RPM Now Sees Q3 Results To Be Below Prior Guidance

(RTTNews) - RPM International Inc. (RPM) said that it now expects its financial results for the third quarter ended February 28, 2021 to be below its prior guidance, due to the impact of severe winter weather across the U.S.

Previously, the company had expected third-quarter revenue to be up in the mid-single-digit range and adjusted earnings before interest and taxes (EBIT) to grow by 30% or more.

The company now expects sales to be up in the low single digits with adjusted EBIT growth of 10% to 15%, with the severe winter weather that has disrupted North American transportation, distribution and supply chains, likely causing multiple lost shipping days.