RPM International Q2 Adj. EPS Meets Estimates, But Sales Miss
(RTTNews) - RPM International, Inc. (RPM) reported Thursday that net income attributable to RPM for the second quarter grew to $145.51 million or $1.13 per share from $131.34 million or $1.02 per share in the prior-year quarter.
Excluding special items, adjusted earnings for the quarter was $1.22 per share, compared to $1.10 per share in the year-ago quarter.
Net sales for the quarter remained relatively flat at $1.79 billion.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.22 per share on net sales of $1.84 billion for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to the third quarter, the company now projects consolidated sales to be flat compared to prior-year record results and consolidated adjusted EBIT growth of 25 to 35 percent. The Street is looking for net sales of $1.59 billion for the quarter.
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