v3.25.4
Segment Information
 3 Months Ended
Jan. 31, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
In our Annual Report on Form 10-K as of October 31, 2024 and our Quarterly Reports on Form 10-Q as of January 31, 2025 and April 30, 2025, respectively, we presented four reportable business segments in accordance with ASC Topic 280-10-50, “Segment Reporting” (ASC 280): (1) NA Fenestration, comprising four operating segments primarily focused on the fenestration market in North America including vinyl profiles, insulating glass spacers, screens, custom compound mixing, and other fenestration components; (2) EU Fenestration, comprising our U.K.-based vinyl extrusion business, manufacturing vinyl profiles and conservatories, and the European insulating glass business manufacturing insulating glass spacers; (3) NA Cabinet Components, comprising our cabinet door and components segment; and (4) Tyman, which was acquired on August 1, 2024, comprising a leading international supplier of engineered fenestration components and access solutions to the construction industry.
During the third quarter of 2025, we restructured our reportable segments due to changes in our organizational structure and how our CODM makes key operating decisions, allocates resources and assesses the performance of our business. As a result, we now report in three reportable segments: Hardware Solutions, which provides window and door hardware and screens; Extruded Solutions, which supplies insulating glass spacers, vinyl window and door profiles, seals, and weatherstripping; and Custom Solutions, which provides wood, mixing, and building access solutions. We continue to maintain a grouping called Unallocated Corporate & Other, which includes transaction expenses, stock-based compensation, long-term incentive awards based on the performance of our common stock and other factors, certain severance and legal costs not deemed to be allocable to all segments, depreciation of corporate assets, interest expense, other, net, income taxes, inter-segment eliminations, and executive incentive compensation and medical expense fluctuations relative to planned costs as determined during annual planning process. Other general and administrative costs associated with the corporate office are allocated to the reportable segments, based upon each segment’s relative operating activity. The accounting policies of our operating segments are the same as those used to prepare the accompanying condensed consolidated financial statements. Corporate general and administrative expenses allocated during the three month period ended January 31, 2026 was $12.1 million and $7.9 million for the comparable prior year period.
ASC Topic 280-10-50, “Segment Reporting” (ASC 280) permits aggregation of operating segments based on factors including, but not limited to: (1) similar nature of products serving the building products industry, primarily the fenestration business; (2) similar production processes, although there are some differences in the amount of automation amongst operating plants; (3) similar types or classes of customers, namely the primary OEMs; (4) similar distribution methods for product delivery, although the extent of the use of third-party distributors will vary amongst the businesses; (5) similar regulatory environment; and (6) converging long-term economic similarities.
Our CODM, the President and Chief Executive Officer, reviews several measures of segment profitability to assess performance and allocate resources. Segment operating income (loss) is the measure of segment profit or loss that is most consistent with GAAP and is used by the CODM to evaluate segment results, allocate resources, and monitor performance against the annual budget and forecasts. The CODM considers forecast-to-actual variances on a monthly basis using this measure for each segment when making decisions about allocating capital and personnel. In addition, the CODM uses this measure, along with net sales, to compare segment performance and in the compensation of certain employees.
The Company does not present segment asset information as such information is not provided to the CODM and accordingly, asset information is not used in assessing segment performance.
Selected segment information for the three months ended January 31, 2026 and 2025 was as follows (in thousands):
Hardware SolutionsExtruded SolutionsCustom SolutionsUnallocated Corp. & OtherTotal
Three Months Ended January 31, 2026
Net sales$189,112 $139,800 $89,142 $(8,965)$409,089 
Cost of sales (excluding depreciation and amortization)150,724 97,709 71,424 (9,295)310,562 
Selling, general and administrative34,180 21,141 13,150 2,955 71,426 
Depreciation and amortization11,547 7,339 5,222 141 24,249 
Operating (loss) income$(7,339)$13,611 $(654)$(2,766)$2,852 
Capital expenditures$5,610 $3,998 $1,633 $53 $11,294 
Three Months Ended January 31, 2025
Net sales$184,740 $139,630 $85,038 $(9,364)$400,044 
Cost of sales (excluding depreciation and amortization)150,785 97,680 68,298 (9,035)307,728 
Selling, general and administrative33,357 18,508 11,598 3,187 66,650 
Restructuring charges6,119 — — 1,785 7,904 
Depreciation and amortization11,470 7,640 5,540 90 24,740 
Operating (loss) income $(16,991)$15,802 $(398)$(5,391)$(6,978)
Capital expenditures$4,403 $4,919 $1,474 $828 $11,624 
The following tables reconcile our segment presentation, as previously reported in our Quarterly Report on Form 10-Q for the three months ended January 31, 2025, to the current presentation (in thousands):
NA FenestrationEU FenestrationNA Cabinet Components
Tyman
Unallocated Corp. & OtherTotal
Three Months Ended January 31, 2025
Net sales$134,333 $48,471 $43,810 $175,676 $(2,246)$400,044 
Cost of sales (excluding depreciation and amortization)106,567 30,638 39,415 132,796 (1,688)307,728 
Selling, general and administrative16,133 7,920 5,268 34,378 2,951 66,650 
Restructuring charges— — — 7,904 — 7,904 
Depreciation and amortization4,779 2,610 3,009 14,263 79 24,740 
Operating income (loss)$6,854 $7,303 $(3,882)$(13,665)$(3,588)$(6,978)
Capital expenditures$5,651 $602 $417 $4,088 $866 $11,624 
Hardware Solutions(1)
Extruded Solutions(2)
Custom Solutions(3)
Unallocated Corp. & OtherTotal
Three Months Ended January 31, 2025
Net sales$184,740 $139,630 $85,038 $(9,364)$400,044 
Cost of sales (excluding depreciation and amortization)150,785 97,680 68,298 (9,035)307,728 
Selling, general and administrative33,357 18,508 11,598 3,187 66,650 
Restructuring charges6,119 — — 1,785 7,904 
Depreciation and amortization11,470 7,640 5,540 90 24,740 
Operating (loss) income
$(16,991)$15,802 $(398)$(5,391)$(6,978)
Capital expenditures$4,403 $4,919 $1,474 $828 $11,624 
(1) The Hardware Solutions segment contains a portion of the previously reported NA Fenestration segment.
(2) The Extruded Solutions segment contains a portion of the NA Fenestration segment and the EU Fenestration segment.
(3) The Custom Solutions segment contains a portion of the NA Fenestration segment and the NA Cabinet Components segment.
The following table summarizes the change in the carrying amount of goodwill by reportable business segment for the three months ended January 31, 2026 (in thousands):
Hardware SolutionsExtruded SolutionsCustom SolutionsUnallocated Corp. & OtherTotal
Balance as of October 31, 2025$14,601 $180,933 $75,812 $— $271,346 
Foreign currency translation adjustment392 3,384 346 — 4,122 
Balance as of January 31, 2026$14,993 $184,317 $76,158 $— $275,468 
We did not allocate non-operating expense or income tax expense to the reportable segments. The following table reconciles operating income (loss) as reported above to net income for the three months ended January 31, 2026 and 2025 (in thousands):
Three Months Ended
January 31,
20262025
Operating income (loss)
$2,852 $(6,978)
Interest expense(12,367)(14,186)
Other, net5,617 1,229 
Income tax (expense) benefit
(173)5,050 
Net loss
$(4,071)$(14,885)