Fiscal 2024 Second-Quarter Financial Results
Fiscal 2024 Second-Quarter Financial Results
Challenging market conditions in specialty OEM end markets
SPECIALTY
PRODUCTS GROUP
Sales
Q2
Q2
($ in millions, except margins)
2024
2023
% Change Sales Components
$177.0
$212.1
-16.6%
Organic
-14.6%
$10.0
$27.4
-63.4%
Acquisitions/
Divestitures
-2.7%
$16.9
$30.0
-43.5%
LEGEND BRANDS
DayGlo
Mantrose-Haeuser Co., Inc.
RPM Coatings Group
Industrial
EBIT¹
RPM
profile food
• КОРСОАТ.
TCI
FINISHWORKS
WHERE YOUR
INGREDIENTS
WOOD
FINISHES
Group
Adjusted EBIT¹
PETTIT
morrells PROCHEM.
Radiant
MOHAWK
Adjusted EBIT Margin¹
DRIEAZ kírker
RPM
NatureSeal
WELD PRO
MODERN RECREATIONAL
MR VALVTECT
TECHNOLOGIES
9.6%
14.1%
-450 bps
F/X
+0.7%
NatureSeal
For Guacamole & Avocado
Habite browning and maintains freshness
Blend of vitamins, minerals and organic acid
Suffte free, gluten-free, GMO-free
GRAS Ingredients
New1.25 lbs.d
.
Weak demand in specialty OEM end markets, particularly those with residential exposure
Non-core furniture warranty business divestiture in Q3-23 reduced sales and adjusted EBIT
Challenging comparisons for disaster restoration business due to elevated hurricane
response activity in Q2-23, which did not repeat
Adjusted EBIT decline driven by the sales decline and unfavorable deleveraging, partially
offset by expense reduction actions taken in Q4-23
Investments in long-term growth initiatives weighed on EBIT margins
Adjusted EBIT excluded a $4.0 million expense related to an adverse legal ruling for a
divested business
(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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