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Segment Information (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Segment activity is as follows (dollars in thousands):

						Packaging						Aerospace						Specialty Products						Total
Three Months Ended March 31, 2025
Net sales						$	127,570					$	89,210					$	24,890					$	241,670
Adjusted cost of sales (a)						(95,650)						(64,850)						(23,430)
Adjusted selling, general and administrative expenses (b)						(14,090)						(9,130)						(1,370)
Other segment items (c)						(10)						—						—
Segment adjusted operating profit						$	17,820					$	15,230					$	90					$	33,140
Corporate (d)																								(9,380)
Business realignment and severance costs																								(1,820)
Purchase accounting costs																								(160)
Interest expense																								(4,520)
Other income (expense), net																								(100)
Income before income tax expense																								$	17,160
Three Months Ended March 31, 2024
Net sales						$	127,020					$	67,340					$	32,740					$	227,100
Adjusted cost of sales (a)						(94,650)						(51,770)						(27,860)
Adjusted selling, general and administrative expenses (b)						(14,400)						(8,450)						(2,270)
Other segment items (c)						50						10						—
Segment adjusted operating profit						$	18,020					$	7,130					$	2,610					$	27,760
Corporate (e)																								(14,410)
Business realignment and severance costs																								(910)
Interest expense																								(4,930)
Other income (expense), net																								(320)
Income before income tax expense																								$	7,190

__________________________

(a) Adjusted cost of sales is defined as cost of sales excluding Special Items.

(b) Adjusted selling, general and administrative expenses is defined as selling, general and administrative expenses excluding Special Items.

(c) Other segment items for each reportable segment includes net gain (loss) on dispositions of assets excluding Special Items.

(d) Includes $5.3 million gain on the sale of Arrow Engine, $4.7 million of realignment, severance and consulting costs, $0.9 million of system implementation costs, and $0.3 million of mergers, acquisition, diligence and transaction costs.

(e) Includes $1.2 million of mergers, acquisition, diligence and transaction costs, and $1.0 million of system implementation costs, and $0.7 million of consulting costs.

												Three months ended March 31,
																		2025						2024
Capital expenditures
Packaging																		$	7,980					$	8,480
Aerospace																		2,490						1,430
Specialty Products																		1,060						2,900
Corporate																		1,410						440
Total																		$	12,940					$	13,250
Depreciation and amortization
Packaging																		$	8,330					$	8,570
Aerospace																		4,600						4,570
Specialty Products																		820						1,010
Corporate																		80						40
Total																		$	13,830					$	14,190

						March 31, 2025						December 31, 2024
Total Assets
Packaging						$	840,550					$	811,190
Aerospace						445,050						390,980
Specialty Products						74,910						89,210
Corporate						33,240						32,800
Total						$	1,393,750					$	1,324,180

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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- References

No definition available.

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