RPM Reports Record Fiscal 2025 Second-Quarter Results
RPM International reported record financial results for fiscal 2025 second quarter with sales reaching $1.85 billion, up 3.0% year-over-year. The company achieved record net income of $183.2 million and record diluted EPS of $1.42.
Sales growth was driven by higher volumes across all four segments, with businesses leveraging their focus on repair and maintenance. The company's MAP 2025 initiatives led to improved profitability, particularly in Europe. Sales included 3.7% organic growth, offset slightly by a 0.1% decline from divestitures and a 0.6% decline from foreign currency translation.
For fiscal 2025 third-quarter outlook, RPM expects flat sales and adjusted EBIT to fluctuate in the low-single-digits. The full-year outlook maintains low-single-digit sales growth with adjusted EBIT growth narrowed to 6-10%.
RPM International ha riportato risultati finanziari record per il secondo trimestre dell'anno fiscale 2025, con vendite che hanno raggiunto $1,85 miliardi, in aumento del 3,0% rispetto all'anno precedente. L'azienda ha raggiunto un reddito netto record di $183,2 milioni e un utile per azione diluito record di $1,42.
La crescita delle vendite è stata sostenuta da volumi più elevati in tutti e quattro i segmenti, con le aziende che hanno capitalizzato il loro focus su riparazioni e manutenzioni. Le iniziative MAP 2025 dell'azienda hanno portato a un miglioramento della redditività, in particolare in Europa. Le vendite hanno incluso una crescita organica del 3,7%, leggermente compensata da un declino dello 0,1% dovuto alle dismissioni e da un declino dello 0,6% a causa della traduzione valutaria estera.
Per le previsioni del terzo trimestre dell'anno fiscale 2025, RPM si aspetta vendite stazionarie e un EBIT rettificato che fluttui nelle cifre a bassa unità. Le previsioni per l'intero anno mantengono una crescita delle vendite a bassa unità, con una crescita dell'EBIT rettificato ridotta al 6-10%.
RPM International reportó resultados financieros récord para el segundo trimestre del año fiscal 2025, con ventas que alcanzaron $1.85 mil millones, un aumento del 3.0% con respecto al año anterior. La compañía logró un ingreso neto récord de $183.2 millones y un EPS diluido récord de $1.42.
El crecimiento de las ventas fue impulsado por volúmenes más altos en los cuatro segmentos, con negocios que aprovecharon su enfoque en reparación y mantenimiento. Las iniciativas MAP 2025 de la compañía llevaron a una rentabilidad mejorada, particularmente en Europa. Las ventas incluyeron un crecimiento orgánico del 3.7%, ligeramente contrarrestado por una disminución del 0.1% debido a desinversiones y una disminución del 0.6% por la traducción de divisas extranjeras.
Para la perspectiva del tercer trimestre del año fiscal 2025, RPM espera ventas estables y EBIT ajustado que fluctúe en dígitos bajos. Las perspectivas para todo el año mantienen un crecimiento de ventas en dígitos bajos, con un crecimiento de EBIT ajustado reducido al 6-10%.
RPM 국제은 2025 회계연도 2분기에 대한 기록적인 재무 실적을 보고했으며, 매출은 $18.5억으로 전년 대비 3.0% 증가하였습니다. 회사는 $1억8천3백20만의 기록적인 순이익과 $1.42의 기록적인 희석 주당 순이익(EPS)을 달성하였습니다.
매출 성장은 네 개의 모든 세그먼트에서 더 높은 물량에 의해 주도되었으며, 기업은 수리 및 유지 관리에 대한 집중을 활용하였습니다. 회사의 MAP 2025 이니셔티브는 특히 유럽에서 수익성을 개선시키는 데 기여하였습니다. 매출에는 3.7%의 유기적 성장 포함되었으며, 매각으로 인한 0.1% 감소와 외환 변환으로 인한 0.6% 감소와 약간 상쇄되었습니다.
2025 회계연도 3분기 전망을 위해, RPM은 매출이 평탄할 것으로 예상하고 조정된 EBIT은 낮은 단위의 변동성을 보일 것으로 예상합니다. 전체 연도 전망은 낮은 단위의 판매 성장을 유지하며, 조정된 EBIT 성장률은 6-10%로 좁혀졌습니다.
RPM International a annoncé des résultats financiers records pour le deuxième trimestre de l'exercice 2025, avec des ventes atteignant 1,85 milliard de dollars, en hausse de 3,0% par rapport à l'année précédente. L'entreprise a réalisé un revenu net record de 183,2 millions de dollars et un BPA dilué record de 1,42 $.
La croissance des ventes a été soutenue par des volumes plus élevés dans les quatre segments, les entreprises s'étant appuyées sur leur concentration sur la réparation et l'entretien. Les initiatives MAP 2025 de l'entreprise ont conduit à une rentabilité améliorée, notamment en Europe. Les ventes incluaient une croissance organique de 3,7%, légèrement compensée par une baisse de 0,1% due à des cessions et une baisse de 0,6% en raison de la translation des devises étrangères.
Pour les prévisions du troisième trimestre de l'exercice 2025, RPM s'attend à des ventes stables et à un EBIT ajusté fluctuant dans les chiffres à faible unité. Les prévisions pour l'ensemble de l'année maintiennent une croissance des ventes à faible unité, avec une croissance de l'EBIT ajusté réduite à 6-10%.
RPM International meldete für das zweite Quartal des Geschäftsjahres 2025 Rekordfinanzergebnisse mit einem Umsatz von $1,85 Milliarden, was einem Anstieg von 3,0% im Vergleich zum Vorjahr entspricht. Das Unternehmen erzielte einen Rekordnettogewinn von $183,2 Millionen und einen Rekordverwässerten EPS von $1,42.
Das Umsatzwachstum wurde durch höhere Volumina in allen vier Segmenten getrieben, wobei die Unternehmen ihren Fokus auf Reparatur und Wartung nutzten. Die MAP 2025-Initiativen des Unternehmens führten zu einer verbesserten Rentabilität, insbesondere in Europa. Der Umsatz beinhaltete ein organisches Wachstum von 3,7%, das geringfügig durch einen Rückgang von 0,1% aus Desinvestitionen und einen Rückgang von 0,6% aus der Fremdwährungsumrechnung ausgeglichen wurde.
Für die Prognose des dritten Quartals des Geschäftsjahres 2025 erwartet RPM stabile Umsätze und ein angepasstes EBIT, das in den niedrigen einstelligen Ziffern schwanken wird. Die Prognose für das gesamte Jahr bleibt bei einem Wachstum der Umsätze im niedrigen einstelligen Bereich, wobei das Wachstum des angepassten EBIT auf 6-10% eingegrenzt wurde.
- Record Q2 sales of $1.85 billion, up 3.0% YoY
- Record Q2 net income of $183.2 million
- Record diluted EPS of $1.42, up 25.7%
- Strong operating cash flow of $279.4 million
- Debt reduction of $226.5 million over 12 months
- All four segments generated positive volume growth
- Operating working capital improved by 100 basis points to 22.0%
- Consumer Group reported 9.9% decrease in Income Before Taxes
- $4.4 million bad debt expense from Consumer Group customer bankruptcy
- Latin American sales declined due to currency translation
- Asia/Pacific sales declined due to challenging prior year comparisons
- Winter weather conditions negatively impacting Q3 outlook
Insights
RPM International delivered a robust Q2 FY2025 with notable achievements: record sales of
Key performance indicators shine: adjusted EBIT margin reached record levels, while operating cash flow remained strong at
However, headwinds exist: winter weather impacts in Q3, elevated mortgage rates affecting consumer segments and pockets of raw material inflation. The narrowed full-year adjusted EBIT guidance of
The market positioning analysis reveals RPM's strategic advantages: their focus on repair and maintenance provides recession-resistant revenue streams, while technical product offerings for high-performance construction create premium pricing power. The geographical performance shows strength in North America and significant profitability improvements in Europe through MAP 2025 initiatives.
The working capital efficiency improvement of 100 basis points to
The liquidity position remains solid at
The MAP 2025 initiatives are delivering exceptional operational results through multiple channels: improved SG&A efficiency, enhanced working capital management and strengthened supply chain operations. The successful streamlining of operations is evident in the
The rationalization of lower-margin products in the Consumer Group demonstrates disciplined portfolio management. The expansion of production facilities in Belgium and India represents strategic capacity additions aligned with market opportunities. The
The segment-specific performance shows particular strength in Construction Products and Performance Coatings, where technical expertise and service excellence drive premium positioning. The ability to maintain growth while improving efficiency metrics indicates well-executed operational discipline.
-
Record second-quarter sales of
$1.85 billion 3.0% over prior year -
Record second-quarter net income of
$183.2 million $1.42 $227.6 million -
Record second-quarter adjusted diluted EPS of
$1.39 13.9% over prior year and record adjusted EBIT increased7.7% to$255.1 million -
Strong second-quarter cash provided by operating activities of
$279.4 million - Fiscal 2025 third-quarter outlook calls for flat sales and adjusted EBIT to grow or decline by low-single-digits
-
Fiscal 2025 full-year sales outlook reiterated at low-single-digit growth and adjusted EBIT outlook narrowed to
6% to10% growth
Frank C. Sullivan, RPM chairman and CEO commented, “Across our businesses, RPM associates demonstrated their ability to capitalize on growth opportunities in a mixed economic environment, leading to all four of our segments generating positive volume during the second quarter, as well as record consolidated sales. The momentum of our MAP 2025 operating improvement initiatives also continued, including the hard work to streamline SG&A expenses. The combination of these efforts resulted in all segments growing adjusted EBIT to achieve record consolidated second-quarter adjusted EBIT for the 12th consecutive quarter, record adjusted EBIT margin, and continued strength in operating cash flow.”
He added, “Our Construction Products and Performance Coatings Groups continued generating good growth as they leveraged their focus on repair and maintenance and their technical products to serve high-performance construction projects. In our Consumer and Specialty Products Groups, sales grew as they expanded market share, residential end markets showed signs of stabilization, and weather conditions were favorable for most of the quarter.”
Second-Quarter 2025 Consolidated Results
| Consolidated | ||||||||||
| Three Months Ended | ||||||||||
| $ in 000s except per share data | November 30, | November 30, | ||||||||
2024 |
2023 |
$ Change | % Change | |||||||
| Net Sales | $ |
1,845,318 |
$ |
1,792,275 |
$ |
53,043 |
3.0 |
% |
||
| Net Income Attributable to RPM Stockholders |
|
183,204 |
|
145,505 |
|
37,699 |
25.9 |
% |
||
| Diluted Earnings Per Share (EPS) |
|
1.42 |
|
1.13 |
|
0.29 |
25.7 |
% |
||
| Income Before Income Taxes (IBT) |
|
212,982 |
|
195,824 |
|
17,158 |
8.8 |
% |
||
| Earnings Before Interest and Taxes (EBIT) |
|
227,633 |
|
220,883 |
|
6,750 |
3.1 |
% |
||
| Adjusted EBIT(1) |
|
255,076 |
|
236,893 |
|
18,183 |
7.7 |
% |
||
| Adjusted Diluted EPS(1) |
|
1.39 |
|
1.22 |
|
0.17 |
13.9 |
% |
||
| (1) Excludes certain items that are not indicative of RPM's ongoing operations. See tables below titled Supplemental Segment Information and Reconciliation of Reported to Adjusted Amounts for details. | ||||||||||
Sales growth was driven by higher volumes in all four segments as businesses leveraged their focus on repair and maintenance and capitalized on targeted organic growth opportunities. Businesses serving high-performance construction projects with technical solutions performed particularly well. Those serving residential end markets exhibited signs of stabilization and were aided by favorable weather.
Geographically, sales growth was generally solid across North American businesses and was mixed elsewhere. In
Sales included
Adjusted EBIT and adjusted EBIT margin were second-quarter records, driven by MAP 2025 initiatives, improved sales and structural SG&A streamlining, which resulted in SG&A decreasing as a percentage of sales, partially offset by unfavorable mix. The commodity cycle was neutral during the quarter, and included pockets of inflation, particularly in the Consumer Group. Adjusted EBIT includes the negative impact of a
Adjusted diluted EPS was a record, driven by adjusted EBIT growth, and strong cash flow, which resulted in
Second-Quarter 2025 Segment Sales and Earnings
| Construction Products Group | ||||||||||
| Three Months Ended | ||||||||||
| $ in 000s | November 30, | November 30, | ||||||||
2024 |
2023 |
$ Change | % Change | |||||||
| Net Sales | $ |
690,116 |
$ |
661,750 |
$ |
28,366 |
4.3 |
% |
||
| Income Before Income Taxes |
|
105,652 |
|
98,398 |
|
7,254 |
7.4 |
% |
||
| EBIT |
|
106,550 |
|
98,953 |
|
7,597 |
7.7 |
% |
||
| Adjusted EBIT(1) |
|
108,560 |
|
99,613 |
|
8,947 |
9.0 |
% |
||
| (1) Excludes certain items that are not indicative of RPM's ongoing operations. See table below titled Supplemental Segment Information for details. | ||||||||||
CPG sales were a record and were driven by turnkey roofing systems and services, which benefited from its restoration project focus, direct sales model, and high level of customer service. Hurricane activity negatively impacted some construction demand in the second quarter.
Sales included
Record second-quarter adjusted EBIT was driven by sales growth and MAP 2025 benefits, partially offset by unfavorable mix.
| Performance Coatings Group | ||||||||||
| Three Months Ended | ||||||||||
| $ in 000s | November 30, | November 30, | ||||||||
2024 |
2023 |
$ Change | % Change | |||||||
| Net Sales | $ |
380,103 |
$ |
374,856 |
$ |
5,247 |
1.4 |
% |
||
| Income Before Income Taxes |
|
63,773 |
|
61,502 |
|
2,271 |
3.7 |
% |
||
| EBIT |
|
63,237 |
|
60,077 |
|
3,160 |
5.3 |
% |
||
| Adjusted EBIT(1) |
|
64,956 |
|
60,870 |
|
4,086 |
6.7 |
% |
||
| (1) Excludes certain items that are not indicative of RPM's ongoing operations. See table below titled Supplemental Segment Information for details. | ||||||||||
PCG achieved record second-quarter sales led by the flooring and protective coatings businesses serving high-performance construction projects. Growth was strongest in
Sales included
Adjusted EBIT was a second-quarter record and was driven by MAP 2025 benefits and sales growth.
| Specialty Products Group | ||||||||||
| Three Months Ended | ||||||||||
| $ in 000s | November 30, | November 30, | ||||||||
2024 |
2023 |
$ Change | % Change | |||||||
| Net Sales | $ |
184,852 |
$ |
176,982 |
$ |
7,870 |
4.4 |
% |
||
| Income Before Income Taxes |
|
16,694 |
|
10,145 |
|
6,549 |
64.6 |
% |
||
| EBIT |
|
16,813 |
|
10,041 |
|
6,772 |
67.4 |
% |
||
| Adjusted EBIT(1) |
|
19,625 |
|
16,920 |
|
2,705 |
16.0 |
% |
||
| (1) Excludes certain items that are not indicative of RPM's ongoing operations. See table below titled Supplemental Segment Information for details. | ||||||||||
SPG’s sales growth was driven by the disaster restoration business’s response to hurricane activity and strength in the food coatings and additives business, which benefited from a previous acquisition. Specialty residential OEM demand showed signs of stabilization during the quarter.
Sales included
Adjusted EBIT increased as a result of MAP 2025 benefits and improved sales.
| Consumer Group | |||||||||||
| Three Months Ended | |||||||||||
| $ in 000s | November 30, | November 30, | |||||||||
2024 |
2023 |
$ Change | % Change | ||||||||
| Net Sales | $ |
590,247 |
$ |
578,687 |
$ |
11,560 |
|
2.0 |
% |
||
| Income Before Income Taxes |
|
88,311 |
|
98,066 |
|
(9,755 |
) |
(9.9 |
%) |
||
| EBIT |
|
88,434 |
|
97,197 |
|
(8,763 |
) |
(9.0 |
%) |
||
| Adjusted EBIT(1) |
|
96,642 |
|
96,395 |
|
247 |
|
0.3 |
% |
||
| (1) Excludes certain items that are not indicative of RPM's ongoing operations. See table below titled Supplemental Segment Information for details. | |||||||||||
The Consumer Group’s sales growth was driven by market shares gains and stabilization in DIY takeaway, including the impact of favorable weather for most of the quarter. Customer inventory levels were generally steady during the quarter. The rationalization of lower margin products was a drag on sales, while strong growth continued in international markets due to targeted marketing campaigns.
Sales included
Adjusted EBIT was a record, driven by MAP 2025 benefits, sales growth and the rationalization of lower-margin products, partially offset by
Cash Flow and Financial Position
During the first six months of fiscal 2025:
-
Cash provided by operating activities was
$527.5 million $767.8 million -
Operating working capital as a percentage of sales improved by 100 basis points to
22.0% compared to23.0% in the prior-year period, driven by MAP 2025 working capital efficiency initiatives. -
Capital expenditures were
$100.7 million $89.3 million Belgium and another inIndia , which is expected to open in the second half of fiscal 2025. -
The company returned
$159.5 million - The company acquired TMP Convert SAS late in the fiscal second quarter to expand its decking and landscaping offerings.
As of November 30, 2024:
-
Total debt was
$2.03 billion $2.25 billion $226.5 million -
Total liquidity, including cash and committed revolving credit facilities, was
$1.50 billion $1.51 billion
Business Outlook
“We remain focused on things within our control in a mixed economic environment. These include leveraging our competitive strengths to outgrow our markets and implementing MAP 2025 initiatives. So far in the third quarter, the progress we are making in these areas is being offset by end market pressure caused by winter weather that is meaningfully harsher than the prior year. Overall, we anticipate sales and adjusted EBIT will be similar to the prior year in what is our seasonally slowest quarter. Construction Products and Performance Coatings Groups continue to execute well with their focus on high performance buildings, and maintenance and restoration projects. In our Consumer and Specialty Products Groups, stubbornly elevated mortgage rates and the unfavorable weather conditions have put pressure on sales in these segments,” Sullivan concluded.
The company expects the following in the fiscal 2025 third quarter:
- Consolidated sales to be flat compared to prior-year record results.
- CPG sales to increase in the low-single-digit percentage range compared to prior-year record results.
- PCG sales to be flat to up slightly compared to prior-year record results.
- SPG sales to decrease in the low-single-digit percentage range compared to prior-year results.
- Consumer Group sales to decrease in the low-single-digit percentage range compared to prior-year results.
- Consolidated adjusted EBIT to grow or decline in the low-single-digit percentage range compared to prior-year record results.
The company expects the following for full-year fiscal 2025:
- Consolidated sales increasing in the low-single-digit percentage range compared to prior-year record results, which is unchanged from the prior outlook.
-
Consolidated adjusted EBIT increasing between
6% and10% compared to prior-year record results, which is a narrower range than the previous outlook of mid-single-digit to low-double-digit growth.
Earnings Webcast and Conference Call Information
Management will host a conference call to discuss these results beginning at 10:00 a.m. ET today. The call can be accessed via webcast at www.RPMinc.com/Investors/Presentations-Webcasts or by dialing 1-844-481-2915 or 1-412-317-0708 for international callers and asking to join the RPM International call. Participants are asked to call the assigned number approximately 10 minutes before the conference call begins. The call, which will last approximately one hour, will be open to the public, but only financial analysts will be permitted to ask questions. The media and all other participants will be in a listen-only mode.
For those unable to listen to the live call, a replay will be available from January 7, 2025, until January 14, 2025. The replay can be accessed by dialing 1-877-344-7529 or 1-412-317-0088 for international callers. The access code is 3824316. The call also will be available for replay and as a written transcript via the RPM website at www.RPMinc.com.
About RPM
RPM International Inc. owns subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services. The company operates across four reportable segments: consumer, construction products, performance coatings and specialty products. RPM has a diverse portfolio of market-leading brands, including Rust-Oleum, DAP, Zinsser, Varathane, DayGlo, Legend Brands, Stonhard, Carboline, Tremco and Dryvit. From homes and workplaces to infrastructure and precious landmarks, RPM’s brands are trusted by consumers and professionals alike to help build a better world. The company is ranked on the Fortune 500® and employs approximately 17,200 individuals worldwide. Visit www.RPMinc.com to learn more.
For more information, contact Matt Schlarb, Vice President – Investor Relations & Sustainability, at 330-220-6064 or mschlarb@rpminc.com.
From Fortune ©2024 Fortune Media IP Limited. All rights reserved. Used under license. Fortune and Fortune 500 are registered trademarks of Fortune Media IP Limited and are used under license. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse the products or services of RPM International Inc.
Use of Non-GAAP Financial Information
To supplement the financial information presented in accordance with Generally Accepted Accounting Principles in
Use of Key Performance Indicator Metric
To supplement the financial information presented in accordance with Generally Accepted Accounting Principles in
Forward-Looking Statements
This press release contains “forward-looking statements” relating to our business. These forward-looking statements, or other statements made by us, are made based on our expectations and beliefs concerning future events impacting us and are subject to uncertainties and factors (including those specified below), which are difficult to predict and, in many instances, are beyond our control. As a result, our actual results could differ materially from those expressed in or implied by any such forward-looking statements. These uncertainties and factors include (a) global and regional markets and general economic conditions, including uncertainties surrounding the volatility in financial markets, the availability of capital and the viability of banks and other financial institutions; (b) the prices, supply and availability of raw materials, including assorted pigments, resins, solvents, and other natural gas- and oil-based materials; packaging, including plastic and metal containers; and transportation services, including fuel surcharges; (c) continued growth in demand for our products; (d) legal, environmental and litigation risks inherent in our businesses and risks related to the adequacy of our insurance coverage for such matters; (e) the effect of changes in interest rates; (f) the effect of fluctuations in currency exchange rates upon our foreign operations; (g) the effect of non-currency risks of investing in and conducting operations in foreign countries, including those relating to domestic and international political, social, economic and regulatory factors; (h) risks and uncertainties associated with our ongoing acquisition and divestiture activities; (i) the timing of and the realization of anticipated cost savings from restructuring initiatives, the ability to identify additional cost savings opportunities, and the risks of failing to meet any other objectives of our improvement plans; (j) risks related to the adequacy of our contingent liability reserves; (k) risks relating to a public health crisis similar to the Covid pandemic; (l) risks related to acts of war similar to the Russian invasion of
| CONSOLIDATED STATEMENTS OF INCOME | ||||||||||||||||
| IN THOUSANDS, EXCEPT PER SHARE DATA | ||||||||||||||||
| (Unaudited) | ||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| November 30, | November 30, | November 30, | November 30, | |||||||||||||
2024 |
2023 |
2024 |
2023 |
|||||||||||||
| Net Sales | $ |
1,845,318 |
|
$ |
1,792,275 |
|
$ |
3,814,107 |
|
$ |
3,804,132 |
|
||||
| Cost of Sales |
|
1,080,774 |
|
|
1,044,047 |
|
|
2,212,890 |
|
|
2,227,287 |
|
||||
| Gross Profit |
|
764,544 |
|
|
748,228 |
|
|
1,601,217 |
|
|
1,576,845 |
|
||||
| Selling, General & Administrative Expenses |
|
529,836 |
|
|
523,289 |
|
|
1,055,982 |
|
|
1,054,321 |
|
||||
| Restructuring Expense |
|
7,557 |
|
|
1,239 |
|
|
14,759 |
|
|
7,737 |
|
||||
| Interest Expense |
|
23,177 |
|
|
30,348 |
|
|
47,611 |
|
|
62,166 |
|
||||
| Investment (Income), Net |
|
(8,526 |
) |
|
(5,289 |
) |
|
(19,552 |
) |
|
(17,728 |
) |
||||
| Other (Income) Expense, Net |
|
(482 |
) |
|
2,817 |
|
|
(1,016 |
) |
|
5,371 |
|
||||
| Income Before Income Taxes |
|
212,982 |
|
|
195,824 |
|
|
503,433 |
|
|
464,978 |
|
||||
| Provision for Income Taxes |
|
29,532 |
|
|
50,009 |
|
|
91,429 |
|
|
117,850 |
|
||||
| Net Income |
|
183,450 |
|
|
145,815 |
|
|
412,004 |
|
|
347,128 |
|
||||
| Less: Net Income Attributable to Noncontrolling Interests |
|
246 |
|
|
310 |
|
|
1,108 |
|
|
541 |
|
||||
| Net Income Attributable to RPM International Inc. Stockholders | $ |
183,204 |
|
$ |
145,505 |
|
$ |
410,896 |
|
$ |
346,587 |
|
||||
| Earnings per share of common stock attributable to | ||||||||||||||||
| RPM International Inc. Stockholders: | ||||||||||||||||
| Basic | $ |
1.43 |
|
$ |
1.13 |
|
$ |
3.21 |
|
$ |
2.70 |
|
||||
| Diluted | $ |
1.42 |
|
$ |
1.13 |
|
$ |
3.19 |
|
$ |
2.69 |
|
||||
| Average shares of common stock outstanding - basic |
|
127,658 |
|
|
127,758 |
|
|
127,675 |
|
|
127,816 |
|
||||
| Average shares of common stock outstanding - diluted |
|
128,344 |
|
|
128,249 |
|
|
128,392 |
|
|
128,312 |
|
||||
| SUPPLEMENTAL SEGMENT INFORMATION | ||||||||||||||||
| IN THOUSANDS | ||||||||||||||||
| (Unaudited) | ||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| November 30, | November 30, | November 30, | November 30, | |||||||||||||
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
|||||
| Net Sales: | ||||||||||||||||
| CPG Segment | $ |
690,116 |
|
$ |
661,750 |
|
$ |
1,484,107 |
|
$ |
1,444,539 |
|
||||
| PCG Segment |
|
380,103 |
|
|
374,856 |
|
|
751,862 |
|
|
753,369 |
|
||||
| SPG Segment |
|
184,852 |
|
|
176,982 |
|
|
359,417 |
|
|
357,933 |
|
||||
| Consumer Segment |
|
590,247 |
|
|
578,687 |
|
|
1,218,721 |
|
|
1,248,291 |
|
||||
| Total | $ |
1,845,318 |
|
$ |
1,792,275 |
|
$ |
3,814,107 |
|
$ |
3,804,132 |
|
||||
| Income Before Income Taxes: | ||||||||||||||||
| CPG Segment | ||||||||||||||||
| Income Before Income Taxes (a) | $ |
105,652 |
|
$ |
98,398 |
|
$ |
262,650 |
|
$ |
238,850 |
|
||||
| Interest (Expense), Net (b) |
|
(898 |
) |
|
(555 |
) |
|
(1,364 |
) |
|
(3,951 |
) |
||||
| EBIT (c) |
|
106,550 |
|
|
98,953 |
|
|
264,014 |
|
|
242,801 |
|
||||
| MAP initiatives (d) |
|
2,010 |
|
|
660 |
|
|
4,450 |
|
|
1,409 |
|
||||
| Adjusted EBIT | $ |
108,560 |
|
$ |
99,613 |
|
$ |
268,464 |
|
$ |
244,210 |
|
||||
| PCG Segment | ||||||||||||||||
| Income Before Income Taxes (a) | $ |
63,773 |
|
$ |
61,502 |
|
$ |
128,065 |
|
$ |
106,323 |
|
||||
| Interest Income, Net (b) |
|
536 |
|
|
1,425 |
|
|
1,009 |
|
|
2,549 |
|
||||
| EBIT (c) |
|
63,237 |
|
|
60,077 |
|
|
127,056 |
|
|
103,774 |
|
||||
| MAP initiatives (d) |
|
1,719 |
|
|
793 |
|
|
2,492 |
|
|
16,147 |
|
||||
| Adjusted EBIT | $ |
64,956 |
|
$ |
60,870 |
|
$ |
129,548 |
|
$ |
119,921 |
|
||||
| SPG Segment | ||||||||||||||||
| Income Before Income Taxes (a) | $ |
16,694 |
|
$ |
10,145 |
|
$ |
31,897 |
|
$ |
26,542 |
|
||||
| Interest (Expense) Income, Net (b) |
|
(119 |
) |
|
104 |
|
|
(206 |
) |
|
203 |
|
||||
| EBIT (c) |
|
16,813 |
|
|
10,041 |
|
|
32,103 |
|
|
26,339 |
|
||||
| MAP initiatives (d) |
|
2,812 |
|
|
2,926 |
|
|
5,871 |
|
|
5,645 |
|
||||
| (Gain) on sale of a business (e) |
|
- |
|
|
- |
|
|
(237 |
) |
|
(1,123 |
) |
||||
| Legal contingency adjustment on a divested business (g) |
|
- |
|
|
3,953 |
|
|
- |
|
|
3,953 |
|
||||
| Adjusted EBIT | $ |
19,625 |
|
$ |
16,920 |
|
$ |
37,737 |
|
$ |
34,814 |
|
||||
| Consumer Segment | ||||||||||||||||
| Income Before Income Taxes (a) | $ |
88,311 |
|
$ |
98,066 |
|
$ |
196,461 |
|
$ |
229,895 |
|
||||
| Interest (Expense) Income, Net (b) |
|
(123 |
) |
|
869 |
|
|
(380 |
) |
|
1,619 |
|
||||
| EBIT (c) |
|
88,434 |
|
|
97,197 |
|
|
196,841 |
|
|
228,276 |
|
||||
| MAP initiatives (d) |
|
8,208 |
|
|
34 |
|
|
16,015 |
|
|
414 |
|
||||
| Business interruption insurance recovery (f) |
|
- |
|
|
(836 |
) |
|
- |
|
|
(11,128 |
) |
||||
| Adjusted EBIT | $ |
96,642 |
|
$ |
96,395 |
|
$ |
212,856 |
|
$ |
217,562 |
|
||||
| Corporate/Other | ||||||||||||||||
| (Loss) Before Income Taxes (a) | $ |
(61,448 |
) |
$ |
(72,287 |
) |
$ |
(115,640 |
) |
$ |
(136,632 |
) |
||||
| Interest (Expense), Net (b) |
|
(14,047 |
) |
|
(26,902 |
) |
|
(27,118 |
) |
|
(44,858 |
) |
||||
| EBIT (c) |
|
(47,401 |
) |
|
(45,385 |
) |
|
(88,522 |
) |
|
(91,774 |
) |
||||
| MAP initiatives (d) |
|
12,694 |
|
|
8,480 |
|
|
23,335 |
|
|
21,174 |
|
||||
| Adjusted EBIT | $ |
(34,707 |
) |
$ |
(36,905 |
) |
$ |
(65,187 |
) |
$ |
(70,600 |
) |
||||
| TOTAL CONSOLIDATED | ||||||||||||||||
| Income Before Income Taxes (a) | $ |
212,982 |
|
$ |
195,824 |
|
$ |
503,433 |
|
$ |
464,978 |
|
||||
| Interest (Expense) |
|
(23,177 |
) |
|
(30,348 |
) |
|
(47,611 |
) |
|
(62,166 |
) |
||||
| Investment Income, Net |
|
8,526 |
|
|
5,289 |
|
|
19,552 |
|
|
17,728 |
|
||||
| EBIT (c) |
|
227,633 |
|
|
220,883 |
|
|
531,492 |
|
|
509,416 |
|
||||
| MAP initiatives (d) |
|
27,443 |
|
|
12,893 |
|
|
52,163 |
|
|
44,789 |
|
||||
| (Gain) on sale of a business (e) |
|
- |
|
|
- |
|
|
(237 |
) |
|
(1,123 |
) |
||||
| Business interruption insurance recovery (f) |
|
- |
|
|
(836 |
) |
|
- |
|
|
(11,128 |
) |
||||
| Legal contingency adjustment on a divested business (g) |
|
- |
|
|
3,953 |
|
|
- |
|
|
3,953 |
|
||||
| Adjusted EBIT | $ |
255,076 |
|
$ |
236,893 |
|
$ |
583,418 |
|
$ |
545,907 |
|
||||
| (a) | The presentation includes a reconciliation of Income (Loss) Before Income Taxes, a measure defined by Generally Accepted Accounting Principles in |
||||||||||||||||
| (b) | Interest Income (Expense), Net includes the combination of Interest Income (Expense) and Investment Income (Expense), Net. | ||||||||||||||||
| (c) | EBIT is defined as earnings (loss) before interest and taxes, with Adjusted EBIT provided for the purpose of adjusting for items impacting earnings that are not considered by management to be indicative of ongoing operations. We evaluate the profit performance of our segments based on income before income taxes, but also look to EBIT, or adjusted EBIT, as a performance evaluation measure because Interest Income (Expense), Net is essentially related to corporate functions, as opposed to segment operations. For that reason, we believe EBIT is also useful to investors as a metric in their investment decisions. EBIT should not be considered an alternative to, or more meaningful than, income before income taxes as determined in accordance with GAAP, since EBIT omits the impact of interest and investment income or expense in determining operating performance, which represent items necessary to our continued operations, given our level of indebtedness. Nonetheless, EBIT is a key measure expected by and useful to our fixed income investors, rating agencies and the banking community all of whom believe, and we concur, that this measure is critical to the capital markets' analysis of our segments' core operating performance. We also evaluate EBIT because it is clear that movements in EBIT impact our ability to attract financing. Our underwriters and bankers consistently require inclusion of this measure in offering memoranda in conjunction with any debt underwriting or bank financing. EBIT may not be indicative of our historical operating results, nor is it meant to be predictive of potential future results. | ||||||||||||||||
| (d) | Reflects restructuring and other charges, which have been incurred in relation to our Margin Acceleration Plan ("MAP to Growth") and our Margin Achievement Plan ("MAP 2025"), together MAP initiatives, as follows: - Restructuring and other related expense, net: Includes charges incurred related to headcount reductions, facility closures and asset impairments recorded in "Restructuring Expense" on the Consolidated Statements of Income. Restructuring Expense totaled - Exited product lines: Sale of inventory that had previously been reserved for as a result of prior product line rationalization initiatives at PCG partially offset by inventory write-offs related to the discontinuation of certain product lines within our SPG segment. These amounts resulted from ongoing product line rationalization efforts in connection with our MAP initiatives. - ERP consolidation plan: Includes expenses incurred as a result of our stated goals to consolidate over 75 ERP systems across the organization to four ERP platforms, one per segment, as part of our overall MAP strategy as well as costs incurred for other decision support tools to facilitate our commercial initiatives related to MAP 2025 which have been incurred in all segments, including Corporate/Other, and have been recorded within "SG&A". - Professional fees: Includes expenses incurred to consolidate accounting locations, costs incurred to implement technologies and processes to drive improved sales mix and salesforce effectiveness and cost incurred to implement new global manufacturing methodologies with the goal of improving operating efficiency incurred within all of our segments and recorded within "SG&A". All of this spend is in support of stated MAP goals with the most significant expense incurred within our Corporate/Other segment. Included below is a reconciliation of the TOTAL CONSOLIDATED MAP initiatives. |
||||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||
| November 30, | November 30, | November 30, | November 30, | ||||||||||||||
2024 |
2023 |
2024 |
2023 |
||||||||||||||
Restructuring and other related expense, net |
$ |
11,299 |
$ |
2,232 |
|
$ |
22,053 |
$ |
18,660 |
|
|||||||
Exited product line |
|
- |
|
(295 |
) |
|
- |
|
(249 |
) |
|||||||
ERP consolidation plan |
|
4,005 |
|
3,418 |
|
|
8,949 |
|
6,561 |
|
|||||||
Professional fees |
|
12,139 |
|
7,538 |
|
|
21,161 |
|
19,817 |
|
|||||||
MAP initiatives |
$ |
27,443 |
$ |
12,893 |
|
$ |
52,163 |
$ |
44,789 |
|
|||||||
| (e) | Reflects gains associated with post-closing adjustments for the sale of the non-core furniture warranty business in the SPG segment in fiscal 2023 which have been recorded in "SG&A". | ||||||||||||||||
| (f) | Business interruption insurance recovery at our Consumer segment related to lost sales and incremental costs incurred during fiscal 2021 and 2022 as a result of an explosion at the plant of a significant alkyd resin supplier, which has been recorded in "SG&A". | ||||||||||||||||
| (g) | Represents incremental expense related to an adverse legal ruling from a case associated with a business that was divested in FY23. We strongly disagree with the legal ruling and have filed an appeal. | ||||||||||||||||
| SUPPLEMENTAL INFORMATION | ||||||||||||||||
| RECONCILIATION OF "REPORTED" TO "ADJUSTED" AMOUNTS | ||||||||||||||||
| (Unaudited) | ||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| November 30, | November 30, | November 30, | November 30, | |||||||||||||
2024 |
2023 |
2024 |
2023 |
|||||||||||||
| Reconciliation of Reported Earnings per Diluted Share to Adjusted Earnings per Diluted Share (All amounts presented after-tax): | ||||||||||||||||
| Reported Earnings per Diluted Share | $ |
1.42 |
|
$ |
1.13 |
$ |
3.19 |
|
$ |
2.69 |
|
|||||
| MAP initiatives (d) |
|
0.16 |
|
|
0.07 |
|
0.31 |
|
|
0.27 |
|
|||||
| (Gain) on sales of a business (e) |
|
- |
|
|
- |
|
- |
|
|
(0.01 |
) |
|||||
| Business interruption insurance recovery (f) |
|
- |
|
|
- |
|
- |
|
|
(0.07 |
) |
|||||
| Legal contingency adjustment on a divested business (g) |
|
- |
|
|
0.02 |
|
- |
|
|
0.02 |
|
|||||
| Investment returns (h) |
|
(0.02 |
) |
|
- |
|
(0.05 |
) |
|
(0.04 |
) |
|||||
| Income tax adjustments (i) |
|
(0.17 |
) |
|
- |
|
(0.22 |
) |
|
- |
|
|||||
| Adjusted Earnings per Diluted Share (j) | $ |
1.39 |
|
$ |
1.22 |
$ |
3.23 |
|
$ |
2.86 |
|
|||||
| (d) | Reflects restructuring and other charges, which have been incurred in relation to our Margin Acceleration Plan ("MAP to Growth") and our Margin Achievement Plan ("MAP 2025"), together MAP initiatives, as follows: - Restructuring and other related expense, net: Includes charges incurred related to headcount reductions, facility closures and asset impairments recorded in "Restructuring Expense" on the Consolidated Statements of Income. Restructuring Expense totaled - Exited product lines: Sale of inventory that had previously been reserved for as a result of prior product line rationalization initiatives at PCG partially offset by inventory write-offs related to the discontinuation of certain product lines within our SPG segment. These amounts resulted from ongoing product line rationalization efforts in connection with our MAP initiatives. - ERP consolidation plan: Includes expenses incurred as a result of our stated goals to consolidate over 75 ERP systems across the organization to four ERP platforms, one per segment, as part of our overall MAP strategy as well as costs incurred for other decision support tools to facilitate our commercial initiatives related to MAP 2025 which have been incurred in all segments, including Corporate/Other, and have been recorded within "SG&A". - Professional fees: Includes expenses incurred to consolidate accounting locations, costs incurred to implement technologies and processes to drive improved sales mix and salesforce effectiveness and cost incurred to implement new global manufacturing methodologies with the goal of improving operating efficiency incurred within all of our segments and recorded within "SG&A". All of this spend is in support of stated MAP goals with the most significant expense incurred within our Corporate/Other segment. |
|||||||||
| (e) | Reflects gains associated with post-closing adjustments for the sale of the non-core furniture warranty business in the SPG segment in fiscal 2023 which have been recorded in "SG&A". | |||||||||
| (f) | Business interruption insurance recovery at our Consumer segment related to lost sales and incremental costs incurred during fiscal 2021 and 2022 as a result of an explosion at the plant of a significant alkyd resin supplier, which has been recorded in "SG&A". | |||||||||
| (g) | Represents incremental expense related to an adverse legal ruling from a case associated with a business that was divested in FY23. We strongly disagree with the legal ruling and have filed an appeal. | |||||||||
| (h) | Investment returns include realized net gains and losses on sales of investments and unrealized net gains and losses on equity securities, which are adjusted due to their inherent volatility. Management does not consider these gains and losses, which cannot be predicted with any level of certainty, to be reflective of the Company's core business operations. | |||||||||
| (i) | ||||||||||
| (j) | Adjusted Diluted EPS is provided for the purpose of adjusting diluted earnings per share for items impacting earnings that are not considered by management to be indicative of ongoing operations. | |||||||||
| CONSOLIDATED BALANCE SHEETS | ||||||||||||
| IN THOUSANDS | ||||||||||||
| (Unaudited) | ||||||||||||
| November 30, 2024 | November 30, 2023 | May 31, 2024 | ||||||||||
| Assets | ||||||||||||
| Current Assets | ||||||||||||
| Cash and cash equivalents | $ |
268,683 |
|
$ |
262,746 |
|
$ |
237,379 |
|
|||
| Trade accounts receivable |
|
1,343,207 |
|
|
1,290,788 |
|
|
1,468,208 |
|
|||
| Allowance for doubtful accounts |
|
(52,671 |
) |
|
(57,448 |
) |
|
(48,763 |
) |
|||
| Net trade accounts receivable |
|
1,290,536 |
|
|
1,233,340 |
|
|
1,419,445 |
|
|||
| Inventories |
|
995,262 |
|
|
1,102,815 |
|
|
956,465 |
|
|||
| Prepaid expenses and other current assets |
|
326,155 |
|
|
320,106 |
|
|
282,059 |
|
|||
| Total current assets |
|
2,880,636 |
|
|
2,919,007 |
|
|
2,895,348 |
|
|||
| Property, Plant and Equipment, at Cost |
|
2,615,862 |
|
|
2,407,579 |
|
|
2,515,847 |
|
|||
| Allowance for depreciation |
|
(1,238,798 |
) |
|
(1,154,468 |
) |
|
(1,184,784 |
) |
|||
| Property, plant and equipment, net |
|
1,377,064 |
|
|
1,253,111 |
|
|
1,331,063 |
|
|||
| Other Assets | ||||||||||||
| Goodwill |
|
1,341,129 |
|
|
1,311,653 |
|
|
1,308,911 |
|
|||
| Other intangible assets, net of amortization |
|
512,568 |
|
|
533,659 |
|
|
512,972 |
|
|||
| Operating lease right-of-use assets |
|
353,706 |
|
|
324,272 |
|
|
331,555 |
|
|||
| Deferred income taxes |
|
35,945 |
|
|
25,201 |
|
|
33,522 |
|
|||
| Other |
|
182,022 |
|
|
170,474 |
|
|
173,172 |
|
|||
| Total other assets |
|
2,425,370 |
|
|
2,365,259 |
|
|
2,360,132 |
|
|||
| Total Assets | $ |
6,683,070 |
|
$ |
6,537,377 |
|
$ |
6,586,543 |
|
|||
| Liabilities and Stockholders' Equity | ||||||||||||
| Current Liabilities | ||||||||||||
| Accounts payable | $ |
672,921 |
|
$ |
650,771 |
|
$ |
649,650 |
|
|||
| Current portion of long-term debt |
|
6,060 |
|
|
5,548 |
|
|
136,213 |
|
|||
| Accrued compensation and benefits |
|
213,999 |
|
|
204,921 |
|
|
297,249 |
|
|||
| Accrued losses |
|
35,126 |
|
|
34,881 |
|
|
32,518 |
|
|||
| Other accrued liabilities |
|
365,781 |
|
|
358,234 |
|
|
350,434 |
|
|||
| Total current liabilities |
|
1,293,887 |
|
|
1,254,355 |
|
|
1,466,064 |
|
|||
| Long-Term Liabilities | ||||||||||||
| Long-term debt, less current maturities |
|
2,019,846 |
|
|
2,246,834 |
|
|
1,990,935 |
|
|||
| Operating lease liabilities |
|
304,517 |
|
|
278,028 |
|
|
281,281 |
|
|||
| Other long-term liabilities |
|
244,891 |
|
|
298,257 |
|
|
214,816 |
|
|||
| Deferred income taxes |
|
102,279 |
|
|
97,349 |
|
|
121,222 |
|
|||
| Total long-term liabilities |
|
2,671,533 |
|
|
2,920,468 |
|
|
2,608,254 |
|
|||
| Total liabilities |
|
3,965,420 |
|
|
4,174,823 |
|
|
4,074,318 |
|
|||
| Stockholders' Equity | ||||||||||||
| Preferred stock; none issued |
|
- |
|
|
- |
|
|
- |
|
|||
| Common stock (outstanding 128,568; 128,872; 128,629) |
|
1,286 |
|
|
1,289 |
|
|
1,286 |
|
|||
| Paid-in capital |
|
1,164,301 |
|
|
1,141,970 |
|
|
1,150,751 |
|
|||
| Treasury stock, at cost |
|
(915,818 |
) |
|
(830,402 |
) |
|
(864,502 |
) |
|||
| Accumulated other comprehensive (loss) |
|
(580,763 |
) |
|
(589,690 |
) |
|
(537,290 |
) |
|||
| Retained earnings |
|
3,047,021 |
|
|
2,637,387 |
|
|
2,760,639 |
|
|||
| Total RPM International Inc. stockholders' equity |
|
2,716,027 |
|
|
2,360,554 |
|
|
2,510,884 |
|
|||
| Noncontrolling interest |
|
1,623 |
|
|
2,000 |
|
|
1,341 |
|
|||
| Total equity |
|
2,717,650 |
|
|
2,362,554 |
|
|
2,512,225 |
|
|||
| Total Liabilities and Stockholders' Equity | $ |
6,683,070 |
|
$ |
6,537,377 |
|
$ |
6,586,543 |
|
|||
| CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||
| IN THOUSANDS | ||||||||
| (Unaudited) | ||||||||
| Six Months Ended | ||||||||
| November 30, | November 30, | |||||||
|
2024 |
|
|
2023 |
|
|||
| Cash Flows From Operating Activities: | ||||||||
| Net income | $ |
412,004 |
|
$ |
347,128 |
|
||
| Adjustments to reconcile net income to net | ||||||||
| cash provided by operating activities: | ||||||||
| Depreciation and amortization |
|
92,743 |
|
|
84,177 |
|
||
| Deferred income taxes |
|
(31,252 |
) |
|
(5,574 |
) |
||
| Stock-based compensation expense |
|
13,549 |
|
|
17,147 |
|
||
| Net (gain) on marketable securities |
|
(10,684 |
) |
|
(6,226 |
) |
||
| Net loss on sales of assets and businesses |
|
- |
|
|
3,623 |
|
||
| Other |
|
(335 |
) |
|
4,007 |
|
||
| Changes in assets and liabilities, net of effect | ||||||||
| from purchases and sales of businesses: | ||||||||
| Decrease in receivables |
|
122,603 |
|
|
272,262 |
|
||
| (Increase) decrease in inventory |
|
(42,981 |
) |
|
37,243 |
|
||
| (Increase) decrease in prepaid expenses and other |
|
(11,193 |
) |
|
21,260 |
|
||
| current and long-term assets | ||||||||
| Increase (decrease) in accounts payable |
|
34,364 |
|
|
(11,806 |
) |
||
| (Decrease) in accrued compensation and benefits |
|
(84,929 |
) |
|
(53,980 |
) |
||
| Increase in accrued losses |
|
2,827 |
|
|
8,332 |
|
||
| Increase in other accrued liabilities |
|
30,792 |
|
|
50,188 |
|
||
| Cash Provided By Operating Activities |
|
527,508 |
|
|
767,781 |
|
||
| Cash Flows From Investing Activities: | ||||||||
| Capital expenditures |
|
(100,732 |
) |
|
(89,300 |
) |
||
| Acquisition of businesses, net of cash acquired |
|
(85,649 |
) |
|
(15,404 |
) |
||
| Purchase of marketable securities |
|
(23,533 |
) |
|
(22,057 |
) |
||
| Proceeds from sales of marketable securities |
|
12,802 |
|
|
13,796 |
|
||
| Other |
|
(1,424 |
) |
|
1,326 |
|
||
| Cash (Used For) Investing Activities |
|
(198,536 |
) |
|
(111,639 |
) |
||
| Cash Flows From Financing Activities: | ||||||||
| Additions to long-term and short-term debt |
|
25,086 |
|
|
- |
|
||
| Reductions of long-term and short-term debt |
|
(134,022 |
) |
|
(449,485 |
) |
||
| Cash dividends |
|
(124,514 |
) |
|
(113,325 |
) |
||
| Repurchases of common stock |
|
(35,000 |
) |
|
(25,000 |
) |
||
| Shares of common stock returned for taxes |
|
(16,150 |
) |
|
(20,689 |
) |
||
| Payment of acquisition-related contingent consideration |
|
(1,122 |
) |
|
(1,082 |
) |
||
| Other |
|
(689 |
) |
|
(713 |
) |
||
| Cash (Used For) Financing Activities |
|
(286,411 |
) |
|
(610,294 |
) |
||
| Effect of Exchange Rate Changes on Cash and | ||||||||
| Cash Equivalents |
|
(11,257 |
) |
|
1,111 |
|
||
| Net Change in Cash and Cash Equivalents |
|
31,304 |
|
|
46,959 |
|
||
| Cash and Cash Equivalents at Beginning of Period |
|
237,379 |
|
|
215,787 |
|
||
| Cash and Cash Equivalents at End of Period | $ |
268,683 |
|
$ |
262,746 |
|
||
View source version on businesswire.com: https://www.businesswire.com/news/home/20250107944373/en/
Matt Schlarb, Vice President – Investor Relations & Sustainability, at 330-220-6064 or mschlarb@rpminc.com.
Source: RPM International Inc.
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