RPM International Inc. (RPM) Q4 2022 Earnings Call Transcript

For the period ending May 31, 2022

July 25, 2022 10:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Welcome to RPM International’s Conference Call for the Fiscal 2022 Fourth Quarter and Yearend. Today’s call is being recorded. This call is also being webcast and can be accessed live or replayed on the RPM website at www.rpminc.com.

Comments made on this call may include forward-looking statements based on current expectations that involve risks and uncertainties, which could cause actual results to be materially different. For information on these risks and uncertainties, please review the RPM’s reports filed with the SEC.

During this conference call, references may be made to non-GAAP financial measures. To assist you in understanding these non-GAAP terms, RPM has posted reconciliations to the most directly comparable GAAP financial measures on the RPM website.

Following today’s presentation, there will be a question-and-answer session. [Operator Instructions] Please note that only financial analysts will be permitted to ask questions.

At this time, I’d now like to turn the call over to RPM’s Chairman and CEO, Mr. Frank Sullivan, for opening remarks. Please go ahead, sir.

Frank Sullivan

Thank you, Michelle. Good morning and welcome to the RPM International Inc. investor call for our fiscal 2022 fourth quarter and yearend. Joining me on today’s call are Rusty Gordon, RPM’s Vice President and Chief Financial Officer; and Mike Laroche, Vice President, Controller and Chief Accounting Officer.

I’ll share a broad commentary on our consolidated performance for the quarter and the year, then Mike will provide details on our financial results and Rusty will conclude our prepared remarks and our outlook for the first quarter of fiscal 2023.

Please note that our comments will be on an as adjusted basis and all comparisons are to the fourth quarter of fiscal 2021 unless otherwise indicated. We provided a supplemental slide presentation to support our comments on this call. It can be accessed in the Presentations and Webcasts section of the RPM website at www.rpminc.com. After our remarks, we'll be pleased to take your questions.

We generated record fourth quarter performance, which reflected accelerating momentum across RPM throughout fiscal 2022. As we progress through the year, our nimble businesses responded quickly to address ever-changing supply chain constraints, inflationary challenges and foreign exchange headwinds. I'd like to share a few examples for RPM.