v3.26.3
SEGMENT INFORMATION
 9 Months Ended
Sep. 27, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company has two reportable segments, Manufacturing and Distribution, which are defined based on the way in which internally reported information is regularly reviewed and evaluated by the Company’s chief operating decision maker (the "CODM"), who is our Chairman and Chief Executive Officer, to allocate resources, evaluate financial results and make decisions. The Company does not measure profitability at the end market (RV, marine, powersports, MH and industrial) level.
Manufacturing – This segment includes the following products: laminated products utilized to produce furniture, shelving, walls and countertops; laminated and decorative surface products, including laminated panels, decorative and wrapped vinyls, paper-laminated panels, and vinyl printing; solid surface, granite and quartz countertops; fabricated aluminum products; hardwood profile mouldings; electrical systems components including instrument, digital switching, dash panels, digital displays and gauges; slide-out trim and fascia; cabinet products, doors, components and custom cabinetry; tooling for fiberglass boat manufacturers; fiberglass bath fixtures and tile systems; specialty bath and closet building products; boat towers, tops, power bimini systems, trailers, frames and other engineered structural components; softwoods lumber; interior passage doors and baggage doors; wiring and wire harnesses; CNC molds and composite parts; aluminum and plastic fuel tanks; slotwall panels and components; RV painting; thermoformed shower surrounds; fiberglass and plastic components including front and rear caps and marine helms; polymer-based and other flooring; Marine hardware and accessories; air handling products; treated, untreated and laminated plywood; RV and marine furniture; adhesives and sealants; audio systems and accessories, including amplifiers, tower speakers, soundbars, and subwoofers; Marine non-slip foam flooring, padding, and accessories; protective covers for boats, RVs, aircraft, and military and industrial equipment; windshield and wiper systems; roofs/canopies; integrated door systems; fender flares and rear panels; composite panels; and other products.
Distribution – The Company distributes pre-finished wall and ceiling panels; drywall and drywall finishing products; interior and exterior lighting products; wiring, electrical and plumbing products; transportation and logistics services; electronics and audio systems components; cement siding; raw and processed lumber; fiber reinforced polyester (“FRP”) products; interior passage doors; roofing products; laminate and ceramic flooring; shower doors; fireplaces and surrounds; appliances; tile; Marine hardware and accessories; RV awnings, windows, fiberglass siding and roofing; Marine windshields; RV air conditioning units and furniture; and other products in addition to providing transportation and logistics services.
The CODM evaluates the performance of the Company's segments and allocates resources to them based on a variety of indicators including but not limited to net sales, gross profit and operating income. On at least a quarterly basis, the CODM considers actual to budget variances as well as actual to prior year actual performance for both profit measures when making decisions about the allocation of operating and capital resources to each segment. The CODM also uses segment gross profit and segment operating income to assess the performance of each segment by comparing the results of each segment with one another.

The accounting policies of the segments are the same as those described in Note 1 "Basis of Presentation and Significant Accounting Policies" included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC on February 19, 2026. Segment net sales data includes inter-segment sales. The Company accounts for inter-segment sales similar to third party transactions, which reflect current market prices. Certain income from purchase incentive agreements is not allocated to the segments and instead recorded at the corporate level. Assets are identified to the segments except for cash, prepaid expenses, land and buildings, and certain deferred assets, which are identified with corporate. Corporate charges rent to the segments for use of the land and buildings based upon estimated market rates.
The following tables summarize key financial information by segment:
Three Months Ended September 27, 2026
($ in thousands)ManufacturingDistribution
Total
Total net sales$755,018 $225,205 $980,223 
Cost of goods sold585,275 162,582 747,857 
Gross profit$169,743 $62,623 $232,366 
Operating expenses78,933 37,224 116,157 
  Operating income$90,810 $25,399 $116,209 
Reconciliation of reportable segment operating income to consolidated income before income tax:
Selling, general and administrative41,421 
Amortization of intangible assets23,283 
Interest expense, net18,828 
Inter-segment elimination1,670 
Consolidated income before income taxes$31,007 
Capital expenditures$18,491 $136 $18,627 
Depreciation and amortization$36,059 $4,611 $40,670 
Three Months Ended September 28, 2025
($ in thousands)
Manufacturing
Distribution
Total
Total net sales
$722,826 $259,037 $981,863 
Cost of goods sold
564,041 199,270 763,311 
Gross Profit
$158,785 $59,767 $218,552 
Operating expenses
74,380 36,584 110,964 
Operating income
$84,405 $23,183 $107,588 
Reconciliation of reportable segment operating income to consolidated income before income tax:
Selling, general and administrative
20,460 
Amortization of intangible assets
24,108 
Interest expense, net
18,451 
Inter-segment elimination
(3,273)
Consolidated income before income taxes
$47,842 
Capital expenditures$19,440 $227 $19,667 
Depreciation and amortization
$35,792 $4,531 $40,323 
Nine Months Ended September 27, 2026
($ in thousands)ManufacturingDistribution
Total
Total net sales$2,341,959 $688,511 $3,030,470 
Cost of goods sold1,817,797 508,373 2,326,170 
Gross profit$524,162 $180,138 $704,300 
Operating expenses235,101 112,847 347,948 
  Operating income$289,061 $67,291 $356,352 
Reconciliation of reportable segment operating income to consolidated income before income tax:
Selling, general and administrative96,431 
Amortization of intangible assets70,945 
Interest expense, net56,194 
Inter-segment eliminations(2,616)
Consolidated income before income taxes$135,398 
Capital expenditures$53,566 $619 $54,185 
Depreciation and amortization$108,746 $13,801 $122,547 
Nine Months Ended September 28, 2025
($ in thousands)ManufacturingDistribution
Total
Total net sales$2,253,833 $790,611 $3,044,444 
Cost of goods sold1,746,369 596,969 2,343,338 
Gross profit$507,464 $193,642 $701,106 
Operating expenses221,815 113,041 334,856 
  Operating income$285,649 $80,601 $366,250 
Reconciliation of reportable segment operating income to consolidated income before income tax:
Selling, general and administrative76,344 
Amortization of intangible assets73,084 
Interest expense, net56,432 
Inter-segment eliminations(1,762)
Other expense24,420 
Consolidated income before income taxes$137,732 
Capital expenditures$49,261 $781 $50,042 
Depreciation and amortization$108,708 $13,662 $122,370 
A reconciliation of certain line items pertaining to the total reportable segments to the condensed consolidated financial statements for the three and nine months ended September 27, 2026 and September 28, 2025, and as of September 27, 2026 and December 31, 2025 is as follows:
Three Months Ended
Nine Months Ended
($ in thousands)September 27, 2026September 28, 2025September 27, 2026September 28, 2025
Net sales:
Total sales for reportable segments$980,223 $981,863 $3,030,470 $3,044,444 
Elimination of inter-segment sales(4,946)(6,232)(16,317)(17,839)
Consolidated net sales$975,277 $975,631 $3,014,153 $3,026,605 
Depreciation and amortization:
Depreciation and amortization for reportable segments$40,670 $40,323 $122,547 $122,370 
Corporate depreciation and amortization1,927 1,644 5,840 4,852 
Consolidated depreciation and amortization$42,597 $41,967 $128,387 $127,222 
Capital expenditures:
Capital expenditures for reportable segments$18,627 $19,667 $54,185 $50,042 
Corporate capital expenditures661 6,631 1,661 14,702 
Consolidated capital expenditures$19,288 $26,298 $55,846 $64,744 

As of
($ in thousands)September 27, 2026December 31, 2025
Total assets:
Manufacturing segment assets$2,646,840 $2,476,411 
Distribution segment assets469,445 493,308 
Corporate assets unallocated to segments67,629 80,023 
Cash and cash equivalents16,040 26,432 
Consolidated total assets$3,199,954 $3,076,174 
The Company's revenue from external customers and long-lived assets are substantially all attributed to the U.S.