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Business Segment Data | 3 Months Ended
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May 31, 2025
Segment Reporting [Abstract] |
Business Segment Data | Business Segment Data We have four operating segments which are also reportable segments. Each of our four segments have distinct economic characteristics, including products and services provided, production processes and varying ranges in performance and results: •The Architectural Metals Segment designs, engineers, fabricates and finishes aluminum window, curtainwall, storefront and entrance systems used primarily in non-residential construction. •The Architectural Services Segment integrates technical services, project management, and field installation services to design, engineer, fabricate, and install architectural curtainwall and other façade-related systems primarily in non-residential construction. •The Architectural Glass Segment cuts, treats, coats and fabricates high-performance glass used in custom window and wall systems primarily for non-residential buildings. •The Performance Surfaces Segment develops and manufactures high-performance coated materials for a variety of applications, including wall decor, museums, graphic design, digital displays, architectural interiors, and industrial flooring. The Company’s CEO is the chief operating decision maker (CODM). The CODM utilizes net sales and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) to assess segment performance and make decisions about the allocation of operating and capital resources by analyzing recent results, trends, and variances of each segment in relation to forecasts and historical performance. Net sales, adjusted cost of sales, adjusted SG&A, other income (expense), depreciation and amortization and the resulting adjusted EBITDA for each of the Company’s four reportable segments are presented below. Segment net sales is defined as net sales for a certain segment and includes revenue related to intersegment transactions. We report net sales intersegment eliminations separately to exclude these sales from our consolidated total. Segment adjusted EBITDA includes intersegment sales transactions and excludes certain corporate costs that are not allocated at a segment level. We report these unallocated corporate costs in Corporate and Other.
|  | Three Months Ended May 31, 2025
(In thousands) |  | Architectural Metals |  | Architectural Services |  | Architectural Glass |  | Performance Surfaces |  |  |  | Total
Net sales |  | $ | 128,596 |  |  | $ | 106,505 |  |  | $ | 69,271 |  |  | $ | 42,250 |  |  |  |  | $ | 346,622 |
Intersegment net sales |  | 28 |  |  | — |  |  | 4,002 |  |  | — |  |  |  |  | 4,030 |
Total segment net sales |  | 128,624 |  |  | 106,505 |  |  | 73,273 |  |  | 42,250 |  |  |  |  | 350,652 |
Adjusted cost of sales (1) |  | (97,603) |  |  | (90,664) |  |  | (51,759) |  |  | (28,217) |  |  |  |  | (268,243) |
Adjusted SG&A (2) |  | (25,468) |  |  | (10,847) |  |  | (11,309) |  |  | (9,624) |  |  |  |  | (57,248) |
Other expense, net |  | — |  |  | — |  |  | (58) |  |  | — |  |  |  |  | (58) |
Depreciation and amortization |  | 3,813 |  |  | 1,073 |  |  | 3,270 |  |  | 3,550 |  |  |  |  | 11,706 |
Adjusted EBITDA |  | $ | 9,366 |  |  | $ | 6,067 |  |  | $ | 13,417 |  |  | $ | 7,959 |  |  |  |  | $ | 36,809 |
|  | Three Months Ended June 1, 2024
(In thousands) |  | Architectural Metals |  | Architectural Services |  | Architectural Glass |  | Performance Surfaces |  |  |  | Total
Net sales |  | $ | 133,109 |  |  | $ | 99,027 |  |  | $ | 78,176 |  |  | $ | 21,204 |  |  |  |  | $ | 331,516 |
Intersegment net sales |  | 63 |  |  | — |  |  | 8,527 |  |  | — |  |  |  |  | 8,590 |
Total segment net sales |  | 133,172 |  |  | 99,027 |  |  | 86,703 |  |  | 21,204 |  |  |  |  | 340,106 |
Adjusted cost of sales (1) |  | (88,552) |  |  | (81,852) |  |  | (58,288) |  |  | (12,485) |  |  |  |  | (241,177) |
Adjusted SG&A (2) |  | (25,287) |  |  | (11,552) |  |  | (11,324) |  |  | (3,873) |  |  |  |  | (52,036) |
Other income (expense), net |  | — |  |  | — |  |  | 130 |  |  | — |  |  |  |  | 130 |
Depreciation and amortization |  | 4,507 |  |  | 950 |  |  | 3,010 |  |  | 796 |  |  |  |  | 9,263 |
Adjusted EBITDA |  | $ | 23,840 |  |  | $ | 6,573 |  |  | $ | 20,231 |  |  | $ | 5,642 |  |  |  |  | $ | 56,286 |
(1) | Adjusted cost of sales excludes $7.0 million of adjustments related to acquisition and restructuring expense and $0.6 million of adjustments related to restructuring expense as described in more detail within the reconciliation presented below, for the three months ended May 31, 2025 and June 1, 2024, respectively.
(2) | Adjusted SG&A expenses excludes $6.0 million of adjustments related to acquisition and restructuring expense and $0.4 million of adjustments related to restructuring expense as described in more detail within the reconciliation presented below, for the three months ended May 31, 2025 and June 1, 2024, respectively.
The following table presents the reconciliation of adjusted EBITDA to net (loss) earnings, the nearest measurement under U.S. GAAP:
|  | Three Months Ended |  |
(In thousands) |  | May 31, 2025 |  | June 1, 2024 |  |
Segment Adjusted EBITDA |  | $ | 36,809 |  |  | $ | 56,286 |  |  |
Corporate and Other Expenses |  | (5,129) |  |  | (3,481) |  |  |
Segment acquisition-related costs (1) |  | (277) |  |  | — |  |  |
Segment restructuring costs (2) |  | (12,718) |  |  | (998) |  |  |
Depreciation and amortization |  | (12,436) |  |  | (10,283) |  |  |
Interest expense, net |  | (3,846) |  |  | (450) |  |  |
Income tax expense |  | (5,091) |  |  | (10,063) |  |  |
Net (loss) earnings |  | $ | (2,688) |  |  | $ | 31,011 |  |  |
(1) | Acquisition-related costs include costs related to one-time expenses incurred to integrate the UW Solutions acquisition.
(2) | Segment restructuring charges related to Project Fortify.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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