RPM International Q4 Results Top View, But Guides 2016 Below View

(RTTNews) - Specialty chemical products company RPM International, Inc. (RPM) reported Monday a profit for the fourth quarter that grew 18 percent from last year, reflecting double-digit industrial sales growth. Both earnings per share and quarterly revenues topped analysts' expectations. The company also provided earnings guidance for full-year 2015, below Street view.

"We are pleased with RPM's fourth-quarter performance, especially in view of the headwinds posed by the very strong U.S. dollar and sluggish conditions in many international regions, including much of Europe and Latin America. Despite these challenges, our operating companies continue to compete and win in their respective markets, helping to drive our growth," Chairman and CEO Frank Sullivan said.

The Medina, Ohio-based company reported net income attributable to the company of $127.99 million or $0.94 per share for the fourth quarter, higher than $108.78 million or $0.80 per share in the prior-year quarter.

On average, nine analysts polled by Thomson Reuters expected the company to report earnings of $0.84 per share for the quarter. Analysts' estimates typically exclude one-time items.

Net sales for the quarter increased 7.5 percent to $1.37 billion from $1.28 billion in the same quarter last year, and topped six Wall Street analysts' consensus estimate of $1.36 billion by a whisker.

Net sales for the industrial segment grew 14.2 percent to $878.49 million, while consumer segment net sales decreased 2.5 percent to $494.67 million from the year-ago quarter.

Looking ahead to fiscal 2016, the company expects earnings of about $2.55, on projected consumer segment sales increase of 4 to 5 percent, and industrial segment sales growth of 8 to 10 percent.

Street is currently looking for full-year 2016 earnings of $2.73 per share on annual sales growth of 8.2 percent to $4.97 billion.

RPM closed Friday's regular trading session at $45.97, down $0.66 on a volume of 1.13 million shares.