RPM Has Strong Sales Despite Supply Chain Issues

RPM International Inc. had sales of $1.27 billion in the third quarter of fiscal 2021, an increase of 8.1 per cent over sales of $1.17 billion in the third quarter of 2020. The company says sales were strong despite supply chain issues due to winter storm Uri. Net income for the quarter was $38.2 million, up 222.6 per cent compared to net income of $11.9 million in the year-ago period. Income before taxes was $55.9 million compared to $16.3 million. RPM’s consolidated earnings before interest and taxes were up 48.2 per cent to $65.4 million compared to $44.1 million reported in the fiscal 2020 third quarter. The construction products group net sales increased 6.4 per cent year-over-year; the performance coatings group net sales decreased 11.4 per cent; the consumer group net sales increased 19.8 per cent; and the specialty products group net sales increased 14.7 per cent.