logo
Plus   Neg
Share
Email

RPM International Guides Q2 Net Sales Growth Below Estimates - Quick Facts

While reporting financial results for the first quarter of fiscal 2021 on Wednesday, RPM International Inc. (RPM) provided sales growth guidance for the second quarter. The company also maintained its previously provided directions for the full-year 2021.

For the second quarter, the company now projects consolidated sales growth in the low- to mid-single digits with strong leverage to the bottom line for more than 20% adjusted EBIT growth, which is more in line with recent quarters prior to the outbreak of Covid-19.

On average, 10 analysts polled by Thomson Reuters expect the company to report a net sales growth of 0.1 percent to $1.40 billion for the quarter.

Looking ahead fiscal 2021, the company said it is not providing earnings guidance, due to the continued economic uncertainty related to the impacts of COVID-19 and the upcoming U.S. election.

However, the company continues to anticipate its Construction Products Group and Performance Coatings Group to experience sales declines for the first three quarters and then turn positive in the fourth quarter. Its Consumer Group will continue its sales momentum into fiscal 2021. The Specialty Products Group is expected to face negative sales comparisons during the first two quarters, which should turn positive on the back half.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Santa Cruz Bicycles LLC has recalled certain model year 2020 bicycles with aluminum frames citing fall risks, according to the U.S. Consumer Product Safety Commission. The recall involves about 2,900 units of model year 2020 Auminum Santa Cruz and Juliana Bicycles. In addition, about 216 were sold in Canada. AstraZeneca is mulling an additional global trial to confirm the 90% efficacy rate of its Covid-19 vaccine candidate at lower dosage, Bloomberg news quoted Chief Executive Officer Pascal Soriot as saying. In an interview, Soriot noted that instead of adding the trial to an ongoing U.S. process, the company might launch a fresh study to evaluate efficacy of lower dosage of its vaccine that perform U.S. airline Delta Air Lines, Inc. and its Italian codeshare partner Alitalia are planning to launch quarantine-free, COVID-free flights between U.S. and Europe through new testing protocols, starting in December. In a statement, Delta said it has signed deals with airports and governments eliminating quarantine requirements on COVID-tested flights connecting Atlanta and Rome.
RELATED NEWS
Follow RTT