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Revenue
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
The following table summarizes the Company’s sales by major product and service line for the periods presented:
Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
Rail Products$47,570 $56,323 $76,889 $109,361 
Global Friction Management20,431 17,438 35,994 31,459 
Technology Services and Solutions7,972 11,833 17,105 27,397 
Rail, Technologies, and Services75,973 85,594 129,988 168,217 
Precast Concrete Products46,174 33,950 74,378 55,041 
Steel Products21,411 21,252 36,984 41,858 
Infrastructure Solutions67,585 55,202 111,362 96,899 
Total net sales$143,558 $140,796 $241,350 $265,116 

The majority of the Company’s revenue is from products transferred and services rendered to customers at a point in time. The Company recognizes revenue at the point in time at which the customer obtains control of the product or service, which is generally when the product title passes to the customer upon shipment or the service has been rendered to the customer. In limited cases, title does not transfer and revenue is not recognized until the customer has received the products at a designated physical location.

Net sales by the timing of the transfer of goods and services was as follows for the periods presented:
Three Months Ended June 30, 2025
Rail, Technologies, and ServicesInfrastructure SolutionsTotal
Point in time$66,173 $41,185 $107,358 
Over time9,800 26,400 36,200 
Total net sales$75,973 $67,585 $143,558 
Three Months Ended June 30, 2024
Rail, Technologies, and ServicesInfrastructure SolutionsTotal
Point in time$69,923 $35,127 $105,050 
Over time15,671 20,075 35,746 
Total net sales$85,594 $55,202 $140,796 

Six Months Ended June 30, 2025
Rail, Technologies, and ServicesInfrastructure SolutionsTotal
Point in time$111,098 $69,812 $180,910 
Over time18,890 41,550 60,440 
Total net sales$129,988 $111,362 $241,350 

Six Months Ended June 30, 2024
Rail, Technologies, and ServicesInfrastructure SolutionsTotal
Point in time$135,462 $64,784 $200,246 
Over time32,755 32,115 64,870 
Total net sales$168,217 $96,899 $265,116 
The Company’s performance obligations under long-term agreements with its customers are generally satisfied over time. Over time revenue is primarily comprised of transit infrastructure and technology services and solutions projects within the Rail segment, precast concrete buildings within the Precast Concrete Products division in the Infrastructure segment, and long-term bridge projects within the Steel Products division in the Infrastructure segment. Revenue under these long-term agreements is generally recognized over time, either using an input measure based upon the proportion of actual costs incurred to estimated total project costs or an input measure based upon actual labor costs as a percentage of estimated total labor costs, depending upon which measure the Company believes best depicts the Company’s performance to date under the terms of the contract. Revenue under these long-term agreements may also be recognized using an output method, specifically units delivered, based upon certain customer acceptance and delivery requirements. The use of an input or an output measure to recognize revenue is determined based on what is most appropriate given the nature of the work performed and terms of the associated agreement.

Accounting for these long-term agreements involves the use of various techniques to estimate total revenues and costs. The Company estimates profit on these long-term agreements as the difference between total estimated revenues and expected costs to complete a contract and recognizes that profit over the life of the contract. As a result of management's reviews of contract-related estimates the Company makes adjustments to contract estimates that impact our revenue and profit totals. Changes in estimates are primarily attributed to updated considerations, including economic conditions and historic contract patterns, resulting in changes to anticipated revenue from existing contracts. During the three and six months ended June 30, 2025 and 2024, reductions to net sales stemming from changes in actual and expected values of certain commercial contracts and settlements of such contracts were $1,647 and $1,477, respectively. The Company’s estimates related to these long-term agreements are further described in “Note 3. Revenue” of the Notes to the Company’s Consolidated Financial Statements contained in its Annual Report on Form 10-K for the year ended December 31, 2024.

Revenue recognized over time was as follows for the periods presented:
Three Months Ended
June 30,		Percentage of Total Net Sales
Three Months Ended June 30,
2025202420252024
Over time input method$6,884 $14,096 4.8 %10.0 %
Over time output method29,316 21,650 20.4 15.4 
Total over time sales$36,200 $35,746 25.2 %25.4 %


Six Months Ended
June 30,		Percentage of Total Net Sales
Six Months Ended June 30,
2025202420252024
Over time input method$14,627 $27,239 6.1 %10.3 %
Over time output method45,813 37,631 19.0 14.2 
Total over time sales$60,440 $64,870 25.1 %24.5 %

The timing of revenue recognition, billings, and cash collections results in billed receivables, costs in excess of billings (included in “Contract assets - net”), and billings in excess of costs (contract liabilities), included in “Deferred revenue” within the Condensed Consolidated Balance Sheets.

The following table sets forth the Company’s contract assets:
Contract Assets
Balance as of December 31, 2024$16,720 
Net additions to contract assets2,872 
Transfers from contract asset balance to accounts receivable (6,620)
Balance as of June 30, 2025
$12,972 

The following table sets forth the Company’s contract liabilities:
Contract Liabilities
Balance as of December 31, 2024$1,991 
Revenue recognized from contract liabilities(1,341)
Increase in billings in excess of cost, excluding revenue recognized 1,707 
Balance as of June 30, 2025
$2,357 
The Company has established policies regarding allowance for credit losses associated with contract assets, which includes standalone reserve assessments for its long term, complex contracts as needed as well as detailed regular review and updates to contract margins, progress, and value. A standard reserve threshold is applied to contract assets related to short term, less complex contracts. Management also regularly reviews collection patterns and future expected collections and makes necessary revisions to allowance for credit losses related to contract assets.

As of June 30, 2025, the Company had approximately $269,929 of remaining performance obligations, which is also referred to as backlog. Approximately 7.9% of the June 30, 2025 backlog was related to projects that are anticipated to extend beyond June 30, 2026.