RPM International Guides Q3 Net Sales Growth Above Estimates - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Wednesday, RPM International Inc. (RPM) provided sales growth guidance for the third quarter.

For the third quarter, the company now projects consolidated sales growth in the mid-single digits with strong leverage to the bottom line for adjusted EBIT growth of 30% or more.

On average, 9 analysts polled by Thomson Reuters expect the company to report a net sales growth of 2.8 percent to $1.21 billion for the quarter.

The company added that the third quarter typically provides modest sales activity each year because it falls during the winter months when painting and construction activity slow.

It expects sales to be flat to negative in the Construction Products Group and negative sales growth to continue in the Performance Coatings Group. The Consumer Group is expected to continue its double-digit sales growth and will benefit on both the top and bottom line from the recent acquisition of Ali Industries. It also anticipates positive sales growth from the Specialty Products Group to continue into the third quarter

Looking ahead, sales in all four segments should be up in the fiscal 2021 fourth quarter due to an easier comparison to last year's fourth quarter, which is when the economic interruption caused by the pandemic was most severe.