Segment Information

12 Months Ended

Oct. 31, 2025

Segment Reporting [Abstract]

Segment Information

Segment Information

In our Annual Report on Form 10-K as of October 31, 2024 and our Quarterly Reports on Form 10- Q as of January 31, 2025 and April 30, 2025, respectively, we presented four reportable business segments: (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: 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 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 consolidated financial statements. Corporate general and administrative expenses allocated during the years ended October 31, 2025, 2024 and 2023 were $40.3 million, $27.3 million and $23.5 million, respectively.

ASC Topic 280-10-50, “Segment Reporting” (ASC 280) permits aggregation of operating segments based on factors including, but not limited to: (1) similar nature of products serving the building products industry, primarily the fenestration business; (2) similar production processes, although there are some differences in the amount of automation amongst operating plants; (3) similar types or classes of customers, namely the primary OEMs; (4) similar distribution methods for product delivery, although the extent of the use of third-party distributors will vary amongst the businesses; (5) similar regulatory environment; and (6) converging long-term economic similarities.

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 the segment operating income (loss) for each segment when making decisions about allocating capital and personnel to the segments. The CODM also uses segment operating income (loss), along with net sales, to assess the performance for each segment by comparing the results of each segment with one another and in the compensation of certain employees.

The Company does not provide 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 years ended October 31, 2025, 2024 and 2023 was as follows (in thousands):

	Hardware Solutions		Extruded Solutions		Custom Solutions		Unallocated Corp. & Other		Total
Year Ended October 31, 2025
Net sales	$	841,674	$	646,627	$	388,210	$	(38,870)	$	1,837,641
Cost of sales (excluding depreciation and amortization)	635,481		440,141		298,316		(35,525)		1,338,413
Selling, general and administrative	128,009		83,716		48,273		17,263		277,261
Restructuring charges	7,936		34		205		2,016		10,191
Depreciation and amortization	51,681		29,204		21,248		1,311		103,444
Goodwill impairment charges	163,198		54,934		84,152		—		302,284
Operating (loss) income	(144,631)		38,598		(63,984)		(23,935)		(193,952)
Year Ended October 31, 2024
Net sales	$	427,839	$	559,995	$	309,441	$	(19,413)	$	1,277,862
Cost of sales (excluding depreciation and amortization)	349,379		389,760		252,111		(19,012)		972,238
Selling, general and administrative	51,564		58,100		31,068		49,738		190,470
Depreciation and amortization	16,580		25,119		18,348		281		60,328
Operating income (loss)	10,316		87,016		7,914		(50,420)		54,826
Year Ended October 31, 2023
Net sales	$	296,959	$	544,585	$	298,361	$	(9,322)	$	1,130,583
Cost of sales (excluding depreciation and amortization)	239,505		378,791		244,026		(9,263)		853,059
Selling, general and administrative	21,608		62,349		24,834		15,166		123,957
Depreciation and amortization	3,968		22,351		16,277		270		42,866
Operating income (loss)	31,878		81,094		13,224		(15,495)		110,701

The following tables reconcile our segment presentation, as previously reported in our Annual Report on Form 10-K for the twelve months ended October 31, 2024 and 2023, to the current presentation (in thousands):

	NA Fenestration		EU Fenestration		NA Cabinet Components		Tyman		Unallocated Corp. & Other		Total
Year Ended October 31, 2024
Net sales	$	650,058	$	230,712	$	198,424	$	203,435	$	(4,767)	$	1,277,862
Cost of sales (excluding depreciation and amortization)	498,378		144,585		168,414		163,946		(3,085)		972,238
Selling, general and administrative	56,630		31,318		20,727		44,453		37,342		190,470
Depreciation and amortization	20,994		10,420		12,244		16,438		232		60,328
Operating income (loss)	74,056		44,389		(2,961)		(21,402)		(39,256)		54,826
			Hardware Solutions(1)		Extruded Solutions(2)		Custom Solutions(3)		Unallocated Corp. & Other		Total
Year Ended October 31, 2024
Net sales			$	427,839	$	559,995	$	309,441	$	(19,413)	$	1,277,862
Cost of sales (excluding depreciation and amortization)			349,379		389,760		252,111		(19,012)		972,238
Selling, general and administrative			51,564		58,100		31,068		49,738		190,470
Depreciation and amortization			16,580		25,119		18,348		281		60,328
Operating income (loss)			10,316		87,016		7,914		(50,420)		54,826
	NA Fenestration		EU Fenestration		NA Cabinet Components		Tyman		Unallocated Corp. & Other		Total
Year Ended October 31, 2023
Net sales	$	667,482	$	250,774	$	215,445	$	—	$	(3,118)	$	1,130,583
Cost of sales (excluding depreciation and amortization)	517,805		158,491		178,210		—		(1,447)		853,059
Selling, general and administrative	56,979		32,350		21,074		—		13,554		123,957
Depreciation and amortization	20,539		9,849		12,208		—		270		42,866
Operating income (loss)	72,159		50,084		3,953		—		(15,495)		110,701
			Hardware Solutions(1)		Extruded Solutions(2)		Custom Solutions(3)		Unallocated Corp. & Other		Total
Year Ended October 31, 2023
Net sales			$	296,959	$	544,585	$	298,361	$	(9,322)	$	1,130,583
Cost of sales (excluding depreciation and amortization)			239,505		378,791		244,026		(9,263)		853,059
Selling, general and administrative			21,608		62,349		24,834		15,166		123,957
Depreciation and amortization			3,968		22,351		16,277		270		42,866
Operating income (loss)			31,878		81,094		13,224		(15,495)		110,701

(1) The Hardware Solutions segment contains a portion of the previously reported NA Fenestration and Tyman segments.

(2) The Extruded Solutions segment contains a portion of the NA Fenestration, EU Fenestration, and Tyman segments.

(3) The Custom Solutions segment contains a portion of the NA Fenestration, NA Cabinet Components, and Tyman segments.

The following table summarizes the change in the carrying amount of goodwill by segment for the years ended October 31, 2025 and 2024 (in thousands):

	Hardware Solutions		Extruded Solutions		Custom Solutions		Unallocated Corp. & Other		Total
Balance as of October 31, 2023	$	2,784	$	99,632	$	80,540	$	—	$	182,956
Tyman acquisition	163,647		140,329		81,069		—		385,045
Foreign currency translation adjustment	3,936		3,672		(898)		—		6,710
Balance as of October 31, 2024	$	170,367	$	243,633	$	160,711	$	—	$	574,711
Measurement period adjustment	6,984		(9,986)		(987)		—		(3,989)
Goodwill impairment charge	(163,198)		(54,934)		(84,152)		—		(302,284)
Foreign currency translation adjustment	448		2,220		240		—		2,908
Balance as of October 31, 2025	$	14,601	$	180,933	$	75,812	$	—	$	271,346

As a result of the impairment test performed during the year ended October 31, 2025, we recognized non-cash goodwill impairment losses totaling $302.3 million. Of this amount, $163.2 million pertains to two out of the three reporting units within the Hardware Solutions reportable segment, $54.9 million relates to one of the four reporting units within Extruded Solutions, and $84.2 million impacts all three reporting units within the Custom Solutions reportable segment. One of the reporting units within Hardware Solutions and one reporting unit within Custom Solutions were fully impaired, resulting in seven reporting units remaining with goodwill. For further details of Goodwill, see Note 7, “Goodwill and Intangible Assets”, located herewith.

We did 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 years ended October 31, 2025, 2024 and 2023 (in thousands):

	Year Ended October 31,
	2025		2024		2023
Operating (loss) income	$	(193,952)	$	54,826	$	110,701
Interest expense	(55,812)		(20,593)		(8,136)
Other, net	7,171		7,849		(5,519)
Income tax expense	(8,213)		(9,023)		(14,545)
Net (loss) income	$	(250,806)	$	33,059	$	82,501

Geographic Information

Our manufacturing facilities and all long-lived assets are located primarily in the U.S. and Europe. We attribute our net sales to a geographic region based on the location of the customer. The following tables provide information concerning our net sales for the years ended October 31, 2025, 2024 and 2023, and our long-lived assets as of October 31, 2025 and 2024 (in thousands):

	Year Ended October 31,
Net sales	2025		2024		2023
United States	$	1,248,137	$	926,864	$	834,525
Europe	450,359		271,182		244,560
Canada	66,026		35,333		25,845
Asia	58,849		24,091		14,298
Other foreign countries	14,270		20,392		11,355
Total net sales	$	1,837,641	$	1,277,862	$	1,130,583

	October 31,
Long-lived assets, net	2025		2024
United States	$	1,003,958	$	1,229,157
Europe	355,950		441,129
Other foreign countries	27,032		31,515
Total long-lived assets, net	$	1,386,940	$	1,701,801

Long-lived assets, net includes: property, plant and equipment, net; goodwill, intangible assets, net, and operating leases.