v3.26.1
Segment Reporting
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Reporting SEGMENT REPORTING

    The Company has two reportable segments, the OEM Segment and the Aftermarket Segment. Intersegment sales are insignificant.
The OEM Segment, which accounted for 78 percent and 79 percent of consolidated net sales for the three months ended March 31, 2026 and 2025, respectively, manufactures and distributes a broad array of highly engineered components for the leading OEMs in the recreation and transportation markets, consisting of RVs and adjacent industries, including boats; buses; trailers used to haul boats, livestock, equipment, and other cargo; trucks; trains; manufactured homes; and modular housing. Approximately 52 percent of the Company's OEM Segment net sales for the three months ended March 31, 2026 were of components for travel trailer and fifth-wheel RVs.

The Aftermarket Segment, which accounted for 22 percent and 21 percent of consolidated net sales for the three months ended March 31, 2026 and 2025, respectively, supplies engineered components to the related aftermarket channels of the recreation and transportation markets, primarily to retail dealers, wholesale distributors, and service centers, as well as direct-to-consumer sales through online platforms. The Aftermarket Segment also includes biminis, covers, buoys, and fenders to the marine industry, towing products, truck accessories, appliances, air conditioners, televisions, sound systems, tankless water heaters, and the sale of replacement glass and awnings to fulfill insurance claims.

The Company's chief operating decision maker ("CODM") is its President and Chief Executive Officer. The decisions concerning the allocation of the Company's resources are made by the CODM with oversight by the Board of Directors. The CODM evaluates the performance of each segment and makes decisions concerning the allocation of resources based upon segment operating profit, generally defined as income before interest expense and income taxes. Segment assets are not reviewed by the CODM and therefore are not disclosed below. Management of debt is a corporate function. The accounting policies of the OEM and Aftermarket Segments are the same as those described in Note 2 of the Notes to Consolidated Financial Statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2025.

The following tables present the Company's revenues disaggregated by segment and geography based on the billing address of the Company's customers:
Three Months Ended March 31, 2026Three Months Ended March 31, 2025
(In thousands)
U.S. (a)
Int’l (b)
Total
U.S. (a)
Int’l (b)
Total
OEM Segment:
RV OEMs:
Travel trailers and fifth-wheels$437,335 $4,671 $442,006 $466,353 $4,841 $471,194 
Motorhomes40,769 27,069 67,838 36,189 23,419 59,608 
Adjacent Industries OEMs293,271 49,699 342,970 245,531 47,222 292,753 
Total OEM Segment net sales771,375 81,439 852,814 748,073 75,482 823,555 
Aftermarket Segment:
Total Aftermarket Segment net sales215,432 22,271 237,703 199,723 22,312 222,035 
Total net sales$986,807 $103,710 $1,090,517 $947,796 $97,794 $1,045,590 
(a) Net sales to customers in the United States of America
(b) Net sales to customers domiciled in countries outside of the United States of America
Corporate expenses are allocated between the segments based upon net sales. Accretion related to contingent consideration and other non-segment items are included in the segment to which they relate. Information relating to segments follows:

Three Months Ended March 31, 2026Three Months Ended March 31, 2025
(In thousands)
OEM
Aftermarket
Total
OEM
Aftermarket
Total
Net sales to external customers
$852,814 $237,703 $1,090,517 $823,555 $222,035 $1,045,590 
Cost of sales658,389 158,463 816,852 646,480 147,361 793,841 
Gross profit194,425 79,240 273,665 177,075 74,674 251,749 
Selling, general and administrative expenses117,921 60,585 178,506 115,102 55,330 170,432 
Operating profit$76,504 $18,655 $95,159 $61,973 $19,344 $81,317 

The following table presents the Company's revenue disaggregated by product:    
Three Months Ended 
March 31,
(In thousands)20262025
OEM Segment:
Chassis, chassis parts, and slide-out mechanisms$237,961 $242,920 
Windows and doors235,559 229,521 
Furniture and mattresses136,757 113,180 
Axles, ABS, and suspension solutions83,916 88,610 
Appliances79,407 77,650 
Other79,214 71,674 
Total OEM Segment net sales852,814 823,555 
Total Aftermarket Segment net sales237,703 222,035 
Total net sales$1,090,517 $1,045,590