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Revenue and Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Schedule of Disaggregation of Revenue | Disaggregation of revenue is presented in the tables below by product type and by geographical location. Management has determined that this level of disaggregation would be beneficial to users of the financial statements.
Revenue by Product Type
| Three Months Ended March 31, |  |
(in thousands) | 2025 |  | 2024 |  |  |  |
Net Sales |  |  |  |  |  |  |
Wholegoods | $ | 313,140 |  |  | $ | 343,579 |  |  |  |  |
Parts | 61,375 |  |  | 69,501 |  |  |  |  |
Other | 16,435 |  |  | 12,506 |  |  |  |  |
Consolidated | $ | 390,950 |  |  | $ | 425,586 |  |  |  |  |
Other includes rental sales, extended warranty sales and service sales as they are considered immaterial.
Revenue by Geographical Location
| Three Months Ended March 31, |  |
(in thousands) | 2025 |  | 2024 |  |  |  |
Net Sales |  |  |  |  |  |  |
United States | $ | 275,473 |  |  | $ | 293,802 |  |  |  |  |
Canada | 39,099 |  |  | 38,886 |  |  |  |  |
France | 21,748 |  |  | 26,172 |  |  |  |  |
United Kingdom | 21,475 |  |  | 24,211 |  |  |  |  |
Brazil | 9,380 |  |  | 12,204 |  |  |  |  |
Netherlands | 5,684 |  |  | 10,344 |  |  |  |  |
Australia | 5,675 |  |  | 4,504 |  |  |  |  |
Germany | 1,432 |  |  | 2,819 |  |  |  |  |
Other | 10,984 |  |  | 12,644 |  |  |  |  |
Consolidated | $ | 390,950 |  |  | $ | 425,586 |  |  |  |  |
Schedule of Unaudited Financial Information by Reporting Segment | The following includes a summary of the unaudited financial information by reporting segment at March 31, 2025:
| Vegetation |  | Industrial |  |
Three Months Ended March 31, 2025 (in thousands) | Division |  | Division |  | Consolidated
Net Sales | $ | 163,890 |  |  | $ | 227,060 |  |  | $ | 390,950 |
Less: |  |  |  |  |
Cost of Sales | (121,513) |  |  | (166,596) |  |  | (288,109) |
Operating Expenses | (29,065) |  |  | (29,314) |  |  | (58,379) |
Income from Operations | 13,312 |  |  | 31,150 |  |  | 44,462 |
Interest Income |  |  |  |  | 1,238 |
Other Income (Expense) |  |  |  |  | (663) |
Interest Expense |  |  |  |  | (3,194) |
Income Before Taxes |  |  |  |  | 41,843 |
Taxes |  |  |  |  | 10,043 |
Net Income |  |  |  |  | $ | 31,800 |
| Vegetation |  | Industrial |  |
Three Months Ended March 31, 2024 (in thousands) | Division |  | Division |  | Consolidated
Net Sales | $ | 223,747 |  |  | $ | 201,839 |  |  | $ | 425,586 |
Less: |  |  |  |  |
Cost of Sales | (164,545) |  |  | (149,409) |  |  | (313,954) |
Operating Expenses | (37,523) |  |  | (27,130) |  |  | (64,653) |
Income from Operations | 21,679 |  |  | 25,300 |  |  | 46,979 |
Interest Income |  |  |  |  | 801 |
Other Income (Expense) |  |  |  |  | 98 |
Interest Expense |  |  |  |  | (6,091) |
Income Before Taxes |  |  |  |  | 41,787 |
Taxes |  |  |  |  | 9,667 |
Net Income |  |  |  |  | $ | 32,120 |
Schedule of Goodwill and Total Identifiable Assets by Reporting Segment |
(in thousands) | March 31, 2025 |  | December 31, 2024
Goodwill |  |  |
Vegetation Management | $ | 127,873 |  |  | $ | 126,729 |
Industrial Equipment | 76,709 |  |  | 76,298 |
Consolidated | $ | 204,582 |  |  | $ | 203,027 |
Total Identifiable Assets |  |  |
Vegetation Management | $ | 905,674 |  |  | $ | 852,007 |
Industrial Equipment | 599,020 |  |  | 598,272 |
Consolidated | $ | 1,504,694 |  |  | $ | 1,450,279 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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