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Segment Reporting
9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Reporting SEGMENT REPORTING
The Company has two reportable segments, the OEM Segment and the Aftermarket Segment. Intersegment sales are insignificant.

The OEM Segment, which accounted for 77 percent and 76 percent of consolidated net sales for the nine months ended September 30, 2025 and 2024, respectively, manufactures and distributes a broad array of highly engineered components for the leading OEMs in the recreation and transportation markets, consisting of RVs and adjacent industries, including boats; buses; trailers used to haul boats, livestock, equipment, and other cargo; trucks; trains; manufactured homes; and modular housing. Approximately 54 percent of the Company's OEM Segment net sales for the nine months ended September 30, 2025 were of components for travel trailer and fifth-wheel RVs.

The Aftermarket Segment, which accounted for 23 percent and 24 percent of consolidated net sales for the nine months ended September 30, 2025 and 2024, respectively, supplies engineered components to the related aftermarket channels of the recreation and transportation markets, primarily to retail dealers, wholesale distributors, and service centers, as well as directly to retail customers via the Internet. The Aftermarket Segment also includes biminis, covers, buoys, and fenders to the marine industry, towing products, truck accessories, appliances, air conditioners, televisions, sound systems, tankless water heaters, and the sale of replacement glass and awnings to fulfill insurance claims.

The Company's chief operating decision maker ("CODM") is its President and Chief Executive Officer. The decisions concerning the allocation of the Company's resources are made by the CODM with oversight by the Board of Directors. The CODM evaluates the performance of each segment and makes decisions concerning the allocation of resources based upon segment operating profit, generally defined as income before interest expense and income taxes. Segment assets are not reviewed by the CODM and therefore are not disclosed below. Management of debt is a corporate function. The accounting policies of the OEM and Aftermarket Segments are the same as those described in Note 2 of the Notes to Consolidated Financial Statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2024.

The following tables present the Company's revenues disaggregated by segment and geography based on the billing address of the Company's customers:
Three Months Ended September 30, 2025Three Months Ended September 30, 2024
(In thousands)
U.S. (a)
Int’l (b)
Total
U.S. (a)
Int’l (b)
Total
OEM Segment:
RV OEMs:
Travel trailers and fifth-wheels$408,650 $3,822 $412,472 $363,746 $5,466 $369,212 
Motorhomes36,949 20,686 57,635 30,749 22,051 52,800 
Adjacent Industries OEMs275,216 44,700 319,916 219,200 43,249 262,449 
Total OEM Segment net sales720,815 69,208 790,023 613,695 70,766 684,461 
Aftermarket Segment:
Total Aftermarket Segment net sales225,036 21,418 246,454 211,490 19,546 231,036 
Total net sales$945,851 $90,626 $1,036,477 $825,185 $90,312 $915,497 
Nine Months Ended September 30, 2025Nine Months Ended September 30, 2024
(In thousands)
U.S. (a)
Int’l (b)
Total
U.S. (a)
Int’l (b)
Total
OEM Segment:
RV OEMs:
Travel trailers and fifth-wheels$1,312,208 $13,384 $1,325,592 $1,162,855 $23,469 $1,186,324 
Motorhomes109,652 68,963 178,615 103,642 81,616 185,258 
Adjacent Industries OEMs806,696 142,234 948,930 722,491 144,824 867,315 
Total OEM Segment net sales2,228,556 224,581 2,453,137 1,988,988 249,909 2,238,897 
Aftermarket Segment:
Total Aftermarket Segment net sales668,051 68,129 736,180 636,410 62,763 699,173 
Total net sales$2,896,607 $292,710 $3,189,317 $2,625,398 $312,672 $2,938,070 
(a) Net sales to customers in the United States of America
(b) Net sales to customers domiciled in countries outside of the United States of America

Corporate expenses are allocated between the segments based upon net sales. Accretion related to contingent consideration and other non-segment items are included in the segment to which they relate. Information relating to segments follows:

Three Months Ended September 30, 2025Three Months Ended September 30, 2024
(In thousands)
OEM
Aftermarket
Total
OEM
Aftermarket
Total
Net sales to external customers
$790,023 $246,454 $1,036,477 $684,461 $231,036 $915,497 
Cost of sales626,190 157,674 783,864 551,922 143,617 695,539 
Gross profit163,833 88,780 252,613 132,539 87,419 219,958 
Selling, general and administrative expenses120,263 56,911 177,174 110,714 55,356 166,070 
Operating profit$43,570 $31,869 $75,439 $21,825 $32,063 $53,888 
Nine Months Ended September 30, 2025Nine Months Ended September 30, 2024
(In thousands)
OEM
Aftermarket
Total
OEM
Aftermarket
Total
Net sales to external customers
$2,453,137 $736,180 $3,189,317 $2,238,897 $699,173 $2,938,070 
Cost of sales1,938,092 476,842 2,414,934 1,789,236 438,525 2,227,761 
Gross profit515,045 259,338 774,383 449,661 260,648 710,309 
Selling, general and administrative expenses357,818 172,005 529,823 344,438 163,768 508,206 
Operating profit$157,227 $87,333 $244,560 $105,223 $96,880 $202,103 
The following table presents the Company's revenue disaggregated by product:    
Three Months Ended 
September 30,
Nine Months Ended 
September 30,
(In thousands)2025202420252024
OEM Segment:
Chassis, chassis parts, and slide-out mechanisms$215,888 $196,175 $689,350 $638,248 
Windows and doors219,342 203,735 674,114 650,314 
Furniture and mattresses136,937 98,072 381,026 314,241 
Axles, ABS, and suspension solutions72,093 68,750 254,621 243,319 
Appliances75,067 59,325 240,158 199,941 
Other70,696 58,404 213,868 192,834 
Total OEM Segment net sales790,023 684,461 2,453,137 2,238,897 
Total Aftermarket Segment net sales246,454 231,036 736,180 699,173 
Total net sales$1,036,477 $915,497 $3,189,317 $2,938,070