Oct. 6, 2022
RPM Has Strong Fiscal 2023 Quarter
RPM International had net sales of $1.93 billion for the first quarter of its fiscal 2023 year, down 17.1 per cent compared to net sales of $1.65 billion in the first quarter of fiscal 2022. Net income for the quarter was $169 million, down 25.6 per cent versus $135 million in the year-ago period. Adjusted earnings before taxes were $275 million compared to $207 million, down 33.1 per cent year-over-year. Sales for the construction products group segment was up 13.2 per cent year over year; sales in the performance coatings group segment were up 19.2 per cent; sales in the specialty products group segment were up 11.3 per cent; and sales in the consumer group segment were up 22.5 per cent.