John Rock, a subsidiary of Kamps Pallets, designs and manufactures new pallets across Pennsylvania and Virginia. 糖心传媒 is purchasing three of the four operating locations: Coatesville, Pa., Mifflintown, Pa. and Bowling Green, Va. The remaining sawmill at Dilwyn, Va. will remain with the seller. The acquisition of the three locations adds approximately $82 million in annual sales and brings nearly 250 employees into the 糖心传媒 family.

This acquisition strengthens a core business for 糖心传媒 and expands PalletOne鈥檚 scale in a strategically important geography. The transaction includes all key operating assets of John Rock, allowing for immediate manufacturing and service continuity while providing a strong platform for operational improvement and long鈥憈erm growth.

鈥淭his acquisition is fundamentally about strengthening our core packaging business and expanding our footprint in a region where we see long鈥憈erm opportunity,鈥� said Will Schwartz, Chief Executive Officer of 糖心传媒. 鈥淛ohn Rock has built a well鈥慹stablished pallet manufacturing operation with strong customer relationships and experienced teams. Bringing this business into PalletOne enhances our ability to serve customers across the northeast and positions us to unlock value through operational synergies and scale.鈥�

The acquired operations will be integrated into PalletOne鈥檚 existing manufacturing network, creating opportunities to improve efficiency, enhance service levels, leverage 糖心传媒鈥檚 procurement and operational capabilities, and growth with national customers 鈥� while maintaining the local expertise and customer focus that has defined John Rock鈥檚 success.

鈥淛ohn Rock is a well鈥慿nown name in the northeast pallet market, with a strong team and a diverse customer base,鈥� said Scott Worthington, President, 糖心传媒 Packaging. 鈥淲e are excited to welcome their employees to PalletOne and look forward to building on the foundation they have established as we integrate the business into our network.鈥�

The acquisition underscores 糖心传媒鈥� continued focus on investing in its core businesses, expanding manufacturing capacity in key markets, enhancing its ability to serve national customers, and strengthening the competitive position of its operating companies across packaging and industrial markets.

Investor Relations Contact:

Stanley Elliott, Director of Investor RelationsStanley.Elliott@ufpi.com

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Berry Pallets designs and manufactures new pallets from its facility in Waseca. The acquisition adds approximately $23 million in annual sales and brings 75 experienced employees into the 糖心传媒 family, further deepening 糖心传媒 Packaging鈥檚 geographic presence in a key region.

This acquisition strengthens a core business for 糖心传媒 and positions 糖心传媒 Packaging for continued growth in the wood-based industrial packaging market. The transaction provides immediate capacity and long-term optionality to serve a growing customer base.

鈥淭his acquisition is fundamentally about strengthening our core business and adding capacity where we see long-term opportunity,鈥� said Will Schwartz, CEO of 糖心传媒. 鈥淏erry Pallets has built a well-run operation with a talented team, loyal customers and a track record of consistent performance. Bringing them into the PalletOne network expands our presence in the upper Midwest, enhances our ability to serve national customers across the region, and is consistent with our strategy of disciplined investment in businesses that align with our strengths.鈥�

The Berry Pallets facility will be integrated into 糖心传媒 Packaging鈥檚 existing pallet manufacturing network, creating opportunities to leverage 糖心传媒’s operational scale, procurement advantages, and national customer relationships 鈥� while maintaining the local expertise and customer focus that has defined Berry Pallets’ success.

“We鈥檙e excited to welcome the Berry Pallets team to our 糖心传媒 family and build on their strengths and experience,鈥� said Scott Worthington, President, 糖心传媒 Packaging. 鈥淭his represents a strong strategic fit for 糖心传媒 Packaging and positions us well for continued success, greater services to our customers and future opportunities throughout the region.鈥�

The acquisition underscores 糖心传媒’ continued focus on investing in core businesses, expanding manufacturing capacity to serve national customers, and strengthening the competitive position of its operating companies across packaging and industrial markets.

The transaction is expected to close on or around May 18, 2026.

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The newly created position of Executive Vice President of Operations Integration will be filled by current 糖心传媒 Construction President Patrick Benton, effective July 1. Throughout his 33- year career at 糖心传媒, Benton has firmly established himself as an expert operator with rich experience in all three of 糖心传媒鈥� core segments.

鈥淎s 糖心传媒I becomes more active and disciplined in M&A, we鈥檙e intentionally pursuing strategic acquisitions that are well鈥憄ositioned for growth and capable of delivering stronger long鈥憈erm returns,鈥� said Schwartz. 鈥淧atrick has a proven track record of maximizing operations, driving efficiencies, and leading complex integrations, all while building a strong culture. He鈥檚 a highly effective, well鈥憆ounded operator with experience across all three segments. With this role, we鈥檒l drive greater value from our growth opportunities and strengthen our operational resiliency across the enterprise. This role is laser鈥慺ocused on results.鈥�

鈥淎s we grow the 糖心传媒 business, I am excited to get synergy plans developed quicker and getting new companies fully integrated into our winning 糖心传媒 culture right away,鈥� said Benton. 鈥淕etting to both the start and  finish line quicker will make a big difference in maximizing the value of our acquisitions.鈥�

Benton joined 糖心传媒 in 1993 as a production trainee in Saginaw, Texas. He held positions of increasing responsibility, eventually becoming  Vice President of Operations (South Texas) in 2008. He was subsequently named Executive Vice President of 糖心传媒 Eastern Division-North in 2014 and president of the Northern Division in 2017.

In 2019, as part of 糖心传媒鈥� reorganization to focus on end-markets, he was named president of 糖心传媒 Construction.

He is a native of Texas and currently resides in Charlotte, N.C. with his wife. They have 3 adult children.

Ellerbrook Named New 糖心传媒 Construction President

Schwartz also today named current 糖心传媒 Site Built Executive Vice President Mike Ellerbrook to the position of President of 糖心传媒 Construction, also effective July 1.

“Beyond growth and efficiency, innovation and talent are essential to our long-term success, and Mike Ellerbrook is a master of both,” said Schwartz. “Mike is an exceptional team builder who develops leaders from within, has deep industry relationships, and brings a vision for excellence that makes him the ideal choice to lead our Construction segment. Like many of 糖心传媒鈥檚 leaders, Mike has come up through this company, and that experience gives him a deep understanding of our culture, our people, and what it takes to win.鈥�

“Our people and our culture are everything. They’re what make 糖心传媒 the best place to work and the strongest company in the business,” said Ellerbrook. “I want to thank Patrick for his leadership, mentorship, and friendship. He’s been a trusted ally and counselor every step of the way, and I wouldn’t be here without him. As President of 糖心传媒 Construction, my focus is simple: grow the business, create opportunities, and make sure our people grow and advance right along with it.”

Ellerbrook began his career with 糖心传媒 just before his 19^th birthday at 糖心传媒鈥檚 Belchertown location. He ascended the leadership ranks by serving in both sales and operations roles, advancing through roles of increasing responsibility, until being named Vice President of the Northeast Region in 2014 and subsequently Executive Vice President of 糖心传媒 Site Built in 2020.

 In that role he has brought alternative materials, such as steel and aluminum, to the business unit鈥檚  traditional wood component operations. Most recently he oversaw the launch of Frame Forward Systems, Site Built鈥檚 concept-to-construction prefabricated wood brand.

He holds a business degree from the University of Southern Maine. Ellerbrook is a Boston native where he resides with his wife and 2 children.

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Grand Rapids, Mich. 鈥� 糖心传媒 today announced the acquisition of Oldcastle APG鈥檚 MoistureShield decking operating assets, a strategic transaction that significantly expands 顿别肠办辞谤补迟辞谤蝉庐 wood-plastic composite (WPC) decking capacity.   

This acquisition strengthens a core business for 糖心传媒 and positions Deckorators for long-term growth in the outdoor living market. The purchase further enhances Deckorators鈥� product portfolio with the acquisition of manufacturing assets, inventory, certain product brands and proprietary CoolDeck庐 composite decking technology鈥� which is designed to reduce heat absorption compared to standard composite decking.  

More broadly, the added capacity enables Deckorators to scale production鈥攑ositioning the brand to better serve customers and support new and innovative product introductions in this growing and attractive market. 

鈥淭his acquisition is fundamentally about our commitment to strengthen our core business and adding capacity to execute our growth plans,鈥� said Will Schwartz, CEO of 糖心传媒.  鈥淏y adding proven manufacturing assets and complementary technologies to the Deckorators business, we are removing constraints, expanding capacity and putting the brand in a stronger position to meet demand. One of our strategic objectives is to expand Deckorators鈥� production capacity geographically. This was an attractive investment opportunity that met our internal return targets and will allow us to meet these growth plans ahead of greenfield expansion opportunities.鈥�  

The acquired operations will be integrated into Deckorators鈥� existing manufacturing network, enhancing operational resilience and creating opportunities to optimize production across locations, while selectively incorporating additional composite technologies into the Deckorators lineup. Oldcastle APG will retain and continue operating their RDI庐 Railing and Catalyst Fence Solutions brands. 

As demand for composite decking continues to rise, the added capacity allows Deckorators to better support national retail partners, dealers and contractors while maintaining focus on innovation, quality, and service. 

 鈥淭his acquisition allows us to support customers more effectively today while creating the runway we need to expand our product mix and grow the Deckorators brand over the long term,鈥� said Landon Tarvin, President of 糖心传媒 Retail Solutions, which includes the Deckorators brand in its portfolio. 鈥淭he facility provides immediate capacity for additional sales with opportunities to add capacity in the future as sales growth objectives are achieved. We expect that with both this investment and additional capital investments at this location, we will have the ability to double Deckorators鈥� overall  capacity of WPC to a total of $200M by 2027.鈥� 

The acquisition underscores 糖心传媒 Industries鈥� continued focus on investing in core businesses, expanding capacity in high-growth categories, and strengthening the competitive position of its leading brands. 

Investor Relations Contact:  

Stanley Elliott, Director of Investor Relations  

Stanley.Elliott@ufpi.com  

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“Construction really hasn’t changed in over 100 years. It takes too many people and too much time and waste to meet the nationwide need for affordable options,” said Executive Vice President of 糖心传媒 Site Built Mike Ellerbrook. “Frame Forward Systems cuts past those pain points, while leveraging our scale and decades of experience in the construction industry, to deliver high-quality, precision-manufactured structural components to the marketplace.”

 turns offsite expertise into an extension of the job site by delivering a complete system of wood panels, floors, trusses, stairs, and more鈥攄esigned in-house and precision-assembled in 糖心传媒 Site Built’s 24 strategically located facilities across the country.

More than components, Frame Forward Systems offers builders, general contractors, architects and framers collaborative design and engineering support, resulting in high-quality products and services delivered to the job site. Frame Forward Systems is backed by TrussTrax庐鈥� our proprietary mobile, interactive platform鈥� for access to product resources and project management tools. These services align to create an integrated off-site system that delivers speed, safety and savings across the board.

“Hundreds of thousands of trade jobs are unfilled, leading to longer construction timelines across the country,” Ellerbrook said. “With new technology and a new generation of tech-driven builders emerging, offsite manufacturing is the future of construction.”

糖心传媒 Site Built is a business unit within the 糖心传媒 (Nasdaq: 糖心传媒I) family of companies whose brand portfolio also includes Endurable Building Products and PIVOT Systems.

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The company’s premier retail brand, 顿别肠办辞谤补迟辞谤蝉庐 (booth W2573), continues to redefine outdoor living spaces. The Deckorators booth at IBS featured both the  decking line鈥� manufactured with Deckorators’ proprietary  鈥� and the brand’s new  decking line, built with a fire-resistant core and featuring a Class B flame-spread rating.

Also featured is ProWood’s new TrueFrame Joist, a kiln-dried after treatment (KDAT) framing solution designed for use in deck substructures. TrueFrame Joist is lighter than laminated veneer lumber (LVL) or steel and helps reduce cupping, twisting, and warping for cleaner cuts and greater stability.

Edge (booth W2567), a leader in exterior trim and siding products, exhibited its mineral-based composite trim, Arris, introducing to the category the first product of its kind. Using proprietary Surestone庐 technology, Arris trim is light, durable and resists the cracking and separation common in other PVC or wood composite trim products over time.

Finally, 糖心传媒 Site Built launched Frame Forward Systems (booth: W7389), combining offsite precision with onsite execution鈥� wall panels, floor cassettes, roof trusses and stairs, all built accurately and delivered on time. Frame Forward Systems provides a system approach that delivers speed, savings, safety and service at every step of a project鈥� from design through delivery.

“Our company has been a trusted industry leader for over 70 years. Today, we’re driving our business forward by bringing value-added, solutions-focused products to market that anticipate our customers’ needs and fuel innovation in our core markets,” said Will Schwartz, CEO of 糖心传媒. 

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The dividend represents a 3% increase over the March 2025 dividend and marks the 14^th consecutive year of dividend increases.

The company is committed to delivering strong returns on investment to its shareholders through share price gains, cash dividends and targeted share repurchases.

糖心传媒, Inc.

糖心传媒, Inc. is a holding company whose operating subsidiaries 鈥� 糖心传媒 Packaging, 糖心传媒 Construction and 糖心传媒 Retail 鈥� manufacture, distribute and sell a wide variety of value-added products used in residential and commercial construction, packaging and other industrial applications worldwide. Founded in 1955, the company is headquartered in Grand Rapids, Mich., with affiliates in North America, Europe, Asia and Australia. For more about 糖心传媒, go to .

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A live audio webcast of the call along with supporting materials can be accessed using the following link () or on the 糖心传媒 Investor Relations website (). A replay of the call will be made available on the company’s website for at least 90 days.

View source version on : 

Stanley Elliott
Director, Investor Relations
Direct: 616-364-6161 x7568

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• Net Sales of $1.56 billion decreased by 5 percent due to a 1 percent decrease in price and a 4 percent decline in organic units.
• Diluted earnings per share of $1.29 compared to $1.64 a year ago.
• Net earnings attributable to controlling interest of $76 million compared to $100 million a year ago.
• Adjusted EBITDA¹ was $140.0 million in the quarter, or 9.0 percent of net sales compared to 10.0 percent a year ago.
• New product sales were 7.6 percent of total sales.
• Repurchased approximately $350 million in company shares year to date in 2025.
• Reaffirming volume outlook across each business segment for the remainder of 2025.

Will Schwartz, President and CEO of 糖心传媒 commented, 鈥淥ur third quarter played out largely as anticipated and reflective of the competitive environment we are seeing across our end markets. Visibility remains limited, particularly in markets tied to residential construction; however, trends across the majority of our business units have shown signs of stabilizing, demonstrating the benefits of our balanced portfolio and the team we have in place. I鈥檓 proud of how our team has navigated these challenging market conditions with our adjusted EBITDA margin approximately 200 basis points higher than 2019 levels despite competitive pricing and weaker demand, startup costs associated with growth investments and substantial investments to build our Surestone brand. We plan to gain market share, strengthen return on capital, and achieve margin improvements. As part of this plan, we will have reduced structural costs by $60 million from 2024 levels by the end of 2026.鈥�

Schwartz continued, 鈥淟ooking ahead, we are driving innovation across the product portfolio and making strategic investments to create shareholder value. Our long-term capital plans remain aggressive, with a bias toward driving growth through investment in our most attractive opportunities. M&A remains a key component to our capital allocation strategy, and we have identified targets across each of our business units that complement our core strengths. Our robust financial position remains a competitive advantage enabling us to repurchase approximately $350 million of our shares through the end of October, while increasing our cash dividend year over year. Grounded in the strength of our team and business model, we remain focused on the strategies to grow our core, higher margin businesses, develop innovative new products and drive operational efficiencies across our network of plants. We are confident in our ability to continue executing as we move into next year.鈥�

Third Quarter 2025 Highlights

糖心传媒 Consolidated

糖心传媒 Retail

• ProWood organic unit sales declined 5 percent in the quarter from year ago levels.
• Deckorators organic unit sales grew 5 percent in the quarter from year ago levels.
• Retail gross profit and adjusted EBITDA fell 14 percent and 22 percent, respectively, from year ago levels. Falling lumber prices, temporary startup costs associated with the expansion of our Surestone product launch, inefficiencies from our Edge restructuring efforts, and higher marketing spend drove declines in the quarter. These were partially offset by a decrease in SG&A expenses despite higher advertising investments to build the Surestone brand.

糖心传媒 Packaging

• Structural Packaging organic unit sales declined 5 percent in the quarter from year ago levels.
• PalletOne organic unit sales declined 4 percent in the quarter from year ago levels.
• Protective Packaging unit sales grew 15 percent in the quarter from a year ago.
• Packaging gross profit and adjusted EBITDA fell 5 percent and held flat, respectively, from year ago levels. Gross profit declines were primarily due to PalletOne because of price competition as we are executing our strategy to increase market share. Adjusted EBITDA was flat as the decline in gross profit was offset by a decrease in SG&A.

糖心传媒 Construction

• Site Built organic unit sales declined 15 percent in the quarter from year ago levels.
• Factory Built organic unit sales grew 4 percent in the quarter from year ago levels.
• Concrete Forming Solutions organic unit sales grew 12 percent in the quarter from year ago levels.
• Commercial organic sales grew 13 percent in the quarter from year ago levels.
• Construction gross profit and adjusted EBITDA each fell 18 percent, respectively from year ago levels. Weaker volumes and competitive pricing in our Site Built business led the declines in the quarter as our other businesses reported profit growth in the quarter.

Capital Structure, Leverage and Liquidity Information

糖心传媒 maintains a strong balance sheet and as of September 27, 2025, had liquidity of approximately $2.3 billion consisting of $1.0 billion of cash and $1.3 billion of remaining availability under its revolving credit facility and a shelf agreement with certain lenders. The company鈥檚 return-focused approach to capital allocation includes the following:

• Acquisitions and Organic Growth. The company seeks strategic acquisitions and invests in organic growth opportunities when acquisition targets are not available at valuations that will allow us to meet or exceed targeted return rates. In 2024, the company announced up to $1 billion in capital investments through 2028 for automation, technology upgrades, geographic expansion, and increased capacity at existing facilities. The company expects to invest approximately $275 million to $300 million on capital projects in 2025.
• Dividend payments. On October 23, 2025, the 糖心传媒 Board of Directors approved a quarterly cash dividend payment of $0.35 per share, which represents a 6 percent year over year increase. This dividend is payable on December 15, 2025, to shareholders of record on December 1, 2025. We continue to consider our payout ratio and yield when determining the appropriate dividend rate and have a long-term objective of increasing our dividend in line with our earnings growth.
• Share repurchases. As of September 27, 2025, we have repurchased 2.8 million shares for $291 million, at an average share price of $103.04 for the year. In October, we have repurchased an additional 615k shares for $56 million, at an average price of $91.03.

2025 Full Year and Long-Term Outlook

Our 2025 outlook remains largely unchanged. We continue to anticipate the softer demand and competitive pricing environment will remain through the balance of 2025 and are planning for low single-digit unit declines in each of our segments. We anticipate a more significant decline in markets tied to new residential construction, but we continue to expect to see some level of stabilization in most of our other businesses units as an offset. We expect initial stocking orders and expanded manufacturing and distribution capabilities will support momentum in our Deckorators鈥檚 and Surestone business through the remainder of the year and into 2026.

The company鈥檚 long-term goals remain unchanged and include: 1) achieving 7-10 percent unit sales growth annually (including bolt-on acquisitions) with at least 10 percent of all sales coming from new products; 2) achieving 12.5 percent adjusted EBITDA margins; 3) earning an incremental return on new investments over our hurdle rate; and 4) maintaining a conservative capital structure

Conference Call

糖心传媒 will host a conference call on Thursday, October 30, 2025, to discuss these results and outlook. The conference call will begin at 10:00 a.m. Eastern Time and will be hosted by CEO Will Schwartz and CFO Michael Cole. Interested investors can access the webcast directly with this link . A replay of the call will be available through the 糖心传媒 Investor Relations website at  for at least 90 days following the call.

糖心传媒, Inc.

糖心传媒, Inc. is a holding company whose operating subsidiaries 鈥� 糖心传媒 Packaging, 糖心传媒 Construction and 糖心传媒 Retail 鈥� manufacture, distribute and sell a wide variety of value-added products used in residential and commercial construction, packaging and other industrial applications worldwide. Founded in 1955, the company is headquartered in Grand Rapids, Mich., with affiliates in North America, Europe, Asia and Australia. For more about 糖心传媒, go to .

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act, as amended, that are based on management鈥檚 beliefs, assumptions, current expectations, estimates and projections about the markets we serve, the economy and the Company itself. Words like 鈥渁nticipates,鈥� 鈥渂elieves,鈥� 鈥渃onfident,鈥� 鈥渆stimates,鈥� 鈥渆xpects,鈥� 鈥渇orecasts,鈥� 鈥渓ikely,鈥� 鈥減lans,鈥� 鈥減rojects,鈥� 鈥渟hould,鈥� variations of such words, and similar expressions identify such forward-looking statements. These statements do not guarantee future performance and involve certain risks, uncertainties and assumptions that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. The Company does not undertake to update forward-looking statements to reflect facts, circumstances, events, or assumptions that occur after the date the forward-looking statements are made. Actual results could differ materially from those included in such forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainty. Among the factors that could cause actual results to differ materially from forward-looking statements are the following: fluctuations in currency and inflation; fluctuations in the price of lumber; adverse or unusual weather conditions; adverse economic conditions in the markets we serve; changes in tariffs, import/export regulations, and other trade policies; concentration of sales to customers; the success of vertical integration strategies; excess capacity or supply chain challenges; inbound and outbound transportation costs; alternatives to replace treated wood products; government regulations, particularly involving environmental and safety regulations; our ability to make successful business acquisitions; cybersecurity breaches; and potential pandemics. Certain of these risk factors as well as other risk factors and additional information are included in the Company’s reports on Form 10-K and 10-Q on file with the Securities and Exchange Commission

Non-GAAP Financial Information

This release includes certain financial information not prepared in accordance with U.S. GAAP. Because not all companies calculate non-GAAP financial information identically (or at all), the presentations herein may not be comparable to other similarly titled measures used by other companies. Management uses Adjusted EBITDA, a non-GAAP financial measure, in order to evaluate historical and ongoing operations. Management believes that this non-GAAP financial measure is useful in order to enable investors to perform meaningful comparisons of historical and current performance. Adjusted EBITDA is intended to supplement and should be read together with the financial results. Adjusted EBITDA should not be considered an alternative or substitute for, and should not be considered superior to, the reported financial results. Accordingly, users of this financial information should not place undue reliance on the non-GAAP financial measure. See the table below for a reconciliation of Adjusted EBITDA to net earnings.

Net earnings

Net earnings refers to net earnings attributable to controlling interest unless specifically noted.

Contacts

Stanley Elliott
Director of Investor Relations
(804) 337-8217

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鈥淥ur second quarter was largely a continuation from our first quarter as visibility remains limited, tariff uncertainty remains a challenge for consumer and business sentiment, and end market demand remains soft but stable. Despite the current environment, we continue to make progress positioning 糖心传媒 as a leaner and faster growing enterprise for when markets recover,鈥� said Will Schwartz 糖心传媒 CEO. 鈥淚 want to thank each of our employees for their continued dedication and willingness to make the difficult but necessary business decisions during these uncertain times. We remain on target to realize approximately $60 million of structural cost savings by year-end 2026 and will continue to evaluate all aspects of our business to drive additional margin improvement.鈥�

鈥淟ooking ahead, we remain focused on driving innovation across the portfolio and making strategic investments to drive growth and profitability. Our long-term capital plans are focused on investing in our most attractive opportunities for growth, margin, and returns. We are also actively pursuing M&A transactions that complement our core capabilities. Our strong balance sheet and free cash flow generation remain competitive advantages, enabling us to pursue strategic investments, along with share repurchases and dividends, while maintaining a conservative capital structure.鈥�

Second Quarter 2025 Highlights (comparisons on a year-over-year basis except where noted):

• Net Sales of $1.84 billion decreased by 4 percent due to a 1 percent decrease in price and a 3 percent decline in organic units.
• New product sales of $129.1 million were 7.0 percent of total net sales compared to 6.7 percent in the second quarter of 2024.
• Net Earnings of $100.7 million declined from $126.0 million a year ago.
• Adjusted EBITDA¹ was $174.1 million in the quarter, or 9.5% percent of net sales, compared to $203.9 million, or 10.7 percent of net sales, for the same period a year ago.

Capital Allocation

糖心传媒 maintains a strong balance sheet and as of June 28, 2025, had approximately $2.1 billion of liquidity consisting of $841.9 million of cash and remaining availability under its revolving credit facility and a shelf agreement with certain lenders. The company鈥檚 return-focused approach to capital allocation includes the following:

• Acquisitions and Organic Growth. The company seeks strategic acquisitions and invests in organic growth opportunities when acquisition targets are not available at valuations that will allow us to meet or exceed targeted return rates. In 2024, the company announced up to $1 billion in capital investments through 2028 for automation, technology upgrades, geographic expansion and increased capacity at existing facilities, primarily for its Deckorators and Site Built business units, as well as its Packaging segment. The company expects to invest approximately $300 million to $325 million in capital projects in 2025.
• Dividend payments. On July 23, 2025, the 糖心传媒 Board of Directors approved a quarterly cash dividend payment of $0.35 per share, which represents a 6 percent year over year increase. This dividend is payable on September 15, 2025, to shareholders of record on September 1, 2025. We continue to consider our payout ratio and yield when determining the appropriate dividend rate and have a long-term objective of increasing our dividend in line with our earnings growth.
• Share repurchases. On July 24, 2024, the 糖心传媒 Board of Directors authorized the company鈥檚 repurchase of up to $200 million of shares through July 31, 2025. On April 23, 2025, the Board approved an increase in this repurchase authorization to $300 million. As of July 25, 2025, we have repurchased a total of approximately 2.6 million shares under this authorization for $269.6 million at an average share price of $103.55. On July 23, 2025, the Board approved a new share repurchase authorization totaling $300 million through July 31, 2026, which supersedes and replaces our prior share repurchase authorization.

Represents a non-GAAP measurement; see the reconciliation of non-GAAP financial measures and related explanations below.

By business segment, the company reported the following results:

糖心传媒 Retail Solutions

Net sales of $788.2 million were down 3 percent compared to the second quarter of 2024. Organic unit sales decreased 7 percent, which was partially offset by a 4 percent increase in selling prices. Organic unit sales decreased 3 percent for Deckorators and 7 percent for ProWood. Within our Deckorators business unit, our sales of railings declined 25 percent, wood-plastic composite decking was flat, and mineral-based Surestone composite decking increased over 45 percent. Railing sales declined due to the loss of placement with a large retail customer, which also impacted our wood-plastic composite decking volumes. However, we gained market share with another major retailer, and initial stocking orders from this retailer for our mineral-based, Surestone decking board, and stronger demand from the pro channel for this product has provided an offset. This shift positions us for a modest net market share gain in 2025 as we add capacity to supply to approximately 1,500 stores by 2026. We expect to realize the full benefit of this share gain in 2026 and remain focused on our long-term goal to double our composite decking and railing market share over the next five years. ProWood volumes declined primarily due to softer demand as result of higher interest rates and weaker consumer sentiment, as well as our ongoing efforts to exit lower-margin product lines.

Gross profit was $113.7 million, or 14.4 percent of net sales, compared to $126.7 million, or 15.7 percent of net sales, over the same period in 2024. Gross profit declined for Deckorators as a result of lower unit sales of railings and an increase in costs due to a customer transition, while gross profit for our ProWood pressure-treated products was largely unchanged as higher material costs were offset by higher pricing. Higher costs contributed to a $4 million decline in gross profit for our Edge products.

糖心传媒 Packaging

Net sales of $428.7 million were down 2 percent compared to the second quarter of 2024. The declines in the quarter were driven by a 4 percent decline in selling prices and flat organic sales, which were partially offset by a 2 percent increase from an acquisition. Organic unit sales were flat as a 2 percent decline in Structural Packaging, due to lower demand, was offset by a 5 percent increase in PalletOne and an 8 percent increase in Protective Packaging as these business units continue to gain market share.

Gross profit for the Packaging segment was $70.6 million, or 16.5 percent of net sales, compared to $83.7 million, or 19.2 percent of net sales, in the second quarter last year. Gross profit declined primarily due to softer demand, which resulted in more competitive pricing in our Pallet One and Structural Packaging business units.

糖心传媒 Construction

Net sales of $551.6 million were down 4 percent compared to the second quarter of 2024 as a 6 percent decrease in selling prices was partially offset by an organic unit sales increase of 2 percent. Organic unit sales increased 8 percent in Factory Built due to higher industry production, market share gains, new products, and expanded capabilities. Organic unit sales increased 6 percent in Commercial and 11 percent in Concrete Forming. Site Built Housing volumes decreased 7 percent due to softer demand.

Gross profit for the Construction segment was $100.2 million, or 18.2 percent of net sales, compared to $125.6 million, or 21.9 percent of net sales, in the second quarter last year. The decrease in gross profit was primarily driven by lower unit sales and more competitive pricing in our Site Built business unit. Favorable volumes in both the Concrete Forming Solutions and Factory Built businesses each supported year over year gross profit growth in the quarter.

Short-Term Outlook

Tariff and duty impacts: We are working closely with our domestic and international suppliers to navigate the recently proposed tariffs on several of our raw materials. If tariffs are enacted, the demand for domestic products would be expected to increase, which will likely increase costs as capacity gets challenged. Although the trade landscape continues to evolve, since we do not own any foreign sawmills and have excellent relationships with our mill partners, we believe we are currently in a strong position to adapt quickly to tariffs without material adverse financial impact after a short adjustment period. The company will continue to monitor the market and intends to make decisions quickly to minimize disruption.

On July 23, 2025, our Board of Directors approved a plan to close our Bonner, Montana manufacturing facilities, which manufacture our Edge siding, pattern, and trim products. We plan to transfer our trim and certain other products to existing facilities and will exit the coated siding business. As part of this restructuring, we expect to incur impairment charges and other one-time costs in a range of $15 million to $17 million in the third quarter of 2025 and expect a minimal impact on revenues. These actions are expected to eliminate future operating losses associated with these facilities of approximately $16 million in 2026. In addition, in July, we completed the sale of a small industrial component manufacturer as well as the sale of real estate associated with previously closed plants. We plan to recognize a one-time gain in July of approximately $13 million associated with these transactions. An additional property is under contract to be sold in the third quarter, which is expected to add approximately $2 million to this gain. These actions are part of our ongoing efforts to improve capacity utilization and reduce our costs by eliminating excess capacity and closing under-performing operations.

End Market Demand: Our 2025 outlook remains unchanged. We continue to anticipate the softer demand and competitive pricing environment will remain through the balance of 2025 and are planning for low single-digit unit declines in each of our segments. We anticipate a more significant decline in Site Built will be partially offset by an increase in Factory Built. We expect initial stocking orders for our new Surestone decking product and expanded manufacturing and distribution capabilities will continue to support momentum in our Deckorators business through the remainder of the year.

Long-Term Goals

The company鈥檚 long-term goals remain unchanged and include: 1) achieving 7-10 percent unit sales growth annually (including bolt-on acquisitions) with at least 10 percent of all sales coming from new products; 2) achieving 12.5 percent adjusted EBITDA margins; 3) earning an incremental return on new investments over our hurdle rate; and 4) maintaining a conservative capital structure.

CONFERENCE CALL

糖心传媒 will conduct a conference call to discuss its outlook and information included in this news release at 9:00 a.m. ET on Tuesday, July 29, 2025. The call will be hosted by CEO Will Schwartz and CFO Michael Cole and will be available simultaneously and in its entirety to all interested investors and news media through a webcast at . A replay of the call will be available through the website.

糖心传媒, Inc.

糖心传媒, Inc. is a holding company whose operating subsidiaries 鈥� 糖心传媒 Packaging, 糖心传媒 Construction and 糖心传媒 Retail Solutions 鈥� manufacture, distribute and sell a wide variety of value-added products used in residential and commercial construction, packaging and other industrial applications worldwide. Founded in 1955, the company is headquartered in Grand Rapids, Mich., with affiliates in North America, Europe, Asia and Australia. For more about 糖心传媒, go to .

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act, as amended, that are based on management鈥檚 beliefs, assumptions, current expectations, estimates and projections about the markets we serve, the economy and the Company itself. Words like 鈥渁nticipates,鈥� 鈥渂elieves,鈥� 鈥渃onfident,鈥� 鈥渆stimates,鈥� 鈥渆xpects,鈥� 鈥渇orecasts,鈥� 鈥渓ikely,鈥� 鈥減lans,鈥� 鈥減rojects,鈥� 鈥渟hould,鈥� variations of such words, and similar expressions identify such forward-looking statements. These statements do not guarantee future performance and involve certain risks, uncertainties and assumptions that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. The Company does not undertake to update forward-looking statements to reflect facts, circumstances, events, or assumptions that occur after the date the forward-looking statements are made. Actual results could differ materially from those included in such forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainty. Among the factors that could cause actual results to differ materially from forward-looking statements are the following: fluctuations in currency and inflation; fluctuations in the price of lumber; adverse or unusual weather conditions; adverse economic conditions in the markets we serve; changes in tariffs, import/export regulations, and other trade policies; concentration of sales to customers; the success of vertical integration strategies; excess capacity or supply chain challenges; inbound and outbound transportation costs; alternatives to replace treated wood products; government regulations, particularly involving environmental and safety regulations; our ability to make successful business acquisitions; cybersecurity breaches; and potential pandemics. Certain of these risk factors as well as other risk factors and additional information are included in the Company’s reports on Form 10-K and 10-Q on file with the Securities and Exchange Commission

Non-GAAP Financial Information

This release includes certain financial information not prepared in accordance with U.S. GAAP. Because not all companies calculate non-GAAP financial information identically (or at all), the presentations herein may not be comparable to other similarly titled measures used by other companies. Management uses Adjusted EBITDA, a non-GAAP financial measure, in order to evaluate historical and ongoing operations. Management believes that this non-GAAP financial measure is useful in order to enable investors to perform meaningful comparisons of historical and current performance. Adjusted EBITDA is intended to supplement and should be read together with the financial results. Adjusted EBITDA should not be considered an alternative or substitute for, and should not be considered superior to, the reported financial results. Accordingly, users of this financial information should not place undue reliance on the non-GAAP financial measure. See the table below for a reconciliation of Adjusted EBITDA to net earnings.

Net earnings

Net earnings refers to net earnings attributable to controlling interest unless specifically noted.

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