 15,908 | $ | 4,038 | $ | 307 | $ | (4,000) | $ | 16,253 | ||||||||||||||||||||||
Other income (expense) | (25) | (320) | 120 | (82) | (307) | |||||||||||||||||||||||||||
Depreciation & amortization | 1,444 | 513 | 1,437 | 134 | 3,528 | |||||||||||||||||||||||||||
EBITDA, continuing operations | $ | 17,327 | $ | 4,231 | $ | 1,864 | $ | (3,948) | $ | 19,474 | ||||||||||||||||||||||
Adjusting items: | ||||||||||||||||||||||||||||||||
Transaction expenses | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||
Reversal of indemnification receivable | — | — | — | — | — | |||||||||||||||||||||||||||
Asset impairment | — | — | — | — | — | |||||||||||||||||||||||||||
Pension termination | — | — | — | — | — | |||||||||||||||||||||||||||
Loss (gain) on property sale and others | — | — | — | — | — | |||||||||||||||||||||||||||
Adjusted EBITDA, continuing operations | $ | 17,327 | $ | 4,231 | $ | 1,864 | $ | (3,948) | $ | 19,474 | ||||||||||||||||||||||
Adjusted EBITDA margin | 34.7 | % | 19.1 | % | 9.8 | % | NA | 21.4 | % |
Three months ended September 30, 2020
(in thousands) | Contractor Solutions | Engineered Building Solutions | Specialized Reliability Solutions | Corporate and Other | Consolidated Continuing Operations | |||||||||||||||||||||||||||
GAAP operating income (loss), continuing operations | $ | 21,651 | $ | 3,531 | $ | 360 | $ | (3,362) | $ | 22,180 | ||||||||||||||||||||||
Other income (expense) | (26) | (199) | (52) | (83) | (360) | |||||||||||||||||||||||||||
Depreciation & amortization | 1,455 | 525 | 1,427 | 134 | 3,541 | |||||||||||||||||||||||||||
EBITDA, continuing operations | $ | 23,080 | $ | 3,857 | $ | 1,735 | $ | (3,311) | $ | 25,361 | ||||||||||||||||||||||
Adjusting items: | ||||||||||||||||||||||||||||||||
Transaction expenses | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||
Reversal of indemnification receivable | — | — | — | — | — | |||||||||||||||||||||||||||
Asset impairment | — | — | — | — | — | |||||||||||||||||||||||||||
Pension termination | — | — | — | — | — | |||||||||||||||||||||||||||
Loss (gain) on property sale and others | — | — | — | — | — | |||||||||||||||||||||||||||
Adjusted EBITDA, continuing operations | $ | 23,080 | $ | 3,857 | $ | 1,735 | $ | (3,311) | $ | 25,361 | ||||||||||||||||||||||
Adjusted EBITDA margin | 36.4 | % | 16.3 | % | 9.6 | % | NA | 24.2 | % |
Three months ended December 31, 2020
(in thousands) | Contractor Solutions | Engineered Building Solutions | Specialized Reliability Solutions | Corporate and Other | Consolidated Continuing Operations | |||||||||||||||||||||||||||
GAAP operating income (loss), continuing operations | $ | 2,900 | $ | 4,194 | $ | 619 | $ | (3,597) | $ | 4,116 | ||||||||||||||||||||||
Other income (expense) | 98 | (430) | (128) | (132) | (592) | |||||||||||||||||||||||||||
Depreciation & amortization | 2,345 | 472 | 1,439 | 136 | 4,392 | |||||||||||||||||||||||||||
EBITDA, continuing operations | $ | 5,343 | $ | 4,236 | $ | 1,930 | $ | (3,593) | $ | 7,916 | ||||||||||||||||||||||
Adjusting items: | ||||||||||||||||||||||||||||||||
Transaction expenses | $ | 6,919 | $ | — | $ | 1,041 | $ | — | $ | 7,960 | ||||||||||||||||||||||
Reversal of indemnification receivable | — | — | — | — | — | |||||||||||||||||||||||||||
Asset impairment | — | — | — | — | — | |||||||||||||||||||||||||||
Pension termination | — | — | — | — | — | |||||||||||||||||||||||||||
Loss (gain) on property sale and others | — | — | — | — | — | |||||||||||||||||||||||||||
Adjusted EBITDA, continuing operations | $ | 12,262 | $ | 4,236 | $ | 2,971 | $ | (3,593) | $ | 15,876 | ||||||||||||||||||||||
Adjusted EBITDA margin | 27.6 | % | 16.5 | % | 14.9 | % | NA | 17.7 | % |
6
Exhibit 99.1
Three months ended March 31, 2021
(in thousands) | Contractor Solutions | Engineered Building Solutions | Specialized Reliability Solutions | Corporate and Other | Consolidated Continuing Operations | |||||||||||||||||||||||||||
GAAP operating income (loss), continuing operations | $ | 18,670 | $ | 2,303 | $ | (578) | $ | (3,476) | $ | 16,919 | ||||||||||||||||||||||
Other income (expense) | (4,784) | (195) | 39 | 230 | (4,710) | |||||||||||||||||||||||||||
Depreciation & amortization | 9,171 | 503 | 1,442 | 141 | 11,257 | |||||||||||||||||||||||||||
EBITDA, continuing operations | $ | 23,057 | $ | 2,611 | $ | 903 | $ | (3,105) | $ | 23,466 | ||||||||||||||||||||||
Adjusting items: | ||||||||||||||||||||||||||||||||
Transaction expenses | $ | 844 | $ | — | $ | 1,556 | $ | — | $ | 2,400 | ||||||||||||||||||||||
Reversal of indemnification receivable | 5,000 | — | — | — | 5,000 | |||||||||||||||||||||||||||
Asset impairment | — | — | — | — | — | |||||||||||||||||||||||||||
Pension termination | — | — | — | — | — | |||||||||||||||||||||||||||
Loss (gain) on property sale and others | — | — | — | — | — | |||||||||||||||||||||||||||
Adjusted EBITDA, continuing operations | $ | 28,901 | $ | 2,611 | $ | 2,459 | $ | (3,105) | $ | 30,866 | ||||||||||||||||||||||
Adjusted EBITDA margin | 32.9 | % | 10.8 | % | 11.4 | % | NA | 23.1 | % |
Three months ended June 30, 2019
(in thousands) | Contractor Solutions | Engineered Building Solutions | Specialized Reliability Solutions | Corporate and Other | Consolidated Continuing Operations | |||||||||||||||||||||||||||
GAAP operating income (loss), continuing operations | $ | 19,468 | $ | 2,513 | $ | 1,683 | $ | (3,343) | $ | 20,321 | ||||||||||||||||||||||
Other income (expense) | (175) | (181) | 200 | 69 | (87) | |||||||||||||||||||||||||||
Depreciation & amortization | 1,494 | 528 | 1,873 | 121 | 4,016 | |||||||||||||||||||||||||||
EBITDA, continuing operations | $ | 20,787 | $ | 2,860 | $ | 3,756 | $ | (3,153) | $ | 24,250 | ||||||||||||||||||||||
Adjusting items: | ||||||||||||||||||||||||||||||||
Transaction expenses | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||
Asset impairment | — | — | — | — | — | |||||||||||||||||||||||||||
Pension termination | — | — | — | — | — | |||||||||||||||||||||||||||
Loss (gain) on property sale and others | — | — | — | — | — | |||||||||||||||||||||||||||
Adjusted EBITDA, continuing operations | $ | 20,787 | $ | 2,860 | $ | 3,756 | $ | (3,153) | $ | 24,250 | ||||||||||||||||||||||
Adjusted EBITDA margin | 38.3 | % | 13.4 | % | 14.0 | % | NA | 23.7 | % |
Three months ended September 30, 2019
(in thousands) | Contractor Solutions | Engineered Building Solutions | Specialized Reliability Solutions | Corporate and Other | Consolidated Continuing Operations | |||||||||||||||||||||||||||
GAAP operating income (loss), continuing operations | $ | 16,867 | $ | 4,217 | $ | 2,472 | $ | (3,434) | $ | 20,122 | ||||||||||||||||||||||
Other income (expense) | (178) | 9 | (43) | (7,155) | (7,367) | |||||||||||||||||||||||||||
Depreciation & amortization | 1,450 | 534 | 1,432 | 119 | 3,535 | |||||||||||||||||||||||||||
EBITDA, continuing operations | $ | 18,139 | $ | 4,760 | $ | 3,861 | $ | (10,470) | $ | 16,290 | ||||||||||||||||||||||
Adjusting items: | ||||||||||||||||||||||||||||||||
Transaction expenses | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||
Asset impairment | — | — | — | — | — | |||||||||||||||||||||||||||
Pension termination | — | — | — | 7,019 | 7,019 | |||||||||||||||||||||||||||
Loss (gain) on property sale and others | — | — | (776) | — | (776) | |||||||||||||||||||||||||||
Adjusted EBITDA, continuing operations | $ | 18,139 | $ | 4,760 | $ | 3,085 | $ | (3,451) | $ | 22,533 | ||||||||||||||||||||||
Adjusted EBITDA margin | 36.1 | % | 19.7 | % | 11.4 | % | NA | 22.2 | % |
7
Exhibit 99.1
Three months ended December 31, 2019
(in thousands) | Contractor Solutions | Engineered Building Solutions | Specialized Reliability Solutions | Corporate and Other | Consolidated Continuing Operations | |||||||||||||||||||||||||||
GAAP operating income (loss), continuing operations | $ | 8,672 | $ | 3,333 | $ | 2,052 | $ | (3,569) | $ | 10,488 | ||||||||||||||||||||||
Other income (expense) | (502) | (175) | (178) | 7 | (848) | |||||||||||||||||||||||||||
Depreciation & amortization | 1,434 | 504 | 1,440 | 120 | 3,498 | |||||||||||||||||||||||||||
EBITDA, continuing operations | $ | 9,604 | $ | 3,662 | $ | 3,314 | $ | (3,442) | $ | 13,138 | ||||||||||||||||||||||
Adjusting items: | ||||||||||||||||||||||||||||||||
Transaction expenses | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||
Asset impairment | — | — | — | — | — | |||||||||||||||||||||||||||
Pension termination | — | — | — | — | — | |||||||||||||||||||||||||||
Loss (gain) on property sale and others | 476 | — | — | — | 476 | |||||||||||||||||||||||||||
Adjusted EBITDA, continuing operations | $ | 10,080 | $ | 3,662 | $ | 3,314 | $ | (3,442) | $ | 13,614 | ||||||||||||||||||||||
Adjusted EBITDA margin | 27.8 | % | 16.7 | % | 12.9 | % | NA | 16.3 | % |
Three months ended March 31, 2020
(in thousands) | Contractor Solutions | Engineered Building Solutions | Specialized Reliability Solutions | Corporate and Other | Consolidated Continuing Operations | |||||||||||||||||||||||||||
GAAP operating income (loss), continuing operations | $ | 13,327 | $ | 4,214 | $ | 1,598 | $ | (4,003) | $ | 15,136 | ||||||||||||||||||||||
Other income (expense) | (5) | 550 | 337 | 285 | 1,167 | |||||||||||||||||||||||||||
Depreciation & amortization | 1,510 | 507 | 1,435 | 134 | 3,586 | |||||||||||||||||||||||||||
EBITDA, continuing operations | $ | 14,832 | $ | 5,271 | $ | 3,370 | $ | (3,584) | $ | 19,889 | ||||||||||||||||||||||
Adjusting items: | ||||||||||||||||||||||||||||||||
Transaction expenses | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||
Asset impairment | 951 | — | — | — | 951 | |||||||||||||||||||||||||||
Pension termination | — | — | — | (531) | (531) | |||||||||||||||||||||||||||
Loss (gain) on property sale and others | — | — | — | 200 | 200 | |||||||||||||||||||||||||||
Adjusted EBITDA, continuing operations | $ | 15,783 | $ | 5,271 | $ | 3,370 | $ | (3,915) | $ | 20,509 | ||||||||||||||||||||||
Adjusted EBITDA margin | 31.6 | % | 22.4 | % | 13.4 | % | NA | 20.8 | % |
8