Fiscal 2024 Second-Quarter Financial Results
Fiscal 2024 Second-Quarter Financial Results
CPG generates record sales and adjusted EBIT
CONSTRUCTION
PRODUCTS GROUP
TREMCO Dryvit
NewBrick
Dryvit Nudura
EUCLID CHEMICAL
illbruck
Q2
Q2
($ in millions, except margins)
2024
2023
% Change Sales Components
Sales
$661.8
$612.4
+8.1%
Organic
+6.1%
EBIT¹
$99.0
$77.8
+27.1%
Acquisitions/
Divestitures
+0.6%
Adjusted EBIT¹
Adjusted EBIT Margin¹
$99.6
$79.0
+26.0%
15.1%
12.9%
+220 bps
F/X
+1.4%
RPM
Flowcrete
or the work or your les
Nullifire
Víapol
Vandex
KEY RESIN COMPANY
•
Record Q2 sales led by growth in concrete admixtures, which benefited from
increased demand from infrastructure and reshoring projects and market share
gains
• Strength in high-performance building construction and renovation
•
Growth in Europe, driven by new management team with more focused sales
strategy
Record Q2 adjusted EBIT from MAP 2025 benefits, favorable mix and improved
fixed-cost leverage
Variable compensation increased due to improved financial performance, partially
offset by expense reduction actions implemented at the end of FY23
(1) EBIT, Adjusted EBIT, and Adjusted EBIT Margin are non-GAAP financial measures. Refer to Appendix for
reconciliations between GAAP and non-GAAP measures.
Investor Presentation | Jan. 11, 2024
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