RPM International Inc. (NYSE:RPM) Q2 2023 Earnings Call Transcript

Frank Sullivan: Sure. In the past cycles, we have been able to maintain the vast majority of the price increases that we have initiated and we would expect to do exactly the same thing here. If you look at our performance in past commodity cycles, on the down cycle we should pick up $100 million to $200 million of margin benefit and we are working hard to do that and we intend to do it. And as I said, even Consumer with the very strong recoveries are showing there, and certainly, some of that is price driven, while the year-over-year performance is really strong. We are not yet back at record margins and we intend to get there through a combination of maintaining price where it’s appropriate and the benefits of the MAP 2025 program.

Arun Viswanathan: Thanks.

Operator: And this will conclude our question-and-answer session. I’d like to turn the conference back over to Frank Sullivan for any closing remarks.

Frank Sullivan: Thank you, Cole. Thanks to all of you for your participation in our investor call today. We are pleased with our second quarter results, which reflect the resiliency of our balanced business model and the extraordinary efforts of our associates around the globe. We are carefully monitoring early signs of economic slowing, but are confident in our ability to manage effectively through the entire business cycle. We look forward to providing you with details of our results in April. We will have a much better sense of where we are headed in terms of what seems to be an exciting opportunity for continuing growth in our Consumer Group and Performance Coatings Group, and hopefully, some improving performance out of Construction Products and Specialty Products as well. Thanks again for your time on today’s call and best wishes for a happy, healthy and successful new year.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect your lines at this time.