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v3.25.3

Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of Operating Segment Reporting Information | Financial information for our operating segments for the quarters and nine months ended September, 2025 and 2024 were as follows:
|  | (Unaudited) |
|  | Composite |  |  | Engineered |  |  | Corporate & |  |  |  |
(In millions) |  | Materials |  |  | Products |  |  | Other (a) |  |  | Total |
Quarter Ended September 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 363.2 |  |  | $ | 93.0 |  |  | $ | — |  |  | $ | 456.2 |
Intersegment sales |  |  | 18.9 |  |  |  | 1.4 |  |  |  | (20.3 | ) |  |  | — |
Total sales |  | $ | 382.1 |  |  | $ | 94.4 |  |  | $ | (20.3 | ) |  | $ | 456.2 |
Cost of sales |  |  | 300.1 |  |  |  | 75.2 |  |  |  | (19.0 | ) |  |  | 356.3 |
Gross margin |  |  | 81.9 |  |  |  | 19.3 |  |  |  | (1.3 | ) |  |  | 99.9 |
Selling, general and administrative expenses |  |  | 27.1 |  |  |  | 3.8 |  |  |  | 10.2 |  |  |  | 41.1 |
Research and technology expenses |  |  | 12.1 |  |  |  | 1.0 |  |  |  | 0.9 |  |  |  | 14.0 |
Other operating expense |  |  | 2.8 |  |  |  | 1.0 |  |  |  | 5.0 |  |  |  | 8.8 |
Operating income (loss) |  |  | 39.9 |  |  |  | 13.6 |  |  |  | (17.5 | ) |  |  | 36.0 |
Depreciation and amortization |  |  | 27.7 |  |  |  | 3.2 |  |  |  | — |  |  |  | 30.9 |
Stock-based compensation |  |  | 0.6 |  |  |  | 0.2 |  |  |  | 0.2 |  |  |  | 1.0 |
Accrual basis additions to capital expenditures |  |  | 16.7 |  |  |  | 1.4 |  |  |  | — |  |  |  | 18.1 |
Quarter Ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 367.6 |  |  | $ | 88.9 |  |  | $ | — |  |  | $ | 456.5 |
Intersegment sales |  |  | 22.6 |  |  |  | 0.1 |  |  |  | (22.7 | ) |  |  | — |
Total sales |  | $ | 390.2 |  |  | $ | 89.0 |  |  | $ | (22.7 | ) |  | $ | 456.5 |
Cost of sales |  |  | 298.4 |  |  |  | 72.2 |  |  |  | (20.6 | ) |  |  | 350.0 |
Gross margin |  |  | 91.8 |  |  |  | 16.8 |  |  |  | (2.1 | ) |  |  | 106.5 |
Selling, general and administrative expenses |  |  | 23.8 |  |  |  | 5.3 |  |  |  | 10.7 |  |  |  | 39.8 |
Research and technology expenses |  |  | 11.4 |  |  |  | 1.3 |  |  |  | 1.1 |  |  |  | 13.8 |
Other operating expense |  |  | 0.2 |  |  |  | 0.2 |  |  |  | — |  |  |  | 0.4 |
Operating income (loss) |  |  | 56.3 |  |  |  | 10.0 |  |  |  | (13.8 | ) |  |  | 52.5 |
Depreciation and amortization |  |  | 27.3 |  |  |  | 3.7 |  |  |  | — |  |  |  | 31.0 |
Stock-based compensation |  |  | 0.8 |  |  |  | 0.2 |  |  |  | 1.9 |  |  |  | 2.9 |
Accrual basis additions to capital expenditures |  |  | 16.0 |  |  |  | 2.5 |  |  |  | — |  |  |  | 18.5 |
Nine Months Ended September 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 1,121.7 |  |  | $ | 280.9 |  |  | $ | — |  |  | $ | 1,402.6 |
Intersegment sales |  |  | 58.4 |  |  |  | 2.1 |  |  |  | (60.5 | ) |  |  | — |
Total sales |  | $ | 1,180.1 |  |  | $ | 283.0 |  |  | $ | (60.5 | ) |  | $ | 1,402.6 |
Cost of sales |  |  | 909.3 |  |  |  | 236.6 |  |  |  | (57.1 | ) |  |  | 1,088.8 |
Gross margin |  |  | 270.7 |  |  |  | 46.5 |  |  |  | (3.4 | ) |  |  | 313.8 |
Selling, general and administrative expenses |  |  | 78.9 |  |  |  | 12.1 |  |  |  | 36.4 |  |  |  | 127.4 |
Research and technology expenses |  |  | 36.2 |  |  |  | 3.1 |  |  |  | 2.8 |  |  |  | 42.1 |
Other operating expense |  |  | 2.8 |  |  |  | 26.3 |  |  |  | 5.0 |  |  |  | 34.1 |
Operating income (loss) |  |  | 152.8 |  |  |  | 5.1 |  |  |  | (47.7 | ) |  |  | 110.2 |
Depreciation and amortization |  |  | 81.8 |  |  |  | 9.7 |  |  |  | — |  |  |  | 91.5 |
Stock-based compensation |  |  | 4.5 |  |  |  | 1.2 |  |  |  | 7.7 |  |  |  | 13.4 |
Accrual basis additions to capital expenditures |  |  | 45.3 |  |  |  | 4.6 |  |  |  | — |  |  |  | 49.9 |
Nine Months Ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Net sales to external customers |  | $ | 1,155.7 |  |  | $ | 273.5 |  |  | $ | — |  |  | $ | 1,429.2 |
Intersegment sales |  |  | 69.8 |  |  |  | 1.0 |  |  |  | (70.8 | ) |  |  | — |
Total sales |  | $ | 1,225.5 |  |  | $ | 274.5 |  |  | $ | (70.8 | ) |  | $ | 1,429.2 |
Cost of sales |  |  | 921.2 |  |  |  | 218.2 |  |  |  | (61.5 | ) |  |  | 1,077.9 |
Gross margin |  |  | 304.3 |  |  |  | 56.3 |  |  |  | (9.3 | ) |  |  | 351.3 |
Selling, general and administrative expenses |  |  | 72.4 |  |  |  | 15.9 |  |  |  | 40.4 |  |  |  | 128.7 |
Research and technology expenses |  |  | 36.5 |  |  |  | 3.7 |  |  |  | 3.4 |  |  |  | 43.6 |
Other operating expense |  |  | 1.0 |  |  |  | 0.8 |  |  |  | — |  |  |  | 1.8 |
Operating income (loss) |  |  | 194.3 |  |  |  | 35.9 |  |  |  | (53.0 | ) |  |  | 177.2 |
Depreciation and amortization |  |  | 81.8 |  |  |  | 11.2 |  |  |  | — |  |  |  | 93.0 |
Stock-based compensation |  |  | 5.0 |  |  |  | 1.3 |  |  |  | 13.0 |  |  |  | 19.3 |
Accrual basis additions to capital expenditures |  |  | 51.3 |  |  |  | 8.3 |  |  |  | — |  |  |  | 59.6 |
(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 |  |  | (0.4 | ) |  |  | (1.0 | ) |  |  | (1.4 | )
Currency translation adjustments |  |  | 7.6 |  |  |  | (2.0 | ) |  |  | 5.6 |
Balance at September 30, 2025 |  | $ | 90.3 |  |  | $ | 150.9 |  |  | $ | 241.2 |
Schedule of Segment Assets |
|  | Composite |  |  | Engineered |  |  | Corporate & |  |  |  |
(In millions) |  | Materials |  |  | Products |  |  | Other |  |  | Total |
Segment assets |  |  |  |  |  |  |  |  |  |  |  |
September 30, 2025 |  | $ | 2,318.6 |  |  | $ | 588.4 |  |  | $ | (148.6 | ) |  | $ | 2,758.4 |
December 31, 2024 |  |  | 2,147.6 |  |  |  | 541.4 |  |  |  | 36.6 |  |  |  | 2,725.6 |

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