RPM International (RPM) Misses Q2 EPS by 9c
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RPM International (NYSE: RPM) reported Q2 EPS of $0.52, $0.09 worse than the analyst estimate of $0.61. Revenue for the quarter came in at $1.19 billion versus the consensus estimate of $1.18 billion.
Sees FY17 EPS of $2.62-$2.72 versus the consensus of $2.74.
"We are pleased with the sales growth in the second quarter across each of our three segments in light of economic conditions and in comparison to our peer companies' recent performance. Even in our more global economically challenged industrial segment businesses, we are generating solid growth in local currencies. Translational and transactional foreign exchange challenges, previously communicated capacity issues in our consumer segment, and higher corporate benefit costs combined to generate lower year-over-year EBIT results, excluding the additional impairment charge and the decision to exit the Flowcrete business in the Middle East. Mid-year restructuring and expense reduction activities and the benefit of first-half acquisitions, along with having addressed the capacity situation at our DAP subsidiary, will allow revenue growth to be better leveraged to our bottom line during the fiscal 2017 fourth quarter and beyond," stated Frank C. Sullivan, chairman and chief executive officer.
For earnings history and earnings-related data on RPM International (RPM) click here.
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