XML 30 R18.htm IDEA: XBRL DOCUMENT v3.26.1
Business Segment Information
 3 Months Ended
Apr. 04, 2026
Segment Reporting [Abstract]  
Business Segment Information Business Segment Information
The Company is a global supplier of technologies and engineered systems that drive Sustainable Industrial Processing and operates in three reportable segments consisting of its Flow Control segment, Industrial Processing segment, and Material Handling segment. The Company aggregates its operating segments into its reportable segments where they contain similar products and economic characteristics, and share similar types of customers, and production and distribution methods. The Flow Control segment is comprised of its fluid-handling and its doctoring, cleaning, & filtration operating segments, and the Industrial Processing segment is comprised of its wood processing and its fiber processing operating segments.
Each of the Company's reportable segments is led by a segment vice president, who reports directly to the Chief Executive Officer (CEO). The Company has determined that its CEO is its Chief Operating Decision Maker (CODM) who is responsible for assessing performance and allocating resources. The CODM utilizes segment gross profit margin and segment operating income margin to evaluate the performance of each segment and allocate resources effectively. The CODM primarily reviews these profit measures in comparison to forecasts, trends, key performance targets, and results of industry peers to assess profitability, identify areas for improvement, and make strategic decisions regarding investments and resource allocation within each segment.
A description of each reportable segment follows:
•Flow Control – Custom-engineered products, systems, and technologies that control the flow of fluids used in industrial and commercial applications to keep critical processes running efficiently in the packaging, paper and tissue, food, energy, defense, and numerous other industrial sectors. The Company's primary products include rotary sealing devices, steam systems, expansion joints, doctor systems, roll and fabric cleaning devices, and filtration and fiber recovery systems.
•Industrial Processing – Equipment, machinery, and technologies used to recycle paper and paperboard, process timber, and optimize industrial steam boiler efficiency in the packaging, paper, tissue, wood products and food processing industries, among others. The Company's primary products include fiber processing systems and recycling equipment, chemical pulping equipment, debarkers, stranders, chippers, custom-engineered knife systems, industrial boiler cleaning technologies, and continuous dewatering equipment.
•Material Handling – Products and engineered systems used to handle bulk and discrete materials for secondary processing or transport in the aggregates, mining, food, and waste management industries, among others. The Company's primary products include conveying and vibratory equipment and balers. In addition, the Company manufactures and sells biodegradable, absorbent granules used as carriers in agricultural, home lawn and garden, professional lawn, turf and ornamental applications, and for oil and grease absorption.
The following tables present financial information for the Company's reportable segments:
Three Months Ended April 4, 2026
(In thousands) Flow ControlIndustrial ProcessingMaterial HandlingTotal
Revenue$98,608 $123,038 $59,859 $281,505 
Cost of revenue
46,642 70,747 37,413 154,802 
Gross Profit51,966 52,291 22,446 126,703 
Gross Profit Margin52.7%42.5%37.5%45.0%
Operating Expenses:
Selling expenses15,190 13,877 7,092 36,159 
General and administrative expenses10,008 11,826 4,765 26,599 
Research and development expenses
1,395 2,084 577 4,056 
Intangible asset amortization expense1,270 4,427 2,688 8,385 
Other segment items(101)164 (142)(79)
Segment Operating Income
$24,204 $19,913 $7,466 $51,583 
Segment Operating Income Margin
24.5%16.2%12.5% 
Corporate Expenses (a)(11,474)
Interest Expense, Net (b)(4,133)
Other Expense, Net (b)(13)
Income Before Provision for Income Taxes
$35,963 
(In thousands) Flow ControlIndustrial ProcessingMaterial HandlingCorporateTotal
Other Segment Disclosures
Depreciation expense (c)$1,927 $3,110 $1,212 $13 $6,262 
Capital expenditures$1,022 $863 $1,236 $137 $3,258 


Three Months Ended March 29, 2025
(In thousands)Flow ControlIndustrial ProcessingMaterial HandlingTotal
Revenue$92,441 $89,524 $57,245 $239,210 
Cost of revenue
43,168 50,076 35,636 128,880 
Gross Profit49,273 39,448 21,609 110,330 
Gross Profit Margin53.3%44.1% 37.7%46.1%
Operating Expenses:
Selling expenses14,779 10,177 6,468 31,424 
General and administrative expenses8,813 8,387 4,241 21,441 
Research and development expenses
1,351 1,606 566 3,523 
Intangible asset amortization expense1,493 2,378 2,828 6,699 
Other segment items85 68 (29)124 
Segment Operating Income
$22,752 $16,832 $7,535 $47,119 
Segment Operating Income Margin
24.6%18.8%13.2% 
Corporate Expenses (a)(11,533)
Interest Expense, Net (b)(3,305)
Other Expense, Net (b)(16)
Income Before Provision for Income Taxes
$32,265 
Three Months Ended March 29, 2025 (continued)
(In thousands)Flow ControlIndustrial ProcessingMaterial HandlingCorporateTotal
Other Segment Disclosures
Depreciation expense (c)$1,798 $2,347 $1,158 $11 $5,314 
Capital expenditures$1,509 $1,325 $999 $3 $3,836 

April 4,
2026		January 3,
2026
(In thousands)
Total Assets (d)
Flow Control$459,804 $450,911 
Industrial Processing
824,425 826,062 
Material Handling
410,957 411,813 
Corporate (e)19,466 23,392 
$1,714,652 $1,712,178 
(a)Primarily consists of general and administrative expenses.
(b)The Company does not allocate interest expense, net and other expense, net to its segments.
(c)Depreciation expense by reportable segment is included within cost of revenue and selling, general and administrative, and research and development expenses.
(d)Excludes intercompany receivables or payables and investment in subsidiary balances as the CODM uses total assets excluding these amounts as the measurement for the Company's segment assets.
(e)Corporate assets primarily consist of cash and cash equivalents, tax assets, right-of-use assets, and property, plant, and equipment, net.