RPM International Q3 Profit Rises, Beats Estimates - Update

(RTTNews) - (Adds Outlook)

For the fourth-quarter, RPM International Inc. (RPM) expects adjusted EBIT to rise in the high-single-digit percentage range compared with the prior-year. Sales are expected to be around flat with with last year.

For the full year, adjusted EBIT is expected to increase near the midpoint of the previous outlook, an increase in the low-double-digit to mid-teen percentage range from last year. Annual sales are projected to increase near the midpoint of the previous outlook, an increase in the low-single-digit percentage range from a year ago.

For the third quarter, RPM International reported a profit that increased from last year and beat the Street estimates.

The company's earnings came in at $61.199 million, or $0.47 per share. This compares with $26.974 million, or $0.21 per share, in last year's third quarter.

Excluding items, RPM International Inc reported adjusted earnings of $0.52 per share for the period.

Analysts on average had expected the company to earn $0.46 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.4% to $1.522 billion from $1.516 billion last year.

RPM International Inc earnings at a glance (GAAP) :

-Earnings (Q3): $61.199 Mln. vs. $26.974 Mln. last year. -EPS (Q3): $0.47 vs. $0.21 last year. -Revenue (Q3): $1.522 Bln vs. $1.516 Bln last year.