The company says the market environment was dominated by the consequences of the war in Ukraine, and in particular by increased raw material and energy prices.
President and CEO, Tim Knavish, commented that PPG made good progress on its focus to achieve full operating margin recovery, as year-over-year earnings improved in both segments despite more acute pandemic-related demand disruptions in China.
RPM reports its fiscal 2023 second-quarter sales were driven by increased pricing in response to continued inflation. In addition, volume grew in businesses that are benefiting from reshoring and infrastructure spending, and material supply improved through insourcing and qualifying new suppliers.
RPM’s last cash dividend increase of 5% in October 2022 marked the company’s 49th consecutive year of increased cash dividends paid to its stockholders, which places RPM in a category of less than half of 1% of all publicly traded U.S. companies.
The report studies products across powder, solvent-based, and water-based; resins across acrylic, alkyd, epoxy, polyester, and polyurethane; and the end users, both architectural and industrial. It focuses on many areas including market segmentation and coverage, the cumulative impact of COVID-19 and the 2022 Russia Ukraine conflict, the competitive strategic window, market share analysis, company usability profiles, and more.