XML 32 R20.htm IDEA: XBRL DOCUMENT v3.24.3
Segment Information
9 Months Ended
Sep. 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
September 30,
Nine Months Ended
September 30,
2024202320242023
Net sales:
Residential$212,363 $227,747 $611,790 $635,476 
Renewables84,064 106,362 214,941 243,026 
Agtech41,527 31,666 110,062 102,546 
Infrastructure 23,242 24,969 69,914 67,877 
Total net sales$361,196 $390,744 $1,006,707 $1,048,925 
Income from operations:
Residential$42,055 $42,158 $119,714 $115,626 
Renewables825 12,907 4,116 21,084 
Agtech3,853 2,136 8,743 3,349 
Infrastructure6,494 6,386 17,605 14,928 
Unallocated corporate expenses(9,229)(10,397)(31,975)(29,350)
Total income from operations$43,998 $53,190 $118,203 $125,637 
The following table illustrates the total assets of the Company's reportable segments and unallocated corporate assets as of (in thousands):
September 30,
2024
December 31,
2023
Residential$531,021 $515,739 
Renewables400,996 377,694 
Agtech168,645 168,213 
Infrastructure83,783 77,518 
Unallocated corporate assets240,145 117,287 
Total assets$1,424,590 $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 September 30, 2024
ResidentialRenewablesAgtechInfrastructureTotal
Point in Time$210,530 $8,220 $135 $10,657 $229,542 
Over Time1,833 75,844 41,392 12,585 131,654 
Total net sales$212,363 $84,064 $41,527 $23,242 $361,196 
Three Months Ended September 30, 2023
ResidentialRenewablesAgtechInfrastructureTotal
Point in Time$225,985 $15,903 $777 $9,922 $252,587 
Over Time1,762 90,459 30,889 15,047 138,157 
Total net sales$227,747 $106,362 $31,666 $24,969 $390,744 
Nine Months Ended September 30, 2024
ResidentialRenewablesAgtechInfrastructureTotal
Point in Time$606,386 $23,235 $2,663 $27,806 $660,090 
Over Time5,404 191,706 107,399 42,108 346,617 
Total net sales$611,790 $214,941 $110,062 $69,914 $1,006,707 
Nine Months Ended September 30, 2023
ResidentialRenewablesAgtechInfrastructureTotal
Point in Time$630,545 $35,630 $5,580 $24,831 $696,586 
Over Time4,931 207,396 96,966 43,046 352,339 
Total net sales$635,476 $243,026 $102,546 $67,877 $1,048,925