Rpm Inc Stock Price, News & Analysis

RPM International Inc. (NYSE: RPM) has revised its financial expectations for the fiscal third quarter ended February 28, 2021, citing severe winter weather impacts across the U.S. Previously forecasting mid-single-digit revenue growth and over 30% adjusted EBIT growth, the company now anticipates low single-digit revenue growth and 10% to 15% adjusted EBIT growth. While disruptions have affected transportation and supply chains, RPM notes that most impacted business will likely be deferred to the strong spring selling season starting March 1. An updated full-year outlook will be shared on April 7, 2021.

RPM International (NYSE: RPM) announced it received an unsolicited mini-tender offer from TRC Capital to buy up to 1.5 million shares at $82.50 each, a 5.5% discount to the market price. RPM disassociates itself from this offer, urging stockholders to reject it due to the lower price and lack of investor protections. The offer is contingent on sufficient financing and no decrease in stock price. RPM advises any shareholders who tendered shares to withdraw them before the offer's expiration on March 10, 2021.

RPM International reported record fiscal Q2 2021 results with net sales reaching $1.49 billion, a 6.0% increase year-over-year. Net income surged 65.7% to $127.7 million, and diluted EPS rose 66.1% to $0.98. Adjusted EBIT also climbed 29.7% to $199.3 million. The Consumer Group showed exceptional growth with sales up 21.4% due to increased home improvement projects. Despite challenges in the Performance Coatings segment, overall cash flow rose 93.1% to a record $579.5 million, enhancing liquidity to $1.56 billion.

RPM International Inc. (NYSE: RPM) has declared a quarterly cash dividend of $0.38 per share, payable on January 29, 2021, to stockholders on record as of January 15, 2021. This marks the 47th consecutive year of increased dividends, with a total of approximately $2.6 billion returned to shareholders during this period. Following the last cash dividend increase of 5.6% in October 2020, RPM's current dividend yield stands at 1.68% at a share price of $90.50.

RPM International Inc. will release its financial results for Q2 fiscal 2021 on January 6, 2021, before market opening. The results will be accessible via newswire and the company's website. Management will hold a conference call at 10:00 a.m. EST on the same day for discussion, with limited Q&A for financial analysts. A replay will be available post-call until January 13, 2021. RPM operates in specialty coatings, sealants, and building materials, employing approximately 14,600 individuals globally.

RPM International Inc. announced the passing of former chairman and CEO, Thomas C. Sullivan, on November 30, 2020, at the age of 83. Sullivan joined RPM in 1961 and became CEO in 1971, guiding the company to over $2 billion in sales by 2002 through strategic growth and acquisitions. He retired in 2008 after nearly four decades of leadership. Current chairman Frank C. Sullivan praised Tom's legacy and impact on RPM's corporate culture. A private funeral mass will be live-streamed on December 5, 2020, with a celebration of life planned for July 17, 2021.

RPM International Inc. has announced that Russell L. Gordon, the CFO, will present at the 9th Annual Morgan Stanley Virtual Global Chemicals and Agriculture Conference on November 10, 2020, at 12:45 p.m. EST. The presentation will highlight RPM's growth strategy, financial performance, including 47 consecutive years of dividend increases, and its global operations.

A live webcast of the presentation will be available on RPM's website, with an archived replay accessible for 90 days post-event.

RPM International Inc. (NYSE: RPM) announced a quarterly cash dividend of $0.38 per share at its annual stockholders meeting, payable on October 30, 2020, to shareholders of record as of October 19, 2020. This represents a 5.6% increase from the previous year's $0.36 dividend. This dividend marks the 47th consecutive year of increased cash dividends, placing RPM among less than 0.5% of publicly traded U.S. companies. The company has distributed approximately $2.6 billion to shareholders over this period, resulting in a 1.8% dividend yield.

RPM International reported a 9.1% increase in net sales for Q1 fiscal 2021, reaching a record $1.61 billion, up from $1.47 billion a year ago. Net income surged 70.1% to $180.6 million, with diluted EPS rising 69.5% to $1.39. Key growth was driven by the Construction Products and Consumer Groups. Despite a 12.6% decrease in the Performance Coatings Group, overall earnings before interest and taxes (EBIT) rose 51.0% to $250.4 million. The company anticipates low- to mid-single-digit sales growth for Q2 and strong EBIT growth exceeding 20%.