RTTNews | Jul 26, 2021 07:30AM EDT

07:29 Monday, July 26, 2021 (RTTNews.com) - RPM International Inc. (RPM), a specialty coatings, sealants and building materials company, reported Monday that its fourth-quarter net income increased 42.8 percent to $156.1 million from $109.3 million last year. Earnings per share were $1.20, an increase of 42.9 percent from last year's $0.84.

Adjusted earnings per share were $1.28, compared to $1.13 a year ago.

Fiscal 2021 fourth-quarter net sales were $1.74 billion, an increase of 19.6 percent from the prior year's $1.46 billion.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $1.27 per share on sales of $1.68 billion for the quarter. Analysts' estimates typically exclude special items.

Looking ahead for the first quarter, the company expects consolidated sales to increase in the low- to mid-single digits compared to the fiscal 2021 first quarter, when sales grew 9 percent creating a difficult year-over-year comparison.

First-quarter consolidated adjusted EBIT is expected to decrease 25 percent to 30 percent versus a difficult prior-year comparison, when adjusted EBIT in last year's first quarter was up nearly 40 percent.

Moving to the second quarter of fiscal 2022, consolidated adjusted EBIT is expected to be roughly flat versus another difficult prior-year comparison, when consolidated adjusted EBIT was up nearly 30 percent.

The company further said it remains committed to achieving long-term goal of a 16 percent EBIT margin.

Read the original article on RTTNews ( https://www.rttnews.com/3211775/rpm-q4-results-top-estimates-sees-lower-adj-ebit-higher-sales-in-q1.aspx)

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