RPM International Expects Sales Growth to Decelerate in 3Q | RPM Message Board Posts


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Msg  11 of 17  at  1/5/2023 11:32:52 AM  by

jerrykrause


RPM International Expects Sales Growth to Decelerate in 3Q

 

RPM International Inc. (RPM)

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MarketWatch

   
  

RPM International Expects Sales Growth to Decelerate in 3Q

 By Dean Seal
 
 

RPM International Inc. is expecting sales to continue growing in its fiscal third quarter, but at a slower pace than seen in previous quarters.

The maker of coatings, sealants and building materials said Thursday that it expects sales to increase in a low- to mid-single-digit percentage range in its winter quarter.

That's a smaller jump than the company has logged in each of its last five quarters. RPM's top line rose 9.3% in the most recently completed quarter, which ended on Nov. 30, after growing at a double-digit rate in the four preceding quarters.

Chief Executive Frank Sullivan said higher interest rates have negatively impacted construction activity and existing home sales. Some customers are also moderating purchases and normalizing their inventories as their supply chains stabilize.

"As a result, certain RPM businesses have experienced reduced customer demand, a trend that is expected to continue throughout the third quarter," he said.

RPM is also expecting foreign currency translation and inflation to cause its earnings growth to slow "or possibly modestly decline for the first time in five quarters," Mr. Sullivan said.

 


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