RPM International Inc. recently reported financial results for its fiscal 2022 fourth-quarter and year ended May 31, 2022. For the fiscal 2022 full-year, sales increased 9.8% to a record $6.71 billion. The company reported fiscal 2022 full-year net income of $491.5 million, while income before income taxes was $606.8 million. Fourth-quarter net sales were $1.98 billion, an increase of 13.7% compared to the $1.74 billion reported in the year-ago period. Fourth-quarter net income increased 27.4% to $199.0 million compared to net income of $156.1 million in the prior-year period.
In the Construction Products Group (CPG), net sales were $745.9 million during the fiscal 2022 fourth-quarter, which was an increase of 18.5% compared to fiscal 2021 fourth-quarter net sales of $629.4 million. The sales increase was driven by organic growth of 19.9% and growth from acquisitions of 1.6%, while foreign currency translation headwinds reduced sales by 3.0%
Net sales in the Performance Coatings Group (PCG) were $329.4 million during the fiscal 2022 fourth-quarter, which was an increase of 16.3% compared to the $283.3 million reported a year ago. Organic sales increased 17.4%, and acquisitions contributed 1.8%. Foreign currency translation was a 2.9% headwind.
The Specialty Products Group (SPG) reported record net sales of $225.8 million during the fourth-quarter of fiscal 2022, which was an increase of 11.4% compared to net sales of $202.8 million in the fiscal 2021 fourth-quarter. Organic sales increased 12.2%, while acquisitions contributed 0.5% to sales.
The Consumer Group reported record net sales of $682.8 million during the fourth-quarter of fiscal 2022, an increase of 8.6% compared to net sales of $628.9 million reported in the fourth-quarter of fiscal 2021. Organic sales increased 10.0%, while foreign currency translation headwinds decreased sales by 1.4%.
Learn more at www.RPMinc.com.