SEGMENTS (Tables)

12 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Summary of Residential and Commercial Segment Reporting Information

The segment data below includes data for Residential and Commercial for the years ended and as of September 30, 2024, 2023 and 2022 (in thousands).

	Years Ended and As of September 30,
	Residential						Commercial						Total
	2024		2023		2022		2024		2023		2022		2024		2023		2022
Net Sales	$	1,368,813	$	1,222,866	$	1,168,751	$	72,635	$	147,450	$	186,835	$	1,441,448	$	1,370,316	$	1,355,586
Adjusted EBITDA(1)	365,273		252,830		250,130		14,068		31,008		40,255		379,341		283,838		290,385
Capital Expenditures(1)	76,755		84,224		165,293		392		4,321		5,645		77,147		88,545		170,938
Depreciation and Amortization(1)	127,102		123,755		109,201		1,940		8,789		9,332		129,042		132,544		118,533
Goodwill	953,882		953,882		953,606		13,934		40,389		40,389		967,816		994,271		993,995
Total Assets(1)	2,093,486		2,151,011		2,184,803		74,225		192,865		186,824		2,167,711		2,343,876		2,371,627

(1)Effective as of December 31, 2023, Residential segment Adjusted EBITDA includes all corporate expenses, such as selling, general and administrative costs related to our corporate offices, including payroll and other professional fees. In connection with this change, Residential segment Capital Expenditures, Depreciation and Amortization, and Total Assets also include corporate portions. The prior periods have been recast to reflect the change.

	Years Ended September 30,
	2024		2023		2022
Segment Adjusted EBITDA
Residential(1)	$	365,273	$	252,830	$	250,130
Commercial	14,068		31,008		40,255
Total Adjusted EBITDA for reporting segments	$	379,341	$	283,838	$	290,385
Adjustments to income before income tax provision
Depreciation and amortization	(129,042)		(132,544)		(118,533)
Stock-based compensation costs	(25,835)		(18,704)		(18,105)
Acquisition and divestiture costs(2)	(1,284)		(6,890)		(13,406)
Gain on sale of business(3)	37,688		—		—
Secondary offering costs	—		(1,065)		—
Inventories(4)	—		—		(19,297)
Other costs(5)	(11,091)		(843)		(2,764)
Interest expense, net	(40,253)		(39,293)		(24,956)
Income before income taxes	$	209,524	$	84,499	$	93,324

_____________________________

(1)Effective as of December 31, 2023, Residential segment Adjusted EBITDA includes all corporate expenses, such as selling, general and administrative costs related to our corporate offices, including payroll and other professional fees. The prior periods have been recast to reflect the change.

(2)Acquisition and divestiture costs reflect costs directly related to completed acquisitions of $0.5 million, $3.9 million and $11.5 million for fiscal years 2024, 2023 and 2022, respectively, costs related to divestitures of $0.5 million, $3.0 million and $0.5 million for fiscal years 2024, 2023 and 2022, respectively, and inventory step-up adjustments related to recording the inventory of acquired businesses at fair value on the date of acquisition of $0.3 million and $1.4 million for fiscal years 2024 and 2022, respectively.

(3)Gain on sale of business relates to the sale of the Vycom business.

(4)During the fourth quarter of fiscal year 2022, the Company updated the process by which it estimates the value of its inventory. This included updating the assumptions that are used in determining and treating certain capitalized costs, primarily by incorporating the impacts of changes in the amount of recycled content introduced into its products.

(5)Other costs reflect costs related to the Restatement (as defined in Item 1A “Risk Factors” included elsewhere in this Annual Report) of $5.9 million for fiscal year 2024, costs related to removal of dispensable equipment resulting from a modification of the Company's manufacturing process of $2.4 million for fiscal year 2024, reduction in workforce costs of $0.3 million, $0.5 million and $1.6 million for fiscal years 2024, 2023 and 2022, respectively, costs for legal expenses of $1.8 million, $0.3 million and $0.9 million for fiscal years 2024, 2023 and 2022, respectively, other costs of $0.7 million and $0.2 million for fiscal years 2024 and 2022, costs related to an incentive plan and other ancillary expenses associated with the initial public offering of $0.1 million for fiscal year 2022.