Key Takeaways RPM enters fiscal 2027 with 3% to 7% sales growth outlook and favorable construction backlogs.RPM targets about $75M in SG&A savings to support 5% to 10% adjusted EBITDA growth.RPM faces DIY weakness, raw material inflation and customer concentration risks entering fiscal 2027. RPM International Inc. (RPM - Free Report) enters fiscal 2027 with operating momentum in construction-linked businesses and a still-muted consumer backdrop.
The stock story depends on whether demand for engineered systems, repair work and efficiency savings can keep offsetting do-it-yourself weakness and early-year inflation.
How RPM International Makes MoneyRPM manufactures high-performance coatings, sealants and specialty chemicals used mainly in maintenance and improvement applications. Its products were sold in nearly 167 countries and territories as of May 31, 2026.
Its mix spans Construction Products, Performance Coatings, Consumer and Specialty-related operations after portfolio changes moved units into the larger groups. Products include roofing systems, concrete repair, flooring, fireproofing, hobby paints, caulks, adhesives, wood stains and building-envelope solutions.
RPM Gains From Repair and Infrastructure DemandInfrastructure and repair work remain central to RPM’s fiscal 2027 setup. Construction Products Group sales rose 8.8% in the latest quarter, supported by concrete admixtures, roofing restoration systems and labor-saving wall systems.
Performance Coatings Group sales increased 5%, helped by fireproofing systems, infrastructure projects and emerging-market demand. Backlogs in both construction segments were favorable entering fiscal 2027, while full-year consolidated sales are expected to increase 3% to 7%.
RPM Uses Systems To Win More Project SpendRPM’s system-selling strategy gives it a way to capture more of each project. Integrated roofing, wall, flooring and building-envelope offerings can simplify procurement, reduce labor needs and shorten construction schedules.
That matters when customers are managing tight timelines and skilled-labor constraints. The strategy also differentiates RPM from broader coatings peers such as The Sherwin-Williams Company (SHW - Free Report) , a major paints and coatings company, by emphasizing bundled project solutions rather than stand-alone product volume alone.
RPM Expands With Deals and Efficiency ProgramsAcquisitions are adding capability and category exposure. Kalzip brings metal roofing and façade offerings to Construction Products, while The Pink Stuff and Ready Seal supported Consumer Group sales during soft do-it-yourself conditions.
Efficiency is the other lever. RPM expects previously announced actions to generate about $75 million of fiscal 2027 selling, general and administrative benefits, including about $25 million in the fiscal first quarter, while plant consolidation and MAP-driven process work support its 5% to 10% adjusted EBITDA growth outlook.
What Could Slow RPM InternationalCost pressure is the clearest near-term issue. Raw material inflation is expected to remain elevated in the first half of fiscal 2027, with price-cost likely somewhat negative before improving later in the year.
Consumer demand is another constraint. Organic sales in the Consumer Group declined 0.8% in the latest quarter, and unit volumes fell about 2% to 3%. Masco Corporation (MAS - Free Report) , which operates in branded home improvement and building products, offers a relevant comparison point for investors watching consumer repair and remodeling demand.
Customer concentration adds risk because large retail customers accounted for about 65% of Consumer segment sales in fiscal 2025 and 22% of consolidated sales. Weather, interest rates and broader economic conditions can also affect construction, roofing and exterior paint demand.
How RPM’s Ratings Fit This StoryThe bottom line is balanced. RPM has credible drivers in infrastructure, restoration, acquisitions and cost discipline, but the near-term signal is not aggressive because inflation and consumer softness still limit earnings visibility.
The stock currently carries a Zacks Rank #3 (Hold). Its VGM Score of D, Value Score of C, Growth Score of C and Momentum Score of F point to a mixed style profile, especially after the current fiscal-year earnings estimate moved 0.4% lower over the past four weeks. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Those ratings fit a cautious stance. The Style Scores are designed to complement the Zacks Rank, and higher scores generally indicate more favorable value, growth or momentum characteristics. RPM’s current mix suggests investors may want more confirmation from estimate trends, margin recovery and consumer stabilization before taking a stronger view.
RPM International's earnings beat and construction strength support the story, but inflation, DIY weakness and modest upside keep the stock in hold territory.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page.
Considering buying RPM stock? Here’s what analysts think:
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Russell L. Gordon, VP and CFO of RPM International Inc. (RPM +5.81%), reported a disposition of 1,137 shares of common stock on July 19, 2026, according to a recent SEC Form 4 filing.
Transaction summaryMetricValueTransaction value~$119,500Shares sold1,137Post-transaction shares (directly held)80,281Post-transaction value$8.16 millionKey questionsWhat were the mechanics behind this transaction?
The transaction was a non-discretionary sale of 1,137 shares at $105.08 per share to cover tax liabilities stemming from the vesting of performance stock units granted in 2023. This disposition was part of a pre-arranged tax-withholding process and does not reflect a discretionary trade based on the executive's view of the company's valuation.What is the insider's remaining equity exposure?
After this transaction, Gordon holds 80,281 shares directly. The CFO also holds 219,800 direct derivative securities, which include stock appreciation rights granted between 2017 and 2026 that vest in four equal annual installments.How does this activity align with the company's financial profile?
RPM International Inc. provides specialty chemicals for construction and industrial markets. As of the July 20, 2026, market close, the company had a market capitalization of $13 billion, with trailing twelve-month revenue of $7.7 billion and net income of $665.9 million.Company OverviewMetricValueShare Price (as of market close 2026-07-20)$101.63Market Capitalization$13.0 billionRevenue (TTM)$7.7 billionNet Income (TTM)$665.9 millionCompany SnapshotRPM International Inc. manufactures and distributes specialty chemicals for construction, industrial, specialty, and consumer markets, including waterproofing and coating systems, sealants, air barriers, roofing solutions, and resin flooring systems across four operating segments.The company generates revenue through the development and sale of high-performance specialty chemical products that address specific application needs in construction, building maintenance, industrial manufacturing, and consumer home improvement sectors.RPM serves a diverse customer base, including construction contractors, building maintenance professionals, industrial manufacturers, and residential consumers seeking specialized chemical solutions for waterproofing, sealing, bonding, and protective coating applications.RPM International Inc. is a $13.0 billion market capitalization specialty chemicals manufacturer generating $7.7 billion in TTM revenue. The company maintains a diversified portfolio across construction, industrial, and consumer markets, leveraging proprietary formulations and established distribution networks to compete in fragmented specialty chemical segments. RPM's strategic positioning in high-growth end markets such as building weatherization, infrastructure maintenance, and industrial flooring solutions provides sustainable competitive advantages through product differentiation and customer relationships.
What this transaction means for investorsThe performance shares that triggered this filing were granted in 2023 and paid out this month, which means the vesting rewards three years of results that just culminated in a strong finish. Gordon kept 80,281 shares plus a large stack of appreciation rights, and ultimately, nothing about a withholding trade signals his view of the stock.
The timing does line up with news, though. RPM just capped fiscal 2026 with record fourth-quarter results, each of its three segments growing sales and adjusted operating profit, and CEO Frank Sullivan noted the quarter marked "the 16th time in the past 18 quarters” the company hit record adjusted EBIT — despite eight straight quarters of weak do-it-yourself demand. Against the records, long-term investors should keep an eye on this dynamic and the consumer softness. RPM keeps setting profit highs on cost discipline and its construction and coatings segments, but a persistently weak DIY market is the drag that has offset its efficiency, and with shares down about 4% in the past year, it’s clear investors are craving more.
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About the Author
Jonathan Ponciano is a contributing stock market analyst at The Motley Fool. He has nearly a decade of experience as a financial journalist, most recently as an editor and senior reporter at Forbes focused on markets, technology, and entrepreneurship. Jonathan has also written for Investopedia and the Los Angeles Business Journal. He holds a dual B.A. in Business Journalism and Economics from the University of North Carolina at Chapel Hill and an M.B.A. from Columbia Business School. A North Carolina native now based in New York City, Jonathan has also lived in Mexico City and Los Angeles.
Janeen B. Kastner, the vice president of corporate benefits and risk management of RPM International Inc. (RPM +5.81%), disposed of 1,137 shares of common stock on July 19, 2026, according to a recent SEC Form 4 filing.
Transaction summaryMetricValueTransaction value$119,500Shares sold1,137Post-transaction shares (directly held)~135,000Post-transaction shares (indirectly held)1,123Post-transaction value$13.85 millionTransaction value based on SEC Form 4 weighted average sale price ($105.08).
Key questionsWas this a discretionary market transaction?
No, this was a non-discretionary transaction where the insider disposed of shares back to the issuer specifically to satisfy tax withholding obligations. These obligations were triggered by the vesting of Performance Stock Units originally granted to Janeen B. Kastner in 2023.What is the insider's total remaining equity interest in the company?
Beyond the roughly 136,000 shares held directly and through the company 401(k) plan, the insider also holds 212,000 stock appreciation rights. These derivative securities were granted between 2017 and 2026 and are set to vest in four equal annual installments starting one year from their respective grant dates.How does the company's current valuation compare to its recent financial performance?
As of the July 20, 2026, market close, shares were priced at $101.63, resulting in a market capitalization of $13 billion. This valuation is supported by trailing twelve-month revenue of $7.7 billion and net income of $665.9 million generated across the company's four primary operating segments: CPG, PCG, Consumer, and SPG.Company OverviewMetricValueShare Price (as of market close 2026-07-20)$101.63Market Capitalization$13.0 billionRevenue (TTM)$7.7 billionNet Income (TTM)$665.9 millionCompany SnapshotRPM International Inc. manufactures and distributes specialty chemicals for construction, industrial, specialty, and consumer markets, including waterproofing and coating systems, sealants, air barriers, roofing solutions, and resin flooring systems across four operating segments.The company generates revenue through the development and sale of high-performance specialty chemical products that address specific application needs in construction, building maintenance, industrial manufacturing, and consumer home improvement sectors.RPM serves a diverse customer base, including construction contractors, building maintenance professionals, industrial manufacturers, and residential consumers seeking specialized chemical solutions for waterproofing, sealing, bonding, and protective coating applications.RPM International Inc. is a $13 billion market capitalization specialty chemicals manufacturer with approximately 17,778 employees, generating $7.7 billion in TTM revenue. The company maintains a diversified portfolio across construction, industrial, and consumer markets, leveraging proprietary formulations and established distribution networks to compete in fragmented specialty chemical segments. RPM's strategic positioning in high-growth end markets such as building weatherization, infrastructure maintenance, and industrial flooring solutions provides sustainable competitive advantages through product differentiation and customer relationships.
What this transaction means for investorsKastner runs corporate benefits and risk management, so she of all people understands that a vesting event brings a tax bill, and that's exactly what this filing is. The same 2023 performance shares that vested for other RPM executives this week vested for her too, and 1,137 of them went to withholding rather than to the market. She holds around 136,000 shares across direct and retirement accounts, plus 212,000 appreciation rights, so her tie to the company runs deep.
RPM just closed fiscal 2026 on a high note, posting record fourth-quarter results as all three of its main segments grew despite persistent weakness in do-it-yourself consumer spending. The company produced $899 million in operating cash flow, one of its best years ever, and lifted its dividend for a 52nd straight year. CEO Frank Sullivan pointed to "system selling," bundling multiple products into engineered solutions, as a growth driver. Still, consumer softness remains a swing factor. RPM's construction and coatings businesses have carried the load thus far, but the DIY market's recovery would remove the one drag on an otherwise strong run.
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About the Author
Jonathan Ponciano is a contributing stock market analyst at The Motley Fool. He has nearly a decade of experience as a financial journalist, most recently as an editor and senior reporter at Forbes focused on markets, technology, and entrepreneurship. Jonathan has also written for Investopedia and the Los Angeles Business Journal. He holds a dual B.A. in Business Journalism and Economics from the University of North Carolina at Chapel Hill and an M.B.A. from Columbia Business School. A North Carolina native now based in New York City, Jonathan has also lived in Mexico City and Los Angeles.
RPM International's Blowout Quarter Sparks a 15% Rally RPM International NYSE: RPM reported record fiscal fourth-quarter results, with management saying each of its three segments increased sales and adjusted EBIT despite inflation, supply chain disruption and continued softness in do-it-yourself consumer markets.
Chairman and Chief Executive Officer Frank Sullivan said the company’s Construction Products Group and Performance Coatings Group continued to lead growth by focusing on maintenance and restoration, higher-growth end markets and “system selling,” an approach that combines multiple RPM products into broader engineered solutions. Sullivan said the quarter marked the 16th time in the past 18 quarters that RPM achieved record adjusted EBIT results.
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RPM International Thrives in Rate-Cut Driven Construction Rally“Our associates demonstrated their ability to adapt to increased global uncertainty, procure raw materials, continue implementing operational efficiency improvements, and serve customers with high-quality products and services,” Sullivan said.
Construction and coatings businesses lead growth Michael Laroche, vice president, controller and chief accounting officer, said consolidated sales rose 7.2% to a record, driven by engineered solutions for high-performance buildings and infrastructure projects, acquisitions and pricing actions intended to offset inflation. Adjusted EBIT and adjusted EPS also reached records, according to Laroche.
RPM International Pulls Back Critical Levels; Is It Time To Buy?Laroche said all international regions posted double-digit growth, led by emerging markets, while North American sales rose 5% on strength in turnkey and system solutions for high-performance buildings. Growth in Europe was driven by mergers and acquisitions, and foreign currency translation also helped sales in most countries outside the United States.
Within the Construction Products Group, Laroche said sales reached a record on broad-based strength, led by the concrete admixtures business. Demand was strongest in roofing and wall systems for high-performance buildings, including data centers and infrastructure projects. Volume growth and operational efficiencies helped lift adjusted EBIT to a record.
The Performance Coatings Group also posted record sales, with growth led by infrastructure project solutions, food coatings and ingredients, emerging markets, and fireproofing systems for high-performance buildings. Adjusted EBIT reached a record, though results were partly offset by a $3.2 million bad debt expense tied to a customer bankruptcy.
Consumer segment improves despite weak DIY demand RPM’s Consumer Group delivered record sales and higher adjusted EBIT, with results helped by acquisitions and pricing. Laroche said DIY end markets remained soft, while MAP operational improvements, including SG&A-focused optimization actions, more than offset lower fixed-cost absorption from reduced volumes and inflation. Adjusted EBIT excluded a $9.7 million non-cash impairment charge related to the Color Group.
During the question-and-answer portion of the call, Sullivan said Consumer unit volume in the quarter was down about 2% to 3%, while Construction Products and Performance Coatings saw low- to mid-single-digit unit volume growth. He said the Consumer segment benefited from The Pink Stuff and Ready Seal acquisitions, but DIY takeaway has been weak for roughly two years.
“It does feel like after two years of a pretty steady single-digit negative declines in consumer takeaway and volume impact, that we’re hitting bottom,” Sullivan said. He added that he did not yet see evidence of a “robust rebound.”
Raw material inflation remains a focus Management said raw material inflation and supply availability remain key considerations for fiscal 2027. Sullivan said RPM’s center-led procurement team helped the company secure supply and limit exposure to spot-price volatility. He said price-cost mix was slightly favorable in the fourth quarter, with businesses implementing price increases where needed.
For the first quarter of fiscal 2027, RPM expects raw material inflation of 5% to 6%, with pricing up by a similar dollar amount. For the second quarter, inflation could reach 6% to 8%, Sullivan said. The company expects price increases, including in Consumer, to recover gross margin percentage lost in the first quarter as the year progresses.
Sullivan said supply availability improved overall, but a fire at a supplier’s plant has caused tightness in propylene oxide-derived raw materials in North America. He also noted tight MDI supplies due to supplier issues. In response to an analyst question, Sullivan said the supplier fire would have some negative cost impact and could affect first-quarter sales growth in Tremco Roofing, but he described the issue as temporary.
Cash flow, buybacks and acquisitions Matt Schlarb, vice president of investor relations and sustainability, said RPM generated $899 million of operating cash flow in fiscal 2026, the second-highest amount in company history. The company returned $349 million to shareholders through dividends and share repurchases, up more than 7% from the prior year.
Schlarb said RPM’s board authorized a $700 million increase to its share repurchase program, in addition to $115 million remaining under a prior authorization. Sullivan said during the Q&A that the company’s stronger balance sheet and improved cash generation give it more capital to deploy, including for acquisitions and potentially more opportunistic repurchases.
Capital expenditures totaled about $224 million for the year, slightly below the prior year. Schlarb cited investments including a shared European distribution center and a new operating facility in India. RPM also spent $202 million on acquisitions, including Kalzip, a metal roofing and facades company acquired by the Construction Products Group in the fourth quarter. Schlarb said RPM expects Kalzip to be margin accretive once fully integrated over the next couple of years.
Fiscal 2027 outlook calls for growth amid volatility Chief Financial Officer Russell Gordon said RPM expects first-quarter sales to rise in the mid-single-digit range, with all segments expected to grow at a similar pace. Adjusted EBITDA is also expected to increase in the mid-single-digit range.
For full-year fiscal 2027, RPM forecast sales growth of 3% to 7% and adjusted EBITDA growth of 5% to 10%. Gordon said the company expects Consumer end markets to stabilize, though he noted RPM has the least visibility in that segment. He said price-cost is expected to be somewhat negative in the first half of the year before becoming more neutral in the second half as additional pricing takes effect and inflation moderates.
RPM also expects previously announced SG&A optimization actions to generate about $75 million in benefits during fiscal 2027, partly offset by higher healthcare and benefits expenses. Sullivan said RPM has trained 620 associates through its Green Belt efficiency program, which has developed a pipeline of more than $30 million of additional savings. The company plans to provide more detail on its MAP 3.0 strategic plan at an investor day on Nov. 9.
Asked whether the fiscal 2027 outlook represented a new growth algorithm for RPM, Sullivan said the company could generate mid-single-digit revenue growth and double-digit earnings growth “in a period of stability.” However, he said the current environment remains volatile due to geopolitical developments, oil prices, trade flows, transportation costs and tariffs.
About RPM International (NYSE:RPM)RPM International Inc is a global holding company whose subsidiaries specialize in the manufacture and marketing of high-performance coatings, sealants, building materials, and specialty chemicals. Through its two principal operating segments—Performance Coatings and Industrial Coatings—RPM serves a diverse range of end markets, including construction, consumer products, industrial maintenance, and specialty applications.
The company's Performance Coatings segment offers a broad portfolio of architectural coatings, waterproofing systems, and specialty building products used by contractors, builders, and homeowners.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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RPM International (RPM - Free Report) reported $2.23 billion in revenue for the quarter ended May 2026, representing a year-over-year increase of 7.2%. EPS of $1.89 for the same period compares to $1.72 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.19 billion, representing a surprise of +2.06%. The company delivered an EPS surprise of +2.72%, with the consensus EPS estimate being $1.84.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how RPM International performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- Construction Products Group/ CPG: $904.24 million compared to the $891 million average estimate based on four analysts. The reported number represents a change of +11.7% year over year.Net Sales- Consumer Segment: $764.8 million compared to the $751.41 million average estimate based on four analysts. The reported number represents a change of +10.6% year over year.Net Sales- Performance Coatings Group/ PCG: $562.8 million versus the four-analyst average estimate of $549.23 million. The reported number represents a year-over-year change of +41%.Adjusted EBIT- Consumer Segment: $123.35 million versus the four-analyst average estimate of $128.59 million.Adjusted EBIT- Performance Coatings Group/ PCG: $84.89 million versus the four-analyst average estimate of $76.55 million.Adjusted EBIT- Construction Products Group/ CPG: $175.06 million versus $173.82 million estimated by four analysts on average.Adjusted EBIT- Corporate/Other: $-44.69 million compared to the $-44.59 million average estimate based on four analysts.View all Key Company Metrics for RPM International here>>>
Shares of RPM International have returned -4.3% over the past month versus the Zacks S&P 500 composite's +0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
RPM International (RPM - Free Report) came out with quarterly earnings of $1.89 per share, beating the Zacks Consensus Estimate of $1.84 per share. This compares to earnings of $1.72 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +2.72%. A quarter ago, it was expected that this specialty chemicals company would post earnings of $0.37 per share when it actually produced earnings of $0.57, delivering a surprise of +54.05%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
RPM International, which belongs to the Zacks Chemical - Specialty industry, posted revenues of $2.23 billion for the quarter ended May 2026, surpassing the Zacks Consensus Estimate by 2.06%. This compares to year-ago revenues of $2.08 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
RPM International shares have lost about 2.4% since the beginning of the year versus the S&P 500's gain of 9.7%.
What's Next for RPM International?While RPM International has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for RPM International was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.92 on $2.23 billion in revenues for the coming quarter and $5.94 on $8.23 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Chemical - Specialty is currently in the top 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
CSW Industrials (CSW - Free Report) , another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on July 30.
This industrial products and coatings maker is expected to post quarterly earnings of $3.66 per share in its upcoming report, which represents a year-over-year change of +28.4%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
CSW Industrials' revenues are expected to be $340.56 million, up 29.2% from the year-ago quarter.
Analysts on Wall Street project that RPM International (RPM - Free Report) will announce quarterly earnings of $1.84 per share in its forthcoming report, representing an increase of 7% year over year. Revenues are projected to reach $2.19 billion, increasing 5% from the same quarter last year.
The consensus EPS estimate for the quarter has undergone a downward revision of 1.3% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
With that in mind, let's delve into the average projections of some RPM International metrics that are commonly tracked and projected by analysts on Wall Street.
The consensus among analysts is that 'Net Sales- Construction Products Group/ CPG' will reach $891.00 million. The estimate suggests a change of +10% year over year.
The consensus estimate for 'Net Sales- Consumer Segment' stands at $751.41 million. The estimate indicates a change of +8.7% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Net Sales- Performance Coatings Group/ PCG' of $549.23 million. The estimate indicates a year-over-year change of +37.6%.
According to the collective judgment of analysts, 'Adjusted EBIT- Consumer Segment' should come in at $128.59 million. Compared to the present estimate, the company reported $122.47 million in the same quarter last year.
Analysts predict that the 'Adjusted EBIT- Performance Coatings Group/ PCG' will reach $76.55 million. Compared to the current estimate, the company reported $57.77 million in the same quarter of the previous year.
It is projected by analysts that the 'Adjusted EBIT- Construction Products Group/ CPG' will reach $173.82 million. The estimate compares to the year-ago value of $158.11 million.
View all Key Company Metrics for RPM International here>>>
Shares of RPM International have demonstrated returns of -5.5% over the past month compared to the Zacks S&P 500 composite's -0.6% change. With a Zacks Rank #3 (Hold), RPM is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
MEDINA, Ohio--(BUSINESS WIRE)--RPM NAMES ANDREW G. POLANCO AS VICE PRESIDENT – OPERATIONS AND ANTHONY R. NICHOLSON AS VICE PRESIDENT – FINANCIAL PLANNING & ANALYSIS.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
MEDINA, Ohio--(BUSINESS WIRE)--RPM International Inc. (NYSE: RPM) today announced that its board of directors declared a regular quarterly cash dividend of $0.54 per share, payable on July 31, 2026, to stockholders of record as of July 14, 2026.
RPM’s last cash dividend increase of 6% in October 2025 marked RPM’s 52nd consecutive year of increased cash dividends paid to its stockholders, which places RPM in an elite category of less than half of 1 percent of all publicly traded U.S. companies. Only 39 other U.S. companies have consecutively paid an increasing annual dividend for a longer period of time, according to stockanalysis.com. During this timeframe, the company has returned approximately $3.9 billion in cash dividends to its stockholders.
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, 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 17,800 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 [email protected].
RPM International Inc. (NYSE: RPM) announced today that it will release its financial results for the fiscal 2026 fourth quarter and fiscal year before the stock market opens on Wednesday, July 22, 2026. The results will be issued via newswire and will also be available on the RPM website at www.RPMinc.com.
Management will host a conference call to discuss the results beginning at 10:00 a.m. Eastern Time the same day. The call can be accessed via webcast at www.RPMinc.com/Investors/Presentations-Webcasts/or by dialing 844-481-2915, or 412-317-0708 for international callers. Participants are asked to call the assigned number approximately 10 minutes before the conference call begins and request to join the RPM International call. 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 July 22, 2026, until July 29, 2026. The replay can be accessed by dialing 855-669-9658, or 412-317-0088 for international callers. The access code is 8887341. The call also will be available both live and 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, 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 17,800 individuals worldwide. Visit www.RPMinc.com to learn more.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260630456363/en/
GRAND FALLS-WINDSOR, Newfoundland and Labrador, June 15, 2026 (GLOBE NEWSWIRE) -- First Atlantic Nickel & Cobalt Corp. (TSXV: FAN | OTCQB: FANCF | FSE: P21) (the “Company” or “First Atlantic”) is pleased to announce the visual results of the first drill hole at the Alloy Max Zone, the Company’s second large-scale awaruite (Ni₃Fe) nickel-cobalt alloy discovery. The Alloy Max Zone is located approximately 7 km north of the discovery at the RPM Zone within the 30 km Pipestone Ophiolite Complex at the Company’s Pipestone XL Nickel-Cobalt Alloy Project in central Newfoundland.
The first hole at Alloy Max North, XL-26-15, intersected visibly disseminated awaruite over its entire 414-meter length and ended in mineralization, with visual abundance and grain size increasing down hole toward the east. The visual identification of disseminated awaruite indicates the potential for a second large area of mineralization within the Pipestone XL project in addition to the RPM Zone.
Drilling is ongoing at Alloy Max North and South, with additional drill holes underway from additional drill pads. At each location, Company’s geologists identified visible awaruite in exposed bedrock prior to drilling, providing further support for the surface expression of awaruite mineralization across the zone.
KEY HIGHLIGHTS
First Drill Hole Confirms a Second Large-Scale Discovery: XL-26-15, the first hole drilled at Alloy Max North, establishes a new mineralized area approximately 5.2 km north of the RPM Zone discovery hole AN-24-02. The visual identification of disseminated awaruite indicates the potential for a second large area of mineralization within the Pipestone XL project in addition to the RPM Zone.Visible Awaruite Over the Entire 414-Meter Drill Hole: Drilled at a 60-degree dip to the east, XL-26-15 intersected visibly disseminated awaruite throughout its 414-meter length and ended in open mineralization, with visual abundance and grain size increasing down hole.Only 200 m of Lateral Width of 1.5 km Drill-Tested: XL-26-15 tested approximately 200 meters of width within a zone mapped roughly 1.5 km wide, leaving approximately 1.3 km of untested width to the east, where mineralization visually improves down hole.4 km Strike Length, Significantly Larger Than the RPM Zone: Alloy Max spans approximately 4 km of strike and is significantly larger than the RPM Zone in both strike length and width (area), defined by geological mapping, geophysics and surface Davis Tube Recovery (“DTR”) sampling.Significantly Larger Target Footprint Than the RPM Zone: As outlined in the Company’s March 18 and April 8, 2026 news releases, Alloy Max represents a significantly larger target than the RPM Zone. The Company now believes the Alloy Max Zone could measure up to 1.5 km in width and 4 km in strike length. At the RPM Zone, drill-core DTR grades returned significantly higher magnetically recoverable nickel than average surface samples collected from the same area.Drilling to Test Open Mineralization to the East: Further drilling at Alloy Max North will step east into the larger mineralized area, where mineralization improved with depth in XL-26-15.Visible Awaruite Identified in Surface Bedrock Before Drilling: Minimal overburden allowed Company geologists to expose and directly sample bedrock at Alloy Max North and South, where visible awaruite was identified at additional drill pad locations before drilling. For investor inquiries or questions, please call Rob Guzman, Investor Relations, at +1-844-592-6337 or email [email protected].
The Company's new white paper, Onshoring the Nickel-Cobalt Supply Chain. Without a Smelter, released on June 9, 2026, is available now at www.fanickel.com.
DISCOVERY HOLE XL-26-15: 414 METERS OF VISIBLE AWARUITE AT ALLOY MAX NORTH
XL-26-15 is the first drill hole completed at Alloy Max North and the discovery hole for the Alloy Max Zone, a new large-scale awaruite zone located approximately 5.2 km north of the Company’s RPM Zone discovery hole, AN-24-02. Drilled at a 60-degree dip to the east, XL-26-15 intersected visibly disseminated awaruite over its entire 414-meter length and ended in open mineralization. Visual abundance and grain size increased down hole toward the east, indicating that the system strengthens in that direction and remains open for expansion.
The hole tested only a narrow slice of the zone, covering approximately 200 meters of width against a mapped width of roughly 1.5 km and leaving the large majority of the approximately 4 km strike length undrilled. Drilling is now continuing in the Alloy Max Zone across additional drill pads, where minimal overburden has allowed Company geologists to expose and sample bedrock directly and identify visible awaruite prior to drilling, consistent with the surface sampling results reported on March 18, 2026.
Much of this ground had seen little historical exploration, with prior operators not testing specifically for awaruite or conducting DTR analysis. Improved road access and drier ground conditions have allowed the Company to access the Alloy Max area where drilling is ongoing.
Alloy Max North has the potential to be represent a new, larger area of disseminated awaruite mineralization in addition to the RPM Zone, in line with the Company’s mission to develop a multi-deposit nickel-cobalt alloy mining district with centralized onshore processing feeding directly into downstream industries, bypassing midstream smelting constraints in North America.
THE ALLOY MAX ZONE: A SECOND LARGE-SCALE AWARUITE DISCOVERY
The Alloy Max Zone was first announced on March 18, 2026, following district-wide surface sampling that integrates field geological mapping, surface rock sampling with DTR analysis, and geophysics. This work outlined a major new area of magnetically recoverable awaruite mineralization up to approximately 7 km north of the RPM Zone. The initial target area measures approximately 4 km in length and 1.5 km in width, with geophysical processing indicating the potential for a mineralized area larger than the RPM Zone.
Surface DTR sampling at Alloy Max has returned magnetically recoverable nickel grades comparable to surface values at the RPM Zone, where drill core has consistently returned significantly higher DTR grades than weathered surface samples. This established relationship between surface and drill-core grades forms the basis for the Company’s expectation of higher grades at depth, and was a factor in Alloy Max being selected as a priority drill target for 2026.
The Pipestone Ophiolite Complex is a major belt of ultramafic rocks emplaced along a continental-scale fault system. The Company believes Alloy Max is related to this major tectonic event, which would have supplied the large volumes of heat and fluid required to form awaruite. Awaruite forms during serpentinization, when ultramafic rock reacts with water, interpreted here to have been sourced from ocean water, generating the large volumes of molecular hydrogen (H₂) needed to reduce nickel to its native metallic alloy state. A regional, crustal-scale fault structure cuts the 30 km Pipestone XL Ophiolite Complex, providing the pathway for fluids to interact with the host rock, generate hydrogen, and reduce nickel to metal across the trend.
AWARUITE CONFIRMED AT THE RPM ZONE: 77.62% NICKEL, 1.69% COBALT
On May 21, 2026, the Company confirmed awaruite at the RPM Zone through electron microprobe analysis by SGS Canada Inc., which averaged 77.62% nickel and 1.69% cobalt.
These results confirm the high-grade, naturally magnetic nickel-iron-cobalt (Ni-Fe-Co) alloy at Pipestone XL, a metallic mineralogy that can be concentrated through magnetic separation and flotation and processed onshore directly into downstream nickel and cobalt products, bypassing conventional smelting, roasting and high-pressure acid leaching.
GEOLOGIC HYDROGEN AND THE VEMA HYDROGEN JOINT VENTURE
The same serpentinization process associated with awaruite formation at Pipestone XL also generates hydrogen, and the Company is advancing a parallel geologic hydrogen initiative alongside its nickel-cobalt program. As announced on June 9, 2026, First Atlantic and Vema Hydrogen signed a letter of intent to jointly develop low-carbon Engineered Mineral Hydrogen (EMH) at Pipestone XL through a proposed 50/50 joint venture. The presence of awaruite, which forms only when hydrogen reduces nickel and iron during serpentinization, is a direct geological signature of a hydrogen-generating system.
Samples from the Alloy Max Zone, including drill core from XL-26-15 and subsequent holes, will be used in the Company’s Engineered Mineral Hydrogen (EMH) evaluation work at Pipestone XL.
Figure 1. Visible Awaruite Grains up to 382 microns in drill hole XL-26-15 at 340 Meters, Alloy Max North.
Figure 2. Visible Awaruite Grains up to 160 microns in drill hole XL-26-15 at 256 Meters, Alloy Max North.
Figure 3. Visible Awaruite Grains up to 298 microns in drill hole XL-26-15 at 106 Meters, Alloy Max North.
Figure 4. Map of the Alloy Max and RPM Zone areas showing DTR nickel (%) in surface rock samples, including 2026 Alloy Max drill pad locations and the RPM 2025 drill holes.
AWARUITE: A SMELTER-FREE NICKEL-COBALT ALLOY (Ni₃Fe)
Figure 5: USGS quote on awaruite nickel-iron-cobalt alloy.
Awaruite is a naturally occurring, sulfur-free nickel-iron-cobalt alloy with nickel content of approximately 77%. Because it already exists in a metallic state, awaruite can be processed into a high-grade concentrate of approximately 60% nickel through magnetic separation and flotation, without smelting, roasting, or high-pressure acid leaching. This concentrate can be sent directly for downstream battery chemical refining or for the manufacture of specialty alloys and stainless steel.
As stated in the August 2025 report From Rocks to Power: Strategies to Unlock Canada’s Critical Minerals for Global Leadership in Energy Storage, EVs, & Beyond from the Battery Metals Association of Canada:
“Awaruite is not a sulfide nor an oxide nickel ore but a high-content native nickel-iron ore. Simple beneficiation processes after mining could provide 60% Ni concentrate, ready for leaching for battery cathode purposes and would yield MHP as a by-product. This process would bypass pyrometallurgy or early hydrometallurgy stages and be among the lowest carbon-intensive nickel production sites in the global nickel market.”1
The U.S. Geological Survey highlighted awaruite’s potential in its Mineral Commodity Summaries 2012, stating:
“The development of awaruite deposits in other parts of Canada may help alleviate any prolonged shortage of nickel concentrate. Awaruite, a natural iron-nickel alloy, is much easier to concentrate than pentlandite, the principal sulfide of nickel.”2
The absence of sulfur reduces the risk of acid mine drainage and certain permitting challenges commonly associated with sulfide mineralization, positioning awaruite to supply North American industries including stainless steel, electric vehicles, aerospace, and defence.
INVESTOR INFORMATION
The Company’s common shares trade on the TSX Venture Exchange under the symbol “FAN”, the American OTCQB Exchange under the symbol “FANCF” and on several German exchanges, including Frankfurt and Tradegate, under the symbol “P21”.
Investors can get updates about First Atlantic by signing up to receive news via email and SMS text at www.fanickel.com.
Adrian Smith, P.Geo., a director and the Chief Executive Officer of the Company is a qualified person as defined by NI 43-101. The qualified person is a member in good standing of the Professional Engineers and Geoscientists Newfoundland and Labrador (PEGNL) and is a registered professional geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed herein.
About First Atlantic Nickel & Cobalt Corp.
First Atlantic Nickel & Cobalt Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) is a critical mineral exploration company in Newfoundland & Labrador developing the Pipestone XL Nickel-Cobalt Alloy Project. The project spans the entire 30-kilometer Pipestone Ophiolite Complex, where multiple zones, including RPM, Alloy Max, Super Gulp, Atlantic Lake, and Chrome Pond, contain awaruite (Ni₃Fe), a naturally occurring magnetic nickel-iron-cobalt alloy of approximately ~77% nickel with no sulfur and no sulfides, along with secondary chromium mineralization. Awaruite’s sulfur-free composition removes acid mine drainage (AMD) risks, while its unique magnetic properties enable processing through magnetic separation, eliminating the electricity requirements, emissions, and environmental impacts of conventional smelting, roasting, or high-pressure acid leaching while reducing dependence on overseas nickel processing infrastructure.
The U.S. Geological Survey recognized awaruite’s strategic importance in its 2012 Annual Report on Nickel, noting that these deposits may help alleviate prolonged nickel concentrate shortages since the natural alloy is much easier to concentrate than typical nickel sulfides. The Pipestone XL Nickel-Cobalt Alloy Project is located near existing infrastructure with year-round road access and proximity to hydroelectric power. These features provide favorable logistics for exploration and future development, strengthening First Atlantic’s role to establish a secure and reliable source of North American nickel production for the stainless steel, electric vehicle, aerospace, and defense industries. This mission gained importance when the U.S. added nickel to its critical minerals list in 2022, recognizing it as a non-fuel mineral essential to economic and national security with a supply chain vulnerable to disruption.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are frequently identified by words such as "expects", "intends", "plans", "anticipates", "believes", "may", "will", "would", "could", "potential", "proposed", "target", "prospective", "indicates", "designed to", "expected to" and similar expressions, or statements that events, conditions or results "will", "may", "could", "would" or "should" occur or be achieved.
Forward-looking information in this news release includes, but is not limited to, statements regarding the Company’s exploration plans, results, expectations and objectives at the Pipestone XL Nickel-Cobalt Alloy Project; the interpretation of visual mineralization, awaruite abundance and grain size observed in drill core; the potential scale, continuity, geometry, width, strike length and expansion potential of the Alloy Max Zone; the potential for Alloy Max to represent a second large-scale mineralized zone or discovery in addition to the RPM Zone; the potential for the Pipestone XL Project to host multiple deposits or support a future nickel-cobalt mining district; the future of onshore processing; the expectation that mineralization may continue or improve to the east or at depth; the Company’s plans for additional drilling at Alloy Max North, Alloy Max South, RPM and elsewhere within the Pipestone Ophiolite Complex; the expectation that drill-core DTR grades may be higher than surface sample grades; the geological interpretation of the Pipestone Ophiolite Complex, including the role of serpentinization, regional structures, fluids, hydrogen generation and awaruite formation; the Company’s plans to evaluate geologic hydrogen potential; the proposed joint venture with Vema Hydrogen and the potential development of low-carbon EMH; and the potential use of samples from Alloy Max, RPM and other areas for future hydrogen evaluation work.
Forward-looking information is based on a number of assumptions that management considers reasonable as of the date of this news release, including assumptions regarding the accuracy of visual observations, geological mapping, geophysical interpretations, DTR sampling and other exploration data; the continuity and geometry of mineralization; the relationship between surface sampling and drill-core results; the Company’s ability to complete planned drilling, sampling, assaying, metallurgical, hydrogen and other technical work; the availability of financing, equipment, personnel, contractors, permits and road access; the continued validity of the Company’s geological model; the ability of the Company and Vema Hydrogen to negotiate, finalize and implement definitive joint venture arrangements; and general business, market, commodity price and regulatory conditions.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, risks associated with early-stage mineral exploration; the risk that visual observations of mineralization may not correlate with assay results, DTR results, recoverability, grade, tonnage or economic viability; the risk that future drilling may not confirm the expected continuity, scale, grade, width or depth extent of mineralization; the risk that surface sampling, geophysical data and geological interpretations may not accurately predict subsurface mineralization; uncertainty regarding metallurgical recoverability and processing characteristics; uncertainty regarding the potential generation, recovery, storage, commerciality or development of geologic hydrogen; risks relating to the negotiation and completion of definitive agreements with Vema Hydrogen; permitting, environmental, access, title, regulatory and community-related risks; the availability of capital and financing on acceptable terms; changes in commodity prices, market conditions and investor sentiment; operational risks; weather and seasonal access limitations; and the other risks described in the Company’s public disclosure documents.
The Company is an exploration-stage issuer and has not established mineral resources or mineral reserves at the Pipestone XL Nickel-Cobalt Alloy Project. There can be no assurance that further exploration or technical work will result in the delineation of mineral resources or mineral reserves, or that the project will be advanced to production. Readers should not place undue reliance on forward-looking information. The forward-looking information contained in this news release is made as of the date of this news release, and the Company undertakes no obligation to update or revise such information except as required by applicable law.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/76c3c075-4da1-4a06-9248-f5b7a2335cb0
https://www.globenewswire.com/NewsRoom/AttachmentNg/acfe3c10-00df-4f52-a5c2-9d266ee27a91
https://www.globenewswire.com/NewsRoom/AttachmentNg/7e3a1a28-ca0e-4e7c-9123-80df309de5da
https://www.globenewswire.com/NewsRoom/AttachmentNg/221f6c2e-2cbf-4f38-a7bd-a0aacc52522c
https://www.globenewswire.com/NewsRoom/AttachmentNg/7509daf3-3322-499d-9142-2b4f05f9de61
Key Takeaways RPM International acquired Kalzip, adding aluminum roofing and faade systems to its Tremco unit.Kalzip adds aluminum roofing and faade systems, enhancing design-driven solutions in complex projects.RPM aims for margin gains by shifting toward engineered systems amid recent EBIT margin pressure. RPM International Inc. (RPM - Free Report) has completed its acquisition of Kalzip GmbH, integrating it into its Tremco Construction Products Group to strengthen its building envelope capabilities. By bringing Kalzip’s standing-seam aluminum technology under its wing, RPM is not only expanding its product portfolio but also enhancing its architectural and specification-driven capabilities within complex commercial projects. Following the news, shares of RPM gained 1.2% during the trading session yesterday.
Kalzip, a global leader in aluminum roofing and façade systems, contributes high-performance, design-oriented exterior solutions that complement Tremco CPG’s existing waterproofing and structural offerings. With a dominant footprint across Europe and an impressive track record of landmark infrastructure — including the Estadio Santiago Bernabéu and LAX Train Station — the acquisition directly supports RPM’s strategic push toward international expansion and participation in more resilient construction sectors.
This strategic move comes at a pivotal time for RPM’s Construction Products Group, which recently delivered record sales of $737.4 million, driven by demand for high-performance roofing systems. However, EBIT margins declined 200 basis points to 13.4% due to temporary inefficiencies from plant consolidations and project delays. The integration of Kalzip is expected to support long-term margin improvement by shifting the portfolio toward higher-value, engineered systems that are less exposed to volatility in traditional construction and restoration markets.
Overall, the Kalzip deal appears less of an immediate step change and more of a strategic building block — enhancing RPM’s portfolio depth, expanding its international reach and reinforcing its shift toward higher-margin, system-based construction solutions.
RPM’s Competitive LandscapeRPM’s performance reflects broader trends in the specialty coatings and construction products market, where peers such as PPG Industries, Inc. (PPG - Free Report) and Sherwin-Williams Company (SHW - Free Report) are also benefiting from resilient demand in infrastructure, maintenance and high-performance building solutions.
PPG remains a key competitor with a strong global footprint across architectural and industrial coatings. The company continues to benefit from demand tied to infrastructure investment, and aerospace and automotive refinishing while actively optimizing its portfolio toward higher-margin, technology-driven coatings. Similar to RPM, PPG is leveraging pricing actions and cost controls to protect margins, though its exposure is more heavily weighted toward global industrial end markets.
In comparison, Sherwin-Williams maintains a dominant position in architectural coatings, supported by its extensive distribution network and strong brand equity. While the company has greater exposure to residential and commercial repaint markets, it is also expanding in protective and marine coatings, aligning more closely with RPM’s construction-focused segments. SHW’s scale and vertical integration provide a competitive edge, though RPM differentiates itself through a more diversified portfolio spanning specialty coatings, sealants and building envelope systems across both consumer and industrial channels.
RPM Stock’s Price Performance & Valuation TrendShares of this global manufacturer and marketer of high-performance coatings, sealants and specialty chemicals have declined 10.6% in the past year, underperforming the Zacks Chemical - Specialty industry, the broader Basic Materials sector and the S&P 500 index.
Image Source: Zacks Investment Research
RPM stock is currently trading at a discount compared with the industry, with a forward 12-month price-to-earnings (P/E) ratio of 17, as evidenced by the chart below.
Image Source: Zacks Investment Research
Earnings Estimate Revision of RPMRPM’s earnings estimates for fiscal 2026 have trended lower over the past 30 days, while estimates for fiscal 2027 have remained unchanged. The revised bottom-line outlook for fiscal 2026 implies a year-over-year decline of 0.8%, whereas fiscal 2027 estimates point to a projected growth of 14.9%.
Image Source: Zacks Investment Research
RPM currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
1. Neurocrine Lines Up Soleno Acquisition Neurocrine Biosciences (NBIX 1.15%) – recommended in Stock Advisor by Team Rule Breakers – is close to acquiring Soleno Therapeutics (SLNO +0.00%), says the Financial Times. The deal, reportedly for over $2.5 billion, could value Soleno above $50 per share. The stock jumped more than 30% overnight after the price had been climbing since the end of March. Neurocrine dipped around 1%.
Genetic obesity: Soleno makes the first commercial treatment for extreme hunger – a condition known as hyperphagia – caused by Prader-Willi syndrome, a genetic disorder affecting sufferers from childhood. Breakthrough fourth quarter: Soleno reported a Q4 profit in February, after its new Prader-Willi treatment became its first approved medicine and reached rapid profitability. 2. Markets Rebound Last Week Markets reversed their recent downtrend in a trading week shortened by the Good Friday close, as the S&P 500 gained 3.4% with the Nasdaq rising 4.4%. Confidence was boosted by Friday's jobs report showing 178,000 jobs added in March – ahead of estimates for 60,000 and reversing February's loss of 92,000. S&P 500 futures pushed above 0.4% pre-market, as Nasdaq futures gained over 0.7%.
Key inflation prints: The March consumer price index due Friday is expected to show inflation creeping up following the Iran war, predicted at 3.3% year over year – ahead of the previous month's 2.4%. It follows Thursday's Personal Consumption Expenditures (PCE) update for February, expected to be largely flat. What's next for the Fed?: Core PCE is the Federal Reserve's preferred index, as it excludes short-term food and fuel changes. With hopes of an April rate cut vanishing, the CME FedWatch tool shows a 99.5% chance of no change, with the other 0.5% predicting a rise. 3. Coinbase Pursues National Trust Company Charter Cryptocurrency platform Coinbase (COIN +0.59%) says it has conditional approval to establish a national trust bank. Should further examination steps progress to full approval, the Coinbase National Trust Company could handle federally regulated crypto custody and services.
"Seeking the benefits of a U.S. bank charter without satisfying the full scope of U.S. bank regulations": The Independent Community Bankers of America called the decision a "grave mistake." Coinbase Co-CEO Greg Tusar, meanwhile, assured us "Coinbase is not becoming a commercial bank. We will not be taking retail deposits. We will not be engaging in fractional reserve banking." Bitcoin-Backed Mortgages: Fool analyst Alicia Alfiere recently explained how Coinbase is joining up with Better Mortgage (BETR +8.46%) to offer a mortgage using Bitcoin (BTC +0.56%) as collateral for an additional loan instead of a deposit. "This feels similar to the old practice of using one loan to cover 80% of the house and another to cover 20%," Alicia said. 4. Key Foolish Earnings to Watch RPM (RPM +0.57%) is set to report Q3 on Wednesday, after the Dividend Investor rec posted a 14% fall in earnings per share (EPS) in its previous quarter. Management predicted sales and adjusted EBIT gains in the current quarter, following cost-saving measures. There's a 2.2% full-year dividend forecast. Constellation Brands (STZ +3.98%) should give us a feel for how inflation is hitting consumers the same day, with Q4 and full-year results due. The beer, wine, and spirits retailer beat revenue estimates in the previous quarter. Delta (DAL +1.36%) also reports on Wednesday and should provide insight into escalating airline costs following the attacks on Iran. Fool analyst Bill Barker has pointed out, "Despite the fuel costs, Delta is not running the Mid East as a hub," so it might not suffer as badly as some. 5. Your Take Aritzia (ATZAF +1.52%), Cloudflare (NET +0.30%), and Comfort Systems (FIX +2.92%):
If your portfolio comprised just these three companies and you bought each of them at the start of the year with the same amount of money and had to buy more shares in one, completely close your position in another, and hold the final stock, what are you choosing to do and why?
Debate with friends and family, or become a member to hear what your fellow Fools are saying!
This image and article was created using Large Language Models (LLMs) based on The Motley Fool's insights and investing approach. It has been reviewed by our AI quality control systems. Since LLMs cannot (currently) own stocks, it has no positions in any of the stocks mentioned. The Motley Fool has positions in and recommends Aritzia, Bitcoin, Cloudflare, and Comfort Systems USA. The Motley Fool recommends Coinbase Global, Constellation Brands, Delta Air Lines, Neurocrine Biosciences, and RPM International. The Motley Fool has a disclosure policy.
RPM International Inc. (NYSE:RPM) will release earnings for its third quarter before the opening bell on Wednesday, April 8.
Some of the company’s investors may be eyeing potential gains from the company's dividends. Currently, RPM has an annual dividend yield of 2.2%. That’s a quarterly dividend amount of 54 cents per share ($2.16 a year).
To figure out how to earn $500 monthly from RPM, start with the yearly target of $6,000 ($500 x 12 months).
Next, divide that amount by RPM's $2.16 dividend: $6,000 / $2.16 = 2,778 shares.
So, an investor would need to own approximately $272,161 worth of RPM, or 2,778 shares to generate a monthly dividend income of $500.
Assuming a more conservative goal of $100 monthly ($1,200 annually), we do the same calculation: $1,200 / $2.16 = 556 shares, or $54,471 to generate a monthly dividend income of $100.
Note that dividend yield can change on a rolling basis, as the dividend payment and the stock price both fluctuate over time.
The dividend yield is calculated by dividing the annual dividend payment by the current stock price. As the stock price changes, the dividend yield will also change.
For example, if a stock pays an annual dividend of $2 and its current price is $50, its dividend yield would be 4%. However, if the stock price increases to $60, the dividend yield would decrease to 3.33% ($2/$60).
Conversely, if the stock price decreases to $40, the dividend yield would increase to 5% ($2/$40).
Further, the dividend payment itself can also change over time, which can also impact the dividend yield. If a company increases its dividend payment, the dividend yield will increase even if the stock price remains the same. Similarly, if a company decreases its dividend payment, the dividend yield will decrease.
RPM Price Action: Shares of RPM International fell by 2.6% to close at $97.97 on Thursday.
Analysts expect the company to report earnings of 35 cents per share on Wednesday. That's the same as the 35 cents per share in the year-ago period. The consensus estimate for RPM's quarterly revenue is $1.55 billion (it reported $1.48 billion last year), according to Benzinga Pro.
Ahead of quarterly earnings, UBS analyst Joshua Spector, on Thursday, maintained a Neutral rating on RPM International and lowered the price target from $119 to $108.
With the recent buzz around RPM,
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Key Takeaways RPM's adjusted EPS estimate for Q3 edged lower recently, while net sales are still expected to rise YoY.RPM expects Q3 sales growth across CPG, PCG and Consumer, supported by demand trends and recent acquisitions.RPM expects MAP initiatives to support margins, contributing to year-over-year growth in adjusted EBIT. RPM International Inc. (RPM - Free Report) is slated to report its third-quarter fiscal 2026 results on April 8, before the opening bell.
In the last reported quarter, RPM’s adjusted earnings per share (EPS) missed the Zacks Consensus Estimate by 14.9% and declined 13.7% year over year. Meanwhile, net sales also missed the consensus estimate by 1%, but increased 3.5% year over year.
The company’s earnings topped analysts’ expectations in two of the trailing four quarters and missed on the remaining two occasions, with the negative average surprise being 9.9%.
How Are Estimates Placed for RPM Stock?The Zacks Consensus Estimate for the fiscal third quarter’s adjusted EPS has declined in the past 30 days to 37 cents per share from 39 cents. The revised estimated figure indicates 5.7% growth from the year-ago figure of 35 cents per share.
The consensus mark for net sales is pegged at $1.55 billion, indicating 5.3% year-over-year growth.
Factors Likely to Shape RPM’s Q3 ResultsNet SalesRPM International's fiscal third-quarter net sales are likely to have increased year over year, driven by solid demand for engineered solutions used in high-performance buildings and continued contributions from maintenance and repair activities. Growth is also expected to have been supported by targeted investments and a stable backlog, particularly within construction-related businesses. Acquisitions and system-based offerings are likely to have further supported revenue growth during the quarter.
Management expects consolidated net sales to increase at a mid-single-digit rate year over year in the fiscal third quarter. By segment, the Consumer segment is anticipated to post moderately higher sales growth than the Construction Products Group (CPG) and Performance Coatings Group (PCG) segments, driven by recent acquisitions.
Our model predicts CPG sales (which contributed 38.6% to the second quarter of fiscal 2026 net sales) to grow 3.6% year over year to $517.5 million. We expect net sales in the Consumer Group (33.4%) and PCG (27.9%) segments to increase year over year by 6.8% and 4.4%, respectively.
As part of its ongoing strategic actions, the company continues to realign its business structure and invest in growth areas such as high-performance building systems and innovation. These efforts are expected to have supported collaboration across segments and drive long-term revenue growth.
However, some challenges are likely to have persisted during the quarter. Soft DIY demand, longer construction project lead times and volatility in demand trends remain concerns. Uncertainty around the timing of project conversions and continued macro pressure might have impacted overall momentum.
Margins & EarningsIn the fiscal third quarter, RPM’s bottom line is expected to have benefited from SG&A optimization actions and ongoing cost discipline initiatives. Early benefits from structural realignment actions are likely to have supported profitability, along with improved volume trends and better fixed cost absorption compared with the prior quarter.
The company also continues to benefit from MAP initiatives and focused growth investments, which are expected to have aided operating performance over time. Additionally, improving raw material trends, excluding tariff-related impacts, is likely to have provided some support.
The company expects adjusted EBIT to be up year over year in the mid to high-single-digit percentage range. Our model predicts the metric to be up 7.6% year over year to $84.2 million.
What Our Model Indicates for RPMOur proven model does not conclusively predict an earnings beat for RPM International this time around. A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. This is not the case here, as you will see below.
Earnings ESP: The company’s earnings ESP is 0.00%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: RPM currently carries a Zacks Rank of 4 (Sell).
Stocks With the Favorable CombinationsAccording to our model, the following companies in the broader Basic Materials sector possess the right combination of elements to post an earnings beat in the upcoming quarter.
Equinox Gold (EQX - Free Report) has an Earnings ESP of +12.50% and a Zacks Rank of 1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Equinox Gold reported better-than-expected earnings in two of the trailing four quarters and missed on the remaining two occasions, the average surprise being 89.2%. Earnings for Equinox Gold’s to-be-reported quarter are expected to grow 412.5% year over year.
Albemarle Corporation (ALB - Free Report) currently has an Earnings ESP of +97.57% and a Zacks Rank of 3.
The company reported better-than-expected earnings in three of the trailing four quarters and missed on the remaining occasion, the average surprise being 57.8%. Earnings for Albemarle’s to-be-reported quarter are expected to grow 533.3% year over year.
CF Industries (CF - Free Report) currently has an Earnings ESP of +23.26% and a Zacks Rank of 3.
The company reported better-than-expected earnings in each of the trailing four quarters, the average surprise being 13.2%. Earnings for CF Industries’ to-be-reported quarter are expected to grow 16.2% year over year.
GRAND FALLS-WINDSOR, Newfoundland and Labrador, April 08, 2026 (GLOBE NEWSWIRE) -- First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) ("First Atlantic" or the "Company") is pleased to announce that drilling has commenced at the Alloy Max Zone, a new large-scale awaruite (Ni₃Fe) nickel-cobalt alloy discovery located 7 kilometers (km) north of the RPM Zone. The Alloy Max Zone represents the Company's second major target area within the 30 km Pipestone Ophiolite Complex at its Pipestone XL Nickel-Cobalt Alloy Project in central Newfoundland. The Alloy Max discovery was first announced on March 18, 2026, following the Company's ongoing district-wide surface sampling program, which identified a new large area of magnetically recoverable nickel-cobalt alloy mineralization. The initial target area measures approximately 4 km in length and 1.2 km in width.
The initial drill program at Alloy Max is designed to test for awaruite mineralization over a large area through four drill holes distributed across 2.4 km of strike length and approximately 950 m in width within the initial 4 km x 1.2 km defined target area. Due to minimal overburden, geologists were able to directly sample bedrock at the drill pad locations and identified visibly disseminated awaruite mineralization in surface bedrock prior to drilling.
The Company has completed a drill access trail to the Alloy Max Zone from the existing camp and will now begin construction of a drill access road extending north from Alloy Max through Super Gulp toward Atlantic Lake, following the geologic 30 km nickel trend of the Pipestone Ophiolite Complex. As road construction proceeds northward, the Company plans to conduct direct bedrock sampling through shallow pits and trenches along the road corridor to evaluate newly identified and historical areas with elevated DTR nickel values that were previously inaccessible by ground.
HIGHLIGHTS:
1. Drilling Commenced at Alloy Max Zone: Drilling has commenced at the Alloy Max Zone, with four initial drill pad locations spanning 2.4 km in strike length and testing nickel-cobalt alloy mineralization across an area approximately 950 m in width. The Alloy Max Zone is located 7 km north of the RPM Zone within the 30 km Pipestone Ophiolite Complex.
2. Visible Awaruite Discovered in Bedrock Prior to Drilling: Prior to drilling, geologists sampled bedrock through shallow pits in areas of minimal overburden at the Alloy Max Zone and identified visibly disseminated awaruite in bedrock at drill pad locations across the 2.4 km strike length and 950 m width covered by the initial drill holes.
3. Second Large-Scale Nickel-Cobalt Alloy Target Area: Alloy Max, first announced on March 18, 2026, has an initial defined target area of approximately 4 km x 1.2 km. Geological mapping and geophysics indicate Alloy Max may host a larger mineralized area than the RPM Zone. DTR surface sampling has returned magnetically recoverable nickel-cobalt alloy grades comparable to surface values at the RPM Zone, where drill core consistently returned higher DTR grades in drill core.
4. Initial Drill Holes Testing Awaruite Mineralization Across 2.4 km Strike Length: Surface bedrock samples collected from shallow pits at drill pad locations at the Alloy Max Zone confirmed visible awaruite mineralization. The 4 drill pad locations span 2.4 km in strike length and 950 m in width. The program is designed to test for magnetically recoverable awaruite mineralization to establish initial results and guide further drilling.
5. Drill Access Road North From Alloy Max Toward Atlantic Lake: The Company has completed a drill access trail to the Alloy Max Zone and will now begin construction of a drill access road extending north from Alloy Max through Super Gulp toward Atlantic Lake, following the 30 km geologic nickel trend of the Pipestone Ophiolite Complex. Upon completion, the road will connect to Grand Falls-Windsor and the Trans-Canada Highway, providing full vehicle access across the entire complex for exploration and development activities.
6. Bedrock Sampling During Road Construction Along 30 km Trend: Along the corridor between Alloy Max and Atlantic Lake, the Company has identified areas of interest based on newly identified DTR nickel surface samples that may indicate additional awaruite nickel-cobalt alloy mineralized zones previously inaccessible by ground. The Company plans to conduct direct bedrock sampling through trenching and shallow pits during road construction, which has been designed to closely follow the 30 km nickel trend of the Pipestone Ophiolite Complex.
For further information, questions, or investor inquiries, please contact Rob Guzman at First Atlantic Nickel by phone at +1-844-592-6337 or via email at [email protected].
Drilling at the Alloy Max Zone is targeting magnetically recoverable awaruite nickel-cobalt alloy mineralization across a broad area within the initial 4 km x 1.2 km target area, as outlined through the integration of field geological mapping, surface rock sampling, DTR (magnetic separation and recovery) analysis, and geophysics. The four initial drill pad locations span 2.4 km of strike length and are positioned to test an area approximately 950 m wide prospective for nickel-cobalt alloy mineralization.
The objective of the program is to test for the presence and continuity of magnetically recoverable awaruite nickel-cobalt alloy across the Alloy Max Zone and to generate initial results to guide further drilling. At the RPM Zone, this exploration model has proven effective, with drill core samples consistently returning higher DTR nickel grades than weathered surface samples. The Company anticipates that a similar pattern may occur at Alloy Max, where surface DTR values are comparable to those recorded at the RPM Zone.
During site preparation at the drill pad locations, minimal overburden allowed geologists to directly examine and sample bedrock, where visibly disseminated awaruite was encountered at various pad sites. This observation further supports the presence of awaruite nickel-cobalt alloy mineralization at surface across the Alloy Max target area and is consistent with the surface sampling results reported on March 18, 2026.
Figure 01: Bedrock sample collected beneath shallow overburden at a drill pad location. The sample confirms the drill target prior to drilling and contains visible disseminated awaruite magnetic nickel cobalt alloy mineralization.
Figure 02: Map of the Alloy Max and RPM Zone areas showing DTR nickel (%) in surface rock samples, including Alloy Max drill pad locations and the RPM 2025 drill holes.
Figure 03: Drilling underway at the Alloy Max Zone, testing newly defined targets within the 4 km by 1.2 km wide target area 7 km north of RPM Zone discovery.
PIPESTONE XL DRILL ACCESS ROAD AND EXPLORATION PROGRAM
The Company has completed a drill access trail from the existing camp to the Alloy Max Zone and will now begin construction of a drill access road extending north from Alloy Max through Super Gulp toward Atlantic Lake, following the 30 km geologic nickel trend of the Pipestone Ophiolite Complex. Upon completion, the road will provide full vehicle access from the camp into Grand Falls-Windsor and the Trans-Canada Highway, which crosses Newfoundland, thereby connecting the entire complex with ground access for exploration and development activities.
Along this corridor between Alloy Max and Atlantic Lake, the Company has identified areas of interest based on newly identified DTR nickel surface samples that may indicate additional awaruite nickel-cobalt alloy mineralized zones. Many of these areas were previously inaccessible by ground. The Company plans to conduct direct bedrock sampling through trenching and shallow pits during road construction, which has been designed to closely follow the 30 km nickel trend of the Pipestone Ophiolite Complex. As construction advances, the Company will systematically explore prospective ground across the trend, advancing the identification of new nickel-cobalt alloy target areas while building the access required for long-term project development.
NEWFOUNDLAND JUNIOR EXPLORATION ASSISTANCE
The Company would like to express its gratitude to the Province of Newfoundland and Labrador for awarding it the maximum grant of $150,000 under the Junior Exploration Assistance (JEA) program. This funding will support critical mineral exploration at the Company's Pipestone XL Nickel-Cobalt Alloy Project, a district-scale nickel-cobalt alloy project strategically located in central Newfoundland with access to key infrastructure, including roads and clean hydro-grid power. Newfoundland and Labrador is consistently ranked among the world's leading mining jurisdictions.
Newfoundland & Labrador has ranked in the top 10 globally for mining investment attractiveness from 2022 to 2025 according to the Fraser Institute's Annual Survey of Mining Companies; The 2024 survey states1:
"Only two Canadian jurisdictions ranked in the top 10 for their investment attractiveness: Saskatchewan (7th) and Newfoundland & Labrador (8th)."
The report further notes:
"Newfoundland & Labrador stands out among all jurisdictions included in the sub-survey, with 86 percent of respondents indicating that they were able to acquire the necessary permits for exploration in two months or less."
The province combines world-class geology with supportive government policies, well-established infrastructure, and efficient permitting for mineral exploration and development.
AWARUITE (Ni₃Fe) - EARTH'S RAREST NATURALLY MAGNETIC HIGH-GRADE NICKEL-IRON-COBALT ALLOY MINERAL
Awaruite (Ni₃Fe) is a naturally occurring nickel-iron-cobalt alloy mineral containing approximately 77% nickel2 - 2 to 3 times the nickel content of typical sulfide minerals such as pentlandite (~25% Ni)3. Awaruite forms during serpentinization, a geological process in which ultramafic peridotite reacts with water, generating molecular hydrogen gas (H₂), and liberated nickel (Ni²⁺) and iron (Fe²⁺) then react with this abundant hydrogen to form the alloy. Because awaruite already exists in a reduced metallic state composed entirely of metal elements with no sulfur, it requires no smelting, roasting, or acid leaching. This offers a direct mine-to-refinery or stainless steel pathway that bypasses the bottleneck of limited North American smelting capacity.
Figure 04: Quote from USGS on Awaruite Deposits4
Awaruite's strong natural magnetic properties - up to 10 times more magnetic than magnetite - enable recovery through magnetic separator drums commonly used in large-scale open-pit bulk-tonnage iron ore mines across North America for over a century. DTR is a standard metallurgical test used in iron ore mining globally to measure the recovery of magnetic minerals, and is a specific method for measuring awaruite recovery from drill core.
As stated in the August 2025 report "From Rocks to Power" from the Battery Metals Association of Canada5:
"Awaruite is not a sulfide nor an oxide nickel ore but a high-content native nickel–iron ore. Simple beneficiation processes after mining could provide 60% Ni concentrate, ready for leaching for battery cathode purposes and would yield MHP as a by-product. This process would bypass pyrometallurgy or early hydrometallurgy stages and be among the lowest carbon-intensive nickel production sites in the global nickel market."
The Battery Metals Association of Canada has also stated in June 20256:
"A future nickel metallurgical plant could be designed to produce nickel sulfate or even precursors to the cathode active material (pCAM) for NMC batteries. Nickel sulfate can be produced by leaching nickel matte from nickel sulfide concentrates if the facility is a smelter, or it can be easily produced from a hydrometallurgical facility leaching awaruite concentrates.”
INVESTOR INFORMATION
The Company's common shares trade on the TSX Venture Exchange under the symbol "FAN", the American OTCQB Exchange under the symbol "FANCF" and on several German exchanges, including Frankfurt and Tradegate, under the symbol "P21".
Investors can get updates about First Atlantic by signing up to receive news via email and SMS text at www.fanickel.com.
FOR MORE INFORMATION:
First Atlantic Investor Relations
Robert Guzman
Tel: +1 844 592 6337 [email protected]
DISCLOSURE
Adrian Smith, P.Geo., a director and the Chief Executive Officer of the Company is a qualified person as defined by NI 43-101. The qualified person is a member in good standing of the Professional Engineers and Geoscientists Newfoundland and Labrador (PEGNL) and is a registered professional geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed herein.
ANALYTICAL METHOD & QA/QC
Representative rock samples were collected in the field from outcrops or subcrop exposures, while avoiding float material. Sample locations were documented using handheld GPS units. All samples were securely sealed, labeled and shipped to Activation Laboratories Ltd. (“Actlabs”) in Ancaster, Ontario, an ISO 17025 certified and accredited laboratory operating independently of First Atlantic.
Each sample was crushed, with a 250 g sub-sample pulverized to 95% passing 200 mesh. A magnetic separation was then generated by running the pulverized sub-sample through a magnetic separator which splits the sub-sample into magnetic and non-magnetic fractions. This involves running a 30 g split of the pulp through a Davis Tube magnetic separator as a slurry using a constant flow rate, a magnetic field strength of 3,500 Gauss, and a tube angle of 45 degrees to produce magnetic and non-magnetic fractions.
The magnetic fractions are collected, dried, weighed and fused using a lithium metaborate/tetraborate flux with a lithium bromide releasing agent, then analyzed on a wavelength dispersive XRF for multiple elements including nickel, cobalt, iron and chromium. The magnetically recoverable nickel grade was calculated by multiplying the XRF fusion nickel value by the weight of the magnetic fraction and dividing by the total recorded feed weight or magnetic mass pulled from the sample.
The Company’s quality assurance/quality control (QA/QC) protocol included the insertion of blanks, duplicates, and certified reference material (standards), to monitor the precision and accuracy of the laboratory results. All analytical results successfully passed QA/QC screening at the laboratory. All QA/QC protocols were performed by Actlabs. The Davis Tube Recovery (“DTR”) method described above is a bench scale metallurgical test used to measure the magnetically recoverable nickel (“DTR Ni %”).
ABOUT FIRST ATLANTIC NICKEL CORP.
First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) is a critical mineral exploration company in Newfoundland & Labrador developing the Pipestone XL Nickel-Cobalt Alloy Project. The project spans the entire 30-kilometer Pipestone Ophiolite Complex, where multiple zones, including RPM, Alloy Max, Super Gulp, Atlantic Lake, and Chrome Pond, contain awaruite (Ni₃Fe), a naturally occurring magnetic nickel-iron-cobalt alloy of approximately ~77% nickel with no-sulfur and no-sulfides, along with secondary chromium mineralization. Awaruite's sulfur-free composition removes acid mine drainage (AMD) risks, while its unique magnetic properties enable processing through magnetic separation, eliminating the electricity requirements, emissions, and environmental impacts of conventional smelting, roasting, or high-pressure acid leaching while reducing dependence on overseas nickel processing infrastructure.
The U.S. Geological Survey recognized awaruite's strategic importance in its 2012 Annual Report on Nickel, noting that these deposits may help alleviate prolonged nickel concentrate shortages since the natural alloy is much easier to concentrate than typical nickel sulfides. The Pipestone XL Nickel-Cobalt Alloy Project is located near existing infrastructure with year-round road access and proximity to hydroelectric power. These features provide favorable logistics for exploration and future development, strengthening First Atlantic's role to establish a secure and reliable source of North American nickel production for the stainless steel, electric vehicle, aerospace, and defense industries. This mission gained importance when the US added nickel to its critical minerals list in 2022, recognizing it as a non-fuel mineral essential to economic and national security with a supply chain vulnerable to disruption.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements:
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes statements that are not historical facts and is based on management’s current expectations, estimates, assumptions and projections as of the date of this news release. Although the Company believes that such forward-looking information is reasonable, it can give no assurance that such expectations will prove to be correct, as such forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results and future events to differ materially from those expressed or implied by such information. Forward-looking information in this news release includes, but is not limited to, statements regarding: the timing, scope, objectives and results of the Company’s exploration, sampling and drilling programs at the Pipestone XL Nickel-Cobalt Alloy Project, including at the Alloy Max Zone and RPM Zone; the construction and anticipated benefits of access trails and roads, including improved access to prospective areas; the submission, receipt and timing of permits, including for shallow pits and trenches; the potential size, continuity, extent and significance of awaruite-bearing mineralization at Alloy Max, RPM and elsewhere within the Pipestone Ophiolite Complex; the interpretation of DTR results, surface sampling, geological mapping and geophysical data; the expected relationship between surface sample results and subsurface drill core results; the potential for Alloy Max to represent a larger mineralized area than the RPM Zone; the identification of additional target areas; the Company’s ability to fund and advance planned exploration activities; and the Company’s broader plans for the advancement and development of its projects, including any potential downstream processing or vertical integration opportunities. Forward-looking information is based on a number of assumptions, including, without limitation: that geological, geophysical, sampling and analytical results are indicative of mineralization continuity and scale; that DTR and other analytical results are reliable and repeatable under comparable conditions; that exploration programs will proceed as currently contemplated; that the Company will be able to obtain required permits, access, contractor services, equipment, supplies and personnel in a timely manner; that market conditions and commodity prices will remain supportive; and that the Company will have access to sufficient capital on reasonable terms to fund its planned activities.
Forward-looking information is subject to a variety of risks and uncertainties, including, without limitation: exploration results not supporting the Company’s interpretations or expectations; the speculative nature of mineral exploration and development; uncertainty in geological continuity and grade; risks relating to the interpretation of sampling, DTR, geophysical and drilling results; delays in or failure to obtain required permits, approvals, access or financing; risks relating to contractors, equipment availability, labour and operating matters; adverse weather or logistical conditions; fluctuations in commodity prices and capital market conditions; environmental and regulatory risks; and other risks associated with the mining industry and the Company’s business and affairs. Additional information regarding these and other risks is available in the Company’s public disclosure documents filed under its profile on SEDAR+ at www.sedarplus.ca. The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no mineral reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information, except as required by applicable securities laws.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/0d889205-fb7e-475c-8751-5d952cf3ece1
https://www.globenewswire.com/NewsRoom/AttachmentNg/a589b9a4-1b35-4bb3-a248-1e899aa7ccce
https://www.globenewswire.com/NewsRoom/AttachmentNg/7805f049-1340-4244-83a9-aeea58fed6ee
https://www.globenewswire.com/NewsRoom/AttachmentNg/ace73c6f-2a73-4c1d-83e3-601db7c1b1fb
MEDINA, Ohio--(BUSINESS WIRE)--RPM International Inc. (NYSE: RPM) today announced the promotions of Don Harmeyer as group president and Tom Schweiger as chief financial officer of the company’s Consumer Group. These leadership changes will help accelerate growth and efficiency in a more global, diversified consumer business.
Frank C. Sullivan, RPM chairman and CEO, commented, "In addition to reflecting RPM’s strong management bench strength, the promotions of Don Harmeyer and Tom Schweiger reflect their dedication to RPM's values and demonstrated outstanding capability to optimize capital allocation, accelerate value creation and maintain financial discipline globally. I am confident that, under their guidance, we will accelerate progress toward our goals and create lasting value for our stakeholders."
Harmeyer has an extensive understanding of RPM’s Consumer Group, with 26 years of executive management experience there. Prior to this promotion, he served as the chief financial officer of RPM’s Consumer Group since September 2021, where he successfully managed global finance and information technology activities for leading brands, including Rust-Oleum, DAP, Gator and The Pink Stuff. Harmeyer holds a master of business administration degree from Northwestern University’s Kellogg Graduate School of Management and an undergraduate degree in accounting and finance with a minor in economics from the University of Wisconsin.
Succeeding Harmeyer as group CFO, Schweiger brings extensive experience in the consumer business with 18 years at Rust-Oleum and 11 years prior to that with Kraft. He brings strategic insight to the position, most recently serving as senior vice president - finance for Rust-Oleum Corporation. His tenure is highlighted by his leadership in the financial integration of major international acquisitions, rigorous cost control disciplines and the modernization of the global finance function. Schweiger earned a bachelor’s degree in business administration in accounting from the University of Iowa and is a Certified Public Accountant and Certified Internal Auditor.
These strategic promotions reinforce RPM’s commitment to disciplined execution and strong financial performance, as well as position RPM’s Consumer Group for continued profitable growth.
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, 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 17,800 individuals worldwide. Visit www.RPMinc.com to learn more.
MEDINA, Ohio--(BUSINESS WIRE)--RPM International Inc. (NYSE: RPM), a world leader in specialty coatings, sealants and building materials, today reported financial results for its fiscal 2026 third quarter ended February 28, 2026.
Frank C. Sullivan, RPM chairman and CEO commented, “I am proud of our record third-quarter results. In a period of volatile market conditions, we generated volume growth and record sales by utilizing our competitive strengths and nimbly focusing on growing end markets. Aided by MAP operational improvement initiatives, we demonstrated our ability to combine growth with efficiency, leveraging higher volumes to expand margins across all segments and generating strong operating cash flow. I want to thank all RPM associates for their focused execution and commitment to the organization.”
Third-Quarter 2026 Consolidated Results
Consolidated
Three Months Ended $ in 000s except per share data February 28, February 28, 2026
2025
$ Change % Change Net Sales $
1,607,949
$
1,476,562
$
131,387
8.9
%
Net Income Attributable to RPM Stockholders 51,364
52,034
(670
)
(1.3
%)
Diluted Earnings Per Share (EPS) 0.40
0.40
-
0.0
%
Income Before Income Taxes (IBT) 69,307
40,951
28,356
69.2
%
Earnings Before Interest and Taxes (EBIT) 84,075
62,678
21,397
34.1
%
Adjusted EBIT(1) 116,400
78,236
38,164
48.8
%
Adjusted Diluted EPS(1) 0.57
0.35
0.22
62.9
%
(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 third-quarter sales were driven by engineered solutions for high-performance buildings, acquisitions and favorable foreign currency translation, which were partially offset by soft DIY demand. A rebound from the government shutdown and favorable comparisons to the prior-year, which was also hampered by harsh weather, contributed to the growth as well.
Geographically, Europe grew by 20.1% and was aided by M&A and favorable foreign exchange. North American sales grew 6.3%, driven by high-performance building solutions and acquisitions. All emerging markets grew and were led by Africa / Middle East, with growth driven by high-performance building and infrastructure projects, along with favorable foreign currency translation.
Sales included 3.0% organic growth, 3.5% growth from acquisitions, and a 2.4% benefit from foreign currency translation.
Adjusted EBIT was a record and was driven by higher sales and improved fixed-cost leverage from higher volumes, aided by MAP operational improvement initiatives. This more than offset increased healthcare expenses.
Record adjusted diluted EPS was primarily driven by improved adjusted EBIT.
Adjusted EBIT and adjusted EPS exclude costs related to MAP initiatives, including $22.1 million in pre-tax charges associated with SG&A-focused optimization actions that were implemented during the fiscal third quarter.
Third-Quarter 2026 Segment Sales and Earnings
Construction Products Group Three Months Ended $ in 000s February 28, February 28, 2026
2025
$ Change % Change Net Sales $
546,665
$
494,845
$
51,820
10.5
%
Income Before Income Taxes 22,884
8,065
14,819
183.7
%
EBIT 23,612
8,607
15,005
174.3
%
Adjusted EBIT(1) 30,312
10,873
19,439
178.8
%
(1) Excludes certain items that are not indicative of RPM's ongoing operations. See table below titled Supplemental Segment Information for details. Record CPG sales were driven by broad-based strength across its North American businesses, which include roofing solutions, wall systems and concrete admixtures. Foreign currency translation and a rebound from the government shutdown also contributed to the record sales.
Sales included 6.9% organic growth, 0.2% growth from acquisitions net of divestitures, and a 3.4% benefit from foreign currency translation.
Adjusted EBIT was driven by improved sales, mix, SG&A-focused optimization actions and fixed-cost leverage, which more than offset temporary inefficiencies from plant consolidations.
Performance Coatings Group Three Months Ended $ in 000s February 28, February 28, 2026
2025
$ Change % Change Net Sales $
496,829
$
458,420
$
38,409
8.4
%
Income Before Income Taxes 61,025
53,792
7,233
13.4
%
EBIT 60,051
52,963
7,088
13.4
%
Adjusted EBIT(1) 66,786
55,663
11,123
20.0
%
(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 across its businesses, and in particular, protective coatings and passive fire protection. Demand in emerging markets for infrastructure and high-performance building solutions was also strong and positive foreign currency translation contributed to sales.
Sales included 5.1% organic growth, a 0.9% increase from acquisitions, and a 2.4% benefit from foreign currency translation.
Record adjusted EBIT was driven by improved sales, SG&A-focused optimization actions and fixed-cost leverage.
Consumer Group Three Months Ended $ in 000s February 28, February 28, 2026
2025
$ Change % Change Net Sales $
564,455
$
523,297
$
41,158
7.9
%
Income Before Income Taxes 45,750
44,139
1,611
3.6
%
EBIT 45,730
44,405
1,325
3.0
%
Adjusted EBIT(1) 58,518
50,883
7,635
15.0
%
(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 acquisitions and pricing to recover inflation. This growth was partially offset by continued softness in DIY markets as well as product rationalization.
Sales included a 2.4% organic decline, 9.0% growth from acquisitions, and a 1.3% benefit from foreign currency translation.
The adjusted EBIT increase was driven by MAP operational improvements, including SG&A-focused optimization actions, which more than offset reduced fixed-cost leverage from lower volumes and temporary inefficiencies from facility closures and transitions. The integration of acquired businesses and product rationalization also contributed to adjusted EBIT growth.
Cash Flow and Financial Position
During the first nine months of fiscal 2026:
Cash provided by operating activities was $656.7 million, the second-highest amount in the company’s history, compared to $619.0 million in the prior-year period. Capital expenditures were $159.6 million compared to $158.9 million in the prior-year period. The company returned $255.3 million to stockholders through cash dividends and share repurchases, an increase of 5.2% compared to the prior year. The company had multiple small asset sales as part of MAP initiatives to rationalize production lines, with proceeds from these transactions totaling $14.3 million in the third fiscal quarter. As of February 28, 2026:
Total debt was $2.56 billion compared to $2.10 billion a year ago, with the increase driven by debt used to finance acquisitions. Total liquidity, including cash and committed revolving credit facilities, was $1.02 billion, compared to $1.21 billion a year ago, with the decrease driven by the use of credit facilities to finance acquisitions. The company extended the maturity of its revolving credit facility to February 27, 2031, and maintained the size of the facility at $1.35 billion. Business Outlook
Sullivan said, “We expect to grow sales and adjusted EBIT again in the fourth quarter and deliver record results, even as we face more challenging comparisons and geopolitical uncertainty in the Middle East adds cost and complexity to the operating environment.”
He concluded, “As we have demonstrated in prior cycles, we remain focused on what we can control—outgrowing our underlying markets and driving efficiency improvements. Our center‑led procurement team is applying lessons learned from past supply chain disruptions to mitigate inflation and ensure supply, while we implement pricing actions to offset remaining cost pressures. I want to thank our associates globally—especially those in the Middle East—for their commitment to safety and their continued focus on serving customers during these uncertain times.”
The company’s outlook for the fiscal 2026 fourth quarter is:
Reaffirming consolidated sales to increase in the mid-single-digit range compared to prior-year record results. Reaffirming consolidated adjusted EBIT to be up low- to high-single-digits compared to prior-year record results. Closing of Kalzip Acquisition
The company completed the previously announced acquisition of Kalzip GmbH (“Kalzip”), a global leader in the design and production of metal-based roofs and facades on March 31, 2026. Kalzip generated revenue of approximately €75.0 million in calendar year 2024 and is now part of the Construction Products Group.
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 April 8, 2026, until April 15, 2026. The replay can be accessed by dialing 1-855-669-9658 or 1-412-317-0088 for international callers. The access code is 9537849. 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, 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 17,800 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 [email protected].
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 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 and adjusted earnings per share provided for the purpose of adjusting for one-off items impacting revenues and/or expenses 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 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. Our underwriters and bankers consistently require inclusion of this measure in offering memoranda in conjunction with any debt underwriting or bank financing. EBIT 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 and adjusted EBIT to income before income taxes, and adjusted earnings per share to earnings per share. We have not provided a reconciliation of our fourth-quarter fiscal 2026 adjusted EBIT 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 recent conflict with Iran 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 artificial intelligence, 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 Form 10-K for the year ended May 31, 2025, 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.
CONSOLIDATED STATEMENTS OF INCOME IN THOUSANDS, EXCEPT PER SHARE DATA (Unaudited) Three Months Ended Nine Months Ended February 28, February 28, February 28, February 28, 2026
2025
2026
2025
Net Sales $
1,607,949
$
1,476,562
$
5,631,587
$
5,290,669
Cost of Sales 973,133
909,072
3,323,388
3,121,962
Gross Profit 634,816
567,490
2,308,199
2,168,707
Selling, General & Administrative Expenses 533,872
501,710
1,656,871
1,557,692
Restructuring Expense 19,855
3,456
33,200
18,215
Interest Expense 26,947
22,993
84,278
70,604
Investment (Income), Net (12,179
)
(1,266
)
(35,609
)
(20,818
)
Other (Income), Net (2,986
)
(354
)
(8,890
)
(1,370
)
Income Before Income Taxes 69,307
40,951
578,349
544,384
Provision (Benefit) for Income Taxes 17,693
(11,363
)
137,421
80,066
Net Income 51,614
52,314
440,928
464,318
Less: Net Income Attributable to Noncontrolling Interests 250
280
752
1,388
Net Income Attributable to RPM International Inc. Stockholders $
51,364
$
52,034
$
440,176
$
462,930
Earnings per share of common stock attributable to RPM International Inc. Stockholders: Basic $
0.40
$
0.41
$
3.45
$
3.61
Diluted $
0.40
$
0.40
$
3.43
$
3.59
Average shares of common stock outstanding - basic 127,045
127,536
127,156
127,628
Average shares of common stock outstanding - diluted 127,507
128,154
127,707
128,315
SUPPLEMENTAL SEGMENT INFORMATION IN THOUSANDS (Unaudited) Three Months Ended Nine Months Ended February 28, February 28, February 28, February 28, 2026
2025
2026
2025
Net Sales: CPG Segment $
546,665
$
494,845
$
2,165,550
$
2,043,318
PCG Segment 496,829
458,420
1,569,113
1,459,611
Consumer Segment 564,455
523,297
1,896,924
1,787,740
Total $
1,607,949
$
1,476,562
$
5,631,587
$
5,290,669
Income Before Income Taxes: CPG Segment Income Before Income Taxes (a) $
22,884
$
8,065
$
280,825
$
277,008
Interest (Expense), Net (b) (728
)
(542
)
(2,259
)
(1,910
)
EBIT (c) 23,612
8,607
283,084
278,918
MAP initiatives (d) 6,700
2,007
15,380
6,457
Inventory step-up costs (e) -
259
-
259
(Gain) on sale of assets and businesses, net (f) -
-
(400
)
-
Adjusted EBIT $
30,312
$
10,873
$
298,064
$
285,634
PCG Segment Income Before Income Taxes (a) $
61,025
$
53,792
$
225,403
$
211,237
Interest Income, Net (b) 974
829
2,522
2,070
EBIT (c) 60,051
52,963
222,881
209,167
MAP initiatives (d) 6,634
1,921
13,587
7,380
Inventory step-up costs (e) 101
497
142
497
(Gain) on sale of assets and businesses, net (f) -
-
-
(237
)
Legal contingency adjustment on a divested business (h) -
282
-
282
Adjusted EBIT $
66,786
$
55,663
$
236,610
$
217,089
Consumer Segment Income Before Income Taxes (a) $
45,750
$
44,139
$
255,180
$
236,824
Interest Income (Expense), Net (b) 20
(266
)
(236
)
(1,080
)
EBIT (c) 45,730
44,405
255,416
237,904
MAP initiatives (d) 12,788
6,478
17,752
25,397
Inventory step-up costs (e) -
-
7,903
-
(Gain) on acquisition earn-out fair value adjustment (g) -
-
(12,707
)
-
Adjusted EBIT $
58,518
$
50,883
$
268,364
$
263,301
Corporate/Other (Loss) Before Income Taxes (a) $
(60,352
)
$
(65,045
)
$
(183,059
)
$
(180,685
)
Interest (Expense), Net (b) (15,034
)
(21,748
)
(48,696
)
(48,866
)
EBIT (c) (45,318
)
(43,297
)
(134,363
)
(131,819
)
MAP initiatives (d) 6,102
4,114
12,149
27,449
Adjusted EBIT $
(39,216
)
$
(39,183
)
$
(122,214
)
$
(104,370
)
TOTAL CONSOLIDATED Income Before Income Taxes (a) $
69,307
$
40,951
$
578,349
$
544,384
Interest (Expense) (26,947
)
(22,993
)
(84,278
)
(70,604
)
Investment Income, Net 12,179
1,266
35,609
20,818
EBIT (c) 84,075
62,678
627,018
594,170
MAP initiatives (d) 32,224
14,520
58,868
66,683
Inventory step-up costs (e) 101
756
8,045
756
(Gain) on sale of assets and businesses, net (f) -
-
(400
)
(237
)
(Gain) on acquisition earn-out fair value adjustment (g) -
-
(12,707
)
-
Legal contingency adjustment on a divested business (h) -
282
-
282
Adjusted EBIT $
116,400
$
78,236
$
680,824
$
661,654
(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 and Adjusted EBIT. (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. Our underwriters and bankers consistently require inclusion of this measure in offering memoranda in conjunction with any debt underwriting or bank 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 $3.0 million and $3.5 million for the quarters ended February 28, 2026 and February 28, 2025 respectively and $16.3 million and $18.2 million for the nine months ended February 28, 2026 and February 28, 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 recorded in "Restructuring Expense" on the Consolidated Statements of Income. Restructuring Expense related to the 2026 restructuring action totaled $16.9 million for the quarter and year ended February 28, 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".
- 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.
- Loss (Gain) on sale of closed facilities: Net gain related to the sale of three properties that were closed as part of the MAP 2025 program, partially offset by losses in preparing three other facilities for sale.
Included below is a reconciliation of the TOTAL CONSOLIDATED MAP initiatives.
Three Months Ended Nine Months Ended February 28, February 28, February 28, February 28, 2026
2025
2026
2025
MAP 2025 Restructuring and other related expense, net
$
3,132
$
7,473
$
20,368
$
29,526
2026 Restructuring and other related expense, net
22,110
-
22,110
-
ERP consolidation plan
3,643
2,570
11,049
11,519
Professional fees
3,229
4,477
9,571
25,638
Loss (Gain) on sale of closed facilities
110
-
(4,230
)
-
MAP initiatives
$
32,224
$
14,520
$
58,868
$
66,683
(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. Fiscal 2025 reflects gains recorded in "SG&A" associated with post-closing adjustments for the sale of the non-core furniture warranty business which was sold in fiscal 2023. (g)
A fair value adjustment of the earn-out liability associated with the Star Brands Group acquisition which resulted in a gain recorded in "SG&A" as management does not consider this gain to be reflective of the company’s core business operations. (h)
Represents incremental expense related to an adverse legal ruling from a case associated with a business that was divested in FY23. SUPPLEMENTAL INFORMATION RECONCILIATION OF "REPORTED" TO "ADJUSTED" AMOUNTS (Unaudited) Three Months Ended Nine Months Ended February 28, February 28, February 28, February 28, 2026
2025
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 $
0.40
$
0.40
$
3.43
$
3.59
MAP initiatives (d) 0.19
0.10
0.35
0.39
Inventory step-up costs (e) -
-
0.05
-
(Gain) on acquisition earn-out fair value adjustment (f) -
-
(0.10
)
-
Investment returns (g) (0.02
)
0.02
(0.08
)
(0.02
)
Income tax adjustments (h) -
(0.17
)
-
(0.38
)
Adjusted Earnings per Diluted Share (i) $
0.57
$
0.35
$
3.65
$
3.58
(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 $3.0 million and $3.5 million for the quarters ended February 28, 2026 and February 28, 2025 respectively and $16.3 million and $18.2 million for the nine months ended February 28, 2026 and February 28, 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 recorded in "Restructuring Expense" on the Consolidated Statements of Income. Restructuring Expense related to the 2026 restructuring action totaled $16.9 million for the quarter and year ended February 28, 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".
- 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.
- Loss (Gain) on sale of closed facilities: Net gain related to the sale of three properties that were closed as part of the MAP 2025 program, partially offset by losses in preparing three other facilities for sale.
(e)
Amortization of inventory fair value adjustments related to acquisitions recorded in “Cost of Sales”. (f)
A fair value adjustment of the earn-out liability associated with the Star Brands Group acquisition which resulted in a gain recorded in "SG&A" as management does not consider this gain 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. (h)
U.S. foreign tax credits recognized as a result of global cash redeployment and debt optimization projects, as well as other adjustments to our net deferred tax asset related to U.S. foreign tax credit carryforwards resulting from our reassessment of income tax positions following developments in U.S. income tax case law. (i)
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. CONSOLIDATED BALANCE SHEETS IN THOUSANDS (Unaudited) February 28, 2026 February 28, 2025 May 31, 2025 Assets Current Assets Cash and cash equivalents $
294,206
$
241,895
$
302,137
Trade accounts receivable 1,261,112
1,153,993
1,551,953
Allowance for doubtful accounts (37,717
)
(48,908
)
(42,844
)
Net trade accounts receivable 1,223,395
1,105,085
1,509,109
Inventories 1,120,273
1,044,776
1,036,475
Prepaid expenses and other current assets 415,566
367,197
322,577
Total current assets 3,053,440
2,758,953
3,170,298
Property, Plant and Equipment, at Cost 2,885,364
2,629,810
2,738,373
Allowance for depreciation (1,365,007
)
(1,236,755
)
(1,264,974
)
Property, plant and equipment, net 1,520,357
1,393,055
1,473,399
Other Assets Goodwill 1,680,867
1,358,632
1,617,626
Other intangible assets, net of amortization 821,466
510,385
780,826
Operating lease right-of-use assets 398,726
346,221
370,399
Deferred income taxes 161,144
34,368
147,436
Other 248,654
217,961
215,965
Total other assets 3,310,857
2,467,567
3,132,252
Total Assets $
7,884,654
$
6,619,575
$
7,775,949
Liabilities and Stockholders' Equity Current Liabilities Accounts payable $
675,445
$
640,446
$
755,889
Current portion of long-term debt 8,383
7,057
7,691
Accrued compensation and benefits 230,559
215,643
287,398
Accrued losses 32,995
33,568
36,701
Other accrued liabilities 391,052
346,747
379,768
Total current liabilities 1,338,434
1,243,461
1,467,447
Long-Term Liabilities Long-term debt, less current maturities 2,547,104
RPM International (RPM - Free Report) came out with quarterly earnings of $0.57 per share, beating the Zacks Consensus Estimate of $0.37 per share. This compares to earnings of $0.35 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +55.99%. A quarter ago, it was expected that this specialty chemicals company would post earnings of $1.41 per share when it actually produced earnings of $1.2, delivering a surprise of -14.89%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
RPM International, which belongs to the Zacks Chemical - Specialty industry, posted revenues of $1.61 billion for the quarter ended February 2026, surpassing the Zacks Consensus Estimate by 3.46%. This compares to year-ago revenues of $1.48 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
RPM International shares have lost about 7% since the beginning of the year versus the S&P 500's decline of 3.3%.
What's Next for RPM International?While RPM International has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for RPM International was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.82 on $2.19 billion in revenues for the coming quarter and $5.26 on $7.76 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Chemical - Specialty is currently in the bottom 25% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Sensient Technologies (SXT - Free Report) , has yet to report results for the quarter ended March 2026. The results are expected to be released on April 24.
This maker of colors, flavors and fragrances is expected to post quarterly earnings of $0.80 per share in its upcoming report, which represents a year-over-year change of -7%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Sensient Technologies' revenues are expected to be $405.9 million, up 3.5% from the year-ago quarter.
For the quarter ended February 2026, RPM International (RPM - Free Report) reported revenue of $1.61 billion, up 8.9% over the same period last year. EPS came in at $0.57, compared to $0.35 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.55 billion, representing a surprise of +3.46%. The company delivered an EPS surprise of +55.99%, with the consensus EPS estimate being $0.37.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how RPM International performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- Construction Products Group/ CPG: $546.67 million versus $518.9 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +15.5% change.Net Sales- Consumer Segment: $564.46 million compared to the $564.85 million average estimate based on four analysts. The reported number represents a change of +12% year over year.Net Sales- Performance Coatings Group/ PCG: $496.83 million versus $473.33 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +45.9% change.Adjusted EBIT- Consumer Segment: $58.52 million compared to the $59.28 million average estimate based on four analysts.Adjusted EBIT- Performance Coatings Group/ PCG: $66.79 million compared to the $54.64 million average estimate based on four analysts.Adjusted EBIT- Construction Products Group/ CPG: $30.31 million compared to the $16.8 million average estimate based on four analysts.Adjusted EBIT- Corporate/Other: $-39.22 million compared to the $-45.71 million average estimate based on four analysts.View all Key Company Metrics for RPM International here>>>
Shares of RPM International have returned -5.2% over the past month versus the Zacks S&P 500 composite's -1.7% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Key Takeaways RPM reported Q3 EPS of 57 cents, beating estimates by 54.1%, with sales up 8.9% YoY.It benefited from strong demand in high-performance buildings, acquisition contributions & currency tailwinds.Margins expanded on MAP initiatives and efficiencies despite inflation and weak DIY demand. RPM International Inc. (RPM - Free Report) reported excellent third-quarter fiscal 2026 (ended Feb. 28, 2026) results, with quarterly earnings and net sales topping the Zacks Consensus Estimate and increasing on a year-over-year basis.
The quarterly results were driven by increased demand for engineered solutions for high-performance buildings, contributions from acquisitions and favorable foreign currency translation. Besides, favorable comparisons from last year’s growth, which was affected by harsh weather conditions, also led to year-over-year growth in the financial performance. These tailwinds were somewhat offset by soft DIY demand during the fiscal quarter.
On the other hand, RPM’s expense optimization actions and supply-chain efficiencies under the MAP operational improvement initiatives aided the bottom line despite elevated inflationary pressures.
Looking ahead, management expects sales and adjusted EBIT growth in the upcoming quarter even if geopolitical uncertainties add to the costs and complexity of the operating environment. RPM aims at disciplined investments in areas demonstrating strong returns and long-term growth potential, including high-performance buildings, business intelligence and innovation.
Following the release, RPM stock surged 10.7% during today’s pre-market trading hours, reflecting investors’ optimism.
Inside RPM International’s HeadlinesThe company’s adjusted earnings per share (EPS) of 57 cents topped the Zacks Consensus Estimate of 37 cents by 54.1%. In the year-ago quarter, RPM reported an adjusted EPS of 35 cents.
Net sales of $1.61 billion also surpassed the consensus mark of $1.55 billion by 3.9% and grew 8.9% year over year. Net sales increased 3% organically during the quarter year over year. Acquisitions and favorable foreign currency translation aided sales by 3.5% and 2.4%, respectively.
Geographically, sales climbed 20.1% in Europe (17% of the fiscal third quarter’s total sales) compared with a year ago, driven by mergers and acquisitions and favorable foreign exchange. North American (74% of total sales) sales increased 6.3% thanks to elevated demand for high-performance building solutions and acquisitions. Sales in Latin America (4% of total sales) were up 6.8% year over year
Moreover, the markets in Africa and the Middle East (2% of total sales) elevated the growth in all emerging markets because of high-performance building and infrastructure projects, along with favorable foreign currency translation. The metric in the Asia Pacific (3% of total sales) also grew 16.1% year over year.
RPM’s Operational DiscussionSelling, general and administrative expenses, as a percentage of net sales, contracted 80 basis points (bps) to 33.2% from 34% reported a year ago.
Adjusted EBIT grew 48.8% year over year to $116.4 million. Adjusted EBIT margin expanded 190 bps to 7.2%.
Segmental Details of RPM InternationalConstruction Products Group: In the reported quarter, the segment’s net sales increased 10.5% from a year ago to $546.7 million, owing to 6.9% organic sales growth, a 0.2% contribution from buyouts (net of divestitures) and 3.4% favorable foreign currency translation.
Adjusted EBIT of $30.3 million surged 178.8% year over year, and adjusted EBIT margin expanded 330 bps to 5.5%.
Performance Coatings Group: The segment’s net sales grew 8.4% year over year to $496.8 million. Sales were up 5.1% organically, 0.9% driven by acquisitions and 2.4% aided by favorable foreign currency translation.
Adjusted EBIT was up 20% on a year-over-year basis to $66.8 million and adjusted EBIT margin increased 130 bps to 13.4%.
Consumer Group: Net sales in the segment increased 7.9% year over year to $564.5 million. Organic sales declined 2.4%, while favorable foreign currency translation aided sales by 1.3%. Also, the acquisition contributed 9% to sales growth.
The segment’s adjusted EBIT was up 15% from the prior-year level to $58.5 million and the adjusted EBIT margin expanded 70 bps to 10.4%.
RPM International’s Balance SheetAt the end of the fiscal third quarter, RPM International had a total liquidity of $1.02 billion compared with $969.1 million at the fiscal 2025-end. This includes cash and cash equivalents of $294.2 million compared with $302.1 million at fiscal 2025-end.
Long-term debt (excluding current maturities) as of Feb. 28, 2026, was $2.55 billion, down from $2.64 billion at fiscal 2025-end.
As of the first nine months of fiscal 2026, net cash provided by operating activities was $656.7 million, up from $619 million in the year-ago period. RPM also returned $255.3 million to stockholders through $202.8 million of dividends and $52.5 million of share repurchases during the first nine months of fiscal 2026.
RPM Reaffirms Q4 FY2026 OutlookThe company still expects net sales in the fourth quarter of fiscal 2026 to increase in the mid-single-digit range year over year. Also, the adjusted EBIT is projected to be up in low- to high-single-digits compared with the year-ago quarter.
RPM Stock’s Zacks RankStocks With the Favorable CombinationHere are some companies in the Basic Materials sector, which per our model, have the right combination of a positive Earnings ESP and a Zacks Rank of 1, 2 (Buy) or 3 (Hold), to post an earnings beat in the respective quarters to be reported.
Equinox Gold Corp. (EQX - Free Report) has an Earnings ESP of +12.50% and a Zacks Rank of 1 at present.
Equinox Gold reported better-than-expected earnings in two of the last four quarters and missed on the remaining two occasions, the average surprise being 89.2%. Equinox Gold’s earnings for the first quarter of 2026 are expected to surge 412.5% from the prior year.
Teck Resources Limited (TECK - Free Report) currently has an Earnings ESP of +1.64% and a Zacks Rank of 2.
Teck Resources’ earnings for the first quarter of 2026 are expected to increase 88.1% year over year. Teck Resources reported better-than-expected earnings in each of the last four quarters, the average surprise being 54.3%.
Albemarle Corporation (ALB - Free Report) currently has an Earnings ESP of +97.57% and a Zacks Rank of 3.
Albemarle reported better-than-expected earnings in three of the last four quarters and missed on the remaining occasion, the average surprise being 57.8%. Albemarle’s earnings for the first quarter of 2026 are expected to increase year over year by a whopping 533.3%.
While the ceasefire in Iran is helping markets power higher today, RPM International (RPM +0.57%) stock is soaring for a separate reason. The company announced third-quarter 2026 financial results before the bell rang this morning, and investors are clearly happy with how RPM International, a leader in specialty coatings, performed.
As of 3:40 p.m. ET, shares of RPM International are up 11.9%, retreating slightly from their earlier gain of 15.1%.
Image source: Getty Images.
A company record has investors racing to pick up shares Reporting a company record for third-quarter revenue, RPM International posted sales of $1.61 billion for Q3 2026, a year-over-year increase of 8.9%. The consensus among analysts was that the company would report revenue of $1.55 billion.
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The bottom of the income statement provided investors with even more to celebrate. While analysts had expected the company to post Q3 2026 adjusted diluted earnings per share (EPS) of $0.35, RPM International reported adjusted diluted EPS of $0.57.
Lauding the company's recent performance, Frank Sullivan, RPM International's CEO, stated in the Q3 2026 financial results press release: "I am proud of our record third-quarter results. In a period of volatile market conditions, we generated volume growth and record sales by utilizing our competitive strengths and nimbly focusing on growing end markets."
RPM International sales are hanging on the discount rack Hiking its dividend for 52 consecutive years, RPM International is a Dividend King stock (a group of stocks that have raised their annual dividends for at least 50 consecutive years) that will appeal to those looking to supplement their passive income streams. And with shares trading at 15.3 times operating cash flow -- a discount to their five-year average cash flow multiple of 18.2 -- today's a great time to consider clicking the buy button on RPM International stock.
Scott Levine has no position in any of the stocks mentioned. The Motley Fool recommends RPM International. The Motley Fool has a disclosure policy.
RPM International Inc. delivered strong Q3 results with revenue up 8.9% YoY and record adjusted EBIT, driven by construction and performance coatings strength. Margin expansion was primarily due to improved fixed-cost absorption and overhead reduction, not broad-based demand growth, highlighting execution as a key differentiator. Consumer segment remains a weak spot with negative organic growth and price elasticity issues, necessitating restructuring and introducing execution risks.
RPM International Inc.'s Q3 rebound featured 3% organic revenue growth and 49% operating income growth, with strong segment-level outperformance and incremental margin gains. RPM's leveraging easier comps and expanding value-added turnkey solutions, but a weak consumer DIY market and commodity inflation risk remain near-term issues. The company's MAP 3.0 self-help program targets $100M in SG&A improvements by fiscal 2027, alongside ongoing innovation and capital efficiency initiatives.
RPM International NYSE: RPM stock is presenting an attractive entry following its fiscal Q3 2026 earnings release. The release triggered a more than 15% surge in the stock price, confirming support at a critical level and a hard bottom for this market. Among the report's details were strength, outperformance, a significant earnings beat, and the safety of capital returns.
RPM International Today
RPM
RPM International
$107.94 +0.41 (+0.38%)
As of 02:49 PM Eastern
This is a fair market value price provided by Massive. Learn more.
52-Week Range$92.92▼
$129.12Dividend Yield2.00%
P/E Ratio20.79
Price Target$127.42
Capital returns are a critical element in 2026, as those with cash flow and the ability to pay their investors have been outperforming. The takeaway is that risk-on investing still drives the market to some degree, but the profits taken from AI stocks earlier this year are being reinvested in blue-chip, high-quality capital return machines with stable payment outlooks, such as RPM International.
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The stock price bottom is a significant factor. The market for RPM has been under pressure for over a year, touching bottom in early 2025 and then retesting it ahead of the fiscal Q3 release.
The post-release price action included a 15% price surge, creating a large Marubozu Candle that indicates strong support at this level and potential for continued rebounding.
The caveat is that this market needs to break out above its long-term exponential moving averages, which it has not yet done. If it fails to break these averages, RPM stock could remain capped at current levels until later in the year, but the analysts and institutional trends suggest otherwise.
Analysts and Institutions Accumulate RPM StockThe analyst community provides support, incentives, and potential to catalyze the market in Q2 2026. MarketBeat tracks 15, a sufficiently strong number for the consensus to have some conviction, and they peg the stock at Moderate Buy.
Current Price$107.91High Forecast$148.00Average Forecast$127.42Low Forecast$111.00RPM International Stock Forecast Details
The bias is 73% in favor of Buy, with a consensus price target of $126, as of early April. The $126 target is down slightly compared to the prior month, quarter, and year, reflecting a cautionary tone, but forecasts a 17% upside from the critical target, the cluster of moving averages, and is a fresh long-term high when reached. The catalyst would be a strengthening of the trend, including price target revisions and upgrades.
Institutions, meanwhile, have been accumulating this stock. Their activity reflects nine consecutive quarters of accumulation, hitting long-term highs in Q1 2026. The Q1 balance is more than $1.50 bought for each $1 sold and will likely increase now that results and guidance are in.
RPM International’s capital return includes a dividend and share buybacks. The dividend yields about 2% with shares trading near $105, and it is a reliable payment, having been increased annually for over 50 years. This makes RPM a Dividend King, a factor that helps increase total ownership and reduce market volatility.
Regarding safety, RPM International’s payout ratio is below 50% of earnings, with payments and future increases supported by earnings growth and a reduction in share count. The buybacks aren’t aggressive but they are reliable, reducing the count at a steady, approximately 0.5% pace in Q3 and year-to-date. Given the Q3 results and outlook, the buyback activity is likely to continue in the company's fiscal Q4 and the subsequent fiscal year.
RPM Shows Momentum With Q3 ResultsRPM International had a solid quarter in Q3 despite the macroeconomic headwinds. The company reported more than $1.6 billion in net revenue, up 8.8% year-over-year (YOY), and more than 380 basis points better than expected. The gain was supported by 3% organic growth, underpinned by volume, 3.5% acquisitional growth, and a 2.4% foreign exchange tailwind. Segmentally, Construction Products grew by 10.5%, Performance Coatings by 8.4%, and Consumer Products by 7.9%, with 20% growth in the EU, 6.3% domestically, and strength seen in all emerging markets.
Margin was another area of strength. The company leaned into quality improvements, resulting in significant operational efficiencies. Critical details include record-setting adjusted EBIT, up nearly 50% YOY, and a 63% increase in adjusted EPS. The 57 cents in adjusted EPS is also well above forecasts, outpacing consensus by nearly a quarter. Looking ahead, the Q3 results and earnings strength suggest that Q4 guidance is cautious, as it was only reaffirmed at the previously stated levels. Either way, the company forecasts mid-single-digit revenue growth and a similar gain in earnings.
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Have you looked into how RPM International (RPM - Free Report) performed internationally during the quarter ending February 2026? Considering the widespread global presence of this specialty chemicals company, examining the trends in international revenues is essential for assessing its financial resilience and prospects for growth.
In the current era of a tightly interconnected global economy, the proficiency of a company to penetrate international markets significantly influences its financial health and trajectory of growth. For investors, the key is to grasp how reliant a company is on overseas markets, as this provides insights into the durability of its earnings, its ability to exploit different economic cycles, and its overall growth capabilities.
International market involvement serves as insurance against economic downturns at home and enables engagement with economies that are growing more quickly. Still, this move toward diversification is not without its challenges, as it involves navigating through the fluctuations of currencies, geopolitical threats, and the distinctive nature of various markets.
In our recent assessment of RPM's quarterly performance, we discovered notable trends in its overseas revenue sections, which are typically modeled and scrutinized by Wall Street analysts.
The recent quarter saw the company's total revenue reaching $1.61 billion, marking an improvement of 8.9% from the prior-year quarter. Next, we'll examine the breakdown of RPM's revenue from abroad to comprehend the significance of its international presence.
A Closer Look at RPM's Revenue Streams AbroadOf the total revenue, $91.84 million came from Canada during the last fiscal quarter, accounting for 5.7%. This represented a surprise of -11.55% as analysts had expected the region to contribute $103.83 million to the total revenue. In comparison, the region contributed $126.75 million, or 6.6%, and $87.1 million, or 5.9%, to total revenue in the previous and year-ago quarters, respectively.
During the quarter, Other Foreign contributed $29.67 million in revenue, making up 1.8% of the total revenue. When compared to the consensus estimate of $23.27 million, this meant a surprise of +27.48%. Looking back, Other Foreign contributed $31.92 million, or 1.7%, in the previous quarter, and $24.42 million, or 1.7%, in the same quarter of the previous year.
Asia Pacific generated $43.78 million in revenues for the company in the last quarter, constituting 2.7% of the total. This represented a surprise of +33.46% compared to the $32.8 million projected by Wall Street analysts. Comparatively, in the previous quarter, Asia Pacific accounted for $42.89 million (2.3%), and in the year-ago quarter, it contributed $37.72 million (2.6%) to the total revenue.
Latin America accounted for 4.4% of the company's total revenue during the quarter, translating to $70.95 million. Revenues from this region represented a surprise of +19.39%, with Wall Street analysts collectively expecting $59.43 million. When compared to the preceding quarter and the same quarter in the previous year, Latin America contributed $76.87 million (4%) and $66.44 million (4.5%) to the total revenue, respectively.
Europe generated $269.39 million in revenues for the company in the last quarter, constituting 16.8% of the total. This represented a surprise of +15.04% compared to the $234.17 million projected by Wall Street analysts. Comparatively, in the previous quarter, Europe accounted for $304.09 million (15.9%), and in the year-ago quarter, it contributed $224.29 million (15.2%) to the total revenue.
International Revenue PredictionsThe current fiscal quarter's total revenue for RPM International, as projected by Wall Street analysts, is expected to reach $2.19 billion, reflecting an increase of 5.2% from the same quarter last year. The breakdown of this revenue by foreign region is as follows: Canada is anticipated to contribute 6.9% or $150.44 million, Other Foreign 1.5% or $31.94 millionAsia Pacific 2% or $43.84 millionLatin America 3.7% or $80.11 million and Europe 15% or $329.23 million.
For the full year, the company is projected to achieve a total revenue of $7.79 billion, which signifies a rise of 5.7% from the last year. The share of this revenue from various regions is expected to be: Canada at 6.8% ($529.84 million), Other Foreign at 1.5% ($117.14 million), Asia Pacific at 2% ($158.95 million), Latin America at 3.7% ($287.32 million), and Europe at 15.1% ($1.18 billion).
The Bottom LineRelying on global markets for revenues presents both prospects and challenges for RPM International. Therefore, scrutinizing its international revenue trends is key to effectively forecasting the company's future outlook.
In a world where international interdependencies and geopolitical conflicts are ever-increasing, Wall Street analysts closely monitor these trends for companies having international presence to adjust their earnings forecasts. Of course, there are several other factors, including a company's standing within its home borders, that influence analysts' earnings forecasts.
We at Zacks strongly focus on the dynamic earnings forecast of companies, given that empirical studies have demonstrated its potent impact on the immediate price movement of stocks. Invariably, there's a positive relationship -- upward earnings predictions often result in an increase in stock prices.
The Zacks Rank, our proprietary stock rating mechanism, demonstrates a notable performance history confirmed through external audits. It effectively utilizes the power of earnings estimate revisions to act as a predictor of a stock's price performance in the near term.
Currently, RPM International holds a Zacks Rank #3 (Hold), signifying its potential to match the overall market's performance in the forthcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Exploring Recent Trends in Stock PriceThe stock has witnessed an increase of 9.5% over the past month versus the Zacks S&P 500 composite's an increase of 0.6%. In the same interval, the Zacks Basic Materials sector, to which RPM International belongs, has registered an increase of 0.8%. Over the past three months, the company's shares saw a decrease of 1.5%, while the S&P 500 declined by 1.8%. In comparison, the sector experienced an increase of 10.8% during this timeframe.
MEDINA, Ohio--(BUSINESS WIRE)--RPM International Inc. (NYSE: RPM) today announced the appointment of Thomas C. Gentile, III to its board of directors, effective immediately. This appointment expands the board to 13 members and reflects RPM’s ongoing commitment to expanding the expertise and leadership capabilities of its board as the company continues to drive long-term growth and shareholder value.
Mr. Gentile currently serves as chairman, chief executive officer and president of Hexcel Corporation, a global leader in advanced lightweight composites technology. He assumed the position of CEO and president in May 2024 and was appointed as chairman of the company’s board of directors in December 2024. His extensive executive experience in complex, global manufacturing environments and comprehensive understanding of industrial operations will provide valuable oversight as RPM continues to grow its global operations.
Prior to joining Hexcel, Mr. Gentile served as president and CEO of Spirit AeroSystems, a global supplier of structures for commercial aerospace and defense platforms. He previously spent 19 years at GE, holding a succession of leadership roles across the U.S., France and Australia. During his tenure at GE, his executive positions included president and chief operating officer of GE Capital, president and CEO of GE Healthcare Systems, and president and CEO of GE Aviation Services. Earlier in his career, he held leadership and strategy roles with McKinsey & Company, CBS and General Motors.
Mr. Gentile earned his bachelor’s degree in economics magna cum laude and a master of business administration from Harvard University. He also studied international relations at the London School of Economics. He will serve on RPM’s compensation committee.
“We are very pleased to welcome Tom to the RPM board of directors,” said Frank C. Sullivan, RPM chairman and CEO. “Tom’s exceptional leadership across global manufacturing and his deep understanding of advanced industrial operations bring tremendous value to our board. His proven operational expertise aligns with our strategic goals, and we look forward to his insights as we continue to drive long-term growth and deliver outstanding results for our shareholders.”
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, 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 17,800 individuals worldwide. Visit www.RPMinc.com to learn more.
A month has gone by since the last earnings report for RPM International (RPM - Free Report) . Shares have lost about 8.6% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is RPM International due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers.
RPM International Q3 Earnings & Sales Beat, Both Up Y/YRPM International reported excellent third-quarter fiscal 2026 (ended Feb. 28, 2026) results, with quarterly earnings and net sales topping the Zacks Consensus Estimate and increasing on a year-over-year basis.
The quarterly results were driven by increased demand for engineered solutions for high-performance buildings, contributions from acquisitions and favorable foreign currency translation. Besides, favorable comparisons from last year’s growth, which was affected by harsh weather conditions, also led to year-over-year growth in the financial performance. These tailwinds were somewhat offset by soft DIY demand during the fiscal quarter.
Looking ahead, management expects sales and adjusted EBIT growth in the upcoming quarter even if geopolitical uncertainties add to the costs and complexity of the operating environment. RPM aims at disciplined investments in areas demonstrating strong returns and long-term growth potential, including high-performance buildings, business intelligence and innovation.
Inside RPM International’s HeadlinesThe company’s adjusted earnings per share (EPS) of 57 cents topped the Zacks Consensus Estimate of 37 cents by 54.1%. In the year-ago quarter, RPM reported an adjusted EPS of 35 cents.
Net sales of $1.61 billion also surpassed the consensus mark of $1.55 billion by 3.9% and grew 8.9% year over year. Net sales increased 3% organically during the quarter year over year. Acquisitions and favorable foreign currency translation aided sales by 3.5% and 2.4%, respectively.
Geographically, sales climbed 20.1% in Europe (17% of the fiscal third quarter’s total sales) compared with a year ago, driven by mergers and acquisitions and favorable foreign exchange. North American (74% of total sales) sales increased 6.3% thanks to elevated demand for high-performance building solutions and acquisitions. Sales in Latin America (4% of total sales) were up 6.8% year over year. Moreover, the markets in Africa and the Middle East (2% of total sales) elevated the growth in all emerging markets because of high-performance building and infrastructure projects, along with favorable foreign currency translation. The metric in the Asia Pacific (3% of total sales) also grew 16.1% year over year.
RPM’s Operational DiscussionSelling, general and administrative expenses, as a percentage of net sales, contracted 80 basis points (bps) to 33.2% from 34% reported a year ago. Adjusted EBIT grew 48.8% year over year to $116.4 million. Adjusted EBIT margin expanded 190 bps to 7.2%.
Segmental Details of RPM InternationalConstruction Products Group: In the reported quarter, the segment’s net sales increased 10.5% from a year ago to $546.7 million, owing to 6.9% organic sales growth, a 0.2% contribution from buyouts (net of divestitures) and 3.4% favorable foreign currency translation. Adjusted EBIT of $30.3 million surged 178.8% year over year, and adjusted EBIT margin expanded 330 bps to 5.5%.
Performance Coatings Group: The segment’s net sales grew 8.4% year over year to $496.8 million. Sales were up 5.1% organically, 0.9% driven by acquisitions and 2.4% aided by favorable foreign currency translation. Adjusted EBIT was up 20% on a year-over-year basis to $66.8 million and adjusted EBIT margin increased 130 bps to 13.4%.
Consumer Group: Net sales in the segment increased 7.9% year over year to $564.5 million. Organic sales declined 2.4%, while favorable foreign currency translation aided sales by 1.3%. Also, the acquisition contributed 9% to sales growth. The segment’s adjusted EBIT was up 15% from the prior-year level to $58.5 million and the adjusted EBIT margin expanded 70 bps to 10.4%.
RPM International’s Balance SheetAt the end of the fiscal third quarter, RPM International had a total liquidity of $1.02 billion compared with $969.1 million at the fiscal 2025-end. This includes cash and cash equivalents of $294.2 million compared with $302.1 million at fiscal 2025-end. Long-term debt (excluding current maturities) as of Feb. 28, 2026, was $2.55 billion, down from $2.64 billion at fiscal 2025-end.
As of the first nine months of fiscal 2026, net cash provided by operating activities was $656.7 million, up from $619 million in the year-ago period. RPM also returned $255.3 million to stockholders through $202.8 million of dividends and $52.5 million of share repurchases during the first nine months of fiscal 2026.
RPM Reaffirms Q4 FY2026 OutlookThe company still expects net sales in the fourth quarter of fiscal 2026 to increase in the mid-single-digit range year over year. Also, the adjusted EBIT is projected to be up in low- to high-single-digits compared with the year-ago quarter.
How Have Estimates Been Moving Since Then?Since the earnings release, investors have witnessed a upward trend in estimates revision.
VGM ScoresCurrently, RPM International has a subpar Growth Score of D, however its Momentum Score is doing a bit better with a C. Following the exact same course, the stock was allocated a score of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Notably, RPM International has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
On May 20, 2026, RPM International Inc RPM shares rose 3.7% today, closing at $98.51. This performance stands in contrast to the stock's 52-week range of $92.92 to $129.12, indicating some volatility over the past year.
GF Value™ verdict: RPM is currently priced at $98.51, which is 16.7% below its GF Value™ estimate of $118.27.GF Score™: With a score of 86/100, RPM is rated as a Strong investment opportunity.Most notable signal: RPM has had no insider transactions in the last 3 months, indicating stability in management's confidence in the company's direction. Is RPM Overvalued or Undervalued? RPM's current price of $98.51 is significantly below the GF Value™ estimate of $118.27, suggesting that the stock is undervalued by approximately 16.7%. This gap indicates a potential opportunity for investors seeking to acquire shares at a discount relative to intrinsic value. The GF Valuation label classifies RPM as Modestly Undervalued, which provides a margin of safety for potential investors. However, it is essential to consider that undervaluation does not guarantee immediate price appreciation, and market conditions can affect the timing of any correction toward fair value.
GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. Thus, while RPM exhibits favorable valuation metrics, investors must remain aware of the inherent risks associated with market fluctuations and business performance.
How Does RPM's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 19.0x 23.7x Forward P/E 16.8x N/A The current P/E (TTM) of 19.0x is notably lower than the 5-year median P/E of 23.7x, indicating that RPM is trading below its historical valuation levels. This analysis aligns with the GF Value™ verdict, reinforcing the perspective that RPM may be undervalued relative to its historical performance. The forward P/E of 16.8x further supports the notion that the stock is positioned favorably for potential growth.
What Does RPM's GF Score™ Tell Us? Metric Rating GF Score™ 86 Financial Strength 6/10 Profitability 8/10 Growth 7/10 Valuation 8/10 Momentum 7/10 The GF Score™ of 86/100 suggests that RPM has strong potential for long-term returns, attributed primarily to its solid profitability ranking of 8/10 and valuation rank of 8/10. However, the financial strength score of 6/10 indicates that there are areas for improvement, which may pose risks in terms of stability and resilience during economic downturns. Overall, RPM presents a balanced profile with strengths in profitability and valuation but with room for enhancement in financial strength.
What Are Insiders Doing with RPM Stock? In the past three months, there have been no insider transactions reported for RPM International Inc. This lack of activity may suggest that insiders are confident in the company's future performance and do not currently see a compelling reason to buy or sell shares. Generally, such stability can be interpreted as a positive signal, indicating that management is focused on long-term growth rather than short-term fluctuations.
What This Means for Investors Based on the GF Value™ assessment, RPM International Inc is currently undervalued. While the stock presents a compelling opportunity given its discount to intrinsic value, potential investors should remain cautious about market conditions and the company's ability to maintain its financial strength.
For the complete analysis, visit the RPM International Inc RPM stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.
Frequently Asked Questions What is RPM's GF Score™?
RPM's GF Score™ is 86/100, indicating a strong investment opportunity with the potential for higher long-term returns.
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GRAND FALLS-WINDSOR, Newfoundland and Labrador, May 21, 2026 (GLOBE NEWSWIRE) -- First Atlantic Nickel & Cobalt Corp. (TSXV: FAN | OTCQB: FANCF | FSE: P21) (the "Company" or "First Atlantic") is pleased to announce that electron microprobe analysis conducted by SGS Canada in Lakefield, Ontario, as part of the Company's ongoing metallurgical program, has confirmed the high-grade nickel and cobalt content of the awaruite mineralization (Ni-Fe-Co Alloy) in the RPM Zone at its wholly owned Pipestone XL Project. The awaruite (Ni3Fe) averages 77.62% nickel and 1.69% cobalt, with peak grades of 86.68% nickel and 6.05% cobalt, based on 33 microprobe analyses of a master composite sample comprising 32 individual samples over 96 meters of drill core from AN-24-02 (258 m to 354 m) (the "Master Composite"). The analysis also determined that the source mineral for the chromium previously reported at the RPM Zone is chromite, grading 60.2% Cr₂O₃. Given the high grade of the RPM Zone chromite, the Company is now evaluating potential metallurgical processes to separate, concentrate, and process chromite.
Awaruite (Ni₃Fe) is a naturally occurring, highly magnetic, sulfur-free nickel-iron-cobalt alloy - the product of serpentinization, a geological process in which hydrogen generated from the alteration of ultramafic rock reduces nickel and iron into native metallic form. Its strong magnetism and hydrophobic metallic surface make it ideal for concentration through magnetic separation and flotation. Unlike nickel sulfide or laterite minerals, awaruite requires no smelting, roasting, or acid leaching to reduce the mineral to metal.
The U.S. Geological Survey (“USGS”) acknowledged awaruite’s processing advantage in its 2012 Annual Nickel Report, noting that it is:
“much easier to concentrate than pentlandite, the principal sulfide of nickel.”
Conventional midstream processing for nickel sulfide and laterite mineral sources is capital-intensive, energy-intensive, and increasingly difficult to permit, with limited smelting capacity remaining in North America and growing exposure to sulfuric acid supply chain disruption. The Pipestone XL awaruite discovery has the potential to deliver a large-scale source of nickel and cobalt through onshore, mine-to-metal processing into downstream stainless steel, EV battery, and specialty alloy industries - bypassing midstream processing constraints.
The Company anticipates further updates from its metallurgical program, including the development of a high-grade nickel-cobalt concentrate incorporating magnetic separation and flotation, as well as from the drill program underway at the Alloy Max North and Alloy Max South Zones.
For further information, questions, or investor inquiries, please contact Rob Guzman at First Atlantic by phone at +1-844-592-6337 or via email at [email protected].
KEY HIGHLIGHTS
77.62% Average Nickel Grade in Awaruite: Electron microprobe analysis of composite samples from the RPM Zone confirms that awaruite averages 77.62% nickel, with peak values of up to 86.68%.1.69% Average Cobalt Grade in Awaruite: Cobalt averages 1.69% and reaches up to 6.05%, which is high in relation to other documented awaruite occurrences. Cobalt occurs within the crystal lattice of the awaruite alloy and is concentrated with nickel.Direct-to-Market Nickel-Cobalt Concentrate: Awaruite can be concentrated into a high-grade nickel-cobalt product for either direct feed into the stainless-steel industry or further refining into battery-grade nickel and cobalt for the electric vehicle battery supply chain1, avoiding midstream smelting constraints in North America. The concentrate is a potential feed for planned Canadian and US refineries, and at US facilities could help produce qualifying nickel as defined in Section 45X(c)(6) of the U.S. Advanced Manufacturing Production Credit.260.2% Cr₂O₃ Chromite Grade: Microprobe analysis confirms the chromium at the RPM Zone is hosted in chromite grading 60.2% Cr₂O₃. The Company is now evaluating potential metallurgical processes to separate, concentrate, and process chromite.5.49% Brucite Content: The Master Composite contains an average of 5.49% brucite (Mg(OH)₂), a reactive mineral capable of capturing and mineralizing atmospheric CO₂. Brucite-driven carbon capture has been demonstrated at BHP’s Mount Keith Nickel mine in Western Australia, which contains approximately 2.5% brucite3 and where BHP reports its tailings dam captures approximately 40,000 tonnes of CO₂ from the atmosphere each year.4Drilling Underway at Alloy Max: The drill program is underway at Alloy Max North and Alloy Max South Zones. NICKEL MINERAL DISTRIBUTION ANALYSIS AT RPM ZONE
SGS mineralogical and microprobe analysis of the magnetically recoverable awaruite alloy at the RPM Zone confirms high-grade nickel and cobalt, averaging 77.62% nickel and 1.69% cobalt, with peaks of 86.68% nickel and 6.05% cobalt. Awaruite hosts approximately 77% of the liberated, non-silicate nickel, with a further approximately 13% contained in iron-rich magnetite and just 3.54% of the total liberated nickel remains in heazlewoodite (Ni₃S₂), the most sulfur-poor nickel sulfide mineral, serving as evidence that the reducing conditions of serpentinization have driven sulfur out of the system and converted the nickel into the sulfur-free awaruite alloy.
Figure 1: Image showing zoomed in view of 77% Nickel in awaruite alloy over core image with disseminated nickel-iron cobalt alloy being examined at the Pipestone XL project.
Average Grades (%)*MineralZn (%)Fe (%)Co (%)Ni (%)Cu (%)S (%)As (%)Se (%)Sb (%)Total (%)Awaruite0.0018.761.6977.620.20.010.000.010.0098.3 *Electron microprobe analysis results shown above (Table 1) are average readings from 33 separate tests conducted on the 106 micron and 38 micron size fractions to determine the average metal grades of the main minerals, from the representative master composite material. Awaruite analysis showed an average grade of 77.62% nickel from 33 readings with minimum grade of 71.35% nickel and a maximum grade of 86.68% nickel.
Awaruite mineralization at RPM forms through two concurrent pathways driven by serpentinization – the alteration of olivine-rich ultramafic rock by water. In the primary pathway, olivine reacts with water to form serpentine and magnetite. The magnetite-forming reaction (3“FeO” + H₂O → Fe₃O₄ + H₂) releases hydrogen, creating the strongly reducing environment under which nickel and iron liberated from olivine combine into metallic awaruite. This same reaction accounts for the nickel found in magnetite: as olivine’s iron converts to magnetite, a portion of the nickel is carried with it. The roughly one-third of nickel that remains within unaltered serpentine and olivine is the nickel-bearing precursor from which the awaruite formed, direct evidence of the reaction at work.5
In the secondary pathway, the hydrogen released during magnetite formation destabilizes sulfide minerals. As the environment becomes strongly reducing, pentlandite ((Ni,Fe)₉S₈) is progressively stripped of its sulfur, and the nickel and iron left behind combine into awaruite - visible as awaruite rims replacing residual sulfide grains (Figure 2). This desulfurization mechanism has been independently documented at nanometer-scale resolution in active serpentinization systems worldwide, where pentlandite is progressively dissolved and replaced by awaruite during fluid-rock interaction (Schwarzenbach et al., 2021, Journal of Geophysical Research: Solid Earth). Only 3.54% of all total nickel remains in heazlewoodites is a direct measure of how thoroughly this hydrogen-driven desulfurization has proceeded, and the reason the RPM Zone nickel is near sulfur-free with no acid mine drainage risk.
Figure 2: Awaruite mineral electron image showing desulfurization of primary pentlandite, from the Atlantic Lake Zone at the Pipestone XL Project. Imaged by Mike Piller (2012); credit Memorial University.
Mike Piller, Lead Project Geologist, commented:
"The microprobe analysis of awaruite (Ni₃Fe) at the RPM Zone, returning metal-in-alloy grades of 77.62% nickel and 1.69% cobalt, confirms what the serpentinization model has been pointing to. The mineralogy shows thorough, hydrogen-driven formation, with near-total expulsion of sulfur and meaningful chromium potential alongside the awaruite. I first encountered these same signatures at the Atlantic Lake Zone in 2012, during my undergraduate honours research at Memorial University in Newfoundland. Finding them now at RPM, in ground that had seen minimal prior exploration further south, speaks to the scale of what we are defining and the potential that remains across the 30-kilometer Pipestone Ophiolite Complex."
Figure 3: Total nickel distribution by mineral within the Master Composite from the RPM zone.
Figure 4: Nickel distribution among liberated non-silicate minerals within the Master Composite from the RPM zone.
Figure 5: Nickel distribution between awaruite alloy and sulfide minerals within the Master Composite from the RPM zone.
CONVENTIONAL NICKEL MINERALS AND MIDSTREAM PROCESSING
Conventional nickel sulfide and nickel laterite minerals undergo capital-, energy-, and environmentally intensive midstream processing to break the chemical bonds that bind the nickel to sulfur, hydroxide, magnesium, or silica and convert the mineral into a nickel product that can enter downstream manufacturing EV battery, stainless steel, or specialty alloy production. Table 2 compares these minerals by nickel content, mineral type, the non-metal elements the nickel is bound to, and the midstream process required for each.
Table 2: Nickel-Bearing Minerals and the Cost of Midstream Processing
Awaruite is the only primary nickel mineral already in metallic form, requiring none of the midstream processing, consumables, capital, emissions, permitting, or waste that conventional nickel minerals demand.
MineralNickel in MineralNon-Metal Chemical BondsMIDSTREAM PROCESSING ISSUESConversion ProcessingConsumables ExpensesRelated Capital CostsEnvironmental & PermittingAwaruite
Ni₃Fe
Native Alloy77.62% Ni
(71.35-86.68%)NoneN/AN/AN/AN/APentlandite
(Fe,Ni)₉S₈
Magmatic Sulfide25% Ni6
(22–34%)SulfurPyrometallurgical smeltingSufficient electrical supply• Smelter / roaster
• SO₂ acid plant
• Acid storage, handling, disposal• SO₂ emissions
• Sulfide tailings; acid mine drainage risk
• Air-emission & smelter permittingGoethite
(Fe,Ni)O(OH)
Limonite Laterite3% Ni
(1–5%)OxyhydroxideHigh-pressure acid leaching (HPAL)Sulfuric acid• High-pressure autoclaves
• Acid storage, handling, disposal
• Tailings neutralization• CO₂ emissions
• Large acidic tailings
• Acid-handling & tailings permittingGarnierite
Ni-Mg silicates
Saprolite Laterite20% Ni
(5–30%)Magnesium, silicaRKEF smelting (ferronickel)Sufficient electrical supply• Rotary kiln
• Electric furnace• CO₂ emissions
• Large slag volumes
• Emissions & slag-disposal permitting Nickel content is the grade within the host mineral phase, not bulk ore grade. Awaruite grade from SGS microprobe analysis (range 71.35–86.68% Ni, average 77.62% Ni). Awaruite can be concentrated by magnetic separation and flotation (beneficiation) and doesn’t require the midstream conversion processes listed above. Typical industry characteristics; vary by deposit and operation.
CHART OF AVERAGE NICKEL CONTENT IN NICKEL MINERALS
Figure 6: Average nickel grades contained in primary ore minerals from laterite and sulfide deposits compared with awaruite nickel-iron-cobalt alloy.
AWARUITE – DIRECT FROM MINE TO METAL WITHOUT SMELTING
Awaruite (Ni₃Fe) at the Pipestone XL Project averages 77.62% nickel and is already in metallic alloy form, with no chemical bonds to sulfur, magnesium, or silica. Because awaruite is already a metal, the concentrate does not require smelting, roasting, or acid leaching. Concentration is achieved through magnetic separation followed by flotation – simple, well-established mineral processing methods. The result is a high-grade nickel-cobalt concentrate that can be shipped directly from the mine site to downstream refining or stainless steel production in North America, with no dependency on smelter infrastructure, no sulfuric acid requirements, and no overseas midstream processing.
The last nickel smelter in the continental United States closed at Riddle, Oregon, in 1998, Vale’s Thompson smelter in Manitoba closed in 2018, and only two pyrometallurgical nickel smelters remain in North America. Awaruite’s smelter-free processing pathway addresses these constraints directly.
As stated in the August 2025 report From Rocks to Power from the Battery Metals Association of Canada7:
“Awaruite is not a sulfide nor an oxide nickel ore but a high-content native nickel-iron ore. Simple beneficiation processes after mining could provide 60% Ni concentrate, ready for leaching for battery cathode purposes and would yield MHP as a by-product. This process would bypass pyrometallurgy or early hydrometallurgy stages and be among the lowest carbon-intensive nickel production sites in the global nickel market.”
The Carnegie Endowment for International Peace’s October 2025 report Securing America’s Critical Minerals Supply projects a U.S. nickel deficit of approximately 742,000 tonnes per year by 20358. This projected deficit highlights the strategic importance of awaruite’s smelter-free processing pathway and its potential to address North America’s midstream nickel bottleneck.
Figure 7: USGS quote on awaruite nickel-iron-cobalt alloy.
First Atlantic Nickel & Cobalt Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) is a critical mineral exploration company in Newfoundland & Labrador developing the Pipestone XL Nickel-Cobalt Alloy Project. The project spans the entire 30-kilometer Pipestone Ophiolite Complex, where multiple zones, including RPM, Alloy Max, Super Gulp, Atlantic Lake, and Chrome Pond, contain awaruite (Ni₃Fe), a naturally occurring magnetic nickel-iron-cobalt alloy of approximately ~77% nickel with no sulfur and no sulfides, along with secondary chromium mineralization. Awaruite’s sulfur-free composition removes acid mine drainage (AMD) risks, while its unique magnetic properties enable processing through magnetic separation, eliminating the electricity requirements, emissions, and environmental impacts of conventional smelting, roasting, or high-pressure acid leaching while reducing dependence on overseas nickel processing infrastructure.
The U.S. Geological Survey recognized awaruite’s strategic importance in its 2012 Annual Report on Nickel, noting that these deposits may help alleviate prolonged nickel concentrate shortages since the natural alloy is much easier to concentrate than typical nickel sulfides. The Pipestone XL Nickel-Cobalt Alloy Project is located near existing infrastructure with year-round road access and proximity to hydroelectric power. These features provide favorable logistics for exploration and future development, strengthening First Atlantic’s role to establish a secure and reliable source of North American nickel production for the stainless steel, electric vehicle, aerospace, and defense industries. This mission gained importance when the U.S. added nickel to its critical minerals list in 2022, recognizing it as a non-fuel mineral essential to economic and national security with a supply chain vulnerable to disruption.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Qualified Person
Adrian Smith, P.Geo., a director and the Chief Executive Officer of the Company is a qualified person as defined by NI 43-101. The qualified person is a member in good standing of the Professional Engineers and Geoscientists Newfoundland and Labrador (PEGNL) and is a registered professional geoscientist (P.Geo.). Mr. Smith has reviewed and approved the technical information disclosed herein.
DISCLOSURE
A Master Composite sample from the RPM Zone was prepared by SGS Canada in Lakefield, ON. SGS is an ISO/IEC 17025 accredited laboratory and acted independently from the Company. The Master Composite comprises 32 continuous (96 meters) representative drill core samples from AN24-02 and was subjected to detailed head characterization, including mineralogy, LIMS beneficiation, and flotation testing.
The Master Composite was stage-ground to 100% passing 300 microns and screened from its top size down to 38 microns. Unpulverized material from each of the size fractions was submitted for Tescan Integrated Mineral Analysis (TIMA) and electron microprobe analysis. Electron microprobe analysis results represent average readings from 33 separate tests conducted on the 106 micron and 38 micron size fractions to determine the average metal grades of the main minerals in the representative Master Composite material. Awaruite analysis showed an average grade of 77.62% nickel and 1.69% cobalt from 33 readings, with a minimum grade of 71.35% nickel and 0.41% cobalt and a maximum grade of 86.68% nickel and 6.05% cobalt.
With a total awaruite content of the combined size fractions of 0.16% and an average awaruite nickel content of 77.62%, the total grade of nickel as awaruite is 0.127%, which aligns well with the davis tube recovery (“DTR”) value measured on the Master Composite head sample of 0.120% DTR nickel.
Forward-Looking Statements
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are frequently identified by words such as “expects”, “intends”, “plans”, “anticipates”, “believes”, “may”, “will”, “would”, “could”, “potential”, “proposed”, “target”, “prospective”, “indicates”, “designed to”, “expected to” and similar expressions, or statements that events, conditions or results “will”, “may”, “could”, “would” or “should” occur or be achieved.
This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Forward-looking information in this news release includes, but is not limited to, statements regarding: the results and interpretation of the Company’s metallurgical and mineralogical program at the RPM Zone; the potential recoverability, concentration and processing characteristics of awaruite, chromite and other minerals identified in the Master Composite, the potential to recover a separate chromite concentrate as a co-product; the Company’s planned processing pathway and concentrate-grade targets, the potential development of a high-grade nickel-cobalt concentrate using magnetic separation and flotation; the potential applicability of smelter-free processing, mine-to-metal processing, direct-to-refinery feed, stainless steel production, EV battery chemical refining, and other downstream processing pathways; the potential for awaruite concentrate to qualify as a suitable feed for facilities producing nickel that meets 45X U.S. Advanced Manufacturing Tax Credit criteria; the potential significance of serpentinization, hydrogen generation and related geological processes to awaruite-bearing nickel-cobalt alloy systems; the potential carbon capture or mineralization characteristics associated with brucite-bearing material; the potential for reduced acid mine drainage risk; the Company’s evaluation of North American midstream processing constraints and downstream market opportunities; anticipated updates from the Company’s metallurgical program; the drill program underway at the Alloy Max North and Alloy Max South Zones; and the Company’s future exploration, technical, strategic and development objectives.
Forward-looking information is based on a number of assumptions that management considers reasonable as of the date of this news release, including assumptions regarding: the accuracy of current geological, mineralogical and metallurgical interpretations concerning Pipestone XL and the RPM Zone; the representativeness of the Master Composite and related analytical results; the relevance of serpentinized ultramafic rocks and awaruite-bearing systems to the Company’s exploration and metallurgical model; the ability of magnetic separation, flotation or other processing methods to produce marketable or further refinable concentrates; the Company’s ability to access technical expertise, capital, equipment, personnel and permits required to advance its plans; and the absence of material adverse changes in commodity markets, capital markets, regulatory requirements, environmental conditions, community relations or general economic conditions.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information. These risks and uncertainties include, but are not limited to: the risk that geological, mineralogical or metallurgical interpretations concerning Pipestone XL, the RPM Zone or the Master Composite may prove to be inaccurate; the risk that the Master Composite may not be representative of the RPM Zone or Pipestone XL more broadly; the risk that future exploration, drilling, mineralogical, metallurgical or technical work may not confirm the presence, continuity, grade, scale, recoverability, concentrateability, processing characteristics or economic potential of awaruite nickel-cobalt alloy mineralization, chromite, brucite or other minerals identified to date; the risk that awaruite, chromite, brucite or other minerals may not be recoverable, concentrateable or processable on economic terms; the risk that any concentrate produced may not meet downstream customer, refinery, stainless steel, battery-material, tax-credit or other technical or commercial specifications; the risk that potential smelter-free processing, mine-to-metal processing, direct-to-refinery feed, reduced acid mine drainage, permitting, environmental, market, tax-credit, supply chain or strategic advantages may not be realized; risks relating to the early-stage nature of the Company’s mineral projects; metallurgical, processing, engineering, scale-up and technical risks; risks relating to the availability of financing; permitting, environmental, regulatory, community relations and land access risks; changes in commodity prices, energy markets, capital markets, downstream demand, government incentives, tax-credit eligibility and general economic conditions; reliance on third-party information, published reports and public statements; and the other risks described in the Company’s public disclosure documents available under the Company’s profile on SEDAR+.
The Company is an exploration-stage issuer. Exploration activities are inherently speculative, involve substantial risks and expenditures, and may not result in the discovery or development of mineral deposits that can be economically or commercially mined. The Company has no mineral reserves or mineral resources on any of its properties. There can be no assurance that any mineralization identified by the Company will be advanced to the resource, reserve, development or production stage, or that any future operations would be economically viable.
Accordingly, readers should not place undue reliance on forward-looking statements or forward-looking information. Forward-looking statements and forward-looking information contained in this news release are made as of the date of this news release, and the Company undertakes no obligation to update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
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1 https://fpxnickel.com/blog/2024/09/16/fpx-nickel-commences-scoping-study-to-develop-north-americas-largest-nickel-sulphate-refinery-for-the-ev-battery-market/
2 https://www.law.cornell.edu/uscode/text/26/45X
3 "BHP's Mount Keith Nickel mine in Western Australia, where published research reports approximately 2.5 wt% brucite (Wilson et al., 2014)
4 BHP, “Unlocking the potential of mineral carbonation,” September 2020. Mount Keith brucite content per Wilson et al. (2014), International Journal of Greenhouse Gas Control 25:121–140, and Power et al. (2020).
5 Sleep, N.H., et al. (2004), “H2-rich fluids from serpentinization,” PNAS 101(35):12818–12823; Britten, R., “Regional Metallogeny and Genesis of a New Deposit Type – Disseminated Awaruite (Ni₃Fe) Mineralization Hosted in the Cache Creek Terrane”; Lithosphere (2023).
6 https://fpxnickel.com/projects-overview/what-is-awaruite/
7 Battery Metals Association of Canada, From Rocks to Power: Strategies to Unlock Canada’s Critical Minerals for Global Leadership in Energy Storage, EVs, & Beyond, August 2025.
8 Carnegie Endowment for International Peace, Securing America’s Critical Minerals Supply, October 8, 2025.
