Segment Data (Tables)

12 Months Ended

May 31, 2026

Financial Information for Operating Segments

The following tables present financial information for both of our operating segments, consistent with the level of disaggregation regularly reviewed by the CODM for performance evaluation and resource allocation.


	2026
						Total
	Building		Consumer			Reportable					Unallocated
	Products		Products			Segments		Other			Corporate			Consolidated
Net sales	$	861,456	$	519,836		$	1,381,292	$	-		$	-		$	1,381,292
Cost of goods sold		665,637		337,266			1,002,903		-			114			1,003,017
SG&A		144,486		110,975			255,461		-			39,505			294,966
Restructuring and other expense, net		1,074		10			1,084		-			6,016			7,100
Other segment items (1)		55		8			63		3,925			5,504			9,492
Equity in net income of unconsolidated affiliates		139,940		-			139,940		(5,309	)		-			134,631
Earnings (loss) before income taxes from continuing operations	$	190,144	$	71,577		$	261,721	$	(9,234	)	$	(51,139	)	$	201,348

Reconciling items to adjusted EBITDA from continuing operations (2)
Amortization of inventory step-up	$	5,151	$	-		$	5,151	$	-		$	-		$	5,151
Depreciation and amortization		40,684		15,789			56,473		-			799			57,272
Interest expense (income)		383		(6	)		377		-			5,871			6,248
Stock-based compensation		2,874		2,737			5,611		-			8,123			13,734
Restructuring and other expense, net		1,074		10			1,084		-			6,016			7,100
Non-cash losses in miscellaneous expense, net		-		-			-		3,925			-			3,925
Net loss attributable to noncontrolling interest		-		1,050			1,050		-			-			1,050
Adjusted EBITDA from continuing operations	$	240,310	$	91,157		$	331,467	$	(5,309	)	$	(30,330	)	$	295,828


	2025
						Total
	Building			Consumer		Reportable						Unallocated
	Products			Products		Segments			Other			Corporate			Consolidated
Net sales	$	654,137		$	499,625	$	1,153,762		$	-		$	-		$	1,153,762
Cost of goods sold		510,962			323,659		834,621			-			106			834,727
SG&A		116,183			114,681		230,864			-			37,549			268,413
Impairment of long-lived assets		763			50,050		50,813			-			-			50,813
Restructuring and other expense, net		1,500			-		1,500			-			9,024			10,524
Other segment items (1)		(780	)		27		(753	)		5,000			1,065			5,312
Equity in net income of unconsolidated affiliates		150,895			-		150,895			(6,059	)		-			144,836
Earnings (loss) before income taxes from continuing operations	$	176,404		$	11,208	$	187,612		$	(11,059	)	$	(47,744	)	$	128,809

Reconciling items to adjusted EBITDA from continuing operations (2)
Amortization of inventory step-up	$	1,477		$	-	$	1,477		$	-		$	-		$	1,477
Depreciation and amortization		30,070			17,418		47,488			-			774			48,262
Interest (income) expense		(78	)		-		(78	)		-			2,168			2,090
Stock-based compensation		2,695			2,917		5,612			-			7,909			13,521
Impairment of long-lived assets		763			50,050		50,813			-			-			50,813
Restructuring and other expense, net		1,500			-		1,500			-			9,024			10,524
Non-cash losses in miscellaneous expense, net		-			-		-			5,000			-			5,000
Non-recurring loss in equity income		-			-		-			3,387			-			3,387
Net loss attributable to noncontrolling interest		-			1,083		1,083			-			-			1,083
Adjusted EBITDA from continuing operations	$	212,831		$	82,676	$	295,507		$	(2,672	)	$	(27,869	)	$	264,966


	2024
							Total
	Building			Consumer			Reportable						Unallocated
	Products			Products			Segments			Other			Corporate			Consolidated
Net sales	$	618,973		$	495,259		$	1,114,232		$	131,471		$	-		$	1,245,703
Cost of goods sold		497,311			335,069			832,380			129,061			(757	)		960,684
SG&A		107,009			113,960			220,969			16,259			46,243			283,471
Impairment of goodwill and long-lived assets		772			-			772			32,203			-			32,975
Restructuring and other expense (income), net		714			(2,000	)		(1,286	)		30,613			-			29,327
Separation costs		-			-			-			-			12,705			12,705
Other segment items (1)		(88	)		78			(10	)		17,799			2,461			20,250
Equity in net income of unconsolidated affiliates		163,126			-			163,126			4,590			-			167,716
Earnings (loss) before income taxes from continuing operations	$	176,381		$	48,152		$	224,533		$	(89,874	)	$	(60,652	)	$	74,007

Reconciling items to adjusted EBITDA from continuing operations (2)
Amortization of inventory step-up	$	-		$	50		$	50		$	-		$	-		$	50
Depreciation and amortization		23,805			16,512			40,317			7,283			1,063			48,663
Interest expense		-			-			-			-			1,587			1,587
Stock-based compensation		2,826			1,964			4,790			-			8,365			13,155
Corporate costs eliminated at separation		4,650			4,707			9,357			-			9,986			19,343
Impairment of goodwill and long-lived assets		772			-			772			32,203			-			32,975
Restructuring and other expense (income), net		714			(2,000	)		(1,286	)		30,613			-			29,327
Separation costs		-						-			-			12,705			12,705
Non-cash losses in miscellaneous income		-			-			-			19,180			-			19,180
Non-recurring (gain) loss in equity income		980			-			980			(2,720	)		-			(1,740	)
Loss on extinguishment on debt		-			-			-			-			1,534			1,534
Net loss attributable to noncontrolling interest		-			263			263			-			-			263
Adjusted EBITDA from continuing operations	$	210,128		$	69,648		$	279,776		$	(3,315	)	$	(25,412	)	$	251,049

(1)

Except as noted herein, Other segment items consist of non-operating activity included in adjusted EBITDA from continuing operations. In fiscal 2026 Other segment items also included certain non-cash losses in Miscellaneous expense, net related to the divestiture of the composite assets of our SES joint venture, including the unrealized loss on the common shares of Hexagon Composites and Hexagon Purus that we received as consideration. These charges were excluded from adjusted EBITDA from continuing operations as shown in the Reconciling items to adjusted EBITDA from continuing operations section in the tables above for fiscal 2026. See “Use of Non-GAAP Financial Measures and Definitions” for additional information.

(2)

See “Use of Non-GAAP Financial Measures and Definitions” for additional information.

Total assets for each of our operating segments as of the end of the past two fiscal years were as follows:


	May 31,
	2026		2025
Building Products	$	1,170,522	$	795,837
Consumer Products		535,693		531,187
Total reportable segments		1,706,215		1,327,024
Unallocated Corporate and Other		141,849		368,128
Total	$	1,848,064	$	1,695,152

Property, Plant and Equipment, Net by Geographic Region

The following table presents property, plant and equipment, net, by geographic region as of the end of the past two fiscal years:


	May 31,
	2026		2025
United States	$	259,854	$	223,117
International		51,040		47,109
Total	$	310,894	$	270,226

Net Sales by Geographic Region

The following table presents net sales by geographic region for the past three fiscal years:


	2026		2025		2024
United States	$	1,216,926	$	891,428	$	923,556
International		164,366		262,334		322,147
Total	$	1,381,292	$	1,153,762	$	1,245,703

Schedule of Capital Expenditures of Reportable Segments

The following table presents capital expenditures for each of our reportable segments for the past three fiscal years:


	2026		2025		2024
Building Products	$	23,325	$	15,050	$	14,447
Consumer Products		29,680		28,330		20,945
Total reportable segments		53,005		43,380		35,392
Unallocated Corporate		2,908		7,200		12,029
Total	$	55,913	$	50,580	$	47,421