v3.26.1
Operating segments
 6 Months Ended
Apr. 30, 2026
Segment Reporting [Abstract]  
Operating segments
Operating segments
We conduct business in three primary operating segments: 
Industrial Precision Solutions: This segment focuses on delivering proprietary dispensing and processing technology, both standard and highly customized equipment, to diverse end markets. Product lines commonly reduce material consumption, increase line efficiency through precision dispensing and enhance product brand and appearance. Components are used for dispensing adhesives, coatings, paint, finishes, sealants and other materials. This segment primarily serves the industrial, agricultural, consumer durables and non-durables markets.
Medical and Fluid Solutions: This segment includes the Company’s fluid management solutions for medical, high-tech industrial and other diverse end markets. Related plastic tubing, balloons, catheters, syringes, cartridges, tips and fluid connection components are used to dispense or control fluids within customers’ medical devices or products, as well as production processes.
Advanced Technology Solutions: This segment focuses on products serving electronics and consumer non-durable end markets. Advanced Technology Solutions products integrate our proprietary product technologies found in progressive stages of an electronics customer’s production and measurement and control processes, such as surface treatment, precisely controlled dispensing of material and test and inspection to ensure quality and reliability. Applications include, but are not limited to, semiconductors, printed circuit boards, electronic components and automotive electronics, in-line measurement sensors, gauges and analyzers.
The composition of segments and measure of segment profitability is consistent with that used by our chief operating decision maker ("CODM"), our President and Chief Executive Officer. The primary measure used by our CODM for purposes of making decisions about allocating resources to the segments and assessing performance is segment EBITDA, which equals sales less adjusted cost of sales and adjusted selling and administrative expenses plus depreciation. Cost of sales and selling and administrative expenses are adjusted for certain special items such as non-recurring cost reduction activities and acquisition related costs, including intangible asset amortization. The CODM uses segment EBITDA in the annual budgeting and forecasting processes and regularly evaluates segment EBITDA results versus budget, forecast and prior year when making allocation of capital, financial and employee resource decisions.
The accounting policies of the segments are the same as those described in our Significant accounting policies Note. There are no intersegment sales. Certain expenses are maintained at the corporate level and not allocated to the segments. These expenses include executive compensation, charitable donations, corporate facilities, and other items that are of a corporate or functional governance nature. Interest expense-net and Other income (expense) - net are excluded from the measure of segment profitability reviewed by our CODM and are not presented by operating segment.
The following table presents information about our reportable segments as further reconciled to consolidated GAAP financial results:
Three Months EndedSix Months Ended
April 30, 2026April 30, 2025April 30, 2026April 30, 2025
Sales
Industrial Precision Solutions$350,466 $318,847 $677,327 $619,295 
Medical and Fluid Solutions212,850 202,809 406,033 396,418 
Advanced Technology Solutions177,531 161,282 326,948 282,645 
Total segment sales740,847 682,938 1,410,308 1,298,358 
Adjusted cost of sales
Industrial Precision Solutions(142,315)(127,720)(277,070)(240,867)
Medical and Fluid Solutions(108,167)(101,362)(204,722)(204,731)
Advanced Technology Solutions(85,153)(76,456)(157,182)(131,315)
Total segment adjusted cost of sales(335,635)(305,538)(638,974)(576,913)
Adjusted selling and administrative expenses
Industrial Precision Solutions(90,580)(83,174)(178,330)(163,343)
Medical and Fluid Solutions(33,323)(33,581)(67,585)(68,193)
Advanced Technology Solutions(45,551)(46,997)(91,926)(92,314)
Total segment adjusted selling and administrative expenses(169,454)(163,752)(337,841)(323,850)
Depreciation
Industrial Precision Solutions6,007 5,595 11,962 11,239 
Medical and Fluid Solutions7,833 8,672 15,673 17,376 
Advanced Technology Solutions1,500 1,687 3,087 3,271 
Total segment depreciation15,340 15,954 30,722 31,886 
EBITDA
Industrial Precision Solutions123,578 113,548 233,889 226,324 
Medical and Fluid Solutions79,193 76,538 149,399 140,870 
Advanced Technology Solutions48,327 39,516 80,927 62,287 
Total segment EBITDA251,098 229,602 464,215 429,481 
Inventory step-up amortization(1,135)— (1,135)(3,135)
Acquisition related costs(534)(513)(534)(1,543)
Severance and other— (10,313)— (16,274)
Depreciation and amortization(36,315)(37,578)(72,900)(74,608)
Corporate expenses(15,911)(12,448)(26,038)(24,224)
Interest expense(21,942)(26,572)(45,073)(53,131)
Interest and investment income362 553 752 1,494 
Pension settlement charge(24,049)— (24,049)— 
Other - net(10,400)(3,961)10,437 (2,435)
Income before taxes$141,174 $138,770 $305,675 $255,625 
The following table presents additional information about our reportable segments:
Industrial Precision SolutionsMedical and Fluid SolutionsAdvanced Technology SolutionsCorporateTotal
Three months ended April 30, 2026
Amortization of intangibles$7,552 $9,533 $2,321 $— $19,406 
Property, plant and equipment expenditures2,467 5,479 2,234 — 10,180 
Three months ended April 30, 2025
Amortization of intangibles$7,019 $9,695 $2,983 $— $19,697 
Property, plant and equipment expenditures4,054 2,269 7,851 1,865 16,039 
Six months ended April 30, 2026
Amortization of intangibles15,072 19,204 4,699 — 38,975 
Property, plant and equipment expenditures5,732 10,804 11,002 155 27,693 
Six months ended April 30, 2025
Amortization of intangibles13,828 19,132 6,047 — 39,007 
Property, plant and equipment expenditures13,583 17,181 4,393 2,282 37,439 
As of April 30, 2026
Identifiable assets (1)
1,898,264 2,191,580 772,837 1,101,737 5,964,418 
As of October 31, 2025
Identifiable assets (1)
1,858,974 2,201,528 738,762 1,118,417 5,917,681 
(1) Operating segment identifiable assets include notes and accounts receivable net of allowance for doubtful accounts, inventories net of reserves, property, plant and equipment net of accumulated depreciation and goodwill. Corporate assets are principally cash and cash equivalents, deferred income taxes, leases, headquarter facilities and intangible assets.
We had significant net sales, measured based on their geographic destination, as follows:
Three Months EndedSix Months Ended
April 30, 2026April 30, 2025April 30, 2026April 30, 2025
Net external sales
Americas$308,253 $292,463 $570,183 $560,300 
Europe194,459 172,496 376,920 340,259 
Asia Pacific238,135 217,979 463,205 397,799 
Total net external sales740,847 682,938 1,410,308 1,298,358