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RPM, PPG awash in coating demand, aiming to cover supply chain inflation

Earnings 667 Materials - Chemicals 202 Quote Watch 438 U.S. 5200

RPM International, a maker of coatings and sealants, reported revenue growth of 19.6% year over year in FQ4’21 (to May 31). That came despite facing significant disruptions including the Texas winter storm and power outages as well as imports from Asia which “can sit for 3 or 4 weeks before they’re offloaded” according to CEO Frank Sullivan. That hasn’t prevented a 30.8% year over year increase in U.S. seaborne imports in Q2’21. Getting the products in has come at the cost of logistics expenses that “have gone through the roof”, leading the firm to increase its prices. Competitor PPG Ind...

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