v3.26.1
Segment Information
 9 Months Ended
Jul. 31, 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 nine month periods ended July 31, 2026 were $11.5 million and $36.2 million, respectively, and $11.5 million and $29.4 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 nine months ended July 31, 2026 and 2025 was as follows (in thousands):
Hardware SolutionsExtruded SolutionsCustom SolutionsUnallocated Corp. & OtherTotal
Three Months Ended July 31, 2026
Net sales$220,923 $179,291 $111,007 $(9,376)501,845 
Cost of sales (excluding depreciation and amortization)162,056 121,389 85,861 (8,926)360,380 
Selling, general and administrative33,162 22,279 13,143 2,253 70,837 
Depreciation and amortization11,386 7,213 5,330 209 24,138 
Operating income (loss)$14,319 $28,410 $6,673 $(2,912)$46,490 
Capital expenditures$5,313 $2,794 $2,636 $1 $10,744 
Three Months Ended July 31, 2025
Net sales$227,116 $174,427 $102,264 $(8,534)$495,273 
Cost of sales (excluding depreciation and amortization)170,282 116,597 77,755 (7,329)357,305 
Selling, general and administrative32,954 20,740 11,708 5,868 71,270 
Restructuring charges1,140 34 26 167 1,367 
Depreciation and amortization16,987 6,989 4,716 5,190 33,882 
Asset impairment charges163,198 54,934 84,152 — 302,284 
Operating loss$(157,445)$(24,867)$(76,093)$(12,430)$(270,835)
Capital expenditures$6,009 $4,981 $3,258 $204 $14,452 
Nine Months Ended July 31, 2026
Net sales$613,054 $484,040 $304,062 $(27,855)$1,373,301 
Cost of sales (excluding depreciation and amortization)475,172 331,979 236,302 (27,936)1,015,517 
Selling, general and administrative103,105 65,084 40,182 8,324 216,695 
Depreciation and amortization34,626 21,893 15,956 562 73,037 
Operating income (loss)$151 $65,084 $11,622 $(8,805)$68,052 
Capital expenditures$17,106 $8,779 $7,121 $60 $33,066 
Nine Months Ended July 31, 2025
Net sales$614,791 $478,024 $284,809 $(29,829)$1,347,795 
Cost of sales (excluding depreciation and amortization)466,600 325,914 219,755 (26,140)986,129 
Selling, general and administrative98,570 60,921 34,156 14,606 208,253 
Restructuring charges8,155 34 26 1,992 10,207 
Depreciation and amortization38,818 22,066 15,693 1,237 77,814 
Asset impairment charges163,198 54,934 84,152 — 302,284 
Operating (loss) income $(160,550)$14,155 $(68,973)$(21,524)$(236,892)
Capital expenditures$16,305 $15,004 $7,519 $2,168 $40,996 
The following table summarizes the change in the carrying amount of goodwill by reportable business segment for the nine months ended July 31, 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 adjustment149 1,960 310 — 2,419 
Balance as of July 31, 2026$14,750 $182,893 $76,122 $— $273,765 
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 nine months ended July 31, 2026 and 2025 (in thousands):
Three Months EndedNine Months Ended
July 31,July 31,
2026202520262025
Operating income (loss)$46,490 $(270,835)$68,052 $(236,892)
Interest expense(11,978)(14,218)(36,387)(42,344)
Other, net(93)855 5,972 1,925 
Income tax (expense) benefit(7,915)8,191 (11,854)6,934 
Net income (loss)$26,504 $(276,007)$25,783 $(270,377)