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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.
RPM International Inc (NYSE: RPM) released its 2022 Summary Annual Report today, unveiling its MAP 2025 operational initiative aimed at enhancing growth and efficiency. The plan, succeeding the 2020 MAP to Growth, sets ambitious targets, including $8.5 billion in annual revenue, a 42% gross margin, and a 16% adjusted EBIT margin by May 31, 2025. An Investor Day is scheduled for October 7, 2022, to elaborate on MAP 2025 and sustainability initiatives. Chairman and CEO Frank C. Sullivan emphasized that this plan builds on previous successes to strengthen the company.
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RPM International reported a strong fiscal 2022 fourth quarter, with net sales reaching a record $1.98 billion, a 13.7% increase year-over-year, and net income up 27.4% to $199 million. Diluted EPS also hit a record $1.54, reflecting an increase of 28.3%. Total EBIT rose 17.1% to $251.7 million. For the full fiscal year, sales increased 9.8% to $6.71 billion, but net income decreased by 2.2%. The outlook for fiscal 2023 suggests mid-teens sales growth and a 20-25% increase in adjusted EBIT for the first quarter.
RPM International Inc. (NYSE: RPM) announced updated dial-in information for its fiscal 2022 fourth-quarter earnings call on July 25, 2022, at 10:00 a.m. EDT. The call will be accessible via phone and webcast, lasting approximately one hour. A replay will be available from 1:00 p.m. EDT on the same day until August 1, 2022. RPM operates in specialty coatings and building materials, employing around 16,800 individuals worldwide and owning renowned brands including Rust-Oleum and DAP.
RPM International Inc. has appointed Bryan R. Gillette as vice president – internal audit and chief audit executive, effective July 19, 2022. Gillette, who has led the Global Internal Audit team since 2019, is tasked with managing all internal audit activities, including financial audits and compliance assessments, according to the Sarbanes-Oxley Act. His prior experience includes positions at The Goodyear Tire & Rubber Company. CEO Frank C. Sullivan praised Gillette's contributions to enhancing internal audit processes and accountability across the company.
RPM International Inc. has appointed General (retired) Ellen Pawlikowski to its Board of Directors, effective July 18, 2022. Pawlikowski, a distinguished leader with extensive experience in strategic planning and program management, will stand for election at the upcoming annual meeting. She previously served as a four-star general in the U.S. Air Force, overseeing significant weapon system acquisitions. Frank C. Sullivan, RPM's chairman and CEO, emphasized that her expertise will be a valuable asset for the company's growth and stakeholder value.
RPM International Inc. has declared a quarterly cash dividend of $0.40 per share, payable on July 29, 2022, for stockholders on record by July 15, 2022. This marks the 48th consecutive year of increasing dividends, with a previous increase of 5.3% in October 2021. RPM has returned approximately $2.8 billion in cash dividends to its shareholders during this period. At a share price of $80.00, RPM's dividend yield stands at 2.0%.
RPM International Inc. (NYSE: RPM) will announce its financial results for the fiscal 2022 fourth quarter and year ended May 31, 2022, on July 25, 2022, before market opening. The results will be available via newswire and on www.RPMinc.com. A conference call will be held at 10:00 a.m. EDT the same day for discussion, accessible through a webcast or by phone. A replay will be available after the call. RPM operates globally in specialty coatings and building materials, employing approximately 16,800 individuals.
RPM International Inc. (NYSE: RPM) will present at the Wells Fargo Industrials Conference on May 4, 2022, at 2:40 p.m. EDT, led by CFO Russell L. Gordon and VP Michael J. Laroche. The presentation will cover RPM's growth strategy, financial performance, including 48 consecutive years of dividend increases, and its global operations and acquisition program. A live webcast will be available on RPM's website, with an archived replay for one year.
RPM International reported record third-quarter sales of $1.43 billion, a 13% year-over-year increase. However, net income fell to $33.0 million, a 13.7% decrease from the prior year. The diluted EPS was $0.25, down 13.8% year-over-year. Record EBIT reached $66.9 million, up 2.3% from last year, while adjusted EBIT was $80.6 million, a 0.8% increase. For Q4, RPM anticipates sales growth in the low teens and faces challenges from inflation and supply chain issues.