RPM International Inc. recently reported financial results for its fiscal 2019 third quarter ended February 28. Net sales reportedly grew 3.4% to $1.14 billion in the quarter from $1.1 billion in the fiscal 2018 third quarter. Net income was $14.2 million, compared to $40.2 million in the year-ago period.
“Our top-line sales growth was solid during the third quarter, which is seasonally our slowest due to winter weather conditions across many of the countries we serve,” said Frank C. Sullivan, chairman and CEO. “Organic growth was 4.3% and acquisitions contributed 2.1%, while foreign exchange was a significant headwind that reduced sales by 3%. Price increases helped to offset higher raw material costs, which have risen for seven straight quarters, as well as higher costs for freight, labor and energy. International markets remained challenged and resulted in reduced operating earnings from most geographies around the world,”