v3.26.1
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting
Segment activity is as follows (dollars in thousands):
PackagingSpecialty ProductsTotal
Three Months Ended June 30, 2026
Net sales$142,920 $31,660 $174,580 
Cost of sales(109,350)(29,890)
Selling, general and administrative expenses(14,870)(1,080)
Other segment items (a)
20 — 
Segment operating profit$18,720 $690 $19,410 
Corporate (b)
(8,550)
Interest expense(4,120)
Other income, net (c)
11,330 
Income before income tax expense$18,070 
Three Months Ended June 30, 2025
Net sales$143,010 $28,740 $171,750 
Cost of sales(107,460)(26,340)
Selling, general and administrative expenses(15,540)(1,140)
Other segment items (a)
(20)— 
Segment operating profit$19,990 $1,260 $21,250 
Corporate (d)
(13,860)
Interest expense(4,550)
Other income, net270 
Income before income tax expense$3,110 
PackagingSpecialty ProductsTotal
Six Months Ended June 30, 2026
Net sales$282,090 $60,770 $342,860 
Cost of sales(215,860)(54,790)
Selling, general and administrative expenses(32,970)(2,450)
Other segment items (a)
10 20 
Segment operating profit$33,270 $3,550 $36,820 
Corporate (e)
(19,070)
Interest expense(9,360)
Other income, net (f)
12,220 
Income before income tax expense$20,610 
Six Months Ended June 30, 2025
Net sales$270,580 $53,630 $324,210 
Cost of sales(203,570)(49,860)
Selling, general and administrative expenses(29,750)(3,660)
Other segment items (a)
(30)— 
Segment operating profit$37,230 $110 $37,340 
Corporate (g)
(22,800)
Interest expense(9,070)
Other income, net230 
Income before income tax expense$5,700 
__________________________
(a) Other segment items for each reportable segment includes net gain (loss) on dispositions of assets.
(b) Includes $0.9 million of mergers, acquisition, diligence and transaction costs and $0.7 million of system implementation costs.
(c) Includes $10.9 million of interest income on the invested cash proceeds from the sale of Aerospace.
(d) Includes $2.2 million of realignment, severance and consulting costs and $1.4 million of system implementation costs.
(e) Includes $1.8 million of system implementation costs, $1.4 million of realignment and severance costs, and $0.9 million of mergers, acquisition, diligence and transaction costs.
(f) Includes $12.9 million of interest income on the invested cash proceeds from the sale of Aerospace.
(g) Includes $7.0 million of realignment, severance and consulting costs, $5.3 million gain on the sale of Arrow Engine, $2.4 million of system implementation costs and $0.3 million of mergers, acquisition, diligence and transaction costs.
Three months ended
June 30, 		Six months ended
June 30,
2026202520262025
Capital expenditures
Packaging$4,980 $8,110 $8,740 $16,090 
Specialty Products1,250 2,800 2,680 3,860 
Corporate230 1,210 720 2,620 
Total$6,460 $12,120 $12,140 $22,570 
Depreciation and amortization
Packaging$9,010 $8,710 $17,800 $17,040 
Specialty Products820 830 1,550 1,650 
Corporate110 90 220 170 
Total$9,940 $9,630 $19,570 $18,860 

June 30, 2026December 31, 2025
Total Assets
Packaging$879,930 $855,080 
Specialty Products85,350 73,890 
Corporate(a)
1,280,370 112,660 
Total$2,245,650 $1,041,630 
(a) Corporate total assets as of June 30, 2026, includes $1,212.9 million of cash, primarily due to proceeds received on the sale of the Company's Aerospace segment and a $33.8 million asbestos-related insurance recovery asset. Corporate total assets as of December 31, 2025, includes a $53.9 million deferred tax asset as a result of the planned divestiture of Aerospace and a $34.7 million asbestos-related insurance recovery asset.