RTTNews | Oct 7, 2020 07:06AM EDT

07:06 Wednesday, October 7, 2020 (RTTNews.com) - While reporting financial results for the first quarter of fiscal 2021 on Wednesday, RPM International Inc. (RPM) provided sales growth guidance for the second quarter. The company also maintained its previously provided directions for the full-year 2021.

For the second quarter, the company now projects consolidated sales growth in the low- to mid-single digits with strong leverage to the bottom line for more than 20% adjusted EBIT growth, which is more in line with recent quarters prior to the outbreak of Covid-19.

On average, 10 analysts polled by Thomson Reuters expect the company to report a net sales growth of 0.1 percent to $1.40 billion for the quarter.

Looking ahead fiscal 2021, the company said it is not providing earnings guidance, due to the continued economic uncertainty related to the impacts of COVID-19 and the upcoming U.S. election.

However, the company continues to anticipate its Construction Products Group and Performance Coatings Group to experience sales declines for the first three quarters and then turn positive in the fourth quarter. Its Consumer Group will continue its sales momentum into fiscal 2021. The Specialty Products Group is expected to face negative sales comparisons during the first two quarters, which should turn positive on the back half.

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