10.02.24
RPM International Inc. reported record financial results for its fiscal 2025 first quarter ended Aug. 31, 2024.
First-quarter net sales were $1.97 billion, down 2.1% from the prior year. Record first-quarter net income was $227.7 million, record diluted EPS was $1.77, and record EBIT was $303.9 million. Record first-quarter adjusted diluted EPS of $1.84 increased 12.2% over prior year and record adjusted EBIT increased 6.3% to $328.3 million. Strong first-quarter cash provided by operating activities was $248.1 million.
Fiscal 2025 full-year outlook is unchanged with revenue growth of low-single digits and adjusted EBIT growth of mid-single digits to low-double digits.
“By executing well on things within our control, our associates navigated a mixed economic backdrop to generate record adjusted EBIT for the 11 th consecutive quarter,” said Frank C. Sullivan, RPM chairman and CEO. “This included continued implementation of MAP 2025 operational improvement initiatives, and leveraging our portfolio of products, services, and entrepreneurial culture to capture growth opportunities where they existed.
“Our Construction Products and Performance Coatings groups both generated organic growth, and our Specialty Products and Consumer groups expanded adjusted EBIT margins despite continued weakness in end markets tied to housing,” Sullivan added. “In addition to record profitability, MAP 2025 initiatives allowed us to continue making structural improvements to working capital that sustained our trend of strong cash flow generation.”
First-quarter net sales were $1.97 billion, down 2.1% from the prior year. Record first-quarter net income was $227.7 million, record diluted EPS was $1.77, and record EBIT was $303.9 million. Record first-quarter adjusted diluted EPS of $1.84 increased 12.2% over prior year and record adjusted EBIT increased 6.3% to $328.3 million. Strong first-quarter cash provided by operating activities was $248.1 million.
Fiscal 2025 full-year outlook is unchanged with revenue growth of low-single digits and adjusted EBIT growth of mid-single digits to low-double digits.
“By executing well on things within our control, our associates navigated a mixed economic backdrop to generate record adjusted EBIT for the 11 th consecutive quarter,” said Frank C. Sullivan, RPM chairman and CEO. “This included continued implementation of MAP 2025 operational improvement initiatives, and leveraging our portfolio of products, services, and entrepreneurial culture to capture growth opportunities where they existed.
“Our Construction Products and Performance Coatings groups both generated organic growth, and our Specialty Products and Consumer groups expanded adjusted EBIT margins despite continued weakness in end markets tied to housing,” Sullivan added. “In addition to record profitability, MAP 2025 initiatives allowed us to continue making structural improvements to working capital that sustained our trend of strong cash flow generation.”
