XML 45 R34.htm IDEA: XBRL DOCUMENT v3.25.4
Business Segment Data (Tables)
9 Months Ended
Nov. 29, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information
Three Months Ended November 29, 2025
(In thousands)Architectural MetalsArchitectural ServicesArchitectural GlassPerformance SurfacesTotal
Net sales$124,245 $105,166 $66,172 $52,980 $348,563 
Intersegment net sales188 — 4,680 — 4,868 
     Total segment net sales 124,433 105,166 70,852 52,980 353,431 
Adjusted cost of sales (1)
(89,437)(86,747)(52,307)(35,776)(264,267)
Adjusted SG&A (2)
(21,908)(9,030)(10,378)(9,196)(50,512)
Adjusted other expense, net (3)
— — (12)— (12)
Adjusted depreciation and amortization3,662 809 3,379 3,913 11,763 
Adjusted EBITDA$16,750 $10,198 $11,534 $11,921 $50,403 
Three Months Ended November 30, 2024
(In thousands)Architectural MetalsArchitectural ServicesArchitectural GlassPerformance SurfacesTotal
Net sales$138,019 $104,921 $65,208 $33,196 $341,344 
Intersegment net sales20 — 5,028 — 5,048 
     Total segment net sales138,039 104,921 70,236 33,196 346,392 
Adjusted cost of sales (1)
(100,397)(84,402)(50,033)(21,747)(256,579)
Adjusted SG&A (2)
(24,090)(11,505)(10,086)(5,276)(50,957)
Adjusted other expense, net (3)
— — (6)— (6)
Adjusted depreciation and amortization3,932 981 3,069 2,461 10,443 
Adjusted EBITDA$17,484 $9,995 $13,180 $8,634 $49,293 
Nine Months Ended November 29, 2025
(In thousands)Architectural MetalsArchitectural ServicesArchitectural GlassPerformance SurfacesTotal
Net sales$393,763 $312,161 $203,835 $143,620 $1,053,379 
Intersegment net sales228 — 12,471 — 12,699 
     Total segment net sales393,991 312,161 216,306 143,620 1,066,078 
Adjusted cost of sales (1)
(287,218)(263,377)(157,278)(95,933)(803,806)
Adjusted SG&A (2)
(71,056)(30,294)(32,323)(27,838)(161,511)
Adjusted other expense, net (3)
— — (77)— (77)
Adjusted depreciation and amortization11,229 2,789 9,970 11,251 35,239 
Adjusted EBITDA$46,946 $21,279 $36,598 $31,100 $135,923 
Nine Months Ended November 30, 2024
(In thousands)Architectural MetalsArchitectural ServicesArchitectural GlassPerformance SurfacesTotal
Net sales$412,469 $301,966 $226,633 $74,232 $1,015,300 
Intersegment net sales92 — 20,407 — 20,499 
     Total segment net sales412,561 301,966 247,040 74,232 1,035,799 
Adjusted cost of sales (1)
(287,846)(246,622)(167,058)(46,583)(748,109)
Adjusted SG&A (2)
(73,773)(34,320)(31,706)(12,837)(152,636)
Adjusted other income, net (3)
— — 116 — 116 
Adjusted depreciation and amortization12,609 2,887 9,158 4,046 28,700 
Adjusted EBITDA$63,551 $23,911 $57,551 $18,858 $163,871 
(1)
Adjusted cost of sales excludes $0.1 million and $3.4 million related to acquisition and restructuring expense, respectively, for the three months ended November 29, 2025, and excludes $0.5 million and $13.3 million related to acquisition and restructuring expense, respectively, for the nine months ended November 29, 2025. Adjusted cost of sales excludes $0.1 million of income and $1.3 million of expense related to restructuring for the three and nine months ended November 30, 2024, respectively. For the three and nine months ended November 30, 2024, adjusted cost of sales excludes $0.4 million related to acquisition expense. These adjustments are described in greater detail in the reconciliation below.
(2)
Adjusted SG&A expense excludes $0.2 million and $1.0 million related to acquisition and restructuring expense, respectively, for the three months ended November 29, 2025, and excludes $1.2 million and $6.9 million related to acquisition and restructuring expense, respectively, for the nine months ended November 29, 2025. Adjusted SG&A expense excludes $0.3 million and $1.0 million related to restructuring expense for the three and nine months ended November 30, 2024, respectively. For the three and nine months ended November 30, 2024, adjusted SG&A excludes $0.9 million related to acquisition expense. These adjustments are described in greater detail in the reconciliation below.
(3)
Adjusted other income, net excludes $2.1 million and $6.7 million of NMTC gain recognized for the three and nine months ended November 29, 2025, respectively.
The following table presents the reconciliation of adjusted EBITDA to net earnings, the nearest measurement under U.S. GAAP:
Three Months EndedNine Months Ended
(In thousands)November 29,
2025
November 30,
2024
November 29,
2025
November 30,
2024
Segment Adjusted EBITDA$50,403 $49,293 $135,923 $163,871 
Corporate and Other Expenses(8,033)(8,014)(17,636)(16,978)
Segment acquisition-related costs (1)
(259)(1,331)(1,723)(1,331)
Segment restructuring costs (2)
(4,401)(125)(20,233)(2,296)
Depreciation and amortization(12,516)(11,134)(37,456)(30,798)
Other income (3)
2,143 — 6,740 — 
Interest expense, net(3,227)(1,044)(11,148)(2,634)
Income tax expense(7,561)(6,656)(16,956)(27,268)
Net earnings$16,549 $20,989 $37,511 $82,566 
(1)
Acquisition-related costs include costs related to one-time expenses incurred to integrate the UW Solutions acquisition.
(2)Segment restructuring charges related to Project Fortify.
(3)
Other income, net includes $2.1 million and $6.7 million of NMTC gain recognized for the three and nine months ended November 29, 2025, respectively.