RPM International Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended November 30, 2015; Reaffirms Earnings Guidance for the Full Year of 2016
January 06, 2016 at 11:50 am
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RPM International Inc. reported unaudited consolidated earnings results for the second quarter and six months ended November 30, 2015. For the quarter, the company reported net sales of $1.16 billion, up 7.9% over the $1.07 billion reported a year ago. Income before income taxes was $120.261 million against $105.750 million a year ago. Consolidated EBIT (earnings before interest and taxes) increased 17.9%, to $141.6 million from $120.1 million in the fiscal 2015 second quarter. Net income was up 19.6%, to $83.4 million from $69.8 million in the fiscal 2015 second quarter. Earnings per diluted share increased 19.2%, to $0.62 from $0.52 a year ago.
For the six months period, the company reported that net sales improved 5.4%, to $2.40 billion from $2.28 billion during the first six months of fiscal 2015. Income before income taxes was $262.462 million against $253.828 million a year ago. Consolidated EBIT increased 6.5%, to $302.2 million from $283.8 million in the year-ago first half. Net income was up 8.5%, to $183.2 million from $168.8 million in the fiscal 2015 first half. Diluted earnings per share were $1.36, up 9.7% from $1.24 a year ago. Cash from operations was $167.1 million, compared to $55.3 million a year ago. Capital expenditures were $31.3 million compared to $26.5 million during the first half of last year.
For the full year, the company reaffirmed guidance for earnings per diluted share of $2.50.
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, 2015; Reaffirms Earnings Guidance for the Full Year of 2016