RPM International Inc. (RPM) Q4 2023 Earnings Call Transcript

For the period ending May 31, 2023

July 26, 2023 10:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning and welcome to the RPM International's Fiscal Fourth Quarter and Full Year 2023 Earnings Conference Call. All participants will be in a listen only mode. [Operator Instructions] Please note that this event is being recorded.

I would now like to turn the conference over to Matt Schlarb, Senior Director of Investor Relations. Please go ahead sir.

Matt Schlarb

Thank you, Joe and welcome to RPM International's conference call for the fiscal 2023 fourth quarter and full year results. Today's call is being recorded. Joining today's call are Frank Sullivan, RPM's Chairman and CEO; Rusty Gordon, Vice President and Chief Financial Officer; and Michael Laroche, Vice President, Controller, and Chief Accounting Officer. 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 more information on these risks and uncertainties, please review 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.

Also please note that our comments will be on an as-adjusted basis and all comparisons are to the fourth quarter of fiscal 2022 unless otherwise indicated. We have 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.

At this time, I would like to turn the call over to Frank.

Frank Sullivan

Thanks Matt. Good morning everyone. For those following the slides I'm going to start with slide three. We'll begin by discussing our high-level performance for the fourth quarter, after which Mike will provide details on our financial results, and Matt will provide a balance sheet and business update. Finally, Rusty will conclude our prepared remarks with our outlook after which we'll be pleased to answer your questions.

Starting on slide three, you can see that in the fourth quarter we generated the sixth consecutive quarter of record sales and adjusted EBIT on top of the strong growth we achieved in the fourth quarter of last year.