v3.26.1
Operating segments
 9 Months Ended
Jul. 31, 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 EndedNine Months Ended
July 31, 2026July 31, 2025July 31, 2026July 31, 2025
Sales
Industrial Precision Solutions$367,249 $350,784 $1,044,576 $970,079 
Medical and Fluid Solutions230,538 219,465 636,571 615,883 
Advanced Technology Solutions219,880 171,260 546,828 453,905 
Total segment sales817,667 741,509 2,227,975 2,039,867 
Adjusted cost of sales
Industrial Precision Solutions(288,399)(267,257)(423,154)(380,404)
Medical and Fluid Solutions(220,876)(211,813)(317,431)(315,182)
Advanced Technology Solutions(188,027)(160,936)(260,056)(215,795)
Total segment adjusted cost of sales(697,302)(640,006)(1,000,641)(911,381)
Adjusted selling and administrative expenses
Industrial Precision Solutions(188,011)(170,290)(275,761)(250,459)
Medical and Fluid Solutions(70,893)(67,453)(105,155)(102,065)
Advanced Technology Solutions(98,396)(93,965)(144,771)(139,282)
Total segment adjusted selling and administrative expenses(357,300)(331,708)(525,687)(491,806)
Depreciation
Industrial Precision Solutions6,166 5,998 18,128 17,237 
Medical and Fluid Solutions8,032 8,011 23,705 25,387 
Advanced Technology Solutions1,534 1,734 4,621 5,005 
Total segment depreciation15,732 15,743 46,454 47,629 
EBITDA
Industrial Precision Solutions129,900 130,130 363,789 356,453 
Medical and Fluid Solutions88,291 83,153 237,690 224,023 
Advanced Technology Solutions65,695 41,546 146,622 103,833 
Total segment EBITDA283,886 254,829 748,101 684,309 
Inventory step-up amortization(2,269)— (3,404)(3,135)
Acquisition related costs(576)(235)(1,110)(1,778)
Severance and other— (451)— (16,725)
Divestiture and related charges— (12,211)— (12,211)
Depreciation and amortization(36,546)(37,847)(109,446)(112,454)
Corporate expenses(21,403)(16,318)(47,441)(40,542)
Interest expense(20,823)(26,258)(65,896)(79,389)
Interest and investment income464 560 1,216 2,054 
Pension settlement charge— — (24,049)— 
Other - net(16,794)(2,945)(6,357)(5,380)
Income before taxes$185,939 $159,124 $491,614 $414,749 
The following table presents additional information about our reportable segments:
Industrial Precision SolutionsMedical and Fluid SolutionsAdvanced Technology SolutionsCorporateTotal
Three months ended July 31, 2026
Amortization of intangibles$7,521 $9,520 $2,304 $— $19,345 
Property, plant and equipment expenditures3,157 4,111 4,327 1,025 12,620 
Three months ended July 31, 2025
Amortization of intangibles$7,412 $9,674 $3,006 $— $20,092 
Property, plant and equipment expenditures2,365 7,684 996 518 11,563 
Nine months ended July 31, 2026
Amortization of intangibles22,593 28,724 7,003 — 58,320 
Property, plant and equipment expenditures8,889 14,915 15,329 1,180 40,313 
Nine months ended July 31, 2025
Amortization of intangibles21,240 28,806 9,053 — 59,099 
Property, plant and equipment expenditures15,948 24,865 5,389 2,800 49,002 
As of July 31, 2026
Identifiable assets (1)
1,884,140 2,188,585 812,137 1,063,058 5,947,920 
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 EndedNine Months Ended
July 31, 2026July 31, 2025July 31, 2026July 31, 2025
Net external sales
Americas$331,471 $314,568 $901,654 $874,868 
Europe192,432 186,620 569,351 526,878 
Asia Pacific293,764 240,321 756,970 638,121 
Total net external sales817,667 741,509 2,227,975 2,039,867