Rpm International Inc. · NYSE:RPM
Rpm International — Q1 FY2019 Earnings Presentation
13 slides from Rpm International's earnings presentation, October 2018
Slide 1: First Quarter Results Fiscal Year 2019
First Quarter Results Fiscal Year 2019 RPM INTERNATIONAL INC. 1
Slide 2: Consolidated Statements of Income: Fiscal Year 2018
Consolidated Statements of Income: Fiscal Year 2018 (As Reported) ($ in thousands, except per share and percent data) Fiscal Year Ended May 31, % 2018 % 2017 % Change Net Sales $ 5,321,643 $ 4,958,175 7.3 Cost of Sales 3,140,431 59.0 2,792,487 56.3 Gross Profit 2,181,212 41.0 2,165,688 43.7 SG&A 1,6
Slide 3: Consolidated Statements of Income: First Quarter
Consolidated Statements of Income: First Quarter (As Reported) ($ in thousands, except per share and percent data) Unaudited First Quarter Ended August 31, 2018 % 2017 % % Change Net Sales $ 1,459,989 $ 1,345,394 8.5 Cost of Sales 865,947 59.3 773,386 57.5 Gross Profit 594,042 40.7 572,008 42.5 SG&A
Slide 4: Free Cash Flow Generation
Free Cash Flow Generation ($ in millions) Fiscal Year Ended May 31, 2018 2017 2016 2015 Net Income $ 339 $ 185 $ 185 $ 185 Depreciation & Amortization 128 117 111 99 Working Capital & Other Operating Activities (77) 84 6 3 Cash Flow From Operations 390 386 474 330 Less: Capital Expenditures (115) (1
Slide 5: Reconciliations of Non-GAAP Measures to GAAP Measures
Reconciliations of Non-GAAP Measures to GAAP Measures 10/5/2020 RPM INTERNATIONAL INC. 5
Slide 6: Free Cash Flow Generation (Non-GAAP Measure)
Free Cash Flow Generation (Non-GAAP Measure) ($ in thousands) Fiscal Year Ended May 31, 2018 2017 2016 2015 2014 Cash Flows from Operating Activities: Net income $ 339,257 $ 184,671 $ 357,458 $ 228,328 $ 305,984 Depreciation and amortization 128,499 116,773 111,039 99,176 90,069 Working capital and
Slide 7: EBIT (Non-GAAP Measure): RPM Consolidated
EBIT* (Non-GAAP Measure): RPM Consolidated (As Reported) Unaudited ($ in thousands, except percent data) First Quarter Ended August 31, 2018 2017 Income Before Income Taxes $ 91,938 $ 155,284 Add: Interest Expense, Net (21,973) 22,320 EBIT* (non-GAAP measure) 113,911 177,604 Inventory-related charge
Slide 8: Reconciliation of "Reported" to "Adjusted" Net Income
Reconciliation of "Reported" to "Adjusted" Net Income First Quarter Ended August 31, 2018 2017 Net Income, As Reported $ 70,186 $ 116,903 Adjustments, pre-tax (a) 39,831 Tax impact of adjustments (6,630) Net Income, As Adjusted $ 103,387 $ 116,903 (a) Refer to slide 7 for all adjustment detail 10/5/
Slide 9: Reconciliation of "Reported" to "Adjusted" EPS
Reconciliation of "Reported" to "Adjusted" EPS Three Months Ended August 31, 2018 2017 Reconciliation of Reported Earnings per Diluted Share to Adjusted Earnings per Diluted Share (All amounts presented after-tax): Reported Earnings per Diluted Share $ 0.52 $ 0.86 Inventory-related charges (a) 0.03
Slide 10: EBIT (Non-GAAP Measure): Industrial Segment
EBIT* (Non-GAAP Measure): Industrial Segment (As Reported) Unaudited ($ in thousands, except percent data) First Quarter Ended August 31, 2018 2017 Income Before Income Taxes** $ 69,057 $ 88,902 Add: Interest Expense, Net 2,393 2,554 EBIT* (non-GAAP measure) 71,450 91,456 Inventory-related charges (
Slide 11: EBIT (Non-GAAP Measure): Consumer Segment
EBIT* (Non-GAAP Measure): Consumer Segment (As Reported) Unaudited ($ in thousands, except percent data) First Quarter Ended August 31, 2018 2017 Income Before Income Taxes $ 51,296 $ 72,368 Add: Interest Expense, Net 165 196 EBIT* (non-GAAP measure) 51,461 72,564 Inventory-related charges (a) (153)
Slide 12: EBIT (Non-GAAP Measure): Specialty Segment
EBIT* (Non-GAAP Measure): Specialty Segment (As Reported) Unaudited ($ in thousands, except percent data) First Quarter Ended August 31, 2018 2017 Income Before Income Taxes $ 27,801 $ 33,167 Add: Interest Expense, Net (69) (120) EBIT* (non-GAAP measure) 27,732 33,047 Restructuring expense (a) 2,147
Slide 13: EBIT & EBITDA (Non-GAAP Measures)
EBIT* & EBITDA (Non-GAAP Measures) (In thousands) *EBIT is defined as earnings before interest and taxes, while EBITDA is (2) 2014 2015 2016 2017 2018 defined as earnings before interest, taxes, depreciation and Net income $ 305,984 $ 228,328 $ 357,458 $ 184,671 $ 339,257 amortization. We evaluate t