Fiscal 2024 Second-Quarter Financial Results
Fiscal 2024 Second-Quarter Financial Results | Consolidated
Record Q2 sales and adjusted EBIT
($ in millions, except
per share amounts)
Q2
2024
Q2
2023
% Change
Sales
EBIT¹
$1,792
$1,792
Up slightly
$221
$196
+12.6%
$237
$215
+10.4%
Adjusted EBIT¹
Adjusted EBIT Margin¹
13.2%
12.0%
+120 bps
Net Income
Diluted EPS
Adjusted Diluted EPS1
$146
$131
+10.8%
$1.13
$1.02
+10.8%
$1.22
$1.10
+10.9%
(1) EBIT, Adjusted EBIT, Adjusted EBIT Margin and Adjusted Diluted EPS are non-GAAP financial
measures. Refer to Appendix for reconciliations between GAAP and non-GAAP measures.
RPM
KEY POINTS
Record Q2 sales with volume growth in CPG & PCG
and positive pricing in all segments
Sales include a -0.3% organic decline, +0.5% from
F/X and -0.2% from divestitures / acquisitions
SG&A increase driven by incentives to sell higher
margin products, investments in long-term growth
initiatives and inflation, partially offset by expense
reduction actions taken in Q4-23
Record Q2 adjusted EBIT included 320 bp gross
margin improvement, driven by MAP 2025,
including the commodity cycle, positive mix and
fixed-cost leverage at CPG / PCG
$592.4 million debt paydown over last 12 months
helped limit impact of higher interest rates
Investor Presentation | Jan. 11, 2024
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