RPM today reported fiscal fourth-quarter net income up 66.4% year-on-year (YOY), to $108.8 million, on sales up 9.1%, to $1.28 billion. On an adjusted basis—excluding some charges during last year’s quarter—net income rose 14.1% YOY. Earnings totaled 80 cts/share, ahead of analysts’ consensus estimate of 78 cts/share, as reported by Thomson Reuters. RPM’s fiscal fourth-quarter ended on 31 May. Industrial segment sales grew 8.5% YOY, to $769.2 million, while segment Ebit rose 15.2%, to $99.2 million. RPM was “heartened” by the segment’s turnaround in Europe, and also experienced continuing “slow, but steady improvement” in its North American construction business, says chairman and CEO Frank Sullivan. The company also completed the restructuring of its roofing division, which has been delivering sub-par results, but is now “focused on a return to growth,” he adds.
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