CSW Industrials, Inc. (NASDAQ:CSWI) Q2 2020 Earnings Conference Call - Final Transcript
Nov 05, 2019 • 10:00 am ET
Greetings. Welcome to the CSW Industrials, Inc. Second Quarter 2020 Earnings Conference Call. [Operator Instruction] I will now turn the conference over to your host, Adrianne Griffin. You may begin.
Adrianne D. Griffin
Thank you, Daryl. Good morning, everyone, and welcome to CSW Industrials fiscal second quarter 2020 earnings call. Joining me today are Joseph Armes, Chairman and Chief Executive Officer of CSW Industrials; and Gregg Branning, Chief Financial Officer. If you've not received the earnings release, it is available on our website at www.cswindustrials.com. This call is being recorded. A replay of today's call will be available and details on how to access the replay are in the earnings release.
During this call, we will be making 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 in today's earnings release and the comments made during this call and in the Risk Factors section of 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.
This call will also include an analysis of adjusted operating income, net income and earnings per share, which are non-GAAP financial measures of performance. These non-GAAP measures should be used as a supplement to and not a substitute for operating income, net income and earnings per share computed in accordance with GAAP. For a more complete discussion of adjusted operating income, net income and earnings per share, see our earnings release.
I will now turn the call over to our Chairman and Chief Executive Officer, Joe Armes.
Joseph B. Armes
Thank you, Adrianne. Good morning and thank you for joining our fiscal second quarter conference call. I want to start by welcoming Adrianne to our team as she is our Vice President of Investor Relations and Treasurer. We're pleased to have her in this newly created role, which is part of our leadership team and is a natural progression in our Company's growth. And I know she looks forward to meeting those of you listening to this call.
I will begin with a high level discussion of consolidated and segment level results followed by a review of our end markets and then wrapping up with an outlook on the remainder of the fiscal year. I will then hand the call off to Gregg for a closer look at the numbers.
Consolidated revenue for the second quarter of 2020 was $101.3 million, representing 10.6% total growth and 6.3% organic growth when compared to the prior year period. Both our Industrial Products and Specialty Chemicals segment continued to see healthy sales growth across end markets with some pressure observed in the general industrial end market.
Our second quarter adjusted earnings were $0.92 per diluted share, which marked an increase of 16.5% over the prior year period. This continued growth in earnings per share has been driven by operating leverage from increased sales and ongoing benefits from prior year's efficiency initiatives. Our capital