Total Revenue

–4% YoY (from $366.55M in Q4 2024 to $351.88M in Q4 2025)

Total Revenue declined by about 4% YoY, reflecting weaker sales performance across segments despite stable geographic revenue mix (U.S. at $342.99M and Canada at $8.84M). " " This drop may indicate softer end‐market demand or a shift in pricing or product mix compared to the previous period.

Operating Income

–4% YoY (from $42,273K in Q4 2024 to $40,434K in Q4 2025)

Operating Income decreased by around 4% YoY, suggesting that despite a modest revenue contraction, cost pressures or higher operating expenses prevented margin expansion. The slight decline from $42,273K to $40,434K indicates that while the company maintained a disciplined cost structure, higher costs or inefficiencies relative to the previous period still had an impact. " "

Net Income

+13% YoY (from $17,863K in Q4 2024 to $20,210K in Q4 2025)

Net Income improved by 13% YoY despite lower revenue, likely due to enhanced bottom‐line efficiency, better cost management, or beneficial tax effects. The jump from $17,863K to $20,210K shows a stronger conversion of operating performance to net profitability relative to the previous period. " "

Operating Cash Flow

Surge from $66,167K in Q3 2025 to $249,909K in Q4 2025 (quarterly change)

Operating Cash Flow rebounded dramatically, climbing from $66,167K in Q3 2025 to $249,909K in Q4 2025. This marked improvement can be attributed to effective working capital management, stronger earnings conversion, and possibly seasonally improved cash collections relative to the prior quarter. " "

Other Assets

Jump from $4,014K in Q3 2025 to $1,258,716K in Q4 2025

Other Assets experienced a substantial non‐operational adjustment, increasing sharply from $4,014K to $1,258,716K. This dramatic reclassification likely reflects accounting adjustments or one‐off transactions not driven by underlying operational performance compared to the previous period. "

Long-term Debt

Declined modestly to $852,365K in Q4 2025

Long-term Debt decreased modestly to $852,365K, reflecting ongoing debt reduction and capital structure optimization efforts. The gradual decrease compared to prior periods underscores the company’s focus on reducing leverage through disciplined debt repayments and refinancing activity. "

Sales

FY 2026

$1.55 billion to $1.6 billion "

$1.625 billion to $1.725 billion "

raised

Adjusted EBITDA

FY 2026

$340 million to $360 million "

$360 million to $400 million "

raised

Adjusted EPS

FY 2026

$5 to $5.30 "

$5.50 to $6.10 "

raised

Capital Expenditures

FY 2026

$100 million to $120 million "

$60 to $80 "

lowered

Debt Paydowns

FY 2026

Expected to exceed $100 million "

Expected to exceed $165 million "

raised

Weather Disruptions & Operational Resilience

In Q1 earnings, weather events (e.g., a minor hurricane) caused very limited disruptions. " " Q2 calls acknowledged weather challenges and even highlighted opportunities from hurricanes. " " Q3 discussions focused on hurricane‐induced disruptions affecting limited operations with an emphasis on effective recovery. "

Q4 stressed record‐high weather disruptions (over 200 lost production days, significant revenue impacts) while underscoring strong operational resilience and recovery capabilities. " " " "

Consistently featured across periods, with Q4 showing increased severity of weather impacts yet equally robust recovery efforts.

Capacity Expansion

Q1 through Q3 repeatedly discussed the Washington, Missouri facility: its planned ramp-up, cautious execution, and operational risks balanced against the growth potential. " " " " " " "

Q4 presented the new facility’s ramp-up in more aggressive terms with detailed revenue expectations and margin benefits, despite ongoing operational challenges. " " " "

A consistently prioritized theme that evolves from cautious ramp-up to more aggressive revenue and margin outlook while acknowledging execution risks.

Tariff Uncertainty & Commodity/Input Cost Volatility

Q1 mentioned rising zinc prices and its impact on cost structures without explicit tariff concerns. " " Q2 emphasized pronounced zinc price volatility with anticipation of lower trends. " " Q3 discussed tariff impacts on supplies and painted steel along with zinc cost adjustments. " " " "

In Q4, the dialogue highlighted that while tariffs affected secondary supply items, strategic measures (e.g., zinc’s tariff exemption and negotiated price adjustments) are effectively mitigating these impacts. " " " " "

Throughout, concerns have evolved from cost volatility and tariff-related uncertainties to a more managed and even offset risk profile in Q4.

Margin Performance & Operational Efficiency

Q1 highlighted strong EBITDA margins in Metal Coatings and Precoat Metals with cautious remarks about seasonality and rising zinc costs. " " " Q2 reported steady improvements with higher EBITDA and productivity gains. " " " Q3 continued the trend with impressive EBITDA and gross margin improvements driven by operational discipline. " " " "

Q4 reported robust margins despite severe weather challenges, with continued strategic price adjustments and operational improvements that enabled strong EBITDA performance and working capital efficiency. " " "

A consistently strong performance theme with steady margin improvements and disciplined operational efficiency across periods, even under seasonal and external pressures.

Infrastructure Spending & Emerging Market Opportunities

Q1 discussions were optimistic about public spending and emerging markets including data centers, T&D, and renewables backing strong sales growth. " " Q2 underscored strong public sector spending on bridges, highways, and renewables, along with emerging data center opportunities. " " " " " Q3 reinforced positive outlooks on infrastructure spending and emerging market growth, viewing these investments as transformative. " " "

Q4 continued this optimistic narrative, highlighting sustained public infrastructure spending (AIIJA, bridges/highways, T&D) and emerging opportunities in traditional construction markets and renewables as key drivers for fiscal 2026. " "

The sector remains consistently optimistic with a steady focus on public investments and emerging opportunities, reinforcing a positive long-term growth narrative.

Product Conversion

Q1 explicitly noted that the conversion from plastics to aluminum in the beverage industry was proceeding slower than anticipated, even as the secular trend remained positive. " Q2 confirmed the trend as a secular opportunity " , and Q3 reinforced the conversion trend as a durable growth opportunity through investments in new facilities. " "

In Q4, there was no mention of the product conversion from plastics to aluminum, indicating that this theme has become underemphasized relative to other priorities.

Initially highlighted as a slower-than-expected trend in Q1, the focus on product conversion has diminished or become less salient by Q4, suggesting a shift in emphasis toward other growth drivers.