Segment Information

6 Months Ended

Jun. 30, 2024

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)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;

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

(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 (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Net sales:
Residential	$	214,316	$	228,234	$	399,427	$	407,729
Renewables	79,381		77,459		130,877		136,664
Agtech	34,508		35,028		68,535		70,880
Infrastructure	24,800		24,193		46,672		42,908
Total net sales	$	353,005	$	364,914	$	645,511	$	658,181
Income from operations:
Residential	$	43,313	$	43,959	$	77,659	$	73,468
Renewables	1,647		5,908		3,291		8,177
Agtech	2,282		(1,117)		4,890		1,213
Infrastructure	6,215		5,828		11,111		8,542
Unallocated corporate expenses	(10,988)		(11,501)		(22,746)		(18,953)
Total income from operations	$	42,469	$	43,077	$	74,205	$	72,447

The following table illustrates the total assets of the Company's reportable segments and unallocated corporate assets as of (in thousands):

	June 30, 2024		December 31, 2023
Total assets:
Residential	$	537,821	$	515,739
Renewables	396,954		377,694
Agtech	167,087		168,213
Infrastructure	84,605		77,518
Unallocated corporate assets	190,474		117,287
	$	1,376,941	$	1,256,451

The following tables illustrate segment revenue disaggregated by timing of transfer of control to the customer for the (in thousands):

	Three Months Ended June 30, 2024
	Residential		Renewables		Agtech		Infrastructure		Total
Net sales:
Point in Time	$	212,524	$	8,226	$	189	$	10,839	$	231,778
Over Time	1,792		71,155		34,319		13,961		121,227
Total net sales	$	214,316	$	79,381	$	34,508	$	24,800	$	353,005

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

	Six Months Ended June 30, 2024
	Residential		Renewables		Agtech		Infrastructure		Total
Net sales:
Point in Time	$	395,856	$	15,015	$	2,528	$	17,149	$	430,548
Over Time	3,571		115,862		66,007		29,523		214,963
Total net sales	$	399,427	$	130,877	$	68,535	$	46,672	$	645,511

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