RPM International Inc. reports developments tied to its specialty coatings, sealants, building materials and related services businesses. The company operates through consumer, construction products and performance coatings segments, with brands including Rust-Oleum, DAP, Zinsser, Varathane, The Pink Stuff, Stonhard, Carboline, Tremco, Euclid Chemical, Dryvit and Nudura.
Recurring RPM news covers fiscal-quarter and year-end results, segment sales and earnings, MAP operational improvement initiatives, facility and distribution transitions, acquired-business integration, product rationalization, dividends, and governance or leadership changes. Updates also describe demand trends across consumer, construction and industrial end markets and the company’s capital-return practices.
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RPM International reported a record net sales of $1.52 billion for the third quarter of fiscal 2023, reflecting a 5.7% increase year-over-year. Net income was $27.0 million with a diluted EPS of $0.21, while adjusted diluted EPS was $0.37. The company's adjusted EBIT reached a record $83.9 million, up 4.2% from the previous year. Despite the growth, RPM expects flat fourth-quarter sales due to economic uncertainties and a projected decline in adjusted EBIT. Key drivers included successful MAP 2025 initiatives and strong demand in infrastructure-related sectors. However, challenges such as inflation and inventory destocking were noted, impacting overall volumes.
RPM International Inc. (NYSE: RPM) announced a quarterly cash dividend of $0.42 per share, payable on April 28, 2023, for stockholders recorded as of April 13, 2023. This dividend represents the 49th consecutive year of increased cash dividends, placing RPM among the top less than 0.5% of U.S. publicly traded companies with such a record. RPM has returned approximately $3.2 billion in dividends over this period, with an annual dividend yield of 1.9% based on a share price of $87.00.
RPM International Inc. (NYSE: RPM) will announce its financial results for fiscal 2023's third quarter on April 6, 2023, before the market opens. The announcement will be available on the company's website. A conference call to discuss these results is scheduled for 10:00 a.m. Eastern Time the same day. Interested parties can join via webcast or by phone. A replay of the call will be accessible from April 6 to April 13, 2023. RPM operates in specialty coatings and related services, employing approximately 16,800 individuals globally, and is known for its leading brands like Rust-Oleum and DAP.
RPM International Inc. (NYSE: RPM) has formed a strategic academic partnership with Cleveland State University (CSU) to offer discounted graduate-level education in environmental studies. The program will launch in Fall 2023, providing opportunities for existing RPM professionals and CSU students. RPM will recruit internship and full-time candidates from CSU, establishing a pipeline for Environmental Health and Safety (EH&S) professionals. CSU is also developing three new online certificate programs in Environmental Management, Engineering, and Sustainability for RPM employees, enhancing the company's workforce development initiatives.