MEDINA, OH – RPM International Inc. recently reported financial results for its fiscal 2022 first quarter ended August 31, 2021. The company reported an increase in net sales while net income decreased compared to the same period last year.
Fiscal 2022 first-quarter net sales increased 2.7% to $1.65 billion compared to the $1.61 billion reported a year ago. First-quarter net income was $134.6 million, a decrease of 25.5% compared to the $180.6 million reported in the year-ago period, and diluted earnings per share (EPS) were $1.04, a decrease of 25.2% compared to $1.39 reported in the year-ago quarter. Income before income taxes (IBT) was $181.5 million compared to $241.4 million reported in the fiscal 2021 first quarter. RPM’s consolidated earnings before interest and taxes (EBIT) decreased 21.4% to $196.8 million compared to $250.4 million reported in the fiscal 2021 first quarter.