RPM International, Inc. - RPM STOCK NEWS

RPM International announced the acquisition of TMP Convert SAS (TMPC), a French manufacturer of outdoor design and landscape products, to be integrated into its Fibergrate Structures business within the Performance Coatings Group. TMPC, with annual net sales of €35 million, produces JOUPLAST® and OCAPE® branded adjustable and fixed pedestals for flooring and roofing applications. The acquisition complements Fibergrate's Bison business in composite pedestals and decking solutions. Thierry Convert will continue leading TMPC's team, focusing on growth with Bison. The deal strengthens RPM's presence in European markets and aligns with their sustainability program through TMPC's use of recycled materials.

RPM International Inc. (NYSE: RPM) has announced the retirement of Edward W. Moore, Senior Vice President, General Counsel, and Chief Compliance Officer, by the end of 2024. Tracy D. Crandall, currently Vice President - Compliance and Sustainability and Associate General Counsel, will succeed Moore as Vice President, General Counsel, and Chief Compliance Officer effective October 4, 2024.

Moore, who joined RPM in 2006, has overseen the legal and compliance department as the company grew from $3 billion to over $7 billion in revenue. Crandall, who joined RPM in 2010, has been instrumental in leading the company's global sustainability initiative. Frank C. Sullivan, RPM Chairman and CEO, praised Moore's leadership and expressed confidence in Crandall's ability to continue driving legal oversight across RPM.

RPM International Inc. (NYSE: RPM) has announced a 10.9% increase in its quarterly cash dividend, marking the 51st consecutive year of dividend growth. The new dividend of $0.51 per share will be payable on October 31, 2024, to stockholders of record as of October 18, 2024. This achievement places RPM among an elite group of less than 0.5% of all publicly traded U.S. companies.

At the annual stockholders meeting, three directors were re-elected for one-year terms, and the board's classification will be phased out over the next three annual meetings. The company also announced that John M. Ballbach and Kirkland B. Andrews will be stepping down from the board of directors.

RPM reported record fiscal 2025 Q1 results with net income of $227.7 million, diluted EPS of $1.77, and EBIT of $303.9 million. Adjusted diluted EPS rose 12.2% to $1.84, and adjusted EBIT increased 6.3% to $328.3 million. Net sales fell 2.1% to $1.97 billion. Operating cash flow was $248.1 million. The fiscal 2025 Q2 outlook predicts flat sales growth and mid-single digit adjusted EBIT growth. Full-year guidance remains at low-single digit revenue growth and mid-single to low-double digit adjusted EBIT growth.

Segment highlights: CPG saw 1.4% sales growth, PCG had a 1.8% sales decline, SPG experienced a 3.5% sales decrease, and Consumer Group sales dropped 6.1%. Geographic sales varied, with declines in North America and Europe, and growth in Asia/Pacific and Africa/Middle East. Operating expenses decreased due to MAP 2025 initiatives.

RPM reduced total debt by $453.1 million, ending the quarter with $2.05 billion in debt and $1.44 billion in liquidity. The company returned $76.4 million to shareholders through dividends and share repurchases.

RPM International Inc. (NYSE: RPM) has announced that it will release its fiscal 2025 first-quarter financial results on Wednesday, October 2, 2024, before the stock market opens. The company will host a conference call at 10:00 a.m. Eastern Time on the same day to discuss the results. The call will be accessible via webcast on RPM's website or by dialing in. While the call is open to the public, only financial analysts will be permitted to ask questions. For those unable to attend, a replay will be available from October 2 to October 9, 2024. The financial results will be available on RPM's website and distributed via newswire.

RPM International Inc. (NYSE: RPM) reported record financial results for its fiscal 2024 fourth quarter and full year ended May 31, 2024. The company achieved record adjusted EBIT for the 10th consecutive quarter, with fourth-quarter net income of $180.6 million, diluted EPS of $1.40, and record EBIT of $258.0 million. Record fourth-quarter adjusted diluted EPS of $1.56 increased 14.7% over the prior year.

For the full fiscal year 2024, RPM reported record net sales of $7.34 billion, up 1.1% from the prior year, and record net income of $588.4 million. The company achieved record fiscal 2024 cash flow from operating activities of $1.12 billion, up $545.2 million over the prior year.

RPM's outlook for fiscal 2025 first-quarter calls for approximately flat sales and adjusted EBIT growth of mid-single digits. The full-year 2025 outlook projects revenue growth of low single digits and adjusted EBIT growth of mid-single-digits to low-double-digits.

RPM International Inc. has announced two key appointments effective July 19, 2024. Matthew E. Schlarb has been named vice president – investor relations and sustainability, expanding his current role to oversee RPM's Building a Better World sustainability initiative. Schlarb, who joined RPM in 2022, brings experience in investor relations and sustainability from previous roles at Lottery.com Inc. and Fairmount Santrol.

Paul R. Darwin has been appointed vice president – procurement after 17 years with RPM. Darwin has played a important role in developing RPM's purchasing and global procurement functions, contributing significantly to the company's operational improvement programs. In his new position, Darwin will be responsible for executing RPM's multi-year global procurement strategy and directing corporate procurement activities.

Both appointments aim to strengthen RPM's leadership in investor relations, sustainability, and procurement, supporting the company's growth and operational efficiency initiatives.

RPM International (NYSE: RPM) has declared a regular quarterly cash dividend of $0.46 per share, payable on July 31, 2024, to shareholders of record as of July 17, 2024.

This follows a 10% dividend increase in October 2023, marking RPM's 50th consecutive year of increased dividends.

RPM is among an elite group of less than 0.5% of U.S. publicly traded companies with such a long history of increasing annual dividends. The company has returned approximately $3.5 billion in cash dividends to its shareholders over this period.

RPM International (NYSE: RPM) will release its financial results for the fiscal 2024 fourth quarter and year-end on July 25, 2024, before the market opens. The results will be available on the RPM website. A conference call to discuss the results will follow at 10:00 a.m. Eastern Time, accessible via webcast or phone. Financial analysts may ask questions, while other participants will be in listen-only mode. A replay of the call will be available until August 1, 2024, through the RPM website or by phone using access code 6170685.