Segment Information

9 Months Ended

Sep. 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 nine months ended September 30, (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Net sales:
Renewables	$	106,362	$	111,119	$	243,026	$	291,451
Residential	227,747		215,592		635,476		595,322
Agtech	31,666		44,217		102,546		130,325
Infrastructure	24,969		20,363		67,877		59,007
Total net sales	$	390,744	$	391,291	$	1,048,925	$	1,076,105
Income from operations:
Renewables	$	12,907	$	14,216	$	21,084	$	14,061
Residential	42,158		35,802		115,626		104,901
Agtech	2,136		3,777		3,349		5,350
Infrastructure	6,386		2,572		14,928		6,640
Unallocated Corporate Expenses	(10,397)		(8,971)		(29,350)		(22,222)
Total income from operations	$	53,190	$	47,396	$	125,637	$	108,730

	September 30, 2023		December 31, 2022
Total assets:
Renewables	$	399,969	$	392,368
Residential	539,800		519,567
Agtech	182,988		193,966
Infrastructure	79,877		80,264
Unallocated corporate assets	85,412		24,448
	$	1,288,046	$	1,210,613

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, 2023
	Renewables		Residential		Agtech		Infrastructure		Total
Net sales:
Point in Time	$	15,903	$	225,985	$	777	$	9,922	$	252,587
Over Time	90,459		1,762		30,889		15,047		138,157
Total net sales	$	106,362	$	227,747	$	31,666	$	24,969	$	390,744

	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

	Nine Months Ended September 30, 2023
	Renewables		Residential		Agtech		Infrastructure		Total
Net sales:
Point in Time	$	35,630	$	630,545	$	5,580	$	24,831	$	696,586
Over Time	207,396		4,931		96,966		43,046		352,339
Total net sales	$	243,026	$	635,476	$	102,546	$	67,877	$	1,048,925

	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