IHS Chemical Week

RPM's earnings rise on higher sales, fewer charges

11:42 AM MDT | October 9, 2013

RPM today reported first-quarter net income more than double that of the year-ago quarter, at $103.1 million, on sales up 11.3% year-on-year (YOY), to $1.17 billion. Earnings totaled 77 cts/share, beating analysts’ consensus estimate of 71 cts/share, as reported by Thomson Reuters (New York). RPM’s fiscal first-quarter ended on 31 August. The year-ago quarter included $56.3 million in special charges, most of which was related to a write-down of RPM’s investments in Kemrock Industries and Exports (Vadodara, India). Excluding these charges, sales were up 11%...

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