RPM International Inc. recently reported record sales, net income and diluted earnings per share for its fiscal 2018 second quarter. Sales reportedly increased 10.5% and net income of $95.5 million, compared to a year-ago net loss of $70.9 million.
Net sales of $1.32 billion were up 10.5% over the $1.19 billion reported a year ago. Organic sales reportedly improved 4.2% and acquisition growth added 4.7%.
“We were very pleased with RPM’s results during the fiscal second quarter,” said Frank C. Sullivan, chairman and CEO. “Our strategically balanced business model performed as intended with strength in our industrial and specialty businesses offsetting weakness in our consumer segment. Sales growth was strong across all three of our business segments, with a balance of organic and acquisition growth. We are also seeing the benefits of last year’s product line acquisitions and cost reduction efforts on improved leverage, which more than offset higher raw material costs that have negatively impacted gross profit margins.”
For more information, visit www.rpminc.com.