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Segment Information (Tables) | 9 Months Ended
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Sep. 30, 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 September 30, 2025 |  |  |  |  |  |  |  |
Net sales |  | $ | 135,700 |  |  | $ | 103,240 |  |  | $ | 30,320 |  |  | $ | 269,260 |
Cost of sales |  | (104,980) |  |  | (71,800) |  |  | (26,570) |  |  |
Selling, general and administrative expenses |  | (14,440) |  |  | (11,070) |  |  | (1,310) |  |  |
Other segment items (a) |  | 10 |  |  | (170) |  |  | (70) |  |  |
Segment operating profit |  | $ | 16,290 |  |  | $ | 20,200 |  |  | $ | 2,370 |  |  | $ | 38,860 |
Corporate (b) |  |  |  |  |  |  |  | (22,270) |
Interest expense |  |  |  |  |  |  |  | (4,370) |
Other income (expense), net |  |  |  |  |  |  |  | (100) |
Income before income tax expense |  |  |  |  |  |  |  | $ | 12,120 |
Three Months Ended September 30, 2024 |  |  |  |  |  |  |  |
Net sales |  | $ | 130,240 |  |  | $ | 70,830 |  |  | $ | 28,290 |  |  | $ | 229,360 |
Cost of sales |  | (99,240) |  |  | (54,330) |  |  | (24,070) |  |  |
Selling, general and administrative expenses |  | (14,190) |  |  | (10,180) |  |  | (1,840) |  |  |
Other segment items (a) |  | 1,120 |  |  | (10) |  |  | (90) |  |  |
Segment operating profit |  | $ | 17,930 |  |  | $ | 6,310 |  |  | $ | 2,290 |  |  | $ | 26,530 |
Corporate (c) |  |  |  |  |  |  |  | (18,250) |
Interest expense |  |  |  |  |  |  |  | (4,860) |
Other income (expense), net |  |  |  |  |  |  |  | (30) |
Income before income tax expense |  |  |  |  |  |  |  | $ | 3,390 |
Nine Months Ended September 30, 2025 |  |  |  |  |  |  |  |
Net sales |  | $ | 406,280 |  |  | $ | 295,460 |  |  | $ | 83,950 |  |  | $ | 785,690 |
Cost of sales |  | (308,550) |  |  | (208,050) |  |  | (76,430) |  |  |
Selling, general and administrative expenses |  | (44,190) |  |  | (31,830) |  |  | (4,970) |  |  |
Other segment items (a) |  | (20) |  |  | (170) |  |  | (70) |  |  |
Segment operating profit |  | $ | 53,520 |  |  | $ | 55,410 |  |  | $ | 2,480 |  |  | $ | 111,410 |
Corporate (d) |  |  |  |  |  |  |  | (45,910) |
Interest expense |  |  |  |  |  |  |  | (13,440) |
Other income (expense), net |  |  |  |  |  |  |  | (430) |
Income before income tax expense |  |  |  |  |  |  |  | $ | 51,630 |
|  | Packaging |  | Aerospace |  | Specialty Products |  | Total
Nine Months Ended September 30, 2024 |  |  |  |  |  |  |  |
Net sales |  | $ | 389,190 |  |  | $ | 215,890 |  |  | $ | 91,880 |  |  | $ | 696,960 |
Cost of sales |  | (293,820) |  |  | (164,550) |  |  | (80,170) |  |  |
Selling, general and administrative expenses |  | (43,430) |  |  | (27,480) |  |  | (6,140) |  |  |
Other segment items (a) |  | 1,120 |  |  | 10 |  |  | (90) |  |  |
Segment operating profit |  | $ | 53,060 |  |  | $ | 23,870 |  |  | $ | 5,480 |  |  | $ | 82,410 |
Corporate (e) |  |  |  |  |  |  |  | (43,840) |
Interest expense |  |  |  |  |  |  |  | (15,010) |
Other income (expense), net |  |  |  |  |  |  |  | (310) |
Income before income tax expense |  |  |  |  |  |  |  | $ | 23,250 |
__________________________ (a) Other segment items for each reportable segment includes net gain (loss) on dispositions of assets. (b) Includes $8.0 million of asbestos-related costs, $1.9 million of system implementation costs, and $0.5 million of realignment, severance and consulting costs. (c) Includes $5.5 million of asbestos-related costs, $1.8 million of system implementation costs, $1.8 million of environmental remediation costs, $0.8 million of mergers, acquisition, diligence and transaction costs, and $0.8 million of consulting costs. (d) Includes $8.0 million of asbestos-related costs, $7.5 million of realignment, severance and consulting costs, a $5.4 million gain on the sale of Arrow Engine, $4.3 million of system implementation costs and $0.4 million of mergers, acquisition, diligence and transaction costs. (e) Includes $5.5 million of asbestos-related costs, $3.6 million of system implementation costs, $3.0 million of mergers, acquisition, diligence and transaction costs, $2.5 million of environmental remediation costs, and $1.5 million of consulting costs.
|  | Three months ended September 30, |  | Nine months ended September 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Capital expenditures |  |  |  |  |  |  |  |
Packaging |  | $ | 6,460 |  |  | $ | 7,710 |  |  | $ | 22,550 |  |  | $ | 23,540 |
Aerospace |  | 4,750 |  |  | 2,430 |  |  | 12,160 |  |  | 5,090 |
Specialty Products |  | 990 |  |  | 1,100 |  |  | 4,850 |  |  | 5,460 |
Corporate |  | 1,470 |  |  | 630 |  |  | 4,090 |  |  | 1,890 |
Total |  | $ | 13,670 |  |  | $ | 11,870 |  |  | $ | 43,650 |  |  | $ | 35,980 |
Depreciation and amortization |  |  |  |  |  |  |  |
Packaging |  | $ | 9,060 |  |  | $ | 8,640 |  |  | $ | 26,100 |  |  | $ | 25,750 |
Aerospace |  | 4,670 |  |  | 4,460 |  |  | 14,000 |  |  | 13,610 |
Specialty Products |  | 690 |  |  | 1,000 |  |  | 2,340 |  |  | 3,080 |
Corporate |  | 100 |  |  | 50 |  |  | 270 |  |  | 140 |
Total |  | $ | 14,520 |  |  | $ | 14,150 |  |  | $ | 42,710 |  |  | $ | 42,580 |
|  | September 30, 2025 |  | December 31, 2024
Total Assets |  |  |  |
Packaging |  | $ | 868,800 |  |  | $ | 811,190 |
Aerospace |  | 451,220 |  |  | 390,980 |
Specialty Products |  | 78,840 |  |  | 89,210 |
Corporate |  | 35,020 |  |  | 32,800 |
Total |  | $ | 1,433,880 |  |  | $ | 1,324,180 |

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- 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 + Details
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