RPM International Inc (NYSE:RPM) shares are trading higher after the company reported first-quarter results.
Sales declined 2.1% Y/Y to $1.97 billion, missing the consensus of $2.015 billion. Despite volume growth at CPG and PCG and modestly positive pricing, foreign currency headwinds and volume declines at Consumer Group and SPG outweighed these gains.
Geographically, sales declined slightly in North America, while European sales were impacted by a weak economic environment, foreign currency headwinds, and divestitures.
Emerging markets, especially Latin America, faced foreign currency challenges, but sales grew in Asia/Pacific and Africa/Middle East, driven by infrastructure spending and high-performance building projects.
Adjusted EPS was $1.84, beating the consensus of $1.75.
In the quarter, operating cash flow stood at $248.1 million, led by ...
