(Updates with stock move in the headline and first paragraph, increase to share buyback plan, fiscal 2027 sales outlook, and investor day date.)
RPM International (RPM) shares were up 4.8% in Wednesday morning trading after its fiscal Q4 adjusted earnings and revenue rose year on year and beat analysts' estimates, and the company's board approved an increase to its share buyback plan.
The company reported fiscal Q4 adjusted earnings Wednesday of $1.89 per diluted share, up from $1.72 a year earlier. Analysts surveyed by FactSet expected $1.83. Revenue for the fiscal quarter ended May 31 was $2.23 billion, up from $2.08 billion a year earlier. Analysts expected $2.18 billion.
The company said its board approved a $700 million increase to its share repurchase program, in addition to the $114.8 million available under the previously authorized amount.
RPM International also said that its guidance for fiscal 2027 is for sales to rise 3% to 7% compared to previous-year results.
The company said its investor day will be on Nov. 9 to update its strategic priorities and outline its operating improvement plan.
Price: $106.64, Change: $+5.11, Percent Change: +5.03%