REVENUE RECOGNITION

3 Months Ended

Sep. 30, 2025

Revenue from Contract with Customer [Abstract]

REVENUE RECOGNITION

REVENUE RECOGNITION

Disaggregation of Revenues

The following tables present the Company's net sales by reportable segment and by geographic areas based on the location of the facility shipping the product for the three months ended September 30, 2025 and 2024. Other countries consist of Mexico, Australia, New Zealand, Singapore, and Costa Rica.

	Three Months Ended September 30,
	2025						2024
	Service Center		Engineered Solutions		Total		Service Center		Engineered Solutions		Total
Geographic Areas:
United States	$	656,804	$	399,683	$	1,056,487	$	625,682	$	331,551	$	957,233
Canada	75,317		—		75,317		71,476		—		71,476
Other countries	50,353		17,366		67,719		52,581		17,654		70,235
Total	$	782,474	$	417,049	$	1,199,523	$	749,739	$	349,205	$	1,098,944

The following tables present the Company’s percentage of revenue by reportable segment and major customer industry for the three months ended September 30, 2025 and 2024:

	Three Months Ended September 30,
	2025						2024
	Service Center		Engineered Solutions		Total		Service Center		Engineered Solutions		Total
General Industry	34.4	%	42.5	%	37.1	%	35.2	%	39.0	%	36.4	%
Industrial Machinery	7.9	%	24.0	%	13.5	%	8.1	%	22.6	%	12.5	%
Food	15.9	%	2.6	%	11.3	%	15.3	%	3.1	%	11.5	%
Metals	11.5	%	7.1	%	10.0	%	11.2	%	8.2	%	10.3	%
Forest Products	11.8	%	2.1	%	8.4	%	11.8	%	3.2	%	9.2	%
Chem/Petrochem	2.7	%	13.0	%	6.3	%	2.9	%	16.2	%	6.9	%
Cement & Aggregate	7.6	%	1.2	%	5.4	%	7.3	%	1.3	%	5.5	%
Transportation	3.5	%	5.2	%	4.1	%	3.8	%	4.7	%	4.1	%
Oil & Gas	4.7	%	2.3	%	3.9	%	4.4	%	1.7	%	3.6	%
Total	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%

The following tables present the Company’s percentage of revenue by reportable segment and product line for the three months ended September 30, 2025 and 2024:

	Three Months Ended September 30,
	2025						2024
	Service Center		Engineered Solutions		Total		Service Center		Engineered Solutions		Total
Power Transmission	37.5	%	8.6	%	27.5	%	37.9	%	11.0	%	29.7	%
General MRO & Other	22.3	%	25.0	%	23.2	%	22.2	%	18.1	%	20.8	%
Fluid Power	14.3	%	37.7	%	22.4	%	13.9	%	33.8	%	20.0	%
Bearings, Linear & Seals	25.9	%	0.3	%	17.0	%	26.0	%	0.5	%	18.2	%
Specialty Flow Control	—	%	28.4	%	9.9	%	—	%	36.6	%	11.3	%
Total	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%

Contract Assets and Liabilities

Depending on the terms of the contracts with certain customers, the Company may receive payments from customers before the goods or services are delivered, typically as down payments for products to be delivered in the future. These amounts are recorded as contract liabilities (deferred revenue), as the performance obligations have not yet been satisfied. The Company’s contract assets consist of unbilled amounts resulting from contracts for which revenue is recognized over time using the cost-to-cost method, and for which revenue recognized exceeds the amount billed to the customer.

Activity related to contract assets and contract liabilities, which are included in other current assets and other current liabilities on the condensed consolidated balance sheet, is as follows:

	September 30, 2025		June 30, 2025		$ Change		% Change
Contract assets	$	12,283	$	11,659	$	624	5.4	%
Contract liabilities	28,748		29,244		(496)		(1.7)	%

The change in balances noted above of the Company's contract assets primarily results from the timing difference between the Company's performance and when the customer is billed.