v3.26.1
Segment Information
 6 Months Ended
Apr. 30, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
Prior to the third quarter of 2025, 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, based on the nature of products offered: 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 our 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 and six month periods ended April 30, 2026 was $12.6 million and $24.7 million, respectively, and $10.0 million and $17.9 million for the comparable prior year periods.
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 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 and six months ended April 30, 2026 and 2025 was as follows (in thousands):
Hardware SolutionsExtruded SolutionsCustom SolutionsUnallocated Corp. & OtherTotal
Three Months Ended April 30, 2026
Net sales$203,019 $164,949 $103,913 $(9,514)462,367 
Cost of sales (excluding depreciation and amortization)162,392 112,881 79,017 (9,715)344,575 
Selling, general and administrative35,763 21,664 13,889 3,116 74,432 
Depreciation and amortization11,693 7,341 5,404 212 24,650 
Operating (loss) income$(6,829)$23,063 $5,603 $(3,127)$18,710 
Capital expenditures$6,183 $1,987 $2,852 $6 $11,028 
Three Months Ended April 30, 2025
Net sales$202,935 $163,967 $97,507 $(11,931)$452,478 
Cost of sales (excluding depreciation and amortization)145,533 111,637 73,702 (9,776)321,096 
Selling, general and administrative32,259 21,673 10,850 5,551 70,333 
Restructuring charges896 — — 40 936 
Depreciation and amortization10,361 7,437 5,437 (4,043)19,192 
Operating income (loss)$13,886 $23,220 $7,518 $(3,703)$40,921 
Capital expenditures$5,893 $5,104 $2,787 $1,136 $14,920 
Six Months Ended April 30, 2026
Net sales$392,131 $304,749 $193,055 $(18,479)$871,456 
Cost of sales (excluding depreciation and amortization)313,116 210,590 150,441 (19,010)655,137 
Selling, general and administrative69,943 42,805 27,039 6,071 145,858 
Depreciation and amortization23,240 14,680 10,626 353 48,899 
Operating (loss) income$(14,168)$36,674 $4,949 $(5,893)$21,562 
Capital expenditures$11,793 $5,985 $4,485 $59 $22,322 
Six Months Ended April 30, 2025
Net sales$387,675 $303,597 $182,545 $(21,295)$852,522 
Cost of sales (excluding depreciation and amortization)296,318 209,317 142,000 (18,811)628,824 
Selling, general and administrative65,616 40,181 22,448 8,738 136,983 
Restructuring charges7,015 — — 1,825 8,840 
Depreciation and amortization21,831 15,077 10,977 (3,953)43,932 
Operating (loss) income $(3,105)$39,022 $7,120 $(9,094)$33,943 
Capital expenditures$10,296 $10,023 $4,261 $1,964 $26,544 
The following tables reconcile our segment presentation, as previously reported in our Quarterly Report on Form 10-Q for the three months ended April 30, 2025, to the current presentation (in thousands):
NA FenestrationEU FenestrationNA Cabinet Components
Tyman
Unallocated Corp. & OtherTotal
Three Months Ended April 30, 2025
Net sales$151,026 $61,257 $51,237 $190,107 $(1,149)$452,478 
Cost of sales (excluding depreciation and amortization)113,760 39,001 42,405 126,743 (813)321,096 
Selling, general and administrative15,938 9,038 5,725 37,271 2,361 70,333 
Restructuring charges— — — 936 — 936 
Depreciation and amortization4,667 2,659 3,015 8,775 76 19,192 
Operating income (loss)$16,661 $10,559 $92 $16,382 $(2,773)$40,921 
Capital expenditures$6,489 $727 $1,239 5,368 $1,097 $14,920 
Hardware Solutions(1)
Extruded Solutions(2)
Custom Solutions(3)
Unallocated Corp. & OtherTotal
Three Months Ended April 30, 2025
Net sales$202,935 $163,967 $97,507 $(11,931)$452,478 
Cost of sales (excluding depreciation and amortization)145,533 111,637 73,702 (9,776)321,096 
Selling, general and administrative32,259 21,673 10,850 5,551 70,333 
Restructuring charges896 — — 40 936 
Depreciation and amortization10,361 7,437 5,437 (4,043)19,192 
Operating income (loss)$13,886 $23,220 $7,518 $(3,703)$40,921 
Capital expenditures$5,893 $5,104 $2,787 $1,136 $14,920 
NA FenestrationEU FenestrationNA Cabinet ComponentsTymanUnallocated Corp. & OtherTotal
Six Months Ended April 30, 2025
Net sales$285,359 $109,728 $95,047 $365,783 $(3,395)$852,522 
Cost of sales (excluding depreciation and amortization)220,327 69,638 81,821 259,539 (2,501)628,824 
Selling, general and administrative32,071 16,959 10,992 71,649 5,312 136,983 
Restructuring charges— — — 8,840 — 8,840 
Depreciation and amortization9,446 5,269 6,024 23,038 155 43,932 
Operating income (loss)$23,515 $17,862 $(3,790)$2,717 $(6,361)$33,943 
Capital expenditures$12,140 $1,329 $1,656 $9,456 $1,963 $26,544 
Hardware Solutions(1)
Extruded Solutions(2)
Custom Solutions(3)
Unallocated Corp. & OtherTotal
Six Months Ended April 30, 2025
Net sales$387,675 $303,597 $182,545 $(21,295)$852,522 
Cost of sales (excluding depreciation and amortization)296,318 209,317 142,000 (18,811)628,824 
Selling, general and administrative65,616 40,181 22,448 8,738 136,983 
Restructuring charges7,015 — — 1,825 8,840 
Depreciation and amortization21,831 15,077 10,977 (3,953)43,932 
Operating (loss) income
$(3,105)$39,022 $7,120 $(9,094)$33,943 
Capital expenditures$10,296 $10,023 $4,261 $1,964 $26,544 
(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 previously reported NA Fenestration and the EU Fenestration segments.
(3) The Custom Solutions segment contains a portion of the previously reported NA Fenestration and the NA Cabinet Components segments.
The following table summarizes the change in the carrying amount of goodwill by reportable business segment for the six months ended April 30, 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 adjustment283 2,821 300 — 3,404 
Balance as of April 30, 2026$14,884 $183,754 $76,112 $— $274,750 
We do not allocate non-operating expense or income tax expense to the reportable segments. The following table reconciles operating income as reported above to net income for the three and six months ended April 30, 2026 and 2025 (in thousands):
Three Months EndedSix Months Ended
April 30,April 30,
2026202520262025
Operating income$18,710 $40,921 $21,562 $33,943 
Interest expense(12,042)(13,940)(24,409)(28,126)
Other, net448 (159)6,065 1,070 
Income tax expense(3,766)(6,307)(3,939)(1,257)
Net income (loss)$3,350 $20,515 $(721)$5,630