RPM International Q1 Results Top Estimate; Guides Q2 Sales
(RTTNews) - RPM International, Inc. (RPM) reported Wednesday that net income attributable to RPM for the first quarter grew to $169.01 million or $1.31 per share from $134.58 million or $1.04 per share in the prior-year quarter.
Excluding special items, adjusted earnings for the quarter was $1.47 per share, compared to $1.08 per share in the year-ago quarter.
Net sales for the quarter increased 17.1 percent to $1.93 billion from $1.65 billion in the same quarter last year.
On average, 11 analysts polled by Thomson Reuters expected the company to report earnings of $1.33 per share on net sales of $1.89 billion for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to the second quarter, the company now projects consolidated sales growth of 9 to 12 percent and consolidated adjusted EBIT growth of 30 to 40 percent. The Street is looking for net sales of $1.79 billion for the quarter.
RPM International Q4 Adj. EPS Tops Estimates, But Sales Meet
RPM International Q2 Adj. EPS Meets Estimates, But Sales Miss
RPM International Q4 Adj. EPS Misses Estimates; Guides Q1 Sales
Swiss Market Ends Moderately Lower
European Markets Close Weak After Cautious Session
Canadian Market Down More Than 0.5% On Profit Taking
U.S. New Home Sales Pull Back From Upwardly Revised Level In July
