RPM International Expects Results for Third Quarter at Higher End of Previous Guidance
MEDINA, OH — RPM International Inc. announced that it expects its financial results for its fiscal third quarter ended Feb. 29, 2020, to be at the higher end of its guidance provided on Jan. 8, 2020. At that time, the company said that it expected revenue for the fiscal third quarter to be up 2.5% to 4%, adjusted EBIT growth in the 25% to 30% range, and adjusted diluted EPS in the high-teens to low-20-cent range. The company noted that the positive momentum of the 2020 MAP to Growth operating improvement plan contributed to good earnings leverage in the third quarter.
“As the impact of the COVID-19 outbreak continues to evolve, RPM’s top priorities include protecting the health and well-being of our associates and their family members, supporting our local communities to control the spread of the virus, and maintaining the continuity and success of our business operations,” said Frank C. Sullivan, RPM Chairman and Chief Executive Officer. “While the COVID-19 outbreak continues globally, our supply chain and business operations remain strong, our March operating results are solid, and we continue to meet the changing needs of our customers in a timely manner during this unprecedented period,” stated Sullivan. “I want to thank all of our associates for their hard work and dedication as they provide superior service to our customers as we navigate through these challenging times together.”
The company will report its fiscal third-quarter results on April 8, 2020, prior to the market open.