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Segment Information
6 Months Ended
Jun. 30, 2025
Segment Reporting Information, Revenue for Reportable Segment [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
The Company has three reportable segments: Residential, Agtech, and Infrastructure. The Company's reportable segments are each managed separately because they design, engineer, manufacture, and where applicable install, distinct products with different production processes.
Residential consists of operating segments that sell the following products and services to major retail home centers, building material wholesalers, building product distributors, roofing distributors, residential contractors, property management companies, manufactured housing dealers, postal services distributors and providers, and online direct to end consumers: roof and foundation ventilation products, single point and centralized mail systems and package solutions, outdoor living space products (sun-shading), rain dispersion systems, metal roofing job site services, and other construction accessories.
Agtech consists of an operating segment that sells the following products and services to large-scale indoor commercial growers, agricultural research, development facilities, as well as convenience store, travel centers, food retailers, and quick-serve restaurants: design, manufacture and build controlled environmental agriculture, custom greenhouses and structural canopies.
Infrastructure consists of an operating segment that sells the following products to commercial and transportation contractors and fabricators: expansion joints, structural bearings, rubber pre-formed seals and other sealants, elastomeric concrete, and bridge cable protection systems.
The accounting policies of the Company's segments are the same as those described in Note 1 "Summary of Significant Accounting Policies" included in the Company's annual report on Form 10-K for the year ended December 31, 2024. The following tables illustrate certain measurements used by management to assess the performance of the segments described above (in thousands):
Three Months Ended June 30, 2025
ResidentialAgtechInfrastructureTotal
Net sales$230,258 $54,092 $25,167 $309,517 
Less (1):
Operating expenses (2)186,647 54,586 18,084 259,317 
Segment profit (loss)43,611 (494)7,083 50,200 
Reconciliation of segment profit
Unallocated corporate expenses(10,694)
Interest expense, net(354)
Other income, net105 
Income before taxes from continuing operations$39,257 
Three Months Ended June 30, 2024
ResidentialAgtechInfrastructureTotal
Net sales$214,316 $34,508 $24,800 $273,624 
Less (1):
Operating expenses (2)171,003 32,226 18,585 221,814 
Segment profit43,313 2,282 6,215 51,810 
Reconciliation of segment profit
Unallocated corporate expenses(10,988)
Interest income, net1,495 
Other expense, net(186)
Income before taxes from continuing operations$42,131 
Six Months Ended June 30, 2025
ResidentialAgtechInfrastructureTotal
Net sales$410,252 $99,132 $46,490 $555,874 
Less (1):
Operating expenses (2)335,381 96,241 34,149 465,771 
Segment profit74,871 2,891 12,341 90,103 
Reconciliation of segment profit
Unallocated corporate expenses(21,942)
Interest income, net1,283 
Other income, net29 
Income before taxes from continuing operations$69,473 
Six Months Ended June 30, 2024
ResidentialAgtechInfrastructureTotal
Net sales$399,427 $68,535 $46,672 $514,634 
Less (1):
Operating expenses (2)321,768 63,645 35,561 420,974 
Segment profit77,659 4,890 11,111 93,660 
Reconciliation of segment profit
Unallocated corporate expenses(22,746)
Interest income, net2,245 
Other income, net166 
Income before taxes from continuing operations$73,325 
Footnotes:
(1)The significant expense category and amounts align with the segment-level information that is regularly provided to the CODM.
(2)Operating expenses for each reportable segment includes inventory and manufacturing expenses, employee compensation, depreciation and amortization, freight services, other costs of sales expenses, and other selling, general and administrative expenses.
The following table is the reported segment’s and unallocated corporate reported depreciation and amortization (in thousands):
Three Months Ended
June 30,
Six Months Ended
June 30,
2025202420252024
Residential$3,239 $2,507 $5,766 $5,098 
Agtech4,539 808 7,299 1,638 
Infrastructure699 747 1,400 1,492 
Unallocated corporate expenses817 641 1,635 1,238 
Total depreciation and amortization$9,294 $4,703 $16,100 $9,466 
The following table is the reported segment's and unallocated corporate assets as of (in thousands):
June 30,
2025
December 31,
2024
Residential$665,811 $497,317 
Agtech298,960 156,941 
Infrastructure81,750 78,366 
Unallocated corporate assets66,495 295,350 
Assets of discontinued operations369,736 391,436 
Total assets$1,482,752 $1,419,410 
The following presents disaggregated revenue by timing of transfer of control to customers by reported segment (in thousands):
Three Months Ended June 30, 2025
ResidentialAgtechInfrastructureTotal
Point in Time$230,258 $144 $11,674 $242,076 
Over Time— 53,948 13,493 67,441 
Total net sales$230,258 $54,092 $25,167 $309,517 
Three Months Ended June 30, 2024
ResidentialAgtechInfrastructureTotal
Point in Time$212,524 $189 $10,839 $223,552 
Over Time1,792 34,319 13,961 50,072 
Total net sales$214,316 $34,508 $24,800 $273,624 
Six Months Ended June 30, 2025
ResidentialAgtechInfrastructureTotal
Point in Time$410,252 $420 $19,554 $430,226 
Over Time— 98,712 26,936 125,648 
Total net sales$410,252 $99,132 $46,490 $555,874 
Six Months Ended June 30, 2024
ResidentialAgtechInfrastructureTotal
Point in Time$395,856 $2,528 $17,149 $415,533 
Over Time3,571 66,007 29,523 99,101 
Total net sales$399,427 $68,535 $46,672 $514,634