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Interim Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Net sales:        
Total net sales $ 419,073 $ 416,303 $ 810,023 $ 841,889
Cost of sales 310,781 308,122 598,890 622,076
Gross profit 108,292 108,181 211,133 219,813
Selling, general and administrative expenses 57,136 60,817 111,466 121,411
Amortization expense 4,078 4,055 8,127 8,114
Income from operations 47,078 43,309 91,540 90,288
Interest expense (3,684) (6,098) (6,878) (12,189)
Interest income 1,195 514 2,433 1,315
Other income (expense), net (3,183) (65) (3,846) 33
Income before income taxes 41,406 37,660 83,249 79,447
Provision for income taxes 10,300 9,336 20,343 19,003
Net Income $ 31,106 $ 28,324 $ 62,906 $ 60,444
Net income per common share:        
Basic (in dollars per share) $ 2.59 $ 2.36 $ 5.24 $ 5.05
Diluted (in dollars per share) $ 2.57 $ 2.35 $ 5.21 $ 5.02
Average common shares:        
Basic (in shares) 12,020 11,974 12,005 11,959
Diluted (in shares) 12,083 12,044 12,066 12,032
Dividends declared (in dollars per share) $ 0.30 $ 0.26 $ 0.60 $ 0.52
Vegetation Management        
Net sales:        
Total net sales $ 178,358 $ 211,535 $ 342,248 $ 435,282
Cost of sales 134,193 157,921 255,706 322,466
Income from operations 12,751 16,006 26,063 37,685
Industrial Equipment        
Net sales:        
Total net sales 240,715 204,768 467,775 406,607
Cost of sales 176,588 150,201 343,184 299,610
Income from operations $ 34,327 $ 27,303 $ 65,477 $ 52,603