RPM International Earns $1.24 per Share

Good news for RPM International (RPM). The company made $1.24 per share for its fiscal Q4. That was 10 cents more than estimates.

“We are very pleased with our significant earnings leverage for the quarter, which was bolstered by our 2020 MAP to Growth operating improvement plan, the benefits of which are beginning to be realized. Also contributing to the bottom line were recently implemented price increases and stabilizing raw material cost inflation. These gains were partially offset by continuing increases in costs for distribution and labor,” stated RPM chairman and CEO Frank C. Sullivan.

“Sales grew organically by 3.5%, while acquisitions contributed 1.9%. This sales growth was offset by unfavorable foreign exchange of 2.6%. Sales in North America, our largest market, were slowed by some of the wettest spring months on record, which caused delays in painting and construction projects. In addition, conditions in Europe, our second largest market, remained soft. Despite these challenges, our operating units were able to drive top-line growth and gain market share,” stated Sullivan.

This was a very good quarter for RPM. Net sales rose by 2.8% to $1.6 billion. The company also sees 2020 earnings of $3.30 to $3.42 per share.

Posted by on July 22nd, 2019 at 9:11 am


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