RPM Reports Record Results for Fiscal 2018 Third Quarter
In the third quarter, net sales grew 7.8% to $1.1 billion.
RPM International Inc. recently reported record sales and net income for its fiscal 2018 third quarter ended February 28. In the third quarter, net sales grew 7.8% to $1.1 billion, from $1 billion in the fiscal 2017 third quarter.
Industrial segment sales increased 9.2% to $569.2 million from $521.4 million in the fiscal 2017 third quarter. Organic sales improved 2.2%, while acquisitions reportedly added 2.8%.
Sales in RPM’s consumer segment increased 6.4% to $363.4 million from $341.4 million in the fiscal 2017 third quarter. Organic sales improved 0.7%, while acquisitions added 4.2%.
Third-quarter sales in the company’s specialty segment increased 6.5% to $170.1 million from $159.7 million a year ago. Organic sales reportedly increased 2.7% and acquisitions added 2.2%.
Nine-month net sales grew 8.6% to $3.76 billion from $3.47 billion a year ago. Net income was $252.1 million compared to $53.8 million in the year-ago period.
“RPM’s operating performance for the third quarter was outstanding, despite severe, continued industry-wide headwinds from higher raw material costs,” said Frank C. Sullivan, RPM chairman and CEO. “We continue to generate exceptional EBIT leverage, reflecting the early success of cost savings initiatives we began implementing last year and rigorous SG&A spending discipline we have exercised throughout this year.”
For more information, visit www.rpminc.com.