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RPM's CEO warns that the housing market is struggling, with turnover at a 40-year low and no improvement in sight.

ResultsRead the original at Benzinga
Neutral

RPM reported growth in several businesses and more cash from operations, but Construction Products profit fell and its full-year profit-growth forecast came down. Rising costs and weak housing demand counter the gains, leaving the report without a clear change to RPM's outlook.

RPM · RPM International Inc.

AI read · Neutral

The AI's read

Growth in Performance Coatings and Consumer, plus more cash from operations and lower debt, support RPM. But Construction Products profit fell, and RPM lowered its full-year profit-growth forecast as costs rose and housing demand stayed weak. The company expects price increases to cover rising costs, but that benefit is not yet proven. Taken together, the report points neither clearly up nor down.

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