Rpm International Inc. · NYSE:RPM
Rpm International — Q4 FY2019 Earnings Presentation
18 slides from Rpm International's earnings presentation, Jul 22, 2019
Slide 1: Fourth Quarter Results Fiscal Year 2019
Fourth Quarter Results Fiscal Year 2019 RPM International Inc.
Slide 2: Consolidated Statements of Income (Fiscal Year)
Consolidated Statements of Income (As Reported) ($ in thousands, except per share and percent data) Fiscal Year Ended May 31, % 2019 % 2018 % Change Net Sales $ 5,564,551 $ 5,321,643 4.6 Cost of Sales 3,302,644 59.4 3,140,431 59.0 Gross Profit 2,261,907 40.6 2,181,212 41.0 SG&A 1,769,630 31.8 1,663,
Slide 3: Consolidated Statements of Income (Quarter)
Consolidated Statements of Income (As Reported) ($ in thousands, except per share and percent data) Unaudited Three Months Ended May 31, 2019 % 2018 % % Change Net Sales $ 1,601,401 $ 1,558,156 2.8 Cost of Sales 917,645 57.3 939,460 60.3 Gross Profit 683,756 42.7 618,696 39.7 SG&A 470,926 29.4 466,1
Slide 4: Reconciliations of Non-GAAP Measures To GAAP Measures
Reconciliations of Non-GAAP Measures To GAAP Measures RPM International Inc.
Slide 5: Free Cash Flow Generation (Non-GAAP Measure)
Free Cash Flow Generation (Non-GAAP Measure) ($ in thousands) Fiscal Year Ended May 31, 2019 2018 2017 2016 2015 Cash Flows from Operating Activities: Net income $ 267,687 $ 339,257 $ 184,671 $ 357,458 $ 228,328 Depreciation and amortization 141,742 128,499 116,773 111,039 99,176 Working capital and
Slide 6: Adjustments Detail
Adjustments Detail (a) Inventory related charges reflect the following in fiscal 2019; charges at our Consumer segment resulting from business process changes related to MAP to Growth resulting in more proactive management of inventory, a true-up of prior year inventory write-offs at our Consumer se
Slide 7: EBIT (Non-GAAP Measure): RPM Consolidated, Quarter
EBIT* (Non-GAAP Measure): RPM Consolidated (As Reported) ($ in thousands, except per share and percent data) (Unaudited) Three months ended May 31, 2019 2018 Income Before Income Taxes $ 176,850 $ 117,885 Add: Interest Expense, Net 27,730 17,140 EBIT* (non-GAAP measure) 204,580 135,025 Inventory-rel
Slide 8: EBIT (Non-GAAP Measure): RPM Consolidated, Year
EBIT* (Non-GAAP Measure): RPM Consolidated (As Reported) ($ in thousands, except per share and percent data) (Unaudited) Year Ended May 31, 2019 2018 Income Before Income Taxes $ 339,845 $ 417,048 Add: Interest Expense, Net 101,662 84,105 EBIT* (non-GAAP measure) 441,507 501,153 Inventory-related ch
Slide 9: Reconciliation of "Reported" to "Adjusted" Net Income
Reconciliation of "Reported" to "Adjusted" Net Income ($ in thousands) (Unaudited) Three Months Ended May 31, Year Ended May 31, 2019 2018 2019 2018 Net Income, As Reported $ 133,380 $ 85,664 $ 266,558 $ 337,770 Adjustments, pre-tax 38,233 59,001 131,172 52,168 Tax impact of adjustments (8,351) (5,7
Slide 10: Reconciliation of "Reported" to "Adjusted" EPS (Quarter)
Reconciliation of "Reported" to "Adjusted" EPS (Unaudited) Three Months Ended May 31, 2019 2018 Reconciliation of Reported Earnings per Diluted Share to Adjusted Earnings per Diluted Share (All amounts presented after-tax): Reported Earning per Diluted Share $ 1.02 $ 0.63 Inventory-related charges (
Slide 11: Reconciliation of "Reported" to "Adjusted" EPS (Year)
Reconciliation of "Reported" to "Adjusted" EPS (Unaudited) Year Ended May 31, 2019 2018 Reconciliation of Reported Earnings per Diluted Share to Adjusted Earnings per Diluted Share (All amounts presented after-tax): Reported Earning per Diluted Share $ 2.01 $ 2.50 Inventory-related charges (a) 0.12
Slide 12: EBIT (Non-GAAP Measure): Industrial Segment, Quarter
EBIT* (Non-GAAP Measure): Industrial Segment (As Reported) ($ in thousands, except per share and percent data) (Unaudited) Three months ended May 31, 2019 2018 Income Before Income Taxes $ 108,416 $ 96,390 Add: Interest Expense, Net 1,449 2,935 EBIT* (non-GAAP measure) 109,865 99,325 Inventory-relat
Slide 13: EBIT (Non-GAAP Measure): Industrial Segment, Year
EBIT* (Non-GAAP Measure): Industrial Segment (As Reported) ($ in thousands, except per share and percent data) (Unaudited) Year Ended May 31, 2019 2018 Income Before Income Taxes $ 243,234 $ 270,792 Add: Interest Expense, Net 8,815 10,507 EBIT* (non-GAAP measure) 252,049 281,299 Inventory-related ch
Slide 14: EBIT (Non-GAAP Measure): Consumer Segment, Quarter
EBIT* (Non-GAAP Measure): Consumer Segment (As Reported) ($ in thousands, except per share and percent data) (Unaudited) Three months ended May 31, 2019 2018 Income Before Income Taxes $ 99,255 $ 25,298 Add: Interest Expense, Net 107 220 EBIT* (non-GAAP measure) 99,362 25,518 Inventory-related charg
Slide 15: EBIT (Non-GAAP Measure): Consumer Segment, Year
EBIT* (Non-GAAP Measure): Consumer Segment (As Reported) ($ in thousands, except per share and percent data) (Unaudited) Year Ended May 31, 2019 2018 Income Before Income Taxes $ 215,002 $ 171,874 Add: Interest Expense, Net 481 713 EBIT* (non-GAAP measure) 215,483 172,587 Inventory-related charges (
Slide 16: EBIT (Non-GAAP Measure): Specialty Segment, Quarter
EBIT* (Non-GAAP Measure): Specialty Segment (As Reported) ($ in thousands, except per share and percent data) (Unaudited) Three months ended May 31, 2019 2018 Income Before Income Taxes $ 26,514 $ 32,909 Add: Interest Expense, Net (82) (592) EBIT* (non-GAAP measure) 26,432 32,317 Restructuring Expen
Slide 17: EBIT (Non-GAAP Measure): Specialty Segment, Year
EBIT* (Non-GAAP Measure): Specialty Segment (As Reported) ($ in thousands, except per share and percent data) (Unaudited) Year Ended May 31, 2019 2018 Income Before Income Taxes $ 101,441 $ 123,307 Add: Interest Expense, Net (368) (876) EBIT* (non-GAAP measure) 101,073 122,431 Restructuring Expense
Slide 18: EBIT & EBITDA (Non-GAAP Measures)
EBIT* & EBITDA (Non-GAAP Measures) *EBIT is defined as earnings before interest and taxes, while EBITDA is (In thousands) 2015 (2) defined as earnings before interest, taxes, depreciation and 2016 2017 2018 2019 amortization. We evaluate the profit performance of our segments Net income $ 228,328 $