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RPM earnings rise, subsidiary agrees to settle asbestos claims

11:14 AM MDT | July 28, 2014 | Vincent Valk

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...

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