By Denny Jacob
RPM International said quarterly earnings rose as volumes improved in all four of its business segments, though the company forecast sales would be flat in the current period.
The coatings, sealants and building-materials maker logged second-quarter net income attributable to shareholders of $183.2 million, or $1.42 a share, up from $145.5 million, or $1.13 a share, a year earlier.
Stripping out one-time items, earnings for the quarter ending Nov. 30 came in at $1.39 a share. Analysts polled by FactSet expected $1.34 a share.
Sales rose to $1.85 billion from $1.79 billion. Analysts expected $1.79 billion.
Chief Executive Frank Sullivan said sales in the consumer and specialty products groups grew as they expanded market share, residential end markets showed signs of stabilization and weather conditions were favorable for most of the quarter.
RPM forecast sales to be flat from a year earlier in the third quarter. The company maintained its outlook of low-single digit percentage growth in sales for fiscal 2025.
Shares of RPM slipped 3.3% to $116.50 in premarket trading.
Sullivan said progress in its efforts to grow and other initiatives underway were being offset by end-market pressure caused by winter weather that is harsher than the prior year.
He added that consistently elevated mortgage rates and unfavorable weather conditions have pressured sales in its consumer and specialty products groups segments.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
January 07, 2025 07:40 ET (12:40 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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