NCI BUILDING SYSTEMS INC

CIK:0000883902|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 04, 2026	Jun. 28, 2025	Jul. 04, 2026	Jun. 28, 2025
Income Statement [Abstract]
Net sales	$ 1,443,397	$ 1,427,905	$ 2,652,744	$ 2,603,239
Cost of sales	1,207,643	1,115,590	2,256,891	2,054,389
Gross profit	235,754	312,315	395,853	548,850
Selling, general and administrative expenses	273,267	269,954	544,586	525,336
Impairment of long-lived assets	34,776	0	34,776	0
Income (loss) from operations	(72,289)	42,361	(183,509)	23,514
Interest expense	(128,209)	(121,845)	(254,138)	(239,526)
Foreign exchange gain (loss)	(2,759)	4,053	(3,820)	3,740
Other income, net	619	1,043	6,519	1,470
Loss before income taxes	(202,638)	(74,388)	(434,948)	(210,802)
Income tax benefit	(31,816)	(14,420)	(71,600)	(40,210)
Net loss	$ (170,822)	$ (59,968)	$ (363,348)	$ (170,592)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jul. 04, 2026	Jun. 28, 2025	Jul. 04, 2026	Jun. 28, 2025	Dec. 31, 2025
Cash flows from operating activities:
Net loss	$ (170,822)	$ (59,968)	$ (363,348)	$ (170,592)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	111,963	123,152	214,831	226,903
Amortization of debt issuance costs, debt discount and fair values			54,553	52,836
Share-based compensation expense			(3,766)	(2,417)
Amortization of acquisition related step-up adjustments			3,318	3,603
Loss (gain) on disposal of assets			(1,073)	284
Impairment of long-lived assets	34,776	0	34,776	0
Change in fair value of contingent consideration			126	701
Bargain purchase gain			(5,383)	0
Unrealized (gain) loss on foreign currency exchange rates			3,820	(3,740)
Provision for credit losses			6,378	4,725
Deferred income taxes			(87,245)	(89,195)
Changes in operating assets and liabilities, net of effect of acquisitions:
Accounts receivable, net			(126,758)	(140,435)
Inventories, net			(50,337)	(90,445)
Income and other taxes			29,971	49,573
Other current assets			(16,318)	13,754
Accounts payable			157,874	34,659
Accrued expenses			31,197	(22,787)
Other, net			(54,708)	367
Net cash used in operating activities			(172,092)	(132,206)
Cash flows from investing activities:
Acquisitions, net of cash acquired			7,531	0
Capital expenditures			(61,857)	(68,174)
Proceeds from sale of property, plant and equipment			3,633	664
Net cash used in investing activities			(50,693)	(67,510)
Cash flows from financing activities:
Proceeds from revolving credit facilities			247,000	0
Proceeds from term loans			0	230,000
Payments on term loans			(17,000)	(8,500)
Payment of contingent consideration			(5,343)	(11,488)
Net cash flows provided by financing activities			224,657	210,012
Effect of exchange rate changes on cash and cash equivalents			(1,052)	1,506
Net increase in cash and cash equivalents			820	11,802
Cash and cash equivalents at beginning of period			135,452	159,529	$ 159,529
Cash and cash equivalents at end of period	$ 136,272	$ 171,331	136,272	171,331	$ 135,452
Supplemental cash flow information:
Interest paid, net of interest rate swaps			195,637	189,374
Income taxes paid (refunded)			(16,709)	1,787
Capital expenditures included within accounts payable			$ 5,376	$ 4,022

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jul. 04, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 136,272,000	$ 135,452,000
Accounts receivable, net	685,879,000	567,065,000
Inventories, net	794,272,000	745,476,000
Assets held for sale	29,069,000	147,011,000
Other current assets	96,882,000	109,346,000
Total current assets	1,742,374,000	1,704,350,000
Property, plant and equipment, net	1,116,103,000	1,058,609,000
Lease right-of-use assets	439,793,000	458,708,000
Goodwill	731,160,000	739,408,000
Intangible assets, net	2,120,138,000	2,209,818,000
Other assets, net	31,000,000	37,843,000
Total assets	6,180,568,000	6,208,736,000
Current liabilities:
Current portion of long-term debt	34,000,000	34,000,000
Current portion of lease liabilities	76,915,000	96,866,000
Accounts payable	431,278,000	269,393,000
Accrued income and other taxes	24,580,000	23,175,000
Employee-related liabilities	105,324,000	91,149,000
Rebates, warranties and other customer-related liabilities	147,045,000	154,917,000
Accrued interest	71,051,000	68,375,000
Liabilities held for sale	29,069,000	0
Other current liabilities	38,581,000	43,109,000
Total current liabilities	957,843,000	780,984,000
Long-term debt	5,247,561,000	4,967,387,000
Long-term lease liabilities	349,978,000	358,435,000
Deferred income tax liabilities	275,146,000	363,540,000
Other long-term liabilities	238,152,000	243,487,000
Total liabilities	7,068,680,000	6,713,833,000
Commitments and contingencies (Note 13)
Equity:
Common stock, $0.01 par value, 1,000 shares authorized, issued and outstanding at July 4, 2026 and December 31, 2025	0	0
Additional paid-in capital	1,540,420,000	1,544,186,000
Accumulated deficit	(2,394,737,000)	(2,031,389,000)
Accumulated other comprehensive loss	(33,795,000)	(17,894,000)
Total equity (deficit)	(888,112,000)	(505,097,000)
Total liabilities and equity (deficit)	$ 6,180,568,000	$ 6,208,736,000