RPM International Inc. recently reported financial results for its fiscal 2025 first quarter ended August 31, 2024. The company reported first-quarter net sales of $1,969 million in the three months that ended August 31, 2024, down 2.1% compared to the $2,012 million compared to the same period in 2023. The company’s diluted earnings per share for the first quarter of fiscal 2025 was $1.77, an increase from $1.56 in the fiscal first quarter of 2023. 

Geographically, sales declined modestly in North America, while European sales declined due to a soft economic environment, foreign currency translation headwinds and divestitures. Emerging markets faced foreign currency translation headwinds, particularly in Latin America, although Asia / Pacific and Africa / Middle East still grew sales, aided by spending on infrastructure and high-performance building projects.

Frank C. Sullivan, RPM chairman and CEO said, “By executing well on things within our control, our associates navigated a mixed economic backdrop to generate record adjusted EBIT for the 11th consecutive quarter. This included continued implementation of MAP 2025 operational improvement initiatives, and leveraging our portfolio of products, services, and entrepreneurial culture to capture growth opportunities where they existed. Our Construction Products and Performance Coatings groups both generated organic growth, and our Specialty Products and Consumer groups expanded adjusted EBIT margins despite continued weakness in end markets tied to housing. In addition to record profitability, MAP 2025 initiatives allowed us to continue making structural improvements to working capital that sustained our trend of strong cash flow generation.”

The company reports that the fiscal 2025 second-quarter outlook calls for flat sales growth and mid-single digit adjusted EBIT growth. RPM reports that its fiscal 2025 full-year outlook is unchanged, with revenue growth of low-single digits and adjusted EBIT growth of mid-single digits to low-double digits.

Additionally, the RPM announced that its board of directors declared a regular quarterly cash dividend of $0.51 per share, payable on October 31, 2024, to stockholders of record as of October 18, 2024. This payment represents a 10.9% increase over the $0.46 quarterly cash dividend paid at this time last year and is the 51st consecutive year the company has increased its cash dividend.

“Over the past year, our associates built upon our legacy of generating growth throughout economic cycles, which is allowing us to increase our dividend for the 51 st consecutive year. They achieved this through the successful implementation of MAP 2025 operational improvement initiatives, focusing on repair and maintenance demand, and nimbly capturing new growth opportunities, which allowed us to generate record profitability and cash flow,” said Sullivan.

Learn more about RPM at www.rpminc.com.