(RTTNews) - While reporting financial results for the fourth quarter and fiscal 2020 on Monday, RPM International Inc. (RPM) provided sales growth guidance for the first quarter of fiscal 2021.
After easing of lockdown restrictions, RPM expects to resume growth and expects net sales for the first quarter to in low single digits.
On average, 6 analysts polled by Thomson Reuters expect the company to report a net sales decline of 6.7 percent to $1.37 billion for the quarter.
Looking ahead fiscal 2021, the company said it is not providing earnings guidance at this time, due to the unprecedented volatility in recent monthly sales and continued economic uncertainty related to the length and severity of the Covid-19 health crisis.
However, the company anticipates 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 has continued 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.