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Segment Information
 6 Months Ended
Sep. 27, 2025
Segment Reporting [Abstract]  
Segment Information

13. Segment Information

Financial results for the Company's reportable segments have been prepared using a management approach, which is consistent with the basis and manner in which financial information is evaluated by the Company's chief operating decision maker in allocating resources and in assessing performance. The Company’s chief operating decision maker, the Chief Executive Officer, evaluates the performance of the Company’s segments primarily based on net sales, before elimination of inter-company shipments, earnings before interest, taxes, depreciation, and amortization (“EBITDA”) and operating assets.

The Company operates in two reportable segments: (i) U.S. Factory-built Housing, which includes manufacturing and retail housing operations and (ii) Canadian Factory-built Housing. Corporate/Other includes the Company’s transportation operations, the Company's financing activities, corporate costs directly incurred for all segments and intersegment eliminations. Segments are generally determined by geography. Segment data includes intersegment revenues and corporate office costs that are directly and exclusively incurred for each segment. Total assets for Corporate/Other primarily include cash and certain U.S. deferred tax items not specifically allocated to another segment.

Beginning in fiscal 2025, the Company adopted ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures". Selected financial information by reportable segment was as follows:

 

 

 

Three months ended September 27, 2025

 

(Dollars in thousands)

 

U.S. Factory-built Housing

 

 

Canadian Factory-built Housing

 

 

Corporate/Other

 

 

Consolidated

 

Net sales

 

$

649,056

 

 

$

26,118

 

 

$

9,255

 

 

$

684,429

 

Cost of sales(1)

 

 

(469,627

)

 

 

(18,252

)

 

 

(1,537

)

 

 

 

Selling, general, and administrative expenses(2)

 

 

(79,511

)

 

 

(5,126

)

 

 

(23,902

)

 

 

 

Other items(3)

 

 

—

 

 

 

—

 

 

 

(2,100

)

 

 

 

Segment EBITDA

 

$

99,918

 

 

$

2,740

 

 

$

(18,284

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Factory-built Housing EBITDA

 

 

 

 

 

 

 

 

 

 

$

99,918

 

Canadian Factory-built Housing EBITDA

 

 

 

 

 

 

 

 

 

 

 

2,740

 

Corporate/Other EBITDA

 

 

 

 

 

 

 

 

 

 

 

(18,284

)

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

(11,658

)

Interest income, net

 

 

 

 

 

 

 

 

 

 

 

4,034

 

Equity in net loss of affiliate

 

 

 

 

 

 

 

 

 

 

 

125

 

Net income attributable to non-controlling interest

 

 

 

 

 

 

 

 

 

 

 

1,895

 

Income before income taxes

 

 

 

 

 

 

 

 

 

 

$

78,770

 

Depreciation

 

$

8,038

 

 

$

467

 

 

$

161

 

 

$

8,666

 

Amortization

 

$

2,992

 

 

$

—

 

 

$

—

 

 

$

2,992

 

Expenditure for segment assets

 

$

8,258

 

 

$

139

 

 

$

519

 

 

$

8,916

 

Segment assets(4)

 

$

1,298,899

 

 

$

145,829

 

 

$

676,077

 

 

$

2,120,805

 

 

(1)
Cost of sales is presented net of depreciation expense.
(2)
Selling, general, and administrative expenses are presented net of depreciation and amortization expense.
(3)
Other items for Corporate/Other include equity in net loss of affiliates and non-controlling interest.
(4)
Deferred tax assets for the Canadian operations are reflected in the Canadian Factory-built Housing segment. U.S. deferred tax assets are presented in Corporate/Other because an allocation between segments is not practicable.

 

 

 

Six months ended September 27, 2025

 

(Dollars in thousands)

 

U.S. Factory-built Housing

 

 

Canadian Factory-built Housing

 

 

Corporate/Other

 

 

Consolidated

 

Net sales

 

$

1,310,987

 

 

$

56,238

 

 

$

18,522

 

 

$

1,385,747

 

Cost of sales(1)

 

 

(950,096

)

 

 

(39,669

)

 

 

(3,651

)

 

 

 

Selling, general, and administrative expenses(2)

 

 

(161,873

)

 

 

(10,821

)

 

 

(42,740

)

 

 

 

Other items(3)

 

 

—

 

 

 

—

 

 

 

(2,771

)

 

 

 

Segment EBITDA

 

$

199,018

 

 

$

5,748

 

 

$

(30,640

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Factory-built Housing EBITDA

 

 

 

 

 

 

 

 

 

 

$

199,018

 

Canadian Factory-built Housing EBITDA

 

 

 

 

 

 

 

 

 

 

 

5,748

 

Corporate/Other EBITDA

 

 

 

 

 

 

 

 

 

 

 

(30,640

)

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

(23,560

)

Interest income, net

 

 

 

 

 

 

 

 

 

 

 

8,570

 

Equity in net loss of affiliate

 

 

 

 

 

 

 

 

 

 

 

710

 

Net income attributable to non-controlling interest

 

 

 

 

 

 

 

 

 

 

 

3,201

 

Income before income taxes

 

 

 

 

 

 

 

 

 

 

$

163,047

 

Depreciation

 

$

16,413

 

 

$

927

 

 

$

323

 

 

$

17,663

 

Amortization

 

$

5,897

 

 

$

—

 

 

$

—

 

 

$

5,897

 

Expenditure for segment assets

 

$

16,435

 

 

$

493

 

 

$

889

 

 

$

17,817

 

Segment assets(4)

 

$

1,298,899

 

 

$

145,829

 

 

$

676,077

 

 

$

2,120,805

 

 

(1)
Cost of sales is presented net of depreciation expense.
(2)
Selling, general, and administrative expenses are presented net of depreciation and amortization expense.
(3)
Other items for Corporate/Other include dividend income, equity in net loss of affiliates, and non-controlling interest.
(4)
Deferred tax assets for the Canadian operations are reflected in the Canadian Factory-built Housing segment. U.S. deferred tax assets are presented in Corporate/Other because an allocation between segments is not practicable.

 

 

 

Three months ended September 28, 2024

 

(Dollars in thousands)

 

U.S. Factory-built Housing

 

 

Canadian Factory-built Housing

 

 

Corporate/Other

 

 

Consolidated

 

Net sales

 

$

587,127

 

 

$

22,234

 

 

$

7,516

 

 

$

616,877

 

Cost of sales(1)

 

 

(425,490

)

 

 

(16,981

)

 

 

(2,339

)

 

 

 

Selling, general, and administrative expenses(2)

 

 

(73,189

)

 

 

(2,274

)

 

 

(20,416

)

 

 

 

Other items(3)

 

 

—

 

 

 

—

 

 

 

(1,288

)

 

 

 

Segment EBITDA

 

$

88,448

 

 

$

2,979

 

 

$

(16,527

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Factory-built Housing EBITDA

 

 

 

 

 

 

 

 

 

 

$

88,448

 

Canadian Factory-built Housing EBITDA

 

 

 

 

 

 

 

 

 

 

 

2,979

 

Corporate/Other EBITDA

 

 

 

 

 

 

 

 

 

 

 

(16,527

)

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

(9,511

)

Interest income, net

 

 

 

 

 

 

 

 

 

 

 

4,737

 

Equity in net loss of affiliate

 

 

 

 

 

 

 

 

 

 

 

691

 

Net income attributable to non-controlling interest

 

 

 

 

 

 

 

 

 

 

 

584

 

Income before income taxes

 

 

 

 

 

 

 

 

 

 

$

71,401

 

Depreciation

 

$

5,943

 

 

$

448

 

 

$

152

 

 

$

6,543

 

Amortization

 

$

2,968

 

 

$

—

 

 

$

—

 

 

$

2,968

 

Expenditure for segment assets

 

$

12,465

 

 

$

448

 

 

$

1,202

 

 

$

14,115

 

Segment assets(4)

 

$

1,251,635

 

 

$

137,703

 

 

$

638,334

 

 

$

2,027,672

 

 

(1)
Cost of sales is presented net of depreciation expense.
(2)
Selling, general, and administrative expenses are presented net of depreciation and amortization expense.
(3)
Other items for Corporate/Other include equity in net loss of affiliate and non-controlling interest.
(4)
Deferred tax assets for the Canadian operations are reflected in the Canadian Factory-built Housing segment. U.S. deferred tax assets are presented in Corporate/Other because an allocation between segments is not practicable.

 

 

 

Six months ended September 28, 2024

 

(Dollars in thousands)

 

U.S. Factory-built Housing

 

 

Canadian Factory-built Housing

 

 

Corporate/Other

 

 

Consolidated

 

Net sales

 

$

1,186,660

 

 

$

43,033

 

 

$

14,963

 

 

$

1,244,656

 

Cost of sales(1)

 

 

(864,511

)

 

 

(32,020

)

 

 

(5,264

)

 

 

 

Selling, general, and administrative expenses(2)

 

 

(154,680

)

 

 

(5,155

)

 

 

(40,839

)

 

 

 

Other items(3)

 

 

—

 

 

 

—

 

 

 

(1,411

)

 

 

 

Segment EBITDA

 

$

167,469

 

 

$

5,858

 

 

$

(32,551

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Factory-built Housing EBITDA

 

 

 

 

 

 

 

 

 

 

$

167,469

 

Canadian Factory-built Housing EBITDA

 

 

 

 

 

 

 

 

 

 

 

5,858

 

Corporate/Other EBITDA

 

 

 

 

 

 

 

 

 

 

 

(32,551

)

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

(20,123

)

Interest income, net

 

 

 

 

 

 

 

 

 

 

 

8,986

 

Equity in net loss of affiliate

 

 

 

 

 

 

 

 

 

 

 

2,034

 

Net income attributable to non-controlling interest

 

 

 

 

 

 

 

 

 

 

 

584

 

Income before income taxes

 

 

 

 

 

 

 

 

 

 

$

132,257

 

Depreciation

 

$

13,048

 

 

$

885

 

 

$

312

 

 

$

14,245

 

Amortization

 

$

5,878

 

 

$

—

 

 

$

—

 

 

$

5,878

 

Expenditure for segment assets

 

$

21,992

 

 

$

874

 

 

$

1,961

 

 

$

24,827

 

Segment assets(4)

 

$

1,251,635

 

 

$

137,703

 

 

$

638,334

 

 

$

2,027,672

 

 

(1)
Cost of sales is presented net of depreciation expense.
(2)
Selling, general, and administrative expenses are presented net of depreciation and amortization expense.
(3)
Other items for Corporate/Other include dividend income, equity in net loss of affiliates, and non-controlling interest.
(4)
Deferred tax assets for the Canadian operations are reflected in the Canadian Factory-built Housing segment. U.S. deferred tax assets are presented in Corporate/Other because an allocation between segments is not practicable.