Page 1

RPM ● ● ● ● News Release RPM INTERNATIONAL INC . P.O. Box 777 Medina , Ohio 44258 330-273-5090 FAX 330-225-8743 RPM Reports Fiscal 2022 First - Quarter Results Consolidated sales increased to a record $ 1.65 billion Net income was $ 134.6 million and diluted EPS was $ 1.04 , decreasing 25 % compared to prior - year period's extraordinary growth of 70 % Consolidated EBIT of $ 196.8 million decreased 21.4 % and adjusted EBIT of $ 206.8 million declined 23.2 % due to supply chain challenges , inflation and tough comparison for Consumer Group Three of four operating segments generated solid sales and adjusted EBIT growth in fiscal 2022 first quarter Exception was Consumer Group , which faced tough comparison to prior - year period when sales increased 33.8 % and adjusted EBIT was up 121.6 % Making strategic growth investments in fiscal 2022 , including two acquisitions and a large manufacturing facility that will improve resiliency , capacity and efficiency MEDINA , OH - October 6 , 2021 – RPM International Inc. ( NY SE : RPM ) , a world leader in specialty coatings , sealants and building materials , today reported financial results for its fiscal 2022 first quarter ended August 31 , 2021 . First - Quarter Consolidated Results Fiscal 2022 first - quarter net sales increased 2.7 % to a record $ 1.65 billion compared to the $ 1.61 billion reported a year ago . First - quarter net income was $ 134.6 million , a decrease of 25.5 % compared to the $ 180.6 million reported in the year - ago period , and diluted earnings per share ( EPS ) were $ 1.04 , a decrease of 25.2 % compared to $ 1.39 reported in the year - ago quarter . Income before income taxes ( IBT ) was $ 181.5 million compared to $ 241.4 million reported in the fiscal 2021 first quarter . RPM's consolidated earnings before interest and taxes ( EBIT ) decreased 21.4 % to $ 196.8 million compared to $ 250.4 million reported in the fiscal 2021 first quarter . The first quarter included restructuring - related and other expenses that are not indicative of ongoing operations of $ 10.0 million during fiscal 2022 and $ 18.9 million in fiscal 2021. Excluding these charges , RPM's adjusted EBIT decreased 23.2 % to $ 206.8 million compared to $ 269.2 million during the year ago period . The company has excluded the impact of gains and losses from marketable securities from adjusted EPS , as their inherent volatility is outside of management's control and cannot be predicted with any level of certainty . These investments resulted in a net after - tax gain of $ 2.3 million for the first quarter of fiscal 2022 and a net after - tax gain of $ 8.1 million during the same quarter last year . Excluding the restructuring and other charges , as well as investment gains , adjusted diluted EPS decreased 25.0 % to $ 1.08 compared to $ 1.44 in the fiscal 2021 first quarter . " Our Construction Products Group , Performance Coatings Group and Specialty Products Group generated solid sales and adjusted EBIT growth for the fiscal 2022 first quarter . Their performance was particularly impressive given the raw material shortages , supply chain disruptions and inflation all of our segments have experienced and which have resulted in a negative impact on first - quarter sales of approximately $ 200 million . Sales and earnings for our Consumer Group decreased during the quarter as a result of these factors , as well as a difficult comparison to the prior - year period . All indicators