RPM Earns 14 Cents Per Share

This morning, RPM Inc. (RPM) reported fiscal third quarter earnings of 14 cents per share. This was for the quarter that ended on February 28. Wall Street had been expecting earnings of 11 cents per share.

This is a bit unusual because only a very small portion of RPM’s annual profit comes during their fiscal Q3. The company expects full-year earnings to range between $2.57 and $2.67 per share. That’s a reduction of five cents per share from their previous forecast due to “combined third quarter charges for the Restore intangible impairment and the European facility closure.”

Quarterly revenue rose to $1.02 billion which was just shy of estimates of $1.04 billion.

“Our businesses serving the U.S. commercial construction market again experienced solid organic growth. Most businesses in Europe were up in the low- to mid-single-digit range in local currencies and current-year acquisitions contributed nicely to the segment’s overall sales growth. We were very pleased with the strong EBIT leverage achieved on solid top-line sales,” stated Sullivan.

Posted by on April 6th, 2017 at 12:03 pm


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