RPM International Now Expects FY24 Sales Growth Of Low-single-digit (vs. Mid-single Digits Prior) And Adjusted EBIT Growth Is Reaffirmed At Low-Double Digits To Mid-Teens
Portfolio Pulse from Benzinga Newsdesk
RPM International has updated its FY24 sales growth forecast to low-single-digit, a decrease from its previous mid-single digits expectation. However, the company reaffirms its adjusted EBIT growth projection of low-double digits to mid-teens.

January 04, 2024 | 11:51 am
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RPM International has lowered its sales growth forecast for FY24, which may cause concern among investors, but reaffirmed EBIT growth targets could provide some reassurance.
The revision in sales growth forecast by RPM International to a lower range may initially disappoint investors, potentially putting downward pressure on the stock. However, the reaffirmation of EBIT growth targets suggests that the company is still expecting strong profitability, which could mitigate negative sentiment. The net impact is likely to be neutral in the short term as the market digests both pieces of information.
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