RPM International, Inc. (RPM) announced on Wednesday that its net income attributable to RPM for the fourth quarter increased to $227.69 million, or $1.77 per share, up from $201.08 million, or $1.56 per share, in the same period last year.
Excluding special items, the adjusted earnings for the quarter rose to $1.84 per share, compared to $1.64 per share in the corresponding quarter of the previous year.
For the quarter, net sales saw a decline of 2.1 percent, falling to $1.97 billion from $2.01 billion in the previous year's quarter. This sales decrease included a 0.9 percent organic drop, a 0.1 percent decrease from divestitures net of acquisitions, and a 1.1 percent decline due to foreign currency translation.
Analysts surveyed by Thomson Reuters had anticipated earnings of $1.75 per share on net sales of $2.02 billion for the quarter. These estimates typically exclude special items.
Looking forward, the company forecasts flat sales for the second quarter and anticipates low-single-digit sales growth for fiscal year 2025. Market analysts are projecting net sales of $1.82 billion for the next quarter and $7.47 billion for the year.
