RPM Reports Record Fiscal 2024 First-Quarter Results
RPM International Inc. reported its financial results for first-quarter 2024, which ended August 31, 2023. Effective June 1, 2023, the company modified its organizational structure to manage and report certain businesses in Asia/Pacific in PCG. The businesses generate approximately $100 million in annual revenue and were previously part of Construction Product Group (CPG). Starting with the first fiscal quarter of 2024, results for Performance Coatings Group (PCG) and CPG reflect the updated structure for both current and prior periods presented. These changes have no impact on consolidated results.
“RPM associates demonstrated another quarter of strong execution and generated record first-quarter sales and all-time record adjusted EBIT despite a mixed macroeconomic environment and challenging prior-year comparisons,” said Frank C. Sullivan, RPM chairman and CEO. “These results represent the seventh consecutive quarter we have achieved record quarterly sales and adjusted EBIT. This impressive growth was driven by our associates’ focus on MAP 2025 margin achievement initiatives and leveraging our competitive strengths. Additionally, we continue making progress on improving our working capital, which resulted in all-time record cash flow from operating activities.”