Segment Information

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Segment Information

15.Segment Information

The Company currently operates in two reportable segments: marine and concrete. The Company’s financial reporting systems present various data for management to run the business, including profit and loss statements prepared according to the segments presented. Management uses operating income to evaluate performance between the two segments. Segment information for the periods presented is provided as follows:

	Three months ended
	March 31,
		2024		2023
Marine
Contract revenues	$	106,325	$	79,298
Operating loss	$	(4,866)	$	(6,080)
Depreciation and amortization expense	$	(4,931)	$	(3,835)
Total assets	$	275,969	$	231,851
Property and equipment, net	$	80,261	$	88,957
Concrete
Contract revenues	$	54,347	$	79,876
Operating income (loss)	$	1,742	$	(4,563)
Depreciation and amortization expense	$	(1,089)	$	(1,611)
Total assets	$	87,615	$	112,336
Property and equipment, net	$	5,212	$	8,350

There were $0.6 million and less than $0.1 million in intersegment revenues between the Company’s two reportable segments for the three months ended March 31, 2024 and 2023, respectively. The marine segment had foreign revenues of $9.6 million and $2.8 million for the three months ended March 31, 2024 and 2023, respectively. These revenues are derived from projects in the Caribbean Basin and are paid primarily in U.S. dollars. There was no foreign revenue for the concrete segment.