RPM International (RPM) Misses Q2 EPS by 1c; offers outlook

RPM International (NYSE: RPM) reported Q2 EPS of $1.22, $0.01 worse than the analyst estimate of $1.23. Revenue for the quarter came in at $1.79 billion versus the consensus estimate of $1.84 billion.

OUTLOOK:

The company expects the following in the fiscal 2024 third quarter:

Consolidated sales to be flat compared to prior-year record results.
CPG sales to increase in the mid-single-digit percentage range compared to prior-year record results.
PCG sales to increase in the mid-single-digit percentage range compared to prior-year record results.
SPG sales to decrease in the mid-teen percentage range compared to prior-year record results.
Consumer Group sales to decrease in the low-single-digit percentage range compared to prior-year record results.
Consolidated adjusted EBIT to increase 25% to 35% compared to prior-year record results.

The company expects the following in the full-year fiscal 2024:

Consolidated sales to increase in the low-single-digit percentage range compared to prior-year record results. The previous outlook was for mid-single-digit percentage growth.
Consolidated adjusted EBIT to increase in the low-double-digit to mid-teen percentage range compared to prior-year record results. This outlook is unchanged from the prior outlook.

For earnings history and earnings-related data on RPM International (RPM) click here.

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