v3.26.3
Segment Information (Tables)
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Schedule of Operating Segment Reporting Information

Financial information for our operating segments for the quarters and nine months ended September, 2026 and 2025 were as follows:

 

 

 

 

 

 

Composite

 

 

Engineered

 

 

Corporate &

 

 

 

 

(In millions)

 

Materials

 

 

Products

 

 

Other (a)

 

 

Total

 

Quarter Ended September 30, 2026

 

 

 

 

 

 

 

 

 

 

 

 

Net sales to external customers

 

$

390.3

 

 

$

106.1

 

 

$

—

 

 

$

496.4

 

Intersegment sales

 

 

26.5

 

 

 

1.6

 

 

 

(28.1

)

 

 

—

 

Total sales

 

 

416.8

 

 

 

107.7

 

 

 

(28.1

)

 

 

496.4

 

Cost of sales

 

 

315.3

 

 

 

89.7

 

 

 

(24.1

)

 

 

380.9

 

Gross margin

 

 

101.5

 

 

 

18.0

 

 

 

(4.0

)

 

 

115.5

 

Selling, general and administrative expenses

 

 

26.1

 

 

 

3.8

 

 

 

15.0

 

 

 

44.9

 

Research and development expenses

 

 

14.7

 

 

 

1.4

 

 

 

0.1

 

 

 

16.2

 

Other operating expense

 

 

(0.4

)

 

 

—

 

 

 

—

 

 

 

(0.4

)

Operating income (loss)

 

 

61.1

 

 

 

12.7

 

 

 

(19.0

)

 

 

54.8

 

Depreciation and amortization

 

 

26.9

 

 

 

3.1

 

 

 

—

 

 

 

30.0

 

Stock-based compensation

 

 

1.0

 

 

 

0.4

 

 

 

2.5

 

 

 

3.9

 

Accrual basis additions to capital expenditures

 

 

22.3

 

 

 

1.7

 

 

 

—

 

 

 

24.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarter Ended September 30, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Net sales to external customers

 

$

363.2

 

 

$

93.0

 

 

$

—

 

 

$

456.2

 

Intersegment sales

 

 

18.9

 

 

 

1.4

 

 

 

(20.3

)

 

 

—

 

Total sales

 

 

382.1

 

 

 

94.4

 

 

 

(20.3

)

 

 

456.2

 

Cost of sales

 

 

300.1

 

 

 

75.2

 

 

 

(19.0

)

 

 

356.3

 

Gross margin

 

 

81.9

 

 

 

19.3

 

 

 

(1.3

)

 

 

99.9

 

Selling, general and administrative expenses

 

 

27.1

 

 

 

3.8

 

 

 

10.2

 

 

 

41.1

 

Research and development expenses

 

 

12.1

 

 

 

1.0

 

 

 

0.9

 

 

 

14.0

 

Other operating expense

 

 

2.8

 

 

 

1.0

 

 

 

5.0

 

 

 

8.8

 

Operating income (loss)

 

 

39.9

 

 

 

13.6

 

 

 

(17.5

)

 

 

36.0

 

Depreciation and amortization

 

 

27.7

 

 

 

3.2

 

 

 

—

 

 

 

30.9

 

Stock-based compensation

 

 

0.6

 

 

 

0.2

 

 

 

0.2

 

 

 

1.0

 

Accrual basis additions to capital expenditures

 

 

16.7

 

 

 

1.4

 

 

 

—

 

 

 

18.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2026

 

 

 

 

 

 

 

 

 

 

 

 

Net sales to external customers

 

$

1,210.6

 

 

$

316.6

 

 

$

—

 

 

$

1,527.2

 

Intersegment sales

 

 

82.1

 

 

 

4.7

 

 

 

(86.8

)

 

 

—

 

Total sales

 

 

1,292.7

 

 

 

321.3

 

 

 

(86.8

)

 

 

1,527.2

 

Cost of sales

 

 

960.4

 

 

 

261.0

 

 

 

(82.5

)

 

 

1,138.9

 

Gross margin

 

 

332.3

 

 

 

60.3

 

 

 

(4.3

)

 

 

388.3

 

Selling, general and administrative expenses

 

 

74.3

 

 

 

11.6

 

 

 

55.6

 

 

 

141.5

 

Research and development expenses

 

 

46.7

 

 

 

4.3

 

 

 

0.3

 

 

 

51.3

 

Other operating expense

 

 

6.3

 

 

 

—

 

 

 

4.2

 

 

 

10.5

 

Operating income (loss)

 

 

205.0

 

 

 

44.3

 

 

 

(64.3

)

 

 

185.0

 

Depreciation and amortization

 

 

81.1

 

 

 

9.4

 

 

 

—

 

 

 

90.5

 

Stock-based compensation

 

 

5.6

 

 

 

1.5

 

 

 

11.3

 

 

 

18.4

 

Accrual basis additions to capital expenditures

 

 

55.2

 

 

 

6.0

 

 

 

—

 

 

 

61.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Net sales to external customers

 

$

1,121.7

 

 

$

280.9

 

 

$

—

 

 

$

1,402.6

 

Intersegment sales

 

 

58.4

 

 

 

2.1

 

 

 

(60.5

)

 

 

—

 

Total sales

 

 

1,180.1

 

 

 

283.0

 

 

 

(60.5

)

 

 

1,402.6

 

Cost of sales

 

 

909.3

 

 

 

236.6

 

 

 

(57.1

)

 

 

1,088.8

 

Gross margin

 

 

270.7

 

 

 

46.5

 

 

 

(3.4

)

 

 

313.8

 

Selling, general and administrative expenses

 

 

78.9

 

 

 

12.1

 

 

 

36.4

 

 

 

127.4

 

Research and development expenses

 

 

36.2

 

 

 

3.1

 

 

 

2.8

 

 

 

42.1

 

Other operating expense

 

 

2.8

 

 

 

26.3

 

 

 

5.0

 

 

 

34.1

 

Operating income (loss)

 

 

152.8

 

 

 

5.1

 

 

 

(47.7

)

 

 

110.2

 

Depreciation and amortization

 

 

81.8

 

 

 

9.7

 

 

 

—

 

 

 

91.5

 

Stock-based compensation

 

 

4.5

 

 

 

1.2

 

 

 

7.7

 

 

 

13.4

 

Accrual basis additions to capital expenditures

 

 

45.3

 

 

 

4.6

 

 

 

—

 

 

 

49.9

 

 

(a)
We do not allocate corporate expenses to the operating segments.
Schedule of Goodwill and Intangible Assets by Segment

Goodwill and Intangible Assets

 

Composite

 

 

Engineered

 

 

 

 

(In millions)

Materials

 

 

Products

 

 

Total

 

Balance at December 31, 2025

 

$

89.9

 

 

$

149.9

 

 

$

239.8

 

Amortization expense

 

 

(1.2

)

 

 

(3.1

)

 

 

(4.3

)

Currency translation adjustments

 

 

(1.7

)

 

 

0.1

 

 

 

(1.6

)

Balance at September 30, 2026

 

$

87.0

 

 

$

146.9

 

 

$

233.9

 
Schedule of Segment Assets

At September 30, 2026, the balance of goodwill and intangible assets was $190.1 million and $43.8 million, respectively.

 

 

Composite

 

 

Engineered

 

 

Corporate &

 

 

 

 

(In millions)

 

Materials

 

 

Products

 

 

Other

 

 

Total

 

Segment assets

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2026

 

$

2,066.6

 

 

$

640.2

 

 

$

22.4

 

 

$

2,729.2

 

December 31, 2025

 

 

2,066.7

 

 

 

596.2

 

 

 

41.1

 

 

 

2,704.0