RPM International (NYSE:RPM) reported record fiscal fourth-quarter results, with management saying each of its three segments increased sales and adjusted EBIT despite inflation, supply chain disruption and continued softness in do-it-yourself consumer markets.
Chairman and Chief Executive Officer Frank Sullivan said the company’s Construction Products Group and Performance Coatings Group continued to lead growth by focusing on maintenance and restoration, higher-growth end markets and “system selling,” an approach that combines multiple RPM products into broader engineered solutions
Sullivan said the quarter marked the 16th time in the past 18 quarters that RPM achieved record adjusted EBIT results. – RPM International Thrives in Rate-Cut Driven Construction Rally “Our associates demonstrated their ability to adapt to increased global uncertainty, procure raw materials, continue implementing operational efficiency improvements, and serve customers with high-quality products and services,” Sullivan said. Construction and coatings businesses lead growth Michael Laroche, vice president, controller and chief accounting officer, said consolidated sales rose 7.2% to a record, driven by engineered solutions for high-performance buildings and infrastructure projects, acquisitions and pricing actions intended to offset inflation. Adjusted EBIT and adjusted EPS also reached records, according to Laroche. – RPM International Pulls Back Critical Levels; Is It Time To Buy?
Laroche said all international regions posted double-digit growth, led by emerging markets, while North American sales rose 5% on strength in turnkey and system solutions for high-performance buildings. Growth in Europe was driven by mergers and acquisitions, and foreign currency translation also helped sales in most countries outside the United States. Within the Construction Products Group, Laroche said sales reached a record on broad-based strength, led by the concrete admixtures business.