The company generated net sales of $4.21 billion for the twelve months ended December 31, 2025, with Residential sales of $2.50 billion and Commercial & Industrial sales of $1.76 billion. Residential contributed about 59% of total net sales, while Commercial & Industrial accounted for roughly 42%.
Cost of goods sold came in at $2.60 billion, leaving gross profit of $1.61 billion. Residential cost of goods sold was $1.35 billion against sales of $2.50 billion, while Commercial & Industrial posted $1.30 billion of cost of goods sold on $1.76 billion of sales.
Operating expenses totaled $1.32 billion, including $844.3 million in Residential, $396.7 million in Commercial & Industrial, and $81.5 million at Corporate and Eliminations.
The company reported Adjusted EBITDA of $715.5 million. That included $558.1 million from Residential and $199.6 million from Commercial & Industrial, partially offset by $42.2 million at Corporate and Eliminations. Residential supplied about 78% of total Adjusted EBITDA, compared with about 28% from Commercial & Industrial before corporate costs.
Other segment items were a $426.4 million drag, including $249.9 million in Residential and $137.2 million in Commercial & Industrial, plus $39.2 million at Corporate and Eliminations.
Below Adjusted EBITDA, the company recorded $70.7 million of interest expense and $194.8 million of depreciation and amortization. It also booked $158.0 million in legal, regulatory and other costs, $49.9 million in share-based compensation, and $20.6 million in losses tied to changes in the fair value of investments. After all items, income before provision for income taxes was $199.1 million. Following these announcements, the company's shares moved -0.36%, and are now trading at a price of $160.85. If you want to know more, read the company's complete 8-K report here.
