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RPM International Inc. (NYSE: RPM) is a global leader in specialty coatings, sealants, building materials, and related services for both industrial and consumer markets. With a legacy of innovation and quality, RPM's diverse portfolio includes industrial products like roofing systems, corrosion control coatings, flooring solutions, and specialty chemicals. Their well-known industrial brands include Stonhard, Tremco, Illbruck, Carboline, Flowcrete, Day-Glo, Dryvit, and Euclid Chemical.
On the consumer side, RPM caters to professionals and DIY enthusiasts with products for home maintenance, improvement, and hobby projects. Popular consumer brands under RPM's umbrella include Rust-Oleum, DAP, Zinsser, Varathane, and Testors. These products are readily available in hardware and craft stores, making them accessible to a broad audience.
RPM operates 116 manufacturing facilities in 26 countries, employing approximately 13,000 people globally. Its extensive reach ensures that RPM's products are sold in around 170 countries and territories, highlighting their international presence and market penetration.
Financially, RPM has demonstrated robust performance. In the fiscal year 2015, the company reported sales of $4.6 billion, with 65% of that coming from industrial markets worldwide and the remaining 35% from consumer markets, primarily in North America. RPM continues to foster growth through strategic partnerships, innovative projects, and a commitment to quality and sustainability.
Organizationally, RPM is segmented into four major groups:
- The Construction Products Group sells coatings, roofing, insulation, and related products to distributors, contractors, and end consumers globally.
- The Performance Coatings Group specializes in coatings for construction and industrial applications, such as flooring and corrosion control.
- The Consumer Group focuses on paints, finishes, and similar products sold to individual consumers through retail channels.
- The Specialty Products Group offers a diverse array of niche products, including marine finishes and edible food colorings.
RPM's commitment to innovation, quality, and customer satisfaction makes it a significant player in both the industrial and consumer markets, continuously driving forward with new projects and partnerships.
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.
RPM International Inc. (NYSE: RPM) has announced the appointment of Andrew G. Polanco as vice president of manufacturing, succeeding Gordon M. Hyde, who is retiring. Polanco, who joined RPM in 2016, has previously served as vice president of operations for both DAP and RPM Consumer Group. In his new role, he will oversee manufacturing and continuous improvement initiatives across all business segments, focusing on efficiency and sustainability. Hyde, who joined RPM in 1999, was instrumental in the implementation of their manufacturing excellence program. RPM operates in the specialty coatings and building materials sector, employing approximately 16,800 people worldwide.
RPM International reported a strong second-quarter performance for fiscal 2023 with net sales at a record $1.79 billion, up 9.3% year-over-year. Net income rose 5.2% to $131.3 million, while diluted EPS reached $1.02. Adjusted EBIT increased by 36.4% to $214.7 million.
Despite challenges from inflation and currency headwinds, all segments saw record sales. The company anticipates a modest sales growth outlook for Q3 2023 and adjusted EBIT between $75-$85 million, facing pressures from higher interest rates and supply chain normalization.
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