RPM International Q1 FY2027 net income rises 12.6%

Performance Coatings and Consumer increased sales and adjusted EBITDA, while Construction Products adjusted EBITDA declined 9.7%.

Rhea-AI Filing Summary

RPM International Inc. reported fiscal 2027 first-quarter net sales of $2,215.593 million for the three months ended August 31, 2026, up 4.8% year over year. Net income attributable to RPM stockholders was $256.357 million, up 12.6%; diluted EPS was $2.01, up 13.6%. Adjusted EBITDA was $405.457 million, up 4.5%, and adjusted diluted EPS was $1.98, up 5.3%.

Performance Coatings Group sales rose 10.2% to $629.650 million and adjusted EBITDA rose 18.2% to $121.073 million. Consumer Group sales rose 5.3% to $726.734 million and adjusted EBITDA rose 5.5% to $146.576 million. Construction Products Group sales rose 0.8% to $859.209 million, while adjusted EBITDA fell 9.7% to $166.193 million. RPM cited delayed healthcare and education sales, supplier raw-material availability, inflation, and higher bad-debt and warranty costs.

Operating cash flow was $263.936 million, compared with $237.510 million a year earlier. Management expects second-quarter segment trends to resemble the first, with PCG leading growth, Consumer stabilizing and CPG demand soft; it anticipates CPG returning to positive organic growth by year-end. RPM acquired Volteco for CPG; the Italy-based waterproofing supplier had calendar 2025 sales of €28 million.

1 point · 0 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 1 point

How the balance works

Positive

• Moderate pointRPM stockholder net income rose 12.6% to $256.357 million year over year.

Negative

• Moderate pointConstruction Products Group adjusted EBITDA fell 9.7% to $166.193 million.

Filing Explained

Effective June 1, 2026, RPM moved certain Latin American businesses generating about $143 million in annual revenue from Construction Products and Consumer into Performance Coatings; current and prior-period segment results use the revised structure, with no change to consolidated results.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Net sales: $2,215.593 million Net income attributable to RPM stockholders: $256.357 million Diluted EPS: $2.01 +4 more

7 metrics

Net sales $2,215.593 million Fiscal 2027 first quarter; up 4.8% year over year

Net income attributable to RPM stockholders $256.357 million Fiscal 2027 first quarter; up 12.6% year over year

Diluted EPS $2.01 Fiscal 2027 first quarter; up 13.6% year over year

Adjusted EBITDA $405.457 million Fiscal 2027 first quarter; up 4.5% year over year

Adjusted diluted EPS $1.98 Fiscal 2027 first quarter; up 5.3% year over year

Cash provided by operating activities $263.936 million Three months ended August 31, 2026; $237.510 million in the prior-year period

Construction Products Group adjusted EBITDA $166.193 million Fiscal 2027 first quarter; down 9.7% year over year

Key Terms

Adjusted EBITDA, organic growth, fixed-cost absorption, foreign currency translation

4 terms

Adjusted EBITDA financial

"Adjusted EBITDA increased to a record"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

organic growth financial

"Sales included 3.1% organic growth"

Organic growth is the increase in a company's sales or profits that comes from its own activities, such as selling more products or services, rather than through acquisitions or mergers. It is like a plant growing taller on its own, without needing outside help. For investors, it indicates the company's ability to expand steadily and sustainably through its existing business efforts.

fixed-cost absorption financial

"Lower fixed-cost absorption from reduced volumes"

Fixed-cost absorption is an accounting approach that assigns a company’s fixed production overhead—like rent and salaried factory staff—into the cost of the goods produced, so that each unit carries a share of those fixed costs. For investors, this matters because it changes reported inventory values and gross margins: when more units are produced, fixed costs per unit fall and reported profits can rise even if cash spending hasn’t changed, affecting comparisons of profitability and earnings trends.

foreign currency translation financial

"a 0.1% tailwind from foreign currency translation"

Foreign currency translation is the process of converting financial statements prepared in one currency into another currency so they can be combined or compared. Investors care because exchange rate swings can change reported revenue, profit and asset values even when a company’s underlying business hasn’t changed — like converting vacation spending back to your home money and seeing the total rise or fall depending on the day’s exchange rate.

Earnings Snapshot

Net sales: $2,215.593 million · Guidance included

Fiscal 2027 first quarter ended August 31, 2026

Net sales $2,215.593 million Up 4.8% year over year

Net income attributable to RPM stockholders $256.357 million Up 12.6% year over year

Diluted EPS $2.01 Up 13.6% year over year

Adjusted EBITDA $405.457 million Up 4.5% year over year

Adjusted diluted EPS $1.98 Up 5.3% year over year

Cash provided by operating activities $263.936 million Compared with $237.510 million in the prior-year period

Guidance

Management expects second-quarter segment trends to be similar to the first, with Performance Coatings Group leading growth, Consumer Group stabilization, and soft Construction Products Group demand. It anticipates Construction Products Group will return to positive organic growth by year-end.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were RPM's sales and earnings in fiscal 2027 first quarter?

RPM reported net sales of $2,215.593 million, up 4.8%, and net income attributable to RPM stockholders of $256.357 million, up 12.6%, for the three months ended August 31, 2026. Diluted EPS was $2.01, up 13.6%.

How did RPM's segments perform in fiscal 2027 first quarter?

Performance Coatings Group sales increased 10.2% and adjusted EBITDA increased 18.2%; Consumer Group sales increased 5.3% and adjusted EBITDA increased 5.5%. Construction Products Group sales increased 0.8%, while adjusted EBITDA declined 9.7%.

What changed in RPM's segment reporting?

Effective June 1, 2026, RPM moved certain Latin American businesses into Performance Coatings Group from Construction Products Group and Consumer Group. Those businesses generate approximately $143 million in annual revenue. Results for current and prior periods reflect the updated structure, which RPM said does not affect consolidated results.

When is RPM's investor day?

RPM's investor day is scheduled for November 9, 2026, at its Stonhard facility in New Jersey. A public webcast is expected to start at approximately 12:00 p.m. ET, and a replay will be available.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/06/2026 - 06:53 AM Accepted by SEC EDGAR 10/06/2026 - 06:53 AM Learn about SEC filing dates

RPM INTERNATIONAL INC/DE/ false 0000110621 0000110621 2026-10-06 2026-10-06

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) October 6, 2026

RPM INTERNATIONAL INC.

(Exact name of registrant as specified in its charter)

Delaware		1-14187		02-0642224
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

2628 Pearl Road, Medina, Ohio		44256
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (330) 273-5090

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.01		RPM		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On October 6, 2026, RPM International Inc. (the “Company”) issued a press release announcing its first quarter results, which provided detail not included in previously issued reports. A copy of the press release is furnished with this Current Report on Form 8-K as Exhibit 99.1. Financial information supplemental to the press release is furnished with this Current Report on Form 8-K as Exhibit 99.2.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number		Description
99.1		Press Release of the Company, dated October 6, 2026, announcing the Company’s first quarter results.
99.2		Supplemental Financial Information
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

RPM International Inc.

(Registrant)

Date October 6, 2026

/s/ Tracy D. Crandall

Tracy D. Crandall

Vice President, General Counsel, Chief Compliance

Officer and Secretary

Exhibit 99.1

RPM Reports Record Fiscal 2027 First-Quarter Results

• Record first-quarter sales of $2.22 billion increased 4.8% compared to the prior year

• Net income of $256.4 million and diluted EPS of $2.01

• Record adjusted diluted EPS of $1.98 increased 5.3% and record adjusted EBITDA of $405.5 million increased 4.5% compared to the prior year

• Fiscal 2027 second-quarter outlook projects sales and adjusted EBITDA to increase in the low- to mid-single-digit range

• Fiscal 2027 full-year outlook projects sales and adjusted EBITDA to increase in the mid-single-digit range

MEDINA, OH – October 6, 2026 – RPM International Inc. (NYSE: RPM), a world leader in specialty coatings, sealants and building materials, today reported financial results for its fiscal 2027 first quarter ended August 31, 2026.

Frank C. Sullivan, RPM Chairman and CEO, said, “The resilience of our associates and business model was on full display in the first quarter as we generated another quarter of record sales and adjusted EBITDA. Solid organic growth in our Performance Coatings Group and Consumer Group, and a focus on manufacturing, procurement and SG&A efficiencies overcame multiple challenges, including raw material inflation and a temporary slowdown in our Construction Products Group. This record profitability, combined with improved working capital efficiency, also allowed us to generate another quarter of strong operating cash flow, which we are using to invest in growth opportunities and reward shareholders with dividends and share repurchases.”

First-Quarter 2027 Consolidated Results

Organization and Reporting Update

Effective June 1, 2026, the company modified its organizational structure to manage and report certain businesses in Latin America in PCG. The businesses generate approximately $143 million in annual revenue and were previously part of CPG and Consumer Group. Starting with the first fiscal quarter of 2027, results reflect the updated structure for both current and prior periods presented. These changes have no impact on consolidated results. Recast quarterly results for fiscal year 2026 reflecting this change have been provided in a Form 8-K filed with the SEC.

RPM Reports Results for Fiscal 2027 1st Quarter

October 6, 2026

Page 2

Consolidated

		Three Months Ended
$ in 000s except per share data		August 31,				August 31,
		2026				2025				$ Change				% Change
Net Sales		$	2,215,593			$	2,113,743			$	101,850				4.8	%
Net Income Attributable to RPM Stockholders			256,357				227,605				28,752				12.6	%
Diluted EPS			2.01				1.77				0.24				13.6	%
Income Before Income Taxes (IBT)			337,053				298,047				39,006				13.1	%
Adjusted EBITDA (1)			405,457				388,048				17,409				4.5	%
Adjusted Diluted EPS(1)			1.98				1.88				0.10				5.3	%

(1) Excludes certain items that are not indicative of RPM’s ongoing operations. See tables below titled Supplemental Segment Information and Reconciliation of Reported to Adjusted Amounts for details.

Record first-quarter sales were driven by solid organic growth in the PCG and Consumer segments, including pricing to offset inflation. Acquisitions also contributed to the growth.

Geographically, all emerging market regions generated revenue increases above 20%, fueled by strong demand for engineered solutions used in high-performance buildings and infrastructure projects and the continued expansion of RPM’s Platform model, which leverages shared regional resources to accelerate growth and improve efficiency. North American growth was driven by PCG and Consumer improvement. Growth in Europe was driven by acquisitions.

Sales included 3.1% organic growth, 1.6% growth from acquisitions net of divestitures, and a 0.1% tailwind from foreign currency translation.

Adjusted EBITDA increased to a record, driven by higher sales and MAP operational improvement initiatives, including SG&A optimization. Healthcare expenses were lower compared to the prior year, driven by procurement efforts to lower prescription drug costs. These gains more than offset higher raw material inflation, warranty expenses from a small European business that is under review for closure, and bad debt expense from a customer bankruptcy.

Record adjusted diluted EPS was primarily driven by improved adjusted EBITDA.

RPM Reports Results for Fiscal 2027 1st Quarter

October 6, 2026

Page 3

First-Quarter 2027 Segment Sales and Earnings

Construction Products Group

		Three Months Ended
$ in 000s		August 31,				August 31,
		2026				2025				$ Change				% Change
Net Sales		$	859,209			$	851,997			$	7,212				0.8	%
Income Before Income Taxes			149,110				159,184				(10,074	)			(6.3	%)
Adjusted EBITDA(1)			166,193				183,944				(17,751	)			(9.7	%)

(1) Excludes certain items that are not indicative of RPM’s ongoing operations. See table below titled Supplemental Segment Information for details.

Lower than expected CPG sales growth was driven by delayed sales resulting from a slowdown in the healthcare and education markets, as well as supplier raw material availability issues affecting certain products. The Kalzip acquisition and pricing actions in response to inflation offset these headwinds.

Sales included a 1.7% organic decline and 2.5% growth from acquisitions net of divestitures.

Adjusted EBITDA declined due to lower fixed-cost absorption from reduced volumes, raw material inflation driven by supply shortages, a $4.4 million increase in bad debt expense related to a customer bankruptcy, and a $6.3 million warranty charge at a small European business under review for closure. SG&A optimization initiatives partially offset these headwinds.

Performance Coatings Group

		Three Months Ended
$ in 000s		August 31,				August 31,
		2026				2025				$ Change				% Change
Net Sales		$	629,650			$	571,593			$	58,057				10.2	%
Income Before Income Taxes			107,302				86,795				20,507				23.6	%
Adjusted EBITDA(1)			121,073				102,416				18,657				18.2	%

(1) Excludes certain items that are not indicative of RPM’s ongoing operations. See table below titled Supplemental Segment Information for details.

Record PCG sales were driven by broad-based growth, with particular strength in engineered solutions for high-performance buildings, energy and infrastructure projects including in emerging markets, and food coatings and ingredients. Pricing to offset inflation also contributed to sales growth.

Sales included 7.9% organic growth, a 1.8% increase from acquisitions, and a 0.5% benefit from foreign currency translation.

Record adjusted EBITDA was driven by improved sales, higher volumes resulting in improved fixed-cost leverage, and SG&A-focused optimization actions, partially offset by higher raw material inflation.

RPM Reports Results for Fiscal 2027 1st Quarter

October 6, 2026

Page 4

Consumer Group

		Three Months Ended
$ in 000s		August 31,				August 31,
		2026				2025				$ Change				% Change
Net Sales		$	726,734			$	690,153			$	36,581				5.3	%
Income Before Income Taxes			132,279				108,837				23,442				21.5	%
Adjusted EBITDA(1)			146,576				138,968				7,608				5.5	%

(1) Excludes certain items that are not indicative of RPM’s ongoing operations. See table below titled Supplemental Segment Information for details.

The Consumer Group’s record sales were driven by solid growth across all businesses and were aided by shelf space wins, new product introductions and pricing to offset inflation, which was higher in the quarter.

Sales included 5.2% organic growth, 0.3% growth from acquisitions, and a 0.2% headwind from foreign currency translation.

The increase in adjusted EBITDA was driven by sales growth and higher volumes resulting in improved fixed-cost utilization, and was further aided by MAP operational improvements, including SG&A-focused optimization actions.

Income before taxes included a $10.8 million gain on the sale of a facility that was closed as part of RPM’s MAP 2025 program. This gain has been excluded from adjusted EBITDA.

Cash Flow and Financial Position

During the first three months of fiscal 2027:

• Cash provided by operating activities was $263.9 million, compared to $237.5 million in the prior-year period, with the increase driven by improved working capital efficiency.

• Capital expenditures were $58.5 million compared to $62.5 million in the prior-year period.

• The company returned $90.5 million to stockholders through cash dividends and share repurchases, an increase of 10.2% compared to the prior year.

As of August 31, 2026:

• Total debt was $2.41 billion compared to $2.67 billion a year ago, with the decrease driven by strong operating cash flow being used to reduce debt.

• Total liquidity, including cash and committed revolving credit facilities, was $1.21 billion, compared to $933.4 million a year ago.

RPM Reports Results for Fiscal 2027 1st Quarter

October 6, 2026

Page 5

Investor Day Webcast Information

The company will host an investor day on November 9, 2026, at its Stonhard facility in New Jersey. Scheduled speakers include Frank Sullivan, RPM Chairman and CEO; David Dennsteadt, RPM President and COO; Russell Gordon, RPM Vice President and CFO; and Gregory Michael, Performance Coatings Group President. The presentation will be provided prior to the event, and a public webcast will be available at https://www.rpminc.com/investors/presentations-webcasts/. The webcast is expected to start at approximately 12:00 p.m. ET. A replay of the event will be available.

Volteco Acquisition

As previously announced, the company acquired Volteco, an Italy-based leading supplier of below-grade waterproofing solutions, for its Construction Products Group. Volteco had calendar year 2025 sales of €28 million.

Business Outlook

Sullivan continued, “Segment trends in the second quarter are expected to be similar to those in the first with the PCG segment leading growth as it benefits from its success with expanding the Platform emerging-market operating model and good end-market demand. Continued stabilization in the Consumer Group is also anticipated, while CPG demand remains soft. MAP benefits and selling price increases will help to offset gross margin pressure from higher inflation and start-up costs at new facilities. In the second half of the year, we expect to benefit from the continued implementation of MAP operational improvements and pricing increases to offset persistent inflation and more challenging comparisons. We also anticipate that CPG will return to positive organic growth by the end of the year.”

The company’s outlook for the fiscal 2027 second quarter is for:

• Consolidated sales to increase in the low- to mid-single-digit range compared to prior-year results.

• CPG sales to increase in the low-single-digit range compared to prior-year results.

• PCG sales to increase in the mid- to high-single-digit range compared to prior-year results.

• Consumer Group sales to increase in the low- to mid-single-digit range compared to prior-year results.

• Consolidated adjusted EBITDA to increase in the low- to mid-single-digit range compared to prior-year results.

The company’s outlook for fiscal 2027 is for:

• Consolidated sales to increase in the mid-single-digit range compared to prior-year record results. The previous outlook was for 3% to 7% growth.

• Consolidated adjusted EBITDA to increase in the mid-single-digit range compared to prior-year record results. The previous outlook was for 5% to 10% growth.

RPM Reports Results for Fiscal 2027 1st Quarter

October 6, 2026

Page 6

Earnings Webcast and Conference Call Information

Management will host a conference call to discuss these results beginning at 10:00 a.m. ET today. The call can be accessed via webcast at www.RPMinc.com/Investors/Presentations-Webcasts or by dialing 1-844-481-2915 or 1-412-317-0708 for international callers and asking to join the RPM International call. Participants are asked to call the assigned number approximately 10 minutes before the conference call begins. The call, which will last approximately one hour, will be open to the public, but only financial analysts will be permitted to ask questions. The media and all other participants will be in a listen-only mode.

For those unable to listen to the live call, a replay will be available from October 6, 2026, until October 13, 2026. The replay can be accessed by dialing 1-855-669-9658 or 1-412-317-0088 for international callers. The access code is 8131253. The call also will be available for replay and as a written transcript via the RPM website at www.RPMinc.com.

About RPM

RPM International Inc. owns subsidiaries that are world leaders in specialty coatings, sealants, building materials and related services. The company operates across three reportable segments: consumer, construction products and performance coatings. RPM has a diverse portfolio of market-leading brands, including Rust-Oleum, DAP, Zinsser, Varathane, The Pink Stuff, Stonhard, Carboline, FinishWorks, Tremco, Euclid Chemical, Dryvit and Nudura. From homes and workplaces to infrastructure and precious landmarks, RPM’s brands are trusted by consumers and professionals alike to help build a better world. The company employs approximately 17,500 individuals worldwide. Visit www.RPMinc.com to learn more.

For more information, contact Matt Schlarb, Vice President – Investor Relations & Sustainability, at 330-220-6064 or mschlarb@rpminc.com.

# # #

Use of Non-GAAP Financial Information

To supplement the financial information presented in accordance with Generally Accepted Accounting Principles in the United States (“GAAP”) in this earnings release, we use EBIT, adjusted EBIT, adjusted EBITDA and adjusted earnings per share, which are all non-GAAP financial measures. EBIT is defined as earnings (loss) before interest and taxes, with Adjusted EBIT provided for the purpose of adjusting for items impacting earnings that are not considered by management to be indicative of ongoing operations. We evaluate the profit performance of our segments based on income before income taxes, but also look to EBIT, or adjusted EBIT, as a performance evaluation measure because Interest Income (Expense), Net is essentially related to corporate functions, as opposed to segment operations. For that reason, we believe EBIT is also useful to investors as a metric in their investment decisions. EBIT should not be considered an alternative to, or more meaningful than, income before income taxes as determined in accordance with GAAP, since EBIT omits the impact of interest and investment income or expense in determining operating performance, which represent items necessary to our continued operations, given our level of indebtedness. Nonetheless, EBIT is a key measure expected by and useful to our fixed income investors, rating agencies and the banking community all of whom believe, and we concur, that this measure is critical to the capital markets’ analysis of our segments’ core operating performance. We also evaluate EBIT because it is clear that movements in EBIT impact our ability to attract financing. Additionally, Management believes that investors’ understanding of the Company’s operating performance is enhanced by the disclosure of Adjusted EBITDA, which is a non-GAAP financial measure defined as earnings (loss) before interest, taxes, depreciation and amortization adjusted for

RPM Reports Results for Fiscal 2027 1st Quarter

October 6, 2026

Page 7

items impacting earnings that are not considered by management to be indicative of ongoing operations. We evaluate the profit performance of our segments based on income before income taxes, but also look to adjusted EBITDA, as a performance evaluation measure because Interest Income (Expense), Net is essentially related to corporate functions, as opposed to segment operations. Additionally, Adjusted EBITDA is an operating measure that provides investors with a measure of operating results unaffected by differences in capital structures, capital investment cycles and ages of related assets among otherwise comparable companies. For these reasons, we believe Adjusted EBITDA is also useful to investors as a metric in their investment decisions. The reader is cautioned that the Company’s Adjusted EBITDA should not be compared to other entities unknowingly. Adjusted EBITDA should not be considered an alternative to, or more meaningful than, income before income taxes as determined in accordance with GAAP. EBIT, adjusted EBIT and adjusted EBITDA may not be indicative of our historical operating results, nor is it meant to be predictive of potential future results. See the financial statement section of this earnings release for a reconciliation of EBIT, adjusted EBIT and adjusted EBITDA to income before income taxes, and adjusted earnings per share to earnings per share. We have not provided a reconciliation of our second-quarter and full-year fiscal 2027 adjusted EBITDA guidance because material terms that impact such measure are not in our control and/or cannot be reasonably predicted, and therefore a reconciliation of such measure is not available without unreasonable effort.

Forward-Looking Statements

This press release includes forward-looking statements relating to our business. These forward-looking statements, or other statements made by us, are made based on our expectations and beliefs concerning future events impacting us and are subject to uncertainties and factors (including those specified below), which are difficult to predict and, in many instances, are beyond our control. As a result, our actual results could differ materially from those expressed in or implied by any such forward-looking statements. These uncertainties and factors include (a) global and regional markets and general economic conditions, including uncertainties surrounding the volatility in financial markets, the availability of capital and the viability of banks and other financial institutions; (b) the prices, supply and availability of raw materials, including assorted pigments, resins, solvents, and other natural gas- and oil-based materials; packaging, including plastic and metal containers; and transportation services, including fuel surcharges; (c) continued growth in demand for our products; (d) legal, environmental and litigation risks inherent in our businesses and risks related to the adequacy of our insurance coverage for such matters; (e) the effect of changes in interest rates; (f) the effect of fluctuations in currency exchange rates upon our foreign operations; (g) changes in global trade policies, including the adoption or expansion of tariffs and trade barriers; (h) the effect of non-currency risks of investing in and conducting operations in foreign countries, including those relating to domestic and international political, social, economic and regulatory factors; (i) risks and uncertainties associated with our ongoing acquisition and divestiture activities; (j) the timing of and the realization of anticipated cost savings from restructuring initiatives, the ability to identify additional cost savings opportunities, and the risks of failing to meet any other objectives of our improvement plans; (k) risks related to the adequacy of our contingent liability reserves; (l) risks relating to a public health crisis similar to the Covid pandemic; (m) risks related to acts of war similar to the Middle East conflict and the Russian invasion of Ukraine; (n) risks related to the transition or physical impacts of climate change and other natural disasters or meeting sustainability-related voluntary goals or regulatory requirements; (o) risks related to our or our third parties’ use of technology including AI, data breaches and data privacy violations; (p) the shift to remote work and online purchasing and the impact that has on residential and commercial real estate construction; and (q) other risks detailed in our filings with the Securities and Exchange Commission, including the risk factors set forth in our Annual Report on Form 10-K for the year ended May 31, 2026, as the same may be updated from time to time. We do not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the filing date of this press release.

RPM Reports Results for Fiscal 2027 1st Quarter

October 6, 2026

Page 8

CONSOLIDATED STATEMENTS OF INCOME

IN THOUSANDS, EXCEPT PER SHARE DATA

(Unaudited)

		Three Months Ended
		August 31,				August 31,
		2026				2025
Net Sales		$	2,215,593			$	2,113,743
Cost of Sales			1,301,631				1,220,527
Gross Profit			913,962				893,216
Selling, General & Administrative Expenses			559,768				573,534
Restructuring Expense			5,157				8,814
Interest Expense			25,535				29,326
Investment (Income), Net			(7,518	)			(13,404	)
Other (Income), Net			(6,033	)			(3,101	)
Income Before Income Taxes			337,053				298,047
Provision for Income Taxes			80,427				70,207
Net Income			256,626				227,840
Less: Net Income Attributable to Noncontrolling Interests			269				235
Net Income Attributable to RPM International Inc. Stockholders		$	256,357			$	227,605
Earnings per share of common stock attributable to RPM International Inc. Stockholders:
Basic		$	2.02			$	1.78
Diluted		$	2.01			$	1.77
Average shares of common stock outstanding - basic			126,744				127,283
Average shares of common stock outstanding - diluted			127,240				127,950

RPM Reports Results for Fiscal 2027 1st Quarter

October 6, 2026

Page 9

SUPPLEMENTAL SEGMENT INFORMATION 

IN THOUSANDS 

(Unaudited) 

		Three Months Ended
		August 31,				August 31,
		2026				2025
Net Sales:
CPG Segment		$	859,209			$	851,997
PCG Segment			629,650				571,593
Consumer Segment			726,734				690,153
Total		$	2,215,593			$	2,113,743
Income Before Income Taxes:
CPG Segment
Income Before Income Taxes (a)		$	149,110			$	159,184
Interest (Expense), Net (b)			(896	)			(1,623	)
EBIT (c)			150,006				160,807
MAP initiatives (d)			1,292				5,180
(Gain) on acquisition earn-out fair value adjustments (f)			(4,700	)			—
Adjusted EBIT			146,598				165,987
Depreciation (h)			16,928				15,431
Amortization (i)			2,667				2,526
Adjusted EBITDA (j)		$	166,193			$	183,944
PCG Segment
Income Before Income Taxes (a)		$	107,302			$	86,795
Interest Income, Net (b)			1,716				1,730
EBIT (c)			105,586				85,065
MAP initiatives (d)			2,503				4,937
Inventory step-up costs (e)			57				—
(Gain) on acquisition earn-out fair value adjustments (f)			(245	)			—
Adjusted EBIT			107,901				90,002
Depreciation (h)			9,883				9,382
Amortization (i)			3,289				3,032
Adjusted EBITDA (j)		$	121,073			$	102,416
Consumer Segment
Income Before Income Taxes (a)		$	132,279			$	108,837
Interest (Expense), Net (b)			(118	)			(272	)
EBIT (c)			132,397				109,109
MAP initiatives (d)			(4,930	)			3,752
Inventory step-up costs (e)			—				7,117
Adjusted EBIT			127,467				119,978
Depreciation (h)			13,110				13,203
Amortization (i)			5,999				5,787
Adjusted EBITDA (j)		$	146,576			$	138,968
Corporate/Other
(Loss) Before Income Taxes (a)		$	(51,638	)		$	(56,769	)
Interest (Expense), Net (b)			(18,719	)			(15,757	)
EBIT (c)			(32,919	)			(41,012	)
MAP initiatives (d)			2,573				2,837
Deferred compensation (g)			1,120				—
Adjusted EBIT			(29,226	)			(38,175	)
Depreciation (h)			803				772
Amortization (i)			38				123
Adjusted EBITDA (j)		$	(28,385	)		$	(37,280	)
TOTAL CONSOLIDATED
Income Before Income Taxes (a)		$	337,053			$	298,047
Interest (Expense)			(25,535	)			(29,326	)
Investment Income, Net			7,518				13,404
EBIT (c)			355,070				313,969
MAP initiatives (d)			1,438				16,706
Inventory step-up costs (e)			57				7,117
(Gain) on acquisition earn-out fair value adjustments (f)			(4,945	)			—
Deferred compensation (g)			1,120				—
Adjusted EBIT			352,740				337,792
Depreciation (h)			40,724				38,788
Amortization (i)			11,993				11,468
Adjusted EBITDA (j)		$	405,457			$	388,048

(a) The presentation includes a reconciliation of Income (Loss) Before Income Taxes, a measure defined by Generally Accepted Accounting Principles in the United States (GAAP), to EBIT, Adjusted EBIT and Adjusted EBITDA.

(b) Interest Income (Expense), Net includes the combination of Interest Income (Expense) and Investment Income (Expense), Net.

RPM Reports Results for Fiscal 2027 1st Quarter

October 6, 2026

Page 10

(c) EBIT is defined as earnings (loss) before interest and taxes, with Adjusted EBIT provided for the purpose of adjusting for items impacting earnings that are not considered by management to be indicative of ongoing operations. We evaluate the profit performance of our segments based on income before income taxes, but also look to EBIT, or adjusted EBIT, as a performance evaluation measure because Interest Income (Expense), Net is essentially related to corporate functions, as opposed to segment operations. For that reason, we believe EBIT is also useful to investors as a metric in their investment decisions. EBIT should not be considered an alternative to, or more meaningful than, income before income taxes as determined in accordance with GAAP, since EBIT omits the impact of interest and investment income or expense in determining operating performance, which represent items necessary to our continued operations, given our level of indebtedness. Nonetheless, EBIT is a key measure expected by and useful to our fixed income investors, rating agencies and the banking community all of whom believe, and we concur, that this measure is critical to the capital markets’ analysis of our segments’ core operating performance. We also evaluate EBIT because it is clear that movements in EBIT impact our ability to attract financing. EBIT may not be indicative of our historical operating results, nor is it meant to be predictive of potential future results.

(d) Reflects restructuring and other charges, which have been incurred in relation to our Margin Achievement Plan (“MAP 2025”) and our 2026 restructuring action, together MAP Initiatives, as follows:

- MAP 2025 Restructuring and other related expense, net: Includes charges incurred related to headcount reductions and facility closures recorded in “Restructuring Expense” on the Consolidated Statements of Income. Restructuring Expense related to MAP 2025 totaled $0.7 million and $8.8 million for the three months ended August 31, 2026 and August 31, 2025 respectively. Other related expenses include inventory write-offs in connection with restructuring activities recorded in “Cost of Sales” and accelerated depreciation and amortization recorded within “Cost of Sales” or “Selling, General, & Administrative Expenses (“SG&A”)” depending on the nature of the expense.

- 2026 Restructuring and other related expense, net: Includes charges incurred related to headcount reductions and facility closures associated with the SG&A-focused optimization actions and other early stage MAP 3.0 actions recorded in “Restructuring Expense” on the Consolidated Statements of Income. Restructuring Expense related to the 2026 restructuring action totaled $4.5 million for the quarter ended August 31, 2026. Other related expenses consist of higher executive departure costs, including accelerated stock compensation expense, that do not qualify as restructuring expense and are recorded within “SG&A” as well as accelerated depreciation recorded within “Cost of Sales” or “SG&A” depending on the nature of the expense. Other related expenses also includes inventory write-offs in connection with restructuring activities recorded in “Cost of Sales”.

- ERP consolidation plan: Includes expenses incurred as a result of our stated goals to consolidate over 75 ERP systems across the organization to one ERP platform per segment, as part of our overall MAP strategy as well as costs incurred for other decision support tools to facilitate our commercial initiatives related to MAP 2025 which have been incurred in all segments, as well as Corporate/Other, and have been recorded within “SG&A”.

- Professional fees: Includes expenses incurred to consolidate accounting locations, costs incurred to implement technologies and processes to drive improved data analytics/decision making and cost incurred to implement new global manufacturing methodologies with the goal of improving operating efficiency incurred within all of our segments as well as Corporate/Other and recorded within “SG&A”.All of this spend is in support of stated MAP goals with the most significant expense incurred within Corporate/Other.

- (Gain) on sale of closed facilities, net: Net gain recognized related to the sale of certain properties within the PCG and Consumer Segments which were closed as part of the MAP 2025 program.

Included below is a reconciliation of the TOTAL CONSOLIDATED MAP initiatives.

		Three Months Ended
		August 31,				August 31,
		2026				2025
MAP 2025 Restructuring and other related expense, net		$	732			$	10,599
2026 Restructuring and other related expense, net			5,522				—
ERP consolidation plan			1,809				2,966
Professional fees			4,128				3,141
(Gain) on sale of closed facilities, net			(10,753	)			—
MAP initiatives		$	1,438			$	16,706

(e) Amortization of inventory fair value adjustments related to acquisitions recorded in “Cost of Sales”.

(f) Fair value adjustments of the earn-out liabilities associated with two small acquisitions, which were recorded in “SG&A”. Management does not consider these gains to be reflective of the company’s core business operations.

(g) This adjustment eliminates the compensation expense impact from market valuation changes in deferred compensation liabilities. Although not included in this schedule, the company also adjusts the related net gains (losses) on investments used as economic hedges against the related liabilities. The liabilities are adjusted based on the performance of hypothetical investments selected by participants. Management believes it is useful to offset the non-operating investment income (loss) of the investments against the related compensation expense and remove the net impact to help the reader’s ability to understand the company’s core operating results and to increase comparability period to period.

(h) Depreciation expense includes charges to income that result from property, plant and equipment depreciation and the amortization of assets recorded under finance leases recorded within “Cost of Sales” or “SG&A” depending on the nature of the expense. This excludes accelerated depreciation related to MAP initiatives.

(i) Amortization expense includes intangible asset amortization as well as amortization of deferred cloud computing implementation costs.

(j) Management believes that investors’ understanding of the Company’s operating performance is enhanced by the disclosure of Adjusted EBITDA, which is a non-GAAP financial measure defined as earnings (loss) before interest, taxes, depreciation and amortization adjusted for items impacting earnings that are not considered by management to be indicative of ongoing operations. We evaluate the profit performance of our segments based on income before income taxes, but also look to adjusted EBITDA, as a performance evaluation measure because Interest Income (Expense), Net is essentially related to corporate functions, as opposed to segment operations. Additionally, Adjusted EBITDA is an operating measure that provides investors with a measure of operating results unaffected by differences in capital structures, capital investment cycles and ages of related assets among otherwise comparable companies. For these reasons, we believe Adjusted EBITDA is also useful to investors as a metric in their investment decisions. The reader is cautioned that the Company’s Adjusted EBITDA should not be compared to other entities unknowingly. Adjusted EBITDA should not be considered an alternative to, or more meaningful than, income before income taxes as determined in accordance with GAAP.

RPM Reports Results for Fiscal 2027 1st Quarter

October 6, 2026

Page 11

SUPPLEMENTAL INFORMATION

RECONCILIATION OF “REPORTED” TO “ADJUSTED” AMOUNTS

(Unaudited)

		Three Months Ended
		August 31,				August 31,
		2026				2025
Reconciliation of Reported Earnings per Diluted Share to Adjusted Earnings per Diluted Share (All amounts presented after-tax):
Reported Earnings per Diluted Share		$	2.01			$	1.77
MAP initiatives (d)			0.01				0.10
Inventory step-up costs (e)			—				0.04
(Gain) on acquisition earn-out fair value adjustments (f)			(0.03	)			—
Investment returns (g)			(0.01	)			(0.03	)
Adjusted Earnings per Diluted Share (k)		$	1.98			$	1.88

(d) Reflects restructuring and other charges, which have been incurred in relation to our Margin Achievement Plan (“MAP 2025”) and our 2026 restructuring action, together MAP Initiatives, as follows:

- MAP 2025 Restructuring and other related expense, net: Includes charges incurred related to headcount reductions and facility closures recorded in “Restructuring Expense” on the Consolidated Statements of Income. Restructuring Expense related to MAP 2025 totaled $0.7 million and $8.8 million for the three months ended August 31, 2026 and August 31, 2025 respectively. Other related expenses include inventory write-offs in connection with restructuring activities recorded in “Cost of Sales” and accelerated depreciation and amortization recorded within “Cost of Sales” or “Selling, General, & Administrative Expenses (“SG&A”)” depending on the nature of the expense.

- 2026 Restructuring and other related expense, net: Includes charges incurred related to headcount reductions and facility closures associated with the SG&A-focused optimization actions and other early stage MAP 3.0 actions recorded in “Restructuring Expense” on the Consolidated Statements of Income. Restructuring Expense related to the 2026 restructuring action totaled $4.5 million for the quarter ended August 31, 2026. Other related expenses consist of higher executive departure costs, including accelerated stock compensation expense, that do not qualify as restructuring expense and are recorded within “SG&A” as well as accelerated depreciation recorded within “Cost of Sales” or “SG&A” depending on the nature of the expense. Other related expenses also includes inventory write-offs in connection with restructuring activities recorded in “Cost of Sales”.

- ERP consolidation plan: Includes expenses incurred as a result of our stated goals to consolidate over 75 ERP systems across the organization to one ERP platform per segment, as part of our overall MAP strategy as well as costs incurred for other decision support tools to facilitate our commercial initiatives related to MAP 2025 which have been incurred in all segments, as well as Corporate/Other, and have been recorded within “SG&A”.

- Professional fees: Includes expenses incurred to consolidate accounting locations, costs incurred to implement technologies and processes to drive improved data analytics/decision making and cost incurred to implement new global manufacturing methodologies with the goal of improving operating efficiency incurred within all of our segments as well as Corporate/Other and recorded within “SG&A”. All of this spend is in support of stated MAP goals with the most significant expense incurred within Corporate/Other.

- (Gain) on sale of closed facilities, net: Net gain recognized related to the sale of certain properties within the PCG and Consumer Segments which were closed as part of the MAP 2025 program.

(e) Amortization of inventory fair value adjustments related to acquisitions recorded in “Cost of Sales”.

(f) Fair value adjustments of the earn-out liabilities associated with two small acquisitions, which were recorded in “SG&A”. Management does not consider these gains to be reflective of the company’s core business operations.

(g) Investment returns include realized net gains and losses on sales of investments and unrealized net gains and losses on equity securities, which are adjusted due to their inherent volatility. Management does not consider these gains and losses, which cannot be predicted with any level of certainty, to be reflective of the Company’s core business operations.

(k) Adjusted Diluted EPS is provided for the purpose of adjusting diluted earnings per share for items impacting earnings that are not considered by management to be indicative of ongoing operations.

RPM Reports Results for Fiscal 2027 1st Quarter

October 6, 2026

Page 12

CONSOLIDATED BALANCE SHEETS

IN THOUSANDS

(Unaudited)

		August 31, 2026				August 31, 2025				May 31, 2026
Assets
Current Assets
Cash and cash equivalents		$	312,842			$	297,075			$	315,188
Trade accounts receivable			1,556,199				1,515,499				1,700,717
Allowance for doubtful accounts			(38,236	)			(42,506	)			(39,179	)
Net trade accounts receivable			1,517,963				1,472,993				1,661,538
Inventories			1,140,432				1,068,183				1,058,911
Prepaid expenses and other current assets			405,141				365,271				423,198
Total current assets			3,376,378				3,203,522				3,458,835
Property, Plant and Equipment, at Cost			2,952,267				2,805,421				2,919,058
Allowance for depreciation			(1,399,118	)			(1,306,637	)			(1,362,540	)
Property, plant and equipment, net			1,553,149				1,498,784				1,556,518
Other Assets
Goodwill			1,686,520				1,657,612				1,688,164
Other intangible assets, net of amortization			813,600				832,195				824,638
Operating lease right-of-use assets			389,937				394,831				396,936
Deferred income taxes			113,035				147,436				116,474
Other			298,019				210,165				303,040
Total other assets			3,301,111				3,242,239				3,329,252
Total Assets		$	8,230,638			$	7,944,545			$	8,344,605
Liabilities and Stockholders’ Equity
Current Liabilities
Accounts payable		$	889,731			$	762,013			$	853,524
Current portion of long-term debt			407,497				7,434				407,834
Accrued compensation and benefits			185,200				189,846				307,299
Accrued losses			49,019				30,749				51,258
Other accrued liabilities			391,253				424,834				441,148
Total current liabilities			1,922,700				1,414,876				2,061,063
Long-Term Liabilities
Long-term debt, less current maturities			1,999,028				2,661,990				2,125,690
Operating lease liabilities			334,729				340,420				341,283
Other long-term liabilities			256,569				243,524				258,641
Deferred income taxes			237,280				227,141				244,823
Total long-term liabilities			2,827,606				3,473,075				2,970,437
Total liabilities			4,750,306				4,887,951				5,031,500
Stockholders’ Equity
Preferred stock; none issued			—				—				—
Common stock (outstanding 127,554; 128,219; 127,643)			1,276				1,282				1,276
Paid-in capital			1,220,252				1,183,272				1,210,651
Treasury stock, at cost			(1,067,754	)			(973,372	)			(1,036,645	)
Accumulated other comprehensive (loss)			(446,690	)			(512,832	)			(447,200	)
Retained earnings			3,771,739				3,356,848				3,583,451
Total RPM International Inc. stockholders’ equity			3,478,823				3,055,198				3,311,533
Noncontrolling interest			1,509				1,396				1,572
Total equity			3,480,332				3,056,594				3,313,105
Total Liabilities and Stockholders’ Equity		$	8,230,638			$	7,944,545			$	8,344,605

RPM Reports Results for Fiscal 2027 1st Quarter

October 6, 2026

Page 13

CONSOLIDATED STATEMENTS OF CASH FLOWS 

IN THOUSANDS 

(Unaudited) 

		Three Months Ended
		August 31,				August 31,
		2026				2025
Cash Flows From Operating Activities:
Net income		$	256,626			$	227,840
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			53,075				51,464
Fair value adjustments to contingent earnout obligations			(4,945	)			—
Deferred income taxes			(3,817	)			1,304
Stock-based compensation expense			9,601				5,475
Net (gain) on marketable securities			(2,032	)			(8,673	)
Net (gain) of sales of assets			(10,505	)			—
Other			244				(324	)
Changes in assets and liabilities, net of effect from purchases and sales of businesses:
Decrease in receivables			142,204				49,331
(Increase) in inventory			(81,609	)			(16,005	)
(Increase) in prepaid expenses and other current and long-term assets			(9,868	)			(18,051	)
Increase in accounts payable			57,344				7,810
(Decrease) in accrued compensation and benefits			(121,260	)			(99,296	)
(Decrease) in accrued losses			(2,320	)			(6,098	)
(Decrease) increase in other accrued liabilities			(18,802	)			42,733
Cash Provided By Operating Activities			263,936				237,510
Cash Flows From Investing Activities:
Capital expenditures			(58,505	)			(62,461	)
Acquisition of businesses, net of cash acquired			—				(115,695	)
Purchase of marketable securities			(10,243	)			(6,283	)
Proceeds from sales of marketable securities			1,526				1,525
Proceeds from sales of assets			27,634				—
Other			(238	)			523
Cash (Used For) Investing Activities			(39,826	)			(182,391	)
Cash Flows From Financing Activities:
Additions to long-term and short-term debt			148,886				35,000
Reductions of long-term and short-term debt			(276,448	)			(14,972	)
Cash dividends			(68,069	)			(64,521	)
Repurchases of common stock			(22,386	)			(17,500	)
Shares of common stock returned for taxes			(8,987	)			(1,921	)
Other			(278	)			(221	)
Cash (Used For) Financing Activities			(227,282	)			(64,135	)
Effect of Exchange Rate Changes on Cash and Cash Equivalents			826				3,954
Net Change in Cash and Cash Equivalents			(2,346	)			(5,062	)
Cash and Cash Equivalents at Beginning of Period			315,188				302,137
Cash and Cash Equivalents at End of Period		$	312,842			$	297,075

Exhibit 99.2

SUPPLEMENTAL SEGMENT INFORMATION

IN THOUSANDS

(Unaudited)

		Three Months Ended																Year Ended
		August 31,				November 30,				February 28,				May 31,				May 31,
		2025				2025				2026				2026				2026
Net Sales:
CPG Segment		$	851,997			$	706,304			$	518,531			$	865,203			$	2,942,035
PCG Segment			571,593				569,650				528,053				605,679				2,274,975
Consumer Segment			690,153				633,941				561,365				760,953				2,646,412
Total		$	2,113,743			$	1,909,895			$	1,607,949			$	2,231,835			$	7,863,422
Income Before Income Taxes:
CPG Segment
Income Before Income Taxes (a)		$	159,184			$	91,007			$	20,008			$	162,191			$	432,390
Interest (Expense), Net (b)			(1,623	)			(1,871	)			(1,516	)			(995	)			(6,005	)
EBIT (c)			160,807				92,878				21,524				163,186				438,395
MAP initiatives (d)			5,180				3,500				6,701				7,236				22,617
Inventory step-up costs (e)			—				—				—				102				102
(Gain) on sale of assets and businesses, net (f)			—				(400	)			—				—				(400	)
Adjusted EBIT			165,987				95,978				28,225				170,524				460,714
Depreciation (j)			15,431				16,132				15,643				17,615				64,821
Amortization (k)			2,526				2,548				2,598				2,700				10,372
Adjusted EBITDA (l)		$	183,944			$	114,658			$	46,466			$	190,839			$	535,907
PCG Segment
Income Before Income Taxes (a)		$	86,795			$	86,018			$	63,345			$	89,348			$	325,506
Interest Income, Net (b)			1,730				1,915				1,865				1,556				7,066
EBIT (c)			85,065				84,103				61,480				87,792				318,440
MAP initiatives (d)			4,937				2,022				6,921				2,571				16,451
Inventory step-up costs (e)			—				41				101				49				191
(Gain) on acquisition earn-out fair value adjustment (g)			—				—				—				(1,710	)			(1,710	)
Environmental expense for a closed facility (h)			—				—				—				1,000				1,000
Adjusted EBIT			90,002				86,166				68,502				89,702				334,372
Depreciation (j)			9,382				9,381				9,545				10,121				38,429
Amortization (k)			3,032				3,134				3,216				3,340				12,722
Adjusted EBITDA (l)		$	102,416			$	98,681			$	81,263			$	103,163			$	385,523
Consumer Segment
Income Before Income Taxes (a)		$	108,837			$	99,908			$	46,306			$	106,870			$	361,921
Interest (Expense), Net (b)			(272	)			(118	)			(83	)			(251	)			(724	)
EBIT (c)			109,109				100,026				46,389				107,121				362,645
MAP initiatives (d)			3,752				1,206				12,500				6,224				23,682
Inventory step-up costs (e)			7,117				786				—				—				7,903
(Gain) on acquisition earn-out fair value adjustments (g)			—				(12,707	)			—				—				(12,707	)
Property, plant and equipment impairment (i)			—				—				—				9,721				9,721
Adjusted EBIT			119,978				89,311				58,889				123,066				391,244
Depreciation (j)			13,203				13,432				13,943				14,336				54,914
Amortization (k)			5,787				5,896				6,001				5,948				23,632
Adjusted EBITDA (l)		$	138,968			$	108,639			$	78,833			$	143,350			$	469,790
Corporate/Other
(Loss) Before Income Taxes (a)		$	(56,769	)		$	(65,938	)		$	(60,352	)		$	(66,418	)		$	(249,477	)
Interest (Expense), Net (b)			(15,757	)			(17,905	)			(15,034	)			(16,296	)			(64,992	)
EBIT (c)			(41,012	)			(48,033	)			(45,318	)			(50,122	)			(184,485	)
MAP initiatives (d)			2,837				3,210				6,102				5,430				17,579
Adjusted EBIT			(38,175	)			(44,823	)			(39,216	)			(44,692	)			(166,906	)
Depreciation (j)			772				741				767				808				3,088
Amortization (k)			123				124				66				38				351
Adjusted EBITDA (l)		$	(37,280	)		$	(43,958	)		$	(38,383	)		$	(43,846	)		$	(163,467	)
TOTAL CONSOLIDATED
Income Before Income Taxes (a)		$	298,047			$	210,995			$	69,307			$	291,991			$	870,340
Interest (Expense)			(29,326	)			(28,005	)			(26,947	)			(27,266	)			(111,544	)
Investment Income, Net			13,404				10,026				12,179				11,280				46,889
EBIT (c)			313,969				228,974				84,075				307,977				934,995
MAP initiatives (d)			16,706				9,938				32,224				21,461				80,329
Inventory step-up costs (e)			7,117				827				101				151				8,196
(Gain) on sale of assets and businesses, net (f)			—				(400	)			—				—				(400	)
(Gain) on acquisition earn-out fair value adjustments (g)			—				(12,707	)			—				(1,710	)			(14,417	)
Environmental expense for a closed facility (h)			—				—				—				1,000				1,000
Property, plant and equipment impairment (i)			—				—				—				9,721				9,721
Adjusted EBIT			337,792				226,632				116,400				338,600				1,019,424
Depreciation (j)			38,788				39,686				39,898				42,880				161,252
Amortization (k)			11,468				11,702				11,881				12,026				47,077
Adjusted EBITDA (l)		$	388,048			$	278,020			$	168,179			$	393,506			$	1,227,753

(a) The presentation includes a reconciliation of Income (Loss) Before Income Taxes, a measure defined by Generally Accepted Accounting Principles in the United States (GAAP), to EBIT, Adjusted EBIT and Adjusted EBITDA.

(b) Interest Income (Expense), Net includes the combination of Interest Income (Expense) and Investment Income (Expense), Net.

(c) EBIT is defined as earnings (loss) before interest and taxes, with Adjusted EBIT provided for the purpose of adjusting for items impacting earnings that are not considered by management to be indicative of ongoing operations. We evaluate the profit performance of our segments based on income before income taxes, but also look to EBIT, or adjusted EBIT, as a performance evaluation measure because Interest Income (Expense), Net is essentially related to corporate functions, as opposed to segment operations. For that reason, we believe EBIT is also useful to investors as a metric in their investment decisions. EBIT should not be considered an alternative to, or more meaningful than, income before income taxes as determined in accordance with GAAP, since EBIT omits the impact of interest and investment income or expense in determining operating performance, which represent items necessary to our continued operations, given our level of indebtedness. Nonetheless, EBIT is a key measure expected by and useful to our fixed income investors, rating agencies and the banking community all of whom believe, and we concur, that this measure is critical to the capital markets’ analysis of our segments’ core operating performance. We also evaluate EBIT because it is clear that movements in EBIT impact our ability to attract financing. EBIT may not be indicative of our historical operating results, nor is it meant to be predictive of potential future results.

(d) Reflects restructuring and other charges, which have been incurred in relation to our Margin Achievement Plan (“MAP 2025”) and our 2026 restructuring action, together MAP Initiatives, as follows:

- MAP 2025 Restructuring and other related expense, net: Includes charges incurred related to headcount reductions and facility closures recorded in “Restructuring Expense” on the Consolidated Statements of Income. Restructuring Expense related to MAP 2025 totaled $8.8 million, $4.5 million, $3.0 million and $1.9 million for the quarters ended August 31, 2025, November 30, 2025, February 28, 2026 and May 31, 2026 respectively and $18.2 million for the year ended May 31, 2026. Other related expenses include inventory write-offs in connection with restructuring activities recorded in “Cost of Sales” and accelerated depreciation and amortization recorded within “Cost of Sales” or “Selling, General, & Administrative Expenses (“SG&A”)” depending on the nature of the expense.

- 2026 Restructuring and other related expense, net: Includes charges incurred related to headcount reductions and facility closures associated with the SG&A-focused optimization actions and other early stage MAP 3.0 actions recorded in “Restructuring Expense” on the Consolidated Statements of Income. Restructuring Expense related to the 2026 restructuring action totaled $16.9 million and $7.5 million for the quarters ended February 28, 2026 and May 31, 2026 respectively and $24.4 million for the year ended May 31, 2026. Other related expenses consist of higher executive departure costs, including accelerated stock compensation expense, that do not qualify as restructuring expense and are recorded within “SG&A” as well as accelerated depreciation recorded within “Cost of Sales” or “SG&A” depending on the nature of the expense. Other related expenses also includes inventory write-offs in connection with restructuring activities recorded in “Cost of Sales”.

- ERP consolidation plan: Includes expenses incurred as a result of our stated goals to consolidate over 75 ERP systems across the organization to one ERP platform per segment, as part of our overall MAP strategy as well as costs incurred for other decision support tools to facilitate our commercial initiatives related to MAP 2025 which have been incurred in all segments, as well as Corporate/Other, and have been recorded within “SG&A”.

- Professional fees: Includes expenses incurred to consolidate accounting locations, costs incurred to implement technologies and processes to drive improved data analytics/decision making and cost incurred to implement new global manufacturing methodologies with the goal of improving operating efficiency incurred within all of our segments as well as Corporate/Other and recorded within “SG&A”. All of this spend is in support of stated MAP goals with the most significant expense incurred within Corporate/Other.

- (Gain) on sale of closed facilities, net: Net gain recognized related to the sale of certain properties within the PCG and Consumer Segments which were closed as part of the MAP 2025 program.

Included below is a reconciliation of the TOTAL CONSOLIDATED MAP initiatives.

		Three Months Ended																Year Ended
		August 31, 2025				November 30, 2025				February 28, 2026				May 31, 2026				May 31, 2026
MAP 2025 Restructuring and other related expense, net		$	10,599			$	6,637			$	3,132			$	2,691			$	23,059
2026 Restructuring and other related expense, net			—				—				22,110				9,972				32,082
ERP consolidation plan			2,966				4,440				3,643				2,690				13,739
Professional fees			3,141				3,201				3,229				7,749				17,320
(Gain) loss on sale of closed facilities, net			—				(4,340	)			110				(1,641	)			(5,871	)
MAP initiatives		$	16,706			$	9,938			$	32,224			$	21,461			$	80,329

(e) Amortization of inventory fair value adjustments related to acquisitions recorded in “Cost of Sales”.

(f) Fiscal 2026 reflects gains recorded in “SG&A” associated with the divestiture of a product line and a waterproofing services business within our CPG segment.

(g) Fair value adjustments of the earn-out liabilities associated with the Star Brands Group acquisition, as well as one other smaller acquisition, which were recorded in “SG&A”. Management does not consider these gains to be reflective of the company’s core business operations.

(h) Environmental remediation costs related to a facility that has not been owned or operated for approximately 25 years.

(i) Impairment charges related to property, plant and equipment in two asset groups within the Color Group reporting unit of our Consumer segment as a result of reduced cash flow projections in the coming years due to soft end markets.

(j) Depreciation expense includes charges to income that result from property, plant and equipment depreciation and the amortization of assets recorded under finance leases recorded within “Cost of Sales” or “Selling, General, & Administrative Expenses (“SG&A”)” depending on the nature of the expense. This excludes accelerated depreciation related to MAP initiatives.

(k) Amortization expense includes intangible asset amortization as well as amortization of deferred cloud computing implementation costs.

(l) Management believes that investors’ understanding of the Company’s operating performance is enhanced by the disclosure of Adjusted EBITDA, which is a non-GAAP financial measure defined as earnings (loss) before interest, taxes, depreciation and amortization adjusted for items impacting earnings that are not considered by management to be indicative of ongoing operations. We evaluate the profit performance of our segments based on income before income taxes, but also look to adjusted EBITDA, as a performance evaluation measure because Interest Income (Expense), Net is essentially related to corporate functions, as opposed to segment operations. Additionally, Adjusted EBITDA is an operating measure that provides investors with a measure of operating results unaffected by differences in capital structures, capital investment cycles and ages of related assets among otherwise comparable companies. For these reasons, we believe Adjusted EBITDA is also useful to investors as a metric in their investment decisions. The reader is cautioned that the Company’s Adjusted EBITDA should not be compared to other entities unknowingly. Adjusted EBITDA should not be considered an alternative to, or more meaningful than, income before income taxes as determined in accordance with GAAP.

Filing Exhibits & Attachments

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Press Releases

• EX-99.1 EX-99.1 252.5 KB
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Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.1 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 16.8 KB
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