Exhibit 99.1
RPM International Expects Fourth Quarter Sales
to be in the Range of Previous Guidance
MEDINA, Ohio — May 5, 2020 — RPM International Inc. (NYSE:RPM) today announced that it expects its sales for its fiscal fourth quarter ending May 31, 2020 to be within the range of its guidance the company provided on April 8, 2020.
At that time, the company said that it anticipated sales for the fiscal fourth quarter to be down 10% to 15%. The company noted today that the positive momentum of consumer take away with the start of the spring season should result in sales for its Consumer Group being flat to slightly up, while the company’s more internationally exposed Construction Products and Performance Coatings Groups expect double-digit sales declines in the fourth quarter principally due to the impact of theCOVID-19 outbreak which resulted in jurisdictional shutdowns, factory closures and workers remaining offsite due tostay-at-home-orders. The company’s Specialty Products Group will also see a decline in sales partially offset by incremental demand for its cleaning and sanitizing products.
“RPM’s top priorities include protecting the health and well-being of our associates and their family members, supporting our local communities to control the spread of the virus, and maintaining the continuity and success of our business operations,” said Frank C. Sullivan, RPM chairman and chief executive officer. “While theCOVID-19 outbreak continues globally, our supply chain and business operations remain strong, our March operating results are solid, and we continue to meet the changing needs of our customers in a timely manner during this unprecedented period,” stated Sullivan. “I want to thank all of our associates for their hard work and dedication as they provide superior service to our customers as we navigate through these challenging times together.”
About RPM
RPM International Inc. owns subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services. The company operates across four reportable segments: consumer, construction products, performance coatings and specialty products. RPM has a diverse portfolio with hundreds of market-leading brands, including Rust-Oleum, DAP, Zinsser, Varathane,Day-Glo, Legend Brands, Stonhard, Carboline, Tremco and Dryvit. From homes and workplaces, to infrastructure and precious landmarks, RPM’s brands are trusted by consumers and professionals alike to help build a better world. The company employs approximately 15,000 individuals worldwide. Visit www.RPMinc.com to learn more.
For more information, contact Russell L. Gordon, vice president and chief financial officer, at330-273-5090 or rgordon@rpminc.com.
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