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GPGI Holdings and Husky Holdings pay Resolute Holdings Management, Inc. to manage their operations and provide related services. They are its only management-fee customers. Resolute owns no equity in either entity or their parent, GPGI: it earns fees rather than returns on ownership. The customers pay quarterly, with fees based on each business’s trailing-year earnings as adjusted under its management agreement, without counting the same earnings twice.
The underlying businesses are CompoSecure and Husky. CompoSecure makes premium metal payment cards and secure authentication solutions for card issuers. Husky sells injection molding equipment, tooling, parts and services, with most sales coming from plastic-packaging applications, particularly PET packaging.
Resolute’s fee income therefore depends on how these businesses perform. JPMorgan Chase and American Express together supply most of CompoSecure’s sales, making those relationships especially important. CompoSecure must also retain required payment-network and facility certifications to serve card-issuing banks. Husky’s performance depends heavily on customers’ demand for plastic-packaging equipment and services.
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Resolute’s fees also depend on Husky Holdings’ earnings from injection-molding equipment, tooling, parts and services, adding packaging, beverage and medical manufacturing demand to its premium payment-card exposure.
GPGI, Inc.’s operating performance drives Resolute’s revenue: Resolute manages its CompoSecure and Husky businesses, whose holding entities pay fees tied to adjusted earnings before interest, taxes, depreciation and amortization (EBITDA). Watch earnings from CompoSecure’s premium metal payment cards sold to card issuers and Husky’s injection-molding equipment, tooling, parts and services sold to manufacturers.
American Express buys payment cards from Resolute-managed CompoSecure, so its card orders feed into the adjusted earnings that determine Resolute’s management fees. American Express earns mainly from card spending, with finance charges and fees also contributing; together with JPMorgan Chase, it accounted for approximately 55% of CompoSecure’s 2025 net sales, making continued card orders and meeting its quality and delivery requirements important to watch.
JPMorgan Chase, which provides financial services to consumers, businesses and institutions, buys payment cards from Resolute-managed CompoSecure, linking its card orders to the adjusted earnings behind Resolute’s management fees. It and American Express accounted for approximately 55% of CompoSecure’s 2025 net sales, so losing its card business or failing to meet its quality and delivery requirements could materially affect CompoSecure and the fees Resolute earns.
American Express Company earningsAXP
American Express is a major CompoSecure customer, and its report will show whether its card business is healthy enough to support demand for cards that feed Resolute's fee base.
Watch American Express's cardmember spending and account growth, and any card-issuance or purchasing trends it reports. More spending signals stronger customer activity, but does not by itself mean CompoSecure received more orders. If accounts and spending hold up and card issuance or orders also look firm, this major customer is more likely to support CompoSecure's sales and adjusted earnings, which feed Resolute's management-fee base. If customer activity weakens or orders fall, CompoSecure's reliance on large customers becomes more exposed. American Express and JPMorgan together accounted for about 55% of CompoSecure's 2025 net sales.
Resolute Holdings Management, Inc. earningsThis company
Resolute Holdings earns recurring fees for managing GPGI and Husky, and this report will show whether their performance supports that income.
Read management-fee revenue alongside adjusted EBITDA (earnings before interest, taxes, depreciation and amortization, with specified adjustments) at GPGI and Husky: each quarterly fee is based on that business's adjusted EBITDA over the last 12 months. If those earnings bases keep strengthening and fees rise without Resolute's own costs rising as fast, its management income has firmer support; weaker bases and fees, or costs that absorb the gains, would pressure income for Resolute's common shareholders. Do not mistake consolidated net sales for fee revenue: the fee is eliminated in consolidation, leaving GPGI's product sales in consolidated net sales.
GPGI, Inc. earningsGPGI
GPGI, Inc.'s report will show how CompoSecure's metal payment cards and Husky's injection-molding equipment businesses are doing, and their adjusted earnings determine Resolute's fee base.
Look separately at adjusted EBITDA for CompoSecure and Husky alongside the management fees Resolute earns from each: fees are based on each business's adjusted EBITDA over the last 12 months, so improvement that lasts builds the corresponding fee base. If both improve, the fee stream has support from both businesses; if one grows while the other weakens, it depends more on the stronger one; if both weaken, Resolute's recurring income has less support. Compare CompoSecure's card sales and margins with Husky's equipment, tooling, parts and services results to see which business is driving the change.
