v3.26.1
Segment Information
 3 Months Ended
Mar. 28, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
We report our segment information in the same way management internally organizes the business to assess performance and make decisions regarding the allocation of resources in accordance with ASC 280-10 - Segment Reporting. Management, inclusive of the CODM, reviews net revenues and Adjusted EBITDA to evaluate segment performance and allocate resources. We define Adjusted EBITDA as income (loss), net of tax, adjusted for the following items: income tax expense (benefit); depreciation and amortization; interest expense (income), net; and certain special items consisting of non-recurring net legal and professional expenses and settlements; goodwill impairment; restructuring and asset-related charges, net; M&A related costs, net; net gain on sale of business, property and equipment; loss on extinguishment and refinancing of debt; share-based compensation expense; and other special items. We use Adjusted EBITDA because we believe this measure assists investors and analysts in comparing our operating performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. For each of our segments, our CODM uses Adjusted EBITDA to measure operational performance by comparing historical, actual and forecasted amounts on a regular basis, and to allocate resources in the annual budget and forecasting process. Adjusted EBITDA is also a significant performance measure in our annual incentive compensation.
We have two reportable segments, organized and managed principally in geographic regions: North America and Europe. We report all other business activities in Corporate and unallocated costs. The Company’s two reportable segments are defined as follows:
North America – Within our North America segment, the Company supplies windows and doors for residential and commercial markets, serving both new construction and repair & remodel projects. These products reach builders, repair and replacement contractors, architects, and homebuilders through direct and indirect channels, including dealer and distribution networks.
Europe – Within our Europe segment, the Company manufactures and supplies to retailers, merchants, housebuilders and construction companies’ interior doors, doorsets and door kits, in wood and steel, with both standard and high-performance features.
Factors considered in determining the two reportable segments include the nature of business activities, the management structure accountable directly to the CODM, the discrete financial information regularly provided to the CODM, and information presented to the Board of Directors and investors. The CODM is the CEO. No operating segments have been aggregated for our presentation of reportable segments.
Three Months Ended March 28, 2026
(amounts in thousands)North
America 		EuropeTotal
Revenues from external customers$452,713 $269,412 $722,125 
Intersegment net revenues— — — 
Total segment net revenues$452,713 $269,412 $722,125 
Reconciliation of Revenue
Elimination of intersegment net revenues— 
Total consolidated net revenues$722,125 
Less:
Adjusted cost of sales$408,712 $217,256 $625,968 
Adjusted selling, general and administrative58,964 52,196 111,160 
Other segment items(1)
(18,582)(7,116)(25,698)
Adjusted EBITDA$3,619 $7,076 $10,695 
Total Reportable Segment Adjusted EBITDA$10,695 
Less:
Depreciation and amortization29,370 
Interest expense, net17,203 
Corporate and unallocated costs4,554 
Special items:
Net legal and professional expenses and settlements12,767 
Restructuring and asset-related charges, net1,979 
M&A related costs, net7,599 
Share-based compensation expense3,682 
Other special items(2)
7,009 
Loss, before tax$(73,468)
(1)Other segment items included depreciation and amortization, which are included as a component of the significant expense categories regularly provided to the CODM above but are not included in the measure of segment profit, as well as other items, which are excluded from the categories regularly provided to the CODM, which primarily included:
North America - Foreign currency losses.
Europe - Foreign currency losses and pension expense.
(2)Other special items not core to ongoing business activity included an impairment of $3.1 million in our North America reporting unit as a result of reviews performed in connection with our North America equipment capacity optimization.
Three Months Ended March 28, 2026
(amounts in thousands)North
America 		EuropeCorporate
and
Unallocated
Costs		Total
Consolidated
Depreciation and amortization
$18,829 $8,384 $2,157 $29,370 
Capital expenditures15,317 9,824 937 26,078 
Segment assets
1,263,792 683,981 129,495 2,077,268 
Three Months Ended March 29, 2025
(amounts in thousands)North
America 		EuropeTotal
Revenues from external customers$530,561 $245,445 $776,006 
Intersegment net revenues33 489 522 
Total segment net revenues$530,594 $245,934 $776,528 
Reconciliation of Revenue
Elimination of intersegment net revenues(522)
Total consolidated net revenues$776,006 
Less:
Adjusted cost of sales$465,648 $197,854 $663,502 
Adjusted selling, general and administrative69,499 44,261 113,760 
Other segment items(1)
(20,110)(7,327)(27,437)
Adjusted EBITDA$15,524 $10,657 $26,181 
Total Reportable Segment Adjusted EBITDA$26,181 
Less:
Depreciation and amortization27,295 
Interest expense, net14,918 
Corporate and unallocated costs4,312 
Special items:
Net legal and professional expenses and settlements11,882 
Goodwill impairment137,721 
Restructuring and asset-related charges, net14,546 
M&A related costs, net(613)
Net gain on sale of business, property, and equipment(653)
Loss on extinguishment and refinancing of debt237 
Share-based compensation expense3,228 
Other special items2,828 
Loss, before tax$(189,520)
(1)Other segment items included depreciation and amortization, which are included as a component of the significant expense categories regularly provided to the CODM above but are not included in the measure of segment profit, as well as other items, which are excluded from the categories regularly provided to the CODM, which primarily included:
North America - Refund of deposits for antidumping and countervailing duties on wood mouldings and millwork products purchased from China from 2022 to 2023.
Europe - Pension expense and foreign currency losses.
Three Months Ended March 29, 2025
(amounts in thousands)North
America 		EuropeCorporate
and
Unallocated
Costs		Total
Consolidated
Depreciation and amortization
$17,325 $7,565 $2,405 $27,295 
Capital expenditures27,736 10,290 3,928 41,954 
Segment assets
1,349,336 774,988 294,591 2,418,915