CSW Industrials' stock plummeted 6.65% during pre-market trading on Thursday, following the release of its fiscal third-quarter financial results.
The sharp decline came after the company reported adjusted earnings of $1.42 per diluted share for the quarter, falling significantly short of the analyst consensus estimate of $1.93. Quarterly revenue reached $233 million, which also missed the expected $249.1 million. While revenue showed a 20.3% increase compared to the same period last year, the substantial miss on both earnings and sales targets disappointed investors.
Analysts polled by FactSet had anticipated stronger performance, leading to the negative market reaction as the results failed to meet Wall Street's expectations for the quarter.