Shares of RPM International Inc. rose Thursday on the Medina company’s third-quarter results.

RPM reported net income of $14.2 million, or 11 cents per share, on revenue of $1.14 billion for the fiscal 2019 third quarter ending Feb. 28.

That compares to net income of $40.2 million, or 30 cents per share, on revenue of $1.1 billion for what the company said was “an unusually strong” third quarter a year ago.

Earnings beat analyst expectations while revenue was in line with analyst expectations. Shares were up $1.20, or 2 percent at Thursday's closing bell to $60.63. Shares have ranged from a low of $46.64 to a high of $68.13 over the past 52 weeks.

“Our top-line sales growth was solid during the third quarter, which is seasonally our slowest due to winter weather conditions across many of the countries we serve,” Frank C. Sullivan, RPM chairman and chief executive officer, said in a news release. “Organic growth was 4.3 percent and acquisitions contributed 2.1 percent, while foreign exchange was a significant headwind that reduced sales by 3 percent.”

Sullivan said raw material costs have risen for seven straight quarters, and there have been higher costs for freight, labor and energy. In addition, international markets remained challenged and resulted in reduced operating earnings from most geographies around the world, he said.

Sullivan said the company has a positive outlook for the fourth quarter.

RPM expects to have adjusted earnings of $1.12 to $1.16 per share for the fourth quarter, Sullivan said.

RPM remains on target for its MAP to Growth operating improvement plan, with the first wave concluding at the end of the 2019 fiscal year, Sullivan said. The plan was announced last year.

“Since the initiation of the plan, we have closed, or are in the process of closing, 12 manufacturing plants and have announced the reduction of 502 positions,” Sullivan said. “We have also taken great strides to upgrade our manufacturing processes, optimize assets, reduce inventory and improve our supply chain. In addition, as of today, we have effectively repurchased approximately $400 million of our common stock, half of which was accomplished through the redemption of our convertible bond.”

MAP to Growth is designed to return $1.5 billion in capital to RPM shareholders by May 31, 2021.

RPM International brands include Rust-Oleum, DAP, Zinsser, Testors, Stonhard, Tremco, illbruck, Carboline, Flowcrete and others.