Stock Alert: RPM International At New High Following Q4 Results

(RTTNews) - Shares of specialty coatings, sealants, and building materials maker RPM International Inc. (RPM) are up more than 5% Monday morning following better-than-expected fourth-quarter results. The stock touched a new high of $86.48 this morning.

The company reported earnings on an adjusted basis for the fourth quarter of $1.13 per share, beating the average estimate of analysts polled by Thomson Reuters at $1.01. This compares with $1.24 per share last year.

Fourth-quarter net sales were $1.46 billion compared to the $1.60 billion reported in the year-ago period. The consensus estimate was for $1.4 billion.

"Our fiscal 2021 first-quarter outlook is for net sales growth in low single digits and adjusted EBIT growth of 20% or more. After bottoming out in April and May, business has been trending better in the first quarter as many markets have re-opened," stated RPM chairman and CEO Frank C. Sullivan.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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