RPM International Q3 Adj. Profit Rises - Quick Facts

(RTTNews) - RPM International Inc. (RPM) reported that its third quarter adjusted earnings per share increased 76.9% year-on-year to $0.23. On average, 12 analysts polled by Thomson Reuters expected the company to report profit per share of $0.21, for the quarter. Analysts' estimates typically exclude special items. Adjusted EBIT was up 30.4% to $60.5 million.

Third-quarter net sales were $1.17 billion, an increase of 2.9% from prior year. Analysts expected revenue of $1.18 billion for the quarter.

The company currently projects fourth-quarter revenue will be down 10% to 15% year over year. Given the uncertainties, the company has decided to withdraw its prior earnings guidance for the fourth quarter and fiscal 2020.

RPM chairman and CEO Frank Sullivan said: "We are taking actions to adjust our business activities during this period of uncertainty and are well-positioned with a strong balance sheet and $1.14 billion in liquidity."