v3.26.3
Business Segment Information (Tables)
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Schedule of Segment Operating Results and Other Financial Data
Segment operating results and other financial data for the quarters and nine months ended September 30, 2026 and 2025, were as follows:
Quarter Ended September 30, 2026
(in millions)Sealing TechnologiesAdvanced Surface TechnologiesTotal
Sales from external customers$214.7 $136.1 $350.8 
Intersegment sales— 0.4 0.4 
214.7 136.5 351.2 
Reconciliation of sales
Elimination of intersegment sales(0.4)
Total consolidated sales350.8 
Cost of sales(109.3)(88.5)
Selling, general and administrative(46.4)(30.2)
Adjusting Items:
Acquisition expenses0.2 — 
Depreciation and amortization expense10.7 16.5 
Adjusted Segment EBITDA$69.9 $34.3 $104.2 
Quarter Ended September 30, 2025
(in millions)Sealing TechnologiesAdvanced Surface TechnologiesTotal
Sales from external customers$178.2 $108.4 $286.6 
Intersegment sales— 0.1 0.1 
178.2 108.5 286.7 
Reconciliation of sales
Elimination of intersegment sales(0.1)
Total consolidated sales286.6 
Cost of sales(90.0)(76.6)
Selling, general and administrative(42.0)(26.8)
Restructuring expense(0.2)— 
Adjusting Items:
Acquisition expenses2.7 — 
Restructuring expense0.2 — 
Depreciation and amortization expense8.5 16.7 
Adjusted Segment EBITDA$57.4 $21.8 $79.2 
Nine Months Ended September 30, 2026
(in millions)Sealing TechnologiesAdvanced Surface TechnologiesTotal
Sales from external customers$629.9 $362.7 $992.6 
Intersegment sales— 0.9 0.9 
629.9 363.6 993.5 
Reconciliation of sales
Elimination of intersegment sales(0.9)
Total consolidated sales992.6 
Cost of sales(321.1)(240.0)
Selling, general and administrative(140.1)(84.9)
Adjusting Items:
Acquisition expenses1.6 — 
Amortization of fair value adjustment to acquisition date inventory3.3 — 
Restructuring expense, net0.1 — 
Depreciation and amortization expense32.5 49.3 
Adjusted Segment EBITDA$206.2 $88.0 $294.2 
Nine Months Ended September 30, 2025
(in millions)Sealing TechnologiesAdvanced Surface TechnologiesTotal
Sales from external customers$545.3 $302.6 $847.9 
Intersegment sales— 0.6 0.6 
545.3 303.2 848.5 
Reconciliation of sales
Elimination of intersegment sales(0.6)
Total consolidated sales847.9 
Cost of sales(275.1)(210.4)
Selling, general and administrative(119.0)(81.3)
Restructuring expense, net0.2 (0.9)
Adjusting Items:
Acquisition expenses3.2 — 
Restructuring expense, net(0.2)0.9 
Depreciation and amortization expense25.0 50.6 
Adjusted Segment EBITDA$179.4 $62.1 $241.5 

Quarters Ended September 30,Nine Months Ended September 30,
(in millions)202620252026
2025
Reconciliation of Income Before Income Taxes to Adjusted Segment EBITDA
Income before income taxes$54.5 $32.1 $121.2 $99.9 
Acquisition expenses0.2 2.7 1.6 3.2 
Amortization of fair value adjustment to acquisition date inventory— — 3.3 — 
Restructuring expense— 0.2 0.1 0.7 
Depreciation and amortization expense27.2 25.2 81.8 75.6 
Corporate expenses13.5 10.2 43.0 33.6 
Interest expense, net8.2 6.4 25.3 21.9 
Other expense, net0.6 2.4 17.9 6.6 
Adjusted Segment EBITDA$104.2 $79.2 $294.2 $241.5 
Schedule of Net Sales by Geographical Area
Quarters Ended September 30,Nine Months Ended September 30,
2026202520262025
(in millions)(in millions)
Net Sales by Geographic Area
United States$202.4 $160.8 $567.0 $478.6 
Asia Pacific 87.3 59.6 231.0 178.7 
Europe40.9 36.9 133.2 119.9 
Rest of world20.2 29.3 61.4 70.7 
Total$350.8 $286.6 $992.6 $847.9 
Schedule of Disaggregation of Revenue Below is a summary of our third-party sales by major end market with which we did business for the quarters and nine months ended September 30, 2026 and September 30, 2025:
Quarter Ended September 30, 2026
(in millions)Sealing TechnologiesAdvanced Surface TechnologiesTotal
Aerospace$23.8 $2.3 $26.1 
Commercial vehicle47.9 — 47.9 
Food and pharmaceutical21.1 — 21.1 
General industrial87.1 8.1 95.2 
Oil and gas16.5 1.5 18.0 
Power generation15.1 — 15.1 
Semiconductor3.2 124.2 127.4 
Total third-party sales$214.7 $136.1 $350.8 
Quarter Ended September 30, 2025
(in millions)Sealing TechnologiesAdvanced Surface TechnologiesTotal
Aerospace$17.6 $4.4 $22.0 
Commercial Vehicle44.2 — 44.2 
Food and pharmaceutical18.4 — 18.4 
General industrial65.6 7.2 72.8 
Oil and gas14.8 2.1 16.9 
Power generation16.0 — 16.0 
Semiconductor1.6 94.7 96.3 
Total third-party sales$178.2 $108.4 $286.6 
Nine Months Ended 
 September 30, 2026
(in millions)Sealing TechnologiesAdvanced Surface TechnologiesTotal
Aerospace$67.4 $6.8 $74.2 
Commercial vehicle128.4 — 128.4 
Food and pharmaceutical65.5 — 65.5 
General industrial256.5 22.0 278.5 
Oil and gas50.1 4.6 54.7 
Power generation53.2 — 53.2 
Semiconductor8.8 329.3 338.1 
Total third-party sales$629.9 $362.7 $992.6 

Nine Months Ended September 30, 2025
(in millions)Sealing TechnologiesAdvanced Surface TechnologiesTotal
Aerospace$55.8 $12.0 $67.8 
Commercial vehicle129.5 — 129.5 
Food and pharmaceutical56.1 — 56.1 
General industrial201.2 20.6 221.8 
Oil and gas45.6 5.2 50.8 
Power generation51.4 — 51.4 
Semiconductor5.7 264.8 270.5 
Total third-party sales$545.3 $302.6 $847.9 
Schedule of Segment Related Capital Expenditure, Depreciation and Amortization on those Expenditures
Quarters Ended September 30,Nine Months Ended September 30,
2026202520262025
(in millions)
Capital Expenditures
Sealing Technologies$5.0 $5.6 $20.7 $12.4 
Advanced Surface Technologies7.1 6.3 19.2 17.4 
Total capital expenditures$12.1 $11.9 $39.9 $29.8 
Depreciation and Amortization Expense
Sealing Technologies$10.8 $8.5 $32.5 $25.0 
Advanced Surface Technologies16.4 16.7 49.3 50.6 
Corporate0.2 — 0.2 — 
Total depreciation and amortization$27.4 $25.2 $82.0 $75.6 
Schedule of Total Assets Segment
Segment assets are as follows:
September 30,
2026		December 31,
2025
(in millions)
Assets
Sealing Technologies$1,225.1 $1,210.1 
Advanced Surface Technologies1,306.1 1,287.4 
Corporate145.0 165.5 
$2,676.2 $2,663.0