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RPM International Inc Up 3.6% To $92.92 After Earnings Beat

Wednesday, October 05, 2022 10:36 AM | InvestorsObserver Analysts
RPM International Inc Up 3.6% To $92.92 After Earnings Beat

RPM International Inc. (RPM) reported better than expected earnings this morning for Q1 2023.

Analyst expectations for RPM International Inc earnings per share (EPS) were at $1.34, with the company surpassing those estimates with a reported EPS of $1.47, leading to a positive surprise of $0.13 per share (10%). RPM International Inc's earnings rose 36% year-over-year as the firm reported an EPS of $1.08 in its year-ago quarter. The positive annual growth shows the Basic Materials company is performing well amid recent economic conditions.

Revenues were upbeat at $1.9 billion. That is an increase of 17.09% in revenues from the year-ago report and is 2.77% higher than consensus estimates set at $1.9 billion.

The stock is up 3.6% to $92.92 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

RPM International Inc has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 93, putting RPM International Inc in the top 25% of stocks. The firm set a 52-week low on June 16, 2022 at $74.56 and set a 52-week high on January 3, 2022 at $101.48.

RPM International Inc manufactures and sells a variety of paints, coatings, and adhesives. The firm organizes itself into four segments based on product type. The construction products group sells coatings, roofing, insulation, and other products to distributers, contractors, and end consumers globally. The performance coatings group produces coatings that are used in construction and industrial applications like floorings and corrosion control. The consumer group sells paint, finishes, and similar products to individual consumers through hardware and craft stores. The specialty products group sells a variety of products ranging from niche applications of the other groups, to marine finishes, to edible food colorings. The majority of revenue comes from North America.

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