RPM International Inc.

Good day, and welcome to the RPM International Fiscal 2026 First Quarter Earnings Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on a touch-tone phone. To withdraw your question, please press star then two. Please note, this event is being recorded. I would now like to turn the conference over to Matt Schlarb, Vice President of Investor Relations and Sustainability. Please go ahead.

Thank you, Chloe, and welcome to RPM International's conference call for the fiscal 2026 first quarter. Today's call is being recorded. Joining today's call are Frank Sullivan, RPM's Chair and CEO, Rusty Gordon, Vice President and Chief Financial Officer, and Michael LaRoche, Vice President, Controller, and Chief Accounting Officer. This call is also being webcast and can be accessed live or replayed on the RPM website at www.rpminc.com. Comments made on this call may include forward-looking statements based on current expectations that involve risks and uncertainties, which could cause actual results to be materially different. For more information on these risks and uncertainties, please review RPM's reports filed with the SEC. During this conference call, references may be made to non-GAAP financial measures. To assist you in understanding these non-GAAP terms, RPM has posted reconciliations to the most directly comparable GAAP financial measures on the RPM website. Also, please note that our comments will be on an as-adjusted basis, and all comparisons are to the first quarter of fiscal 2025, unless otherwise indicated. We have provided a supplemental slide presentation to support our comments on this call, and it can be accessed in the presentations and webcast section of the RPM website. As a reminder, certain businesses that were previously part of the specialty products group have been reallocated to other segments effective June 1st, 2025. As a result, all references today reflect the updated structure and prior year figures have been recast accordingly. This change has no impact on consolidated results. With that, I would like to turn the call over to Frank.

Thank you, Matt, and good morning. I'll start the call with a high-level overview of our first quarter results followed by Mike LaRoche who will cover the financials in more detail. Matt will then provide an update on cash flow in the balance sheet and provide some details on our industrial coatings group. Rusty Gordon will then conclude our prepared remarks with our outlook for the second quarter and fiscal year 2026. As always, we'll be happy to answer your questions after our prepared remarks. Looking at slide three, The pivot to growth I discussed over the last few quarters was on a full display with organic revenue growth complemented by the successful integration of strategic acquisitions. All segments achieved record quarterly sales and generated 6% growth or better in what continues to be a challenging macro environment. All three segments increased adjusted EBIT to achieve another record quarter for RPM thanks to the sales growth and MAP 2025 benefits, which offset several other profitability headwinds. The first quarter represents the 14th time in the last 15 quarters where we have achieved record adjusted EBIT. This is a credit to our associates who are focused on realizing the power of RPM by leveraging our entrepreneurial spirit to grow sales while continuing to work to find new ways to operate more efficiently. Next on slide four are examples of the key factors that allowed us to achieve record results in the first quarter, despite the challenging demand backdrop. These include turnkey offerings in roofing and flooring, where we both supply and apply the product, a competitive advantage in a labor-constrained construction market. Customer-focused new product introductions, strategic M&A in core categories, as well as the new adjacent categories engineered solutions that meet and exceed the demanding specifications of building projects in areas such as infrastructure, data centers, schools, hospitals, and pharmaceutical manufacturing, system selling that offers comprehensive solutions for all six sides of the building envelope, a focus on repair and maintenance, which offers a compelling value proposition and where demand is less volatile than new construction, hiring additional sales and sales support staff across our construction products group and performance coding group segments in contrast with many of our competitors, and continuously implementing efficiency initiatives built on the legacy of our MAP2Growth and MAP 2025 achievements. These include the consolidation of six facilities currently in process. Over the last six to nine months, we have been talking about a pivot to growth in a frustratingly no growth environment. To make a pivot to growth, we recognize that we would have to do some things differently. Today, we are doing many things differently, while most of our competitors are responding to the no growth environment by cutting costs, reducing headcount, and suspending benefits. We are expanding sales associates and support staff $5.3 million in additional spending in Q1 over the prior year of new employees in this area. We are increasing advertising, especially in our continuing to be challenged consumer business with year over year advertising up $3.2 million. And we are rebuilding our M&A pipeline with $2.1 million of higher acquisition related costs in Q1 while we are maintaining all of our benefit programs, including our 401 match, which is roughly the equivalent of $0.06 per share per quarter. These growth investments are having the desired outcome with unit volume growth in our construction products group up 4%, despite negative construction market dynamics, and unit volume growth up 8% in our performance coatings group, pretty remarkable in any environment. These self-help measures have been drivers of our recent results and remain critical elements of our coming success. And I'll turn the call over to Mike LaRoche to cover the financials in more detail. Thank you, Frank.