v3.25.2
Business Segment Data
 3 Months Ended
May 31, 2025
Segment Reporting [Abstract]  
Business Segment Data Business Segment Data
We have four operating segments which are also reportable segments. Each of our four segments have distinct economic characteristics, including products and services provided, production processes and varying ranges in performance and results:
•The Architectural Metals Segment designs, engineers, fabricates and finishes aluminum window, curtainwall, storefront and entrance systems used primarily in non-residential construction.
•The Architectural Services Segment integrates technical services, project management, and field installation services to design, engineer, fabricate, and install architectural curtainwall and other façade-related systems primarily in non-residential construction.
•The Architectural Glass Segment cuts, treats, coats and fabricates high-performance glass used in custom window and wall systems primarily for non-residential buildings.
•The Performance Surfaces Segment develops and manufactures high-performance coated materials for a variety of applications, including wall decor, museums, graphic design, digital displays, architectural interiors, and industrial flooring.

The Company’s CEO is the chief operating decision maker (CODM). The CODM utilizes net sales and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) to assess segment performance and make decisions about the allocation of operating and capital resources by analyzing recent results, trends, and variances of each segment in relation to forecasts and historical performance.

Net sales, adjusted cost of sales, adjusted SG&A, other income (expense), depreciation and amortization and the resulting adjusted EBITDA for each of the Company’s four reportable segments are presented below. Segment net sales is defined as net sales for a certain segment and includes revenue related to intersegment transactions. We report net sales intersegment eliminations separately to exclude these sales from our consolidated total. Segment adjusted EBITDA includes intersegment sales transactions and excludes certain corporate costs that are not allocated at a segment level. We report these unallocated corporate costs in Corporate and Other.
Three Months Ended May 31, 2025
(In thousands)
Architectural MetalsArchitectural ServicesArchitectural GlassPerformance SurfacesTotal
Net sales
$128,596 $106,505 $69,271 $42,250 $346,622 
Intersegment net sales
28 — 4,002 — 4,030 
Total segment net sales
128,624 106,505 73,273 42,250 350,652 
Adjusted cost of sales (1)
(97,603)(90,664)(51,759)(28,217)(268,243)
Adjusted SG&A (2)
(25,468)(10,847)(11,309)(9,624)(57,248)
Other expense, net
— — (58)— (58)
Depreciation and amortization
3,813 1,073 3,270 3,550 11,706 
Adjusted EBITDA
$9,366 $6,067 $13,417 $7,959 $36,809 
Three Months Ended June 1, 2024
(In thousands)Architectural MetalsArchitectural ServicesArchitectural GlassPerformance SurfacesTotal
Net sales
$133,109 $99,027 $78,176 $21,204 $331,516 
Intersegment net sales
63 — 8,527 — 8,590 
Total segment net sales
133,172 99,027 86,703 21,204 340,106 
Adjusted cost of sales (1)
(88,552)(81,852)(58,288)(12,485)(241,177)
Adjusted SG&A (2)
(25,287)(11,552)(11,324)(3,873)(52,036)
Other income (expense), net
— — 130 — 130 
Depreciation and amortization
4,507 950 3,010 796 9,263 
Adjusted EBITDA
$23,840 $6,573 $20,231 $5,642 $56,286 
(1)
Adjusted cost of sales excludes $7.0 million of adjustments related to acquisition and restructuring expense and $0.6 million of adjustments related to restructuring expense as described in more detail within the reconciliation presented below, for the three months ended May 31, 2025 and June 1, 2024, respectively.
(2)
Adjusted SG&A expenses excludes $6.0 million of adjustments related to acquisition and restructuring expense and $0.4 million of adjustments related to restructuring expense as described in more detail within the reconciliation presented below, for the three months ended May 31, 2025 and June 1, 2024, respectively.

The following table presents the reconciliation of adjusted EBITDA to net (loss) earnings, the nearest measurement under U.S. GAAP:
Three Months Ended
(In thousands)May 31, 2025June 1, 2024
Segment Adjusted EBITDA$36,809 $56,286 
Corporate and Other Expenses(5,129)(3,481)
Segment acquisition-related costs (1)
(277)— 
Segment restructuring costs (2)
(12,718)(998)
Depreciation and amortization(12,436)(10,283)
Interest expense, net(3,846)(450)
Income tax expense(5,091)(10,063)
Net (loss) earnings$(2,688)$31,011 

(1)
Acquisition-related costs include costs related to one-time expenses incurred to integrate the UW Solutions acquisition.
(2)
Segment restructuring charges related to Project Fortify.