RPM International Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended November 30, 2016; Revises Earnings Guidance for the Fiscal Year Ending May 31, 2017
January 05, 2017 at 11:45 am
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RPM International Inc. reported unaudited consolidated earnings results for the second quarter and six months ended November 30, 2016. For the quarter, the company reported net sales of USD 1,190,770,000 compared to USD 1,155,984,000 a year ago. Loss before income taxes was USD 106,857,000 compared to income before income taxes of USD 120,261,000 a year ago. Net loss was USD 70,256,000 compared to net income of USD 84,149,000 a year ago. Net loss attributable to the company's stockholders was USD 70,926,000 compared to net income attributable to the company's stockholders of USD 83,433,000 a year ago. Diluted loss per share was USD 0.54 compared to diluted earnings per share of USD 0.62 a year ago. Adjusted earnings per diluted share was USD 0.52 compared to USD 0.55 a year ago. Consolidated earnings before interest and taxes, EBIT, adjusted EBIT decreased 10.2% to USD 114.2 million from USD 127.1 million last year due to higher overall SG&A expenses. Adjusted net income of USD 70.5 million decreased 4.9% from last year's USD 74.2 million.
For the six months, the company reported net sales of USD 2,442,833,000 compared to USD 2,398,510,000 a year ago. Loss before income taxes was USD 41,618,000 compared to income before income taxes of USD 262,462,000 a year ago. Net income was USD 43,138,000 compared to net income of USD 184,511,000 a year ago. Net income attributable to the company's stockholders was USD 41,843,000 compared to USD 183,248,000 a year ago. Diluted earnings per share was USD 0.32 compared to USD 1.36 a year ago. Adjusted earnings per diluted share were USD 1.35 compared to USD 1.29 a year ago. Cash provided by operating activities was USD 158,732,000 compared to USD 167,073,000 a year ago. Capital expenditures were USD 48,049,000 compared to USD 31,295,000 a year ago. Purchase of marketable securities was USD 25,142,000 compared to USD 14,213,000 a year ago.
The company revised earnings guidance for the fiscal year ending May 31, 2017. The company expected EPS in the range of USD 1.54 to USD 1.64 against previous guidance of USD 2.68 to USD 2.78.
RPM International Inc., through its subsidiaries, manufacture, market and sell various specialty chemical product lines, including specialty paints, infrastructure rehab and repair products, protective coatings, roofing systems, sealants and adhesives, focusing on the maintenance and improvement needs of the industrial, specialty and consumer markets. It operates through four segments: Construction Products Group (CPG), Performance Coatings Group (PCG), Consumer Group (Consumer) and Specialty Products Group (SPG). Its CPG segment includes construction sealants and adhesives, coatings and chemicals, roofing systems, concrete admixture and repair products, building envelope solutions, insulated cladding, flooring systems, and weatherproofing solutions. Its PCG segment includes flooring solutions, corrosion control and fireproofing coatings, infrastructure repair systems, fiberglass reinforced plastic gratings, drainage systems, and raised-flooring systems for outdoor environments.
RPM International Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended November 30, 2016; Revises Earnings Guidance for the Fiscal Year Ending May 31, 2017
RPM INTERNATIONAL INC. 
