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v3.25.2

Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Schedule of Operating Segment Reporting Information | Financial information for our operating segments for the quarters and six months ended June 30, 2025 and 2024 were as follows:
|  | Composite |  |  | Engineered |  |  | Corporate & |  |  |  |
(In millions) |  | Materials |  |  | Products |  |  | Other (a) |  |  | Total |
Quarter Ended June 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 393.2 |  |  | $ | 96.7 |  |  | $ | — |  |  | $ | 489.9 |
Intersegment sales |  |  | 19.4 |  |  |  | 0.4 |  |  |  | (19.8 | ) |  |  | — |
Total sales |  |  | 412.6 |  |  |  | 97.1 |  |  |  | (19.8 | ) |  |  | 489.9 |
Cost of sales |  |  | 315.7 |  |  |  | 81.5 |  |  |  | (18.8 | ) |  |  | 378.4 |
Gross margin |  |  | 96.9 |  |  |  | 15.6 |  |  |  | (1.0 | ) |  |  | 111.5 |
Selling, general and administrative expenses |  |  | 26.3 |  |  |  | 4.0 |  |  |  | 12.7 |  |  |  | 43.0 |
Research and technology expenses |  |  | 12.3 |  |  |  | 1.0 |  |  |  | 1.0 |  |  |  | 14.3 |
Other operating expense |  |  | — |  |  |  | 24.2 |  |  |  | — |  |  |  | 24.2 |
Operating income (loss) |  |  | 58.3 |  |  |  | (13.6 | ) |  |  | (14.7 | ) |  |  | 30.0 |
Depreciation and amortization |  |  | 26.9 |  |  |  | 2.7 |  |  |  | — |  |  |  | 29.6 |
Stock-based compensation |  |  | 0.9 |  |  |  | 0.2 |  |  |  | 1.6 |  |  |  | 2.7 |
Accrual basis additions to capital expenditures |  |  | 13.1 |  |  |  | 1.6 |  |  |  | — |  |  |  | 14.7 |
Quarter Ended June 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 408.6 |  |  | $ | 91.8 |  |  | $ | — |  |  | $ | 500.4 |
Intersegment sales |  |  | 23.9 |  |  |  | 0.6 |  |  |  | (24.5 | ) |  |  | — |
Total sales |  |  | 432.5 |  |  |  | 92.4 |  |  |  | (24.5 | ) |  |  | 500.4 |
Cost of sales |  |  | 322.5 |  |  |  | 72.7 |  |  |  | (21.4 | ) |  |  | 373.8 |
Gross margin |  |  | 110.0 |  |  |  | 19.7 |  |  |  | (3.1 | ) |  |  | 126.6 |
Selling, general and administrative expenses |  |  | 23.2 |  |  |  | 5.3 |  |  |  | 11.4 |  |  |  | 39.9 |
Research and technology expenses |  |  | 12.5 |  |  |  | 1.2 |  |  |  | 1.0 |  |  |  | 14.7 |
Other operating expense |  |  | — |  |  |  | 0.2 |  |  |  | — |  |  |  | 0.2 |
Operating income (loss) |  |  | 74.3 |  |  |  | 13.0 |  |  |  | (15.5 | ) |  |  | 71.8 |
Depreciation and amortization |  |  | 27.3 |  |  |  | 3.7 |  |  |  | — |  |  |  | 31.0 |
Stock-based compensation |  |  | 1.1 |  |  |  | 0.3 |  |  |  | 1.9 |  |  |  | 3.3 |
Accrual basis additions to capital expenditures |  |  | 18.6 |  |  |  | 3.9 |  |  |  | — |  |  |  | 22.5 |
Six Months Ended June 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 758.5 |  |  | $ | 187.9 |  |  | $ | — |  |  | $ | 946.4 |
Intersegment sales |  |  | 39.5 |  |  |  | 0.7 |  |  |  | (40.2 | ) |  |  | — |
Total sales |  |  | 798.0 |  |  |  | 188.6 |  |  |  | (40.2 | ) |  |  | 946.4 |
Cost of sales |  |  | 609.2 |  |  |  | 161.4 |  |  |  | (38.1 | ) |  |  | 732.5 |
Gross margin |  |  | 188.8 |  |  |  | 27.2 |  |  |  | (2.1 | ) |  |  | 213.9 |
Selling, general and administrative expenses |  |  | 51.8 |  |  |  | 8.3 |  |  |  | 26.2 |  |  |  | 86.3 |
Research and technology expenses |  |  | 24.1 |  |  |  | 2.1 |  |  |  | 1.9 |  |  |  | 28.1 |
Other operating expense |  |  | — |  |  |  | 25.3 |  |  |  | — |  |  |  | 25.3 |
Operating income (loss) |  |  | 112.9 |  |  |  | (8.5 | ) |  |  | (30.2 | ) |  |  | 74.2 |
Depreciation and amortization |  |  | 54.1 |  |  |  | 6.5 |  |  |  | — |  |  |  | 60.6 |
Stock-based compensation |  |  | 3.9 |  |  |  | 1.0 |  |  |  | 7.5 |  |  |  | 12.4 |
Accrual basis additions to capital expenditures |  |  | 28.6 |  |  |  | 3.2 |  |  |  | — |  |  |  | 31.8 |
Six Months Ended June 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 788.1 |  |  | $ | 184.6 |  |  | $ | — |  |  | $ | 972.7 |
Intersegment sales |  |  | 47.2 |  |  |  | 0.9 |  |  |  | (48.1 | ) |  |  | — |
Total sales |  | $ | 835.3 |  |  | $ | 185.5 |  |  | $ | (48.1 | ) |  | $ | 972.7 |
Cost of sales |  |  | 622.8 |  |  |  | 146.0 |  |  |  | (40.9 | ) |  |  | 727.9 |
Gross margin |  |  | 212.5 |  |  |  | 39.5 |  |  |  | (7.2 | ) |  |  | 244.8 |
Selling, general and administrative expenses |  |  | 48.6 |  |  |  | 10.6 |  |  |  | 29.7 |  |  |  | 88.9 |
Research and technology expenses |  |  | 25.1 |  |  |  | 2.4 |  |  |  | 2.3 |  |  |  | 29.8 |
Other operating expense |  |  | 0.8 |  |  |  | 0.6 |  |  |  | — |  |  |  | 1.4 |
Operating income (loss) |  |  | 138.0 |  |  |  | 25.9 |  |  |  | (39.2 | ) |  |  | 124.7 |
Depreciation and amortization |  |  | 54.5 |  |  |  | 7.5 |  |  |  | — |  |  |  | 62.0 |
Stock-based compensation |  |  | 4.2 |  |  |  | 1.1 |  |  |  | 11.1 |  |  |  | 16.4 |
Accrual basis additions to capital expenditures |  |  | 35.3 |  |  |  | 5.8 |  |  |  | — |  |  |  | 41.1 |
(a) We do not allocate corporate expenses to the operating segments.
Schedule of Goodwill and Intangible Assets by Segment |
Goodwill and Intangible Assets |  | Composite |  |  | Engineered |  |  |  |
(In millions) |  | Materials |  |  | Products |  |  | Total |
Balance at December 31, 2024 |  | $ | 83.1 |  |  | $ | 153.9 |  |  | $ | 237.0 |
Amortization expense |  |  | (0.8 | ) |  |  | (2.0 | ) |  |  | (2.8 | )
Currency translation adjustments |  |  | 8.9 |  |  |  | 0.1 |  |  |  | 9.0 |
Balance at June 30, 2025 |  | $ | 91.2 |  |  | $ | 152.0 |  |  | $ | 243.2 |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] |
|  | Composite |  |  | Engineered |  |  | Corporate & |  |  |  |
(In millions) |  | Materials |  |  | Products |  |  | Other (a) |  |  | Total |
Segment assets |  |  |  |  |  |  |  |  |  |  |  |
June 30, 2025 |  | $ | 2,374.8 |  |  | $ | 593.0 |  |  | $ | (124.5 | ) |  | $ | 2,843.3 |
December 31, 2024 |  |  | 2,147.6 |  |  |  | 541.4 |  |  |  | 36.6 |  |  |  | 2,725.6 |

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