Here's my favorite quote so far this earnings season:
"Great companies find a way to win, regardless of the challenges they face."
Those were the words delivered by RPM International
Through its consumer segment, which constituted 35% of sales in fiscal 2008, RPM International is exposed not only to the constrained consumer, but also to the horrific housing market. In that respect, the company is somewhat in the same boat as both competitors like Sherwin-Williams
Amazingly, RPM International's consumer segment grew organic sales, took market share, and increased margins. Among all the companies affected by the housing downturn, there are certainly others that impress me. Vulcan Materials
The company's not completely swimming upstream, of course. RPM International is also levered to global industrial growth, providing materials like corrosion-resistant coatings for mining infrastructure and grated slip-resistant flooring for offshore oil platforms.
RPM International might not be the best company I've ever seen, but this is one remarkably robust operator that, critically, is not inclined to make excuses when the sun's not shining. That's worth a whole lot in this Fool's book.
Home Depot and Builders FirstSource are Inside Value selections. Sherwin-Williams is a Stock Advisor recommendation. RPM International and PPG are Income Investor picks. Paint the town red with any of our newsletter services, which you can try free for 30 days.