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v3.25.2

Segment Operations (Tables) | 3 Months Ended
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Aug. 31, 2025
Segment Reporting [Abstract] |
Financial Information for Reportable Operating Segments | The following tables present summarized financial information for our reportable operating segments and Unallocated Corporate and Other for the periods indicated. A reconciliation from the GAAP financial measure of earnings (loss) before income taxes to the non-GAAP financial measure of adjusted EBITDA is provided directly following the summarized information below.
| Three Months Ended August 31, 2025 |
|  |  |  |  |  |  | Total |  |  |  |  |  |  |  |  |  |
| Consumer |  |  | Building |  |  | Reportable |  |  |  |  |  | Unallocated |  |  |  |
|  |  |  |  |  |  | Operating |  |  |  |  |  |  |  |  |  |
| Products |  |  | Products |  |  | Segments |  |  | Other |  |  | Corp |  |  | Consolidated |
Net sales | $ | 118,938 |  |  | $ | 184,769 |  |  | $ | 303,707 |  |  |  | - |  |  |  | - |  |  | $ | 303,707 |
Cost of goods sold |  | 79,972 |  |  |  | 141,399 |  |  |  | 221,371 |  |  |  | - |  |  |  | 52 |  |  |  | 221,423 |
SG&A |  | 27,710 |  |  |  | 33,636 |  |  |  | 61,346 |  |  |  | - |  |  |  | 9,219 |  |  |  | 70,565 |
Restructuring and other expense, net |  | 13 |  |  |  | 296 |  |  |  | 309 |  |  |  | - |  |  |  | 2,167 |  |  |  | 2,476 |
Other segment items (1) |  | 18 |  |  |  | 98 |  |  |  | 116 |  |  |  | - |  |  |  | 103 |  |  |  | 219 |
Equity in net income of unconsolidated affiliates |  | - |  |  |  | 38,320 |  |  |  | 38,320 |  |  |  | (1,663 | ) |  |  | - |  |  |  | 36,657 |
Earnings (loss) before income taxes |  | 11,225 |  |  |  | 47,660 |  |  |  | 58,885 |  |  |  | (1,663 | ) |  |  | (11,541 | ) |  |  | 45,681 |
Reconciling items to adjusted EBITDA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  | 3,858 |  |  |  | 9,036 |  |  |  | 12,894 |  |  |  | - |  |  |  | 192 |  |  |  | 13,086 |
Interest expense (income) |  | (2 | ) |  |  | (18 | ) |  |  | (20 | ) |  |  | - |  |  |  | 83 |  |  |  | 63 |
Stock-based compensation |  | 727 |  |  |  | 819 |  |  |  | 1,546 |  |  |  | - |  |  |  | 1,881 |  |  |  | 3,427 |
Restructuring and other expense, net |  | 13 |  |  |  | 296 |  |  |  | 309 |  |  |  | - |  |  |  | 2,167 |  |  |  | 2,476 |
Net loss attributable to noncontrolling interest |  | 327 |  |  |  | - |  |  |  | 327 |  |  |  | - |  |  |  | - |  |  |  | 327 |
Adjusted EBITDA | $ | 16,148 |  |  | $ | 57,793 |  |  | $ | 73,941 |  |  | $ | (1,663 | ) |  | $ | (7,218 | ) |  | $ | 65,060 |
| Three Months Ended August 31, 2024 |
|  |  |  |  |  |  | Total |  |  |  |  |  |  |  |  |  |
| Consumer |  |  | Building |  |  | Reportable |  |  |  |  |  | Unallocated |  |  |  |
|  |  |  |  |  |  | Operating |  |  |  |  |  |  |  |  |  |
| Products |  |  | Products |  |  | Segments |  |  | Other |  |  | Corp |  |  | Consolidated |
Net sales | $ | 117,596 |  |  | $ | 139,712 |  |  | $ | 257,308 |  |  | $ | - |  |  | $ | - |  |  | $ | 257,308 |
Cost of goods sold |  | 78,113 |  |  |  | 116,64 7 |  |  |  | 194,760 |  |  |  | - |  |  |  | 53 |  |  |  | 194,813 |
SG&A |  | 26,861 |  |  |  | 28,050 |  |  |  | 54,911 |  |  |  | - |  |  |  | 11,125 |  |  |  | 66,036 |
Restructuring and other expense, net |  | - |  |  |  | 289 |  |  |  | 289 |  |  |  | - |  |  |  | 869 |  |  |  | 1,158 |
Other segment items (1) |  | (15 | ) |  |  | (225 | ) |  |  | (240 | ) |  |  | - |  |  |  | 243 |  |  |  | 3 |
Equity in net income of unconsolidated affiliates |  | - |  |  |  | 36,645 |  |  |  | 36,645 |  |  |  | (1,153 | ) |  |  | - |  |  |  | 35,492 |
Earnings (loss) before income taxes |  | 12,637 |  |  |  | 31,596 |  |  |  | 44,233 |  |  |  | (1,153 | ) |  |  | (12,290 | ) |  |  | 30,790 |
Reconciling items to adjusted EBITDA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  | 4,336 |  |  |  | 7,294 |  |  |  | 11,630 |  |  |  | - |  |  |  | 200 |  |  |  | 11,830 |
Interest expense |  | - |  |  |  | 17 |  |  |  | 17 |  |  |  | - |  |  |  | 472 |  |  |  | 489 |
Stock-based compensation |  | 557 |  |  |  | 533 |  |  |  | 1,090 |  |  |  | - |  |  |  | 2,835 |  |  |  | 3,925 |
Restructuring and other expense, net |  | - |  |  |  | 289 |  |  |  | 289 |  |  |  | - |  |  |  | 869 |  |  |  | 1,158 |
Net loss attributable to noncontrolling interest |  | 245 |  |  |  | - |  |  |  | 245 |  |  |  | - |  |  |  | - |  |  |  | 245 |
Adjusted EBITDA | $ | 17,775 |  |  | $ | 39,729 |  |  | $ | 57,504 |  |  | $ | (1,153 | ) |  | $ | (7,914 | ) |  | $ | 48,437 |
(1) Other segment items consist of non-operating activity included in adjusted EBITDA, which is our segment profit measure. Total assets for each of our reportable operating segments at the dates indicated were as follows:
|  |  |  |  |  |  |  |  | August 31, |  |  | May 31, |
|  |  |  |  |  |  |  |  | 2025 |  |  | 2025 |
Consumer Products |  | $ | 534,316 |  |  | $ | 531,187 |
Building Products |  |  | 928,012 |  |  |  | 795,837 |
Total reportable operating segments |  |  | 1,462,328 |  |  |  | 1,327,024 |
Unallocated Corporate and Other |  |  |  |  |  |  |  |  |  | 275,809 |  |  |  | 368,128 |
Total assets |  | $ | 1,738,137 |  |  | $ | 1,695,152 |
Schedule of Capital Expenditures of Reportable Operating Segments | The following table presents capital expenditures for each of our reportable operating segments for the three months ended August 31, 2025 and August 31, 2024
|  |  |  |  |  |  |  |  | Three Months Ended |
|  |  |  |  |  |  |  |  | August 31, |
|  |  |  |  |  |  |  |  | 2025 |  |  | 2024 |
Consumer Products |  | $ | 9,041 |  |  | $ | 4,943 |
Building Products |  |  | 3,509 |  |  |  | 3,709 |
Total reportable operating segments |  |  | 12,550 |  |  |  | 8,652 |
Unallocated Corporate |  |  | 645 |  |  |  | 977 |
Total |  | $ | 13,195 |  |  | $ | 9,629 |

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