Segment Information

9 Months Ended

Sep. 30, 2022

Segment Reporting Information, Revenue for Reportable Segment [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

The Company is organized into four reportable segments on the basis of the production processes, products and services provided by each segment, identified as follows:

(i)Renewables, which primarily includes designing, engineering, manufacturing and installation of solar racking and electrical balance of systems;

(ii)Residential, which primarily includes roof and foundation ventilation products, centralized mail systems and electronic package solutions, retractable awnings and gutter guards, and rain dispersion products, trims and flashings and other accessories;

(iii)Agtech, which provides growing and processing solutions including the designing, engineering, manufacturing and installation of greenhouses; and

(iv)Infrastructure, which primarily includes structural bearings, expansion joints and pavement sealant for bridges, airport runways and roadways, elastomeric concrete, and bridge cable protection systems.

When determining the reportable segments, the Company aggregated operating segments based on their similar economic and operating characteristics.

The following table illustrates certain measurements used by management to assess performance of the segments described above for the three and nine months ended September 30, (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Net sales:
Renewables	$	111,119	$	130,162	$	291,451	$	323,425
Residential	215,592		171,545		595,322		475,971
Agtech	44,217		48,975		130,325		149,410
Infrastructure	20,363		18,671		59,007		56,528
Total net sales	$	391,291	$	369,353	$	1,076,105	$	1,005,334
Income from operations:
Renewables	$	14,216	$	12,206	$	14,061	$	21,195
Residential	35,802		29,482		104,901		79,571
Agtech	3,777		2,227		5,350		4,133
Infrastructure	2,572		1,640		6,640		7,863
Unallocated Corporate Expenses	(8,971)		(7,577)		(22,222)		(30,560)
Total income from operations	$	47,396	$	37,978	$	108,730	$	82,202

	September 30, 2022		December 31, 2021
Total assets:
Renewables	$	419,214	$	445,486
Residential	581,167		453,469
Agtech	219,800		212,038
Infrastructure	84,626		82,662
Unallocated corporate assets	21,456		21,246
	$	1,326,263	$	1,214,901

The following tables illustrate segment revenue disaggregated by timing of transfer of control to the customer for the three and nine months ended September 30 (in thousands):

	Three Months Ended September 30, 2022
	Renewables		Residential		Agtech		Infrastructure		Total
Net sales:
Point in Time	$	7,660	$	214,175	$	3,510	$	9,938	$	235,283
Over Time	103,459		1,417		40,707		10,425		156,008
Total net sales	$	111,119	$	215,592	$	44,217	$	20,363	$	391,291

	Three Months Ended September 30, 2021
	Renewables		Residential		Agtech		Infrastructure		Total
Net sales:
Point in Time	$	8,835	$	170,280	$	4,010	$	8,194	$	191,319
Over Time	121,327		1,265		44,965		10,477		178,034
Total net sales	$	130,162	$	171,545	$	48,975	$	18,671	$	369,353

	Nine Months Ended September 30, 2022
	Renewables		Residential		Agtech		Infrastructure		Total
Net sales:
Point in Time	$	18,569	$	591,160	$	9,152	$	25,177	$	644,058
Over Time	272,882		4,162		121,173		33,830		432,047
Total net sales	$	291,451	$	595,322	$	130,325	$	59,007	$	1,076,105

	Nine Months Ended September 30, 2021
	Renewables		Residential		Agtech		Infrastructure		Total
Net sales:
Point in Time	$	21,855	$	472,277	$	16,541	$	25,301	$	535,974
Over Time	301,570		3,694		132,869		31,227		469,360
Total net sales	$	323,425	$	475,971	$	149,410	$	56,528	$	1,005,334