Segment Operations (Tables)

9 Months Ended

Feb. 28, 2025

Segment Reporting [Abstract]

Financial Information for Reportable Segments

The following tables present summarized financial information for our reportable segments and Unallocated Corporate and Other for the periods indicated.

	Three Months Ended February 28, 2025
					Total		Unallocated
	Consumer		Building		Reportable		Corporate and
	Products		Products		Segments		Other			Total
Net sales	$	139,714	$	164,810	$	304,524	$	-		$	304,524
Capital expenditures		8,775		3,413		12,188		516			12,704
Depreciation and amortization		4,277		6,526		10,803		1,147			11,950
Restructuring and other expense, net		-		579		579		4,795			5,374
Equity income (loss)		-		34,499		34,499		(2,418	)		32,081
Adjusted EBITDA from continuing operations		28,625		53,187		81,812		(8,033	)		73,779

	Three Months Ended February 29, 2024
					Total		Unallocated
	Consumer		Building		Reportable		Corporate and
	Products		Products		Segments		Other			Total
Net sales	$	133,181	$	148,190	$	281,371	$	35,384		$	316,755
Capital expenditures		4,806		3,952		8,758		1,259			10,017
Depreciation and amortization		3,960		5,984		9,944		2,005			11,949
Restructuring and other expense, net		-		84		84		614			698
Separation costs		-		-		-		2,999			2,999
Equity income (loss)		-		43,813		43,813		(578	)		43,235
Adjusted EBITDA from continuing operations		25,649		53,059		78,708		(11,837	)		66,871

	Nine Months Ended February 28, 2025
					Total		Unallocated
	Consumer		Building		Reportable		Corporate and
	Products		Products		Segments		Other			Total
Net sales	$	374,057	$	461,821	$	835,878	$	-		$	835,878
Capital expenditures		19,508		11,470		30,978		6,516			37,494
Depreciation and amortization		12,872		19,392		32,264		3,443			35,707
Restructuring and other expense, net		-		1,382		1,382		7,770			9,152
Equity income (loss)		-		105,438		105,438		(3,309	)		102,129
Adjusted EBITDA from continuing operations		61,884		140,101		201,985		(23,556	)		178,429

	Nine Months Ended February 29, 2024
					Total		Unallocated
	Consumer		Building		Reportable		Corporate and
	Products		Products		Segments		Other			Total
Net sales	$	369,923	$	465,421	$	835,344	$	91,558		$	926,902
Capital expenditures		10,533		16,209		26,742		13,098			39,840
Depreciation and amortization		12,065		17,910		29,975		6,263			36,238
Restructuring and other expense, net		-		704		704		-			704
Separation costs		-		-		-		12,465			12,465
Equity income		-		124,032		124,032		3,296			127,328
Adjusted EBITDA from continuing operations		52,537		158,501		211,038		(23,209	)		187,829

Total assets for each of our reportable segments at the dates indicated were as follows:

	February 28,		May 31,
	2025		2024
Consumer Products	$	588,872	$	557,826
Building Products		754,126		672,723
Total reportable segments		1,342,998		1,230,549
Unallocated Corporate and Other		339,006		408,088
Total assets	$	1,682,004	$	1,638,637

Reconciliation of Segment Adjusted EBITDA from Continuing Operations to Earnings from Income Taxes from Continuing Operations

The following table reconciles segment adjusted EBITDA from continuing operations to earnings before income taxes from continuing operations for the periods indicated.

	Three Months Ended						Nine Months Ended
	February 28,			February 28,			February 28,			February 29,
	2025			2024			2025			2024
Segment adjusted EBITDA from continuing operations	$	81,812		$	78,708		$	201,985		$	211,038
Reconciling items:
Unallocated Corporate and Other		(8,033	)		(11,837	)		(23,556	)		(23,209	)
Depreciation and amortization		(11,950	)		(11,949	)		(35,707	)		(36,238	)
Interest expense, net		(628	)		(50	)		(2,150	)		(1,596	)
Stock-based compensation (1)		(2,924	)		(2,601	)		(10,122	)		(9,822	)
Corporate costs eliminated at Separation		-			-			-			(19,343	)
Restructuring and other expense, net (2)		(5,374	)		(698	)		(9,152	)		(704	)
Separation costs		-			(2,999	)		-			(12,465	)
Pension settlement charge		-			(8,103	)		-			(8,103	)
Loss on extinguishment of debt		-			-			-			(1,534	)
Gain on sale of assets in equity income		-			-						2,780
Net loss attributable to noncontrolling interests		(324	)		-			(820	)		-
Earnings before income taxes from continuing operations	$	52,579		$	40,471		$	120,478		$	100,804

(1)Excludes $2,665 of stock-based compensation reported in restructuring and other expense, net in our consolidated statement of earnings for the nine months ended February 28, 2025 due to the accelerated vesting of certain outstanding equity awards upon retirement of our former CEO effective November 1, 2024.

(2)Reflects the change in fair value of the contingent liability associated with the Ragasco earnout arrangement covering the 12-month period ended December 31, 2024. See “Note N – Acquisitions” for additional information.