Segment Information

6 Months Ended

Jun. 30, 2023

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, rain dispersion products, trims and flashings and other accessories;

(iii)Agtech, which provides growing 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 six months ended June 30, (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Net sales:
Renewables	$	77,459	$	101,549	$	136,664	$	180,332
Residential	228,234		200,245		407,729		379,730
Agtech	35,028		43,680		70,880		86,108
Infrastructure	24,193		21,475		42,908		38,644
Total net sales	$	364,914	$	366,949	$	658,181	$	684,814
Income from operations:
Renewables	$	5,908	$	6,829	$	8,177	$	(155)
Residential	43,959		35,664		73,468		69,099
Agtech	(1,117)		1,542		1,213		1,573
Infrastructure	5,828		2,887		8,542		4,068
Unallocated Corporate Expenses	(11,501)		(6,783)		(18,953)		(13,251)
Total income from operations	$	43,077	$	40,139	$	72,447	$	61,334

	June 30, 2023		December 31, 2022
Total assets:
Renewables	$	404,447	$	392,368
Residential	546,480		519,567
Agtech	182,942		193,966
Infrastructure	84,255		80,264
Unallocated corporate assets	20,453		24,448
	$	1,238,577	$	1,210,613

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

	Three Months Ended June 30, 2023
	Renewables		Residential		Agtech		Infrastructure		Total
Net sales:
Point in Time	$	10,633	$	226,618	$	880	$	8,848	$	246,979
Over Time	66,826		1,616		34,148		15,345		117,935
Total net sales	$	77,459	$	228,234	$	35,028	$	24,193	$	364,914

	Three Months Ended June 30, 2022
	Renewables		Residential		Agtech		Infrastructure		Total
Net sales:
Point in Time	$	5,259	$	198,854	$	4,029	$	8,936	$	217,078
Over Time	96,290		1,391		39,651		12,539		149,871
Total net sales	$	101,549	$	200,245	$	43,680	$	21,475	$	366,949

	Six Months Ended June 30, 2023
	Renewables		Residential		Agtech		Infrastructure		Total
Net sales:
Point in Time	$	19,727	$	404,560	$	4,803	$	14,909	$	443,999
Over Time	116,937		3,169		66,077		27,999		214,182
Total net sales	$	136,664	$	407,729	$	70,880	$	42,908	$	658,181

	Six Months Ended June 30, 2022
	Renewables		Residential		Agtech		Infrastructure		Total
Net sales:
Point in Time	$	10,909	$	376,985	$	5,642	$	15,239	$	408,775
Over Time	169,423		2,745		80,466		23,405		276,039
Total net sales	$	180,332	$	379,730	$	86,108	$	38,644	$	684,814