Why RPM Shares Are Shooting Higher Today
Portfolio Pulse from Nabaparna Bhattacharya
RPM International Inc. reported Q4 FY23 sales growth of 1.6% YoY to $2.016 billion, beating the consensus of $1.970 billion. Adjusted EPS of $1.36 also exceeded the consensus of $1.30. The company attributed these results to efficient operations and growth opportunities. Sales grew in North America, Latin America, Asia/Pacific, Africa, and the Middle East, but declined in Europe. The company expects Q1 sales and EBIT to increase in the low-single-digit and high-single-digit percentage range respectively. For FY24, sales and EBIT are expected to increase in the mid-single-digit and low-double-digit to mid-teen percentage range respectively.
July 26, 2023 | 2:28 pm
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RPM International reported better-than-expected Q4 FY23 results, with sales and EPS beating consensus. The company expects sales and EBIT to increase in Q1 and FY24.
RPM International's better-than-expected Q4 FY23 results and positive outlook for Q1 and FY24 are likely to boost investor confidence and potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100