RPM International Q4 Adj. EPS Misses Estimates; Guides Q1 Sales

(RTTNews) - RPM International, Inc. (RPM) reported Monday that net income attributable to RPM for the fourth-quarter grew to $199.0 million or $1.54 per share from $156.1 million or $1.20 per share in the prior-year quarter. Excluding special items, adjusted earnings for the quarter was $1.42 per share.

Net sales for the quarter increased 13.7 percent to $1.98 billion from $1.74 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.44 per share on net sales of $1.97 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the first quarter of fiscal 2023, the company now projects consolidated sales growth in the mid-teens, with sales growth in the teens in all four of its operating segments.

The Street is looking for net sales of $1.81 billion for the quarter.