RPM International Expects Q4 2024 Sales To Be Approximately Flat And For 2024 Expects Revenue Growth Near Midpoint Of Previous Outlook Of Up Low-Single Digits
Portfolio Pulse from Benzinga Newsdesk
RPM International forecasts Q4 2024 sales to be roughly flat, with specific segments like CPG seeing low- to mid-single-digit growth, while SPG and Consumer Group sales are expected to decline. For FY 2024, RPM anticipates sales and adjusted EBIT to increase near the midpoint of its previous low-single-digit and low-double-digit to mid-teen growth projections, respectively.
April 04, 2024 | 10:51 am
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RPM International expects Q4 2024 sales to be flat, with a mixed performance across segments, but anticipates meeting mid-range targets for FY 2024 sales and EBIT growth.
The flat sales projection for Q4 2024 indicates a short-term stagnation, which might not excite investors. However, the expectation to meet mid-range targets for FY 2024 for both sales and EBIT growth suggests a positive outlook, balancing short-term concerns with medium-term optimism. The mixed performance across different segments indicates sector-specific challenges and opportunities, which could lead to a neutral short-term impact on RPM's stock price.
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