Rpm International Inc. · NYSE:RPM
Rpm International — Q1 FY2021 Earnings Presentation
13 slides from Rpm International's earnings presentation, Oct 7, 2020
Slide 1: First Quarter Results Fiscal Year 2021
First Quarter Results Fiscal Year 2021 RPM International Inc.
Slide 2: Consolidated Statements of Income
Consolidated Statements of Income ($ in thousands, except per share data) Fiscal Year Ended May 31, 2020 % 2019 % % Change Net Sales $ 5,506,994 $ 5,564,551 (1.0) Cost of Sales 3,414,139 62.0 3,476,231 62.5 Gross Profit 2,092,855 38.0 2,088,320 37.5 SG&A 1,548,653 28.1 1,596,043 28.7 Restructuring E
Slide 3: Consolidated Statements of Income
Consolidated Statements of Income ($ in thousands, except per share data) (Unaudited) Three Months Ended August 31, 2020 % 2019 % % Change Net Sales $ 1,606,670 $ 1,472,764 9.1 Cost of Sales 953,015 59.3 898,010 61.0 Gross Profit 653,655 40.7 574,754 39.0 SG&A 395,953 24.6 400,566 27.2 Restructuring
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, 2020 2019 2018 2017 2016 Cash Flows from Operating Activities: Net income $ 305,082 $ 267,687 $ 339,257 $ 184,671 $ 357,458 Depreciation and amortization 156,842 141,742 128,499 116,773 111,039 Working capital an
Slide 6: Adjustments Detail
Adjustments Detail (a) Charges recorded in Cost of Goods Sold that reflect SKU rationalization at our Consumer segment, as well as inventory write-offs in connection with restructuring activities at our Consumer, Construction Products and Performance Coatings segments, offset somewhat by subsequent
Slide 7: EBIT (Non-GAAP Measure): RPM Consolidated
EBIT** (Non-GAAP Measure): RPM Consolidated (As Reported) ($ in thousands, except per share and percent data) Three Months Ended August 31, (Unaudited) 2020 2019 Net Income $ 180,785 $ 106,496 Provision for Income Taxes 60,584 36,353 Income Before Income Taxes 241,369 142,849 Interest Expense* 21,74
Slide 8: Reconciliation of "Reported" to "Adjusted" EPS
Reconciliation of "Reported" to "Adjusted" EPS (Unaudited) Three Months Ended August 31, 2020 2019 Reconciliation of Reported Earnings per Diluted Share to Adjusted Earnings per Diluted Share (All amounts presented after-tax): Reported Earnings per Diluted Share $ 1.39 $ 0.82 Inventory-related charg
Slide 9: EBIT (Non-GAAP Measure): Construction Products Segment
EBIT** (Non-GAAP Measure): Construction Products Segment (As Reported) ($ in thousands, except per share and percent data) (Unaudited) Three Months Ended August 31, 2020 2019 Income Before Income Taxes $ 98,349 $ 82,680 Add: Interest Expense, Net* 2,110 2,027 EBIT** (non-GAAP measure) 100,459 84,707
Slide 10: EBIT (Non-GAAP Measure): Performance Coatings Segment
EBIT** (Non-GAAP Measure): Performance Coatings Segment (As Reported) ($ in thousands, except per share and percent data) (Unaudited) Three Months Ended August 31, 2020 2019 Income Before Income Taxes $ 28,514 $ 28,057 Add: Interest Expense, Net* 31 129 EBIT** (non-GAAP measure) 28,545 28,186 Invent
Slide 11: EBIT (Non-GAAP Measure): Consumer Segment
EBIT** (Non-GAAP Measure): Consumer Segment (As Reported) ($ in thousands, except per share and percent data) (Unaudited) Three Months Ended August 31, 2020 2019 Income Before Income Taxes $ 132,722 $ 59,158 Add: Interest Expense, Net* 62 105 EBIT** (non-GAAP measure) 132,784 59,263 Inventory-relate
Slide 12: EBIT (Non-GAAP Measure): Specialty Segment
EBIT** (Non-GAAP Measure): Specialty Segment (As Reported) ($ in thousands, except per share and percent data) (Unaudited) Three Months Ended August 31, 2020 2019 Income Before Income Taxes $ 20,449 $ 23,327 Add: Interest Expense (Income), Net* 82 (26) EBIT** (non-GAAP measure) 20,531 23,301 Restruc
Slide 13: EBIT & EBITDA (Non-GAAP Measures)
EBIT* & EBITDA (Non-GAAP Measures) *EBIT is defined as earnings before interest and taxes, while EBITDA is defined as earnings before interest, taxes, depreciation and amortization. We evaluate the profit performance of our segments (in thousands) 2016 2017 2018 2019 2020 based on income before inco