RPM Q2 Profit Rises, Meets Estimates; Sees Higher Sales In Q3

(RTTNews) - RPM International, Inc. (RPM), a provider of specialty coatings, sealants and building materials, reported Thursday that its second-quarter net income attributable to stockholders grew 5.2 percent to $131.34 million from last year's $124.88 million.

Earnings per share were $1.02, up 6.3 percent from prior year's $0.96. Adjusted earnings per share were $1.10, compared to $0.79 last year. On average, 13 analysts polled by Thomson Reuters expected earnings of $1.10 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter grew 9.3 percent to $1.79 billion from last year's $1.64 billion. Analysts estimated net sales of $1.81 billion for the quarter.

Looking ahead for the third quarter, the company expects consolidated sales to increase in the low-single-digit to mid-single-digit percentage range compared to prior-year results.

Consolidated adjusted EBIT will be between $75 million and $85 million, compared to $80.6 million in the fiscal year 2022 third quarter.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com