Segments (Tables)

6 Months Ended

Mar. 31, 2023

Summary of Residential and Commercial Segment Reporting Information

The segment data below includes data for Residential and Commercial for the three and six months ended March 31, 2023 and 2022 (in thousands).


	Three Months Ended March 31,						Six Months Ended March 31,
	2023			2022			2023			2022
Net sales to customers
Residential	$	342,116		$	350,358		$	521,600		$	571,491
Commercial		35,576			45,897			72,351			84,472
Total	$	377,692		$	396,255		$	593,951		$	655,963
Adjusted EBITDA
Residential	$	80,375		$	98,350		$	106,382		$	167,781
Commercial		7,829			8,675			12,983			13,423
Total Adjusted EBITDA for reporting segments	$	88,204		$	107,025		$	119,365		$	181,204
Unallocated net expenses		(15,394	)		(16,104	)		(31,455	)		(31,763	)
Adjustments to Income before income tax provision
Depreciation and amortization		(31,635	)		(29,042	)		(65,475	)		(57,124	)
Stock-based compensation costs		(5,626	)		(4,928	)		(9,583	)		(8,944	)
Acquisition costs (1)		(1,421	)		(5,136	)		(3,856	)		(5,633	)
Other costs (2)		(415	)		(177	)		(1,148	)		(662	)
Interest expense, net		(10,774	)		(4,010	)		(20,073	)		(8,158	)
Income (loss) before income tax provision	$	22,939		$	47,628		$	(12,225	)	$	68,920

(1)

Acquisition costs reflect costs directly related to completed acquisitions of $1.4 million and $3.9 million in the three months ended March 31, 2023 and 2022, respectively, and $3.9 million and $4.4 million in the six months ended March 31, 2023 and 2022, respectively, and inventory step-up adjustments related to recording inventory of acquired businesses at fair value on the date of acquisition of $1.2 million for the three and six months ended March 31, 2022.

(2)

Other costs include costs related to a reduction in workforce of $0.2 million in the three and six months ended March 31, 2023, respectively, costs for legal expense of $0.1 million in the three months ended March 31, 2022, and $0.2 million and $0.4 million in the six months ended March 31, 2023 and 2022 respectively, costs related to an incentive plan and other ancillary expenses associated with the initial public offering of $0.1 million for the six months ended March 31, 2022, and other costs of $0.2 million and $0.1 million for the three months ended March 31, 2023 and 2022, respectively, and $0.7 million and $0.2 million for the six months ended March 31, 2023 and 2022, respectively.