Earnings Per Share

9 Months Ended

Feb. 28, 2025

NOTE 11 — EARNINGS PER SHARE

The following table sets forth the reconciliation of the numerator and denominator of basic and diluted earnings per share ("EPS") for the three- and nine-month periods ended February 28, 2025 and February 29, 2024.


	Three Months Ended						Nine Months Ended
	February 28,			February 29,			February 28,			February 29,
(In thousands, except per share amounts)	2025			2024			2025			2024
Numerator for earnings per share:
Net income attributable to RPM International Inc. stockholders	$	52,034		$	61,199		$	462,930		$	407,786
Less: Allocation of earnings and dividends to participating securities		(256	)		(279	)		(1,788	)		(1,840	)
Net income available to common shareholders - basic		51,778			60,920			461,142			405,946
Add: Undistributed earnings reallocated to unvested shareholders		-			-			6			5
Net income available to common shareholders - diluted	$	51,778		$	60,920		$	461,148		$	405,951
Denominator for basic and diluted earnings per share:
Basic weighted average common shares		127,536			127,781			127,628			127,803
Average diluted options and awards		618			553			687			512
Total shares for diluted earnings per share (1)		128,154			128,334			128,315			128,315
Earnings Per Share of Common Stock Attributable to
RPM International Inc. Stockholders:
Basic Earnings Per Share of Common Stock	$	0.41		$	0.48		$	3.61		$	3.18
Method used to calculate basic earnings per share	Two-class			Two-class			Two-class			Two-class
Diluted Earnings Per Share of Common Stock	$	0.40		$	0.47		$	3.59		$	3.16
Method used to calculate diluted earnings per share	Two-class			Two-class			Two-class			Two-class

(1) The dilutive effect of performance-based restricted stock units is included when they have met minimum performance thresholds. The dilutive effect of SARs includes all outstanding awards except awards that are considered antidilutive. SARs are antidilutive when the exercise price exceeds the average market price of the Company’s common shares during the periods presented. For the three and nine months ended February 28, 2025, approximately 190,000 and 170,000 shares of stock, respectively, granted under stock-based compensation plans were excluded from the calculation of diluted EPS, as the effect would have been anti-dilutive. For the three and nine months ended February 29, 2024, approximately 300,000 and 250,000 shares of stock, respectively, granted under stock-based compensation plans were excluded from the calculation of diluted EPS, as the effect would have been anti-dilutive.