RPM International : Reconciliation of Non-GAAP for 1st Quarter 2021
October 07, 2020 at 08:55 am EDT
Share
First Quarter Results
Fiscal Year 2021
RPM International Inc.
Consolidated Statements of Income
($ in thousands, except per share data)
Fiscal Year Ended May 31,
2020
%
2019
%
% Change
Net Sales
$
5,506,994
$
5,564,551
(1.0)
Cost of Sales
3,414,139
62.0
3,476,231
62.5
Gross Profit
2,092,855
38.0
2,088,320
37.5
SG&A
1,548,653
28.1
1,596,043
28.7
Restructuring Expense
33,108
0.6
42,310
0.8
Other Intangible Asset Impairments
-
4,190
0.1
Other Expense, Net
12,066
0.2
4,270
0.1
EBIT*
499,028
9.1
441,507
7.9
13.0
Interest Expense
101,003
1.8
102,392
1.8
Investment (Income), Net
(9,739)
(0.2)
(730)
(0.0)
Income Before Taxes
407,764
7.4
339,845
6.1
Provision for Income Taxes
102,682
1.9
72,158
1.3
Net Income
305,082
5.5
267,687
4.8
14.0
Less: Net Income Attributable
to Noncontrolling Interests
697
0.0
1,129
0.0
Net Income Attributable to RPM
Stockholders
$
304,385
5.5
$
266,558
4.8
14.2
Diluted EPS
$
2.34
$
2.01
16.4
*EBIT is defined as earnings (loss) before interest and taxes. Management uses EBIT, as defined, as a measure of operating performance, since interest expense, net, essentially relates to corporate functions, as opposed to segment operations.
10/07/2020
2
Consolidated Statements of Income
($ in thousands, except per share data) (Unaudited)
Three Months Ended August 31,
2020
%
2019
%
% Change
Net Sales
$
1,606,670
$
1,472,764
9.1
Cost of Sales
953,015
59.3
898,010
61.0
Gross Profit
653,655
40.7
574,754
39.0
SG&A
395,953
24.6
400,566
27.2
Restructuring Expense
4,233
0.3
6,622
0.4
Other Expense, Net
3,118
0.2
1,785
0.1
EBIT*
250,351
15.6
165,781
11.3
51.0
Interest Expense
21,745
1.4
28,317
1.9
Investment (Income), Net
(12,763)
(0.8)
(5,385)
(0.4)
Income Before Taxes
241,369
15.0
142,849
9.7
Provision for Income Taxes
60,584
3.8
36,353
2.5
Net Income
180,785
11.3
106,496
7.2
69.8
Less: Net Income Attributable
to Noncontrolling Interests
190
0.0
308
0.0
Net Income Attributable to RPM
Stockholders
$
180,595
11.2
$
106,188
7.2
70.1
Diluted EPS
$
1.39
$
0.82
69.5
*EBIT is defined as earnings (loss) before interest and taxes. Management uses EBIT, as defined, as a measure of operating performance, since interest expense, net, essentially relates to corporate functions, as opposed to segment operations.
10/07/2020
3
Reconciliations of Non-GAAP Measures
To GAAP Measures
RPM International Inc.
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RPM International Inc. published this content on 07 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 October 2020 12:54:05 UTC
RPM International Inc., through its subsidiaries, manufacture, market and sell various specialty chemical product lines, including specialty paints, infrastructure rehab and repair products, protective coatings, roofing systems, sealants and adhesives, focusing on the maintenance and improvement needs of the industrial, specialty and consumer markets. It operates through four segments: Construction Products Group (CPG), Performance Coatings Group (PCG), Consumer Group (Consumer) and Specialty Products Group (SPG). Its CPG segment includes construction sealants and adhesives, coatings and chemicals, roofing systems, concrete admixture and repair products, building envelope solutions, insulated cladding, flooring systems, and weatherproofing solutions. Its PCG segment includes flooring solutions, corrosion control and fireproofing coatings, infrastructure repair systems, fiberglass reinforced plastic gratings, drainage systems, and raised-flooring systems for outdoor environments.
RPM INTERNATIONAL INC. 
