What's Going On With Specialty Coatings Company RPM Stock Today?
Portfolio Pulse from Lekha Gupta
RPM International Inc. (NYSE:RPM) reported third-quarter FY24 results with a slight increase in sales and adjusted EPS beating consensus. Despite positive pricing and volume growth in certain segments, challenges like lower DIY consumer takeaway and tough comparables in disaster restoration offset revenue growth. Geographically, sales growth was strongest in emerging markets. Adjusted EBIT rose significantly, and the company returned $210.1 million to stockholders. RPM expects flat sales and an increase in adjusted EBIT for Q4 FY24. RPM shares are down 3.42%. Investors can also gain exposure through PYZ and REGL ETFs.
April 04, 2024 | 2:02 pm
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NEGATIVE IMPACT
RPM International reported a slight sales increase and an EPS beat in Q3 FY24, with strong adjusted EBIT growth and significant returns to stockholders. However, shares dropped 3.42%.
Despite positive earnings and sales growth, RPM's stock price fell, likely due to mixed market conditions and investor reactions to the overall financial performance and future outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Investors can gain exposure to RPM International through the Invesco Dorsey Wright Basic Materials Momentum ETF (NASDAQ:PYZ), which may see indirect impact from RPM's performance.
As an ETF that includes RPM International, PYZ may experience indirect effects from RPM's financial performance, though the impact is likely to be diluted across the ETF's diversified portfolio.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
ProShares S&P MidCap 400 Dividend Aristocrats ETF (BATS:REGL) offers another avenue for investment in RPM International, potentially affected by RPM's recent performance.
REGL, as an ETF that includes RPM, may see an indirect impact from RPM's earnings report and stock price movement, though the effect is likely to be minor due to the ETF's broad exposure.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50