Financial Results
Net sales increased 12.2% to $310.9 million, and adjusted net sales increased 13.2% to $310.9 million.
Net income decreased 1.8% to $33.2 million from $33.8 million in the same quarter last year, while adjusted net income fell 3.7% to $34.0 million from $35.3 million.
Segment Performance
Residential net sales grew 8.4% to $230.3 million; Agtech net sales surged 38.8% to $57.6 million; Infrastructure net sales were flat at $23.1 million. Residential operating margin declined due to product mix and supply‑chain integration, infrastructure margin fell due to lower volume and supplier transition, and Agtech margin fell due to lower volume and integration activities.
Operational Highlights
The Renewables business was reclassified as discontinued operations on June 30, 2025, removing a margin drag. Backlog expanded 50% year‑over‑year to $257 million, and operating cash flow rose 39% to $57 million.
Management Commentary
Management noted that the residential building‑accessories business grew 2% in a market that was down 5‑10%, and that a large controlled‑environment agriculture project was delayed, impacting Agtech revenue.
Guidance
The company reaffirmed its full‑year 2025 outlook, narrowing the net‑sales range to $1.15‑$1.175 billion from the previous $1.15‑$1.20 billion, and lowering profit expectations. GAAP EPS guidance remains $3.67‑$3.77, and adjusted EPS guidance is $4.20‑$4.30.
Consensus Comparison
Adjusted diluted EPS for Q3 2025 was $1.14, down 0.9% from $1.15 in Q3 2024, missing consensus estimates of $1.22–$1.23. Revenue of $310.94 million missed consensus estimates of $323.85 million.
Strategic Focus
The company remains focused on its core residential, Agtech, and infrastructure businesses, with ongoing M&A activity and a strategic emphasis on building‑products expansion.
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