XML 36 R19.htm IDEA: XBRL DOCUMENT v3.26.1
Segment Information
 3 Months Ended
Mar. 31, 2026
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: roofing accessories, metal roofing products and services, rain dispersion products, roof and foundation ventilation products, single point and centralized mail and package solutions, outdoor living space products (sun-shading), and other construction accessories.
•Agtech consists of operating segments that sell the following products and services to large-scale indoor commercial growers of fruits and vegetables, plants and flowers, and agricultural research and development facilities, as well as convenience store, travel centers, food retailers, and quick-serve restaurants: design, manufacture and build controlled environment agriculture structures, 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, 2025. The following tables illustrate certain measurements used by management to assess the performance of the segments described above (in thousands):
Three Months Ended March 31, 2026
ResidentialAgtechInfrastructureTotal
Net sales$281,435 $55,630 $19,222 $356,287 
Less (1):
Operating expenses (2)261,189 52,303 15,505 328,997 
Segment profit20,246 3,327 3,717 27,290 
Reconciliation of segment profit
Unallocated corporate expenses(31,746)
Interest expense, net(13,024)
Other income, net814 
Loss before taxes from continuing operations$(16,666)
Three Months Ended March 31, 2025
ResidentialAgtechInfrastructureTotal
Net sales$179,994 $45,040 $21,323 $246,357 
Less (1):
Operating expenses (2)148,734 41,655 16,065 206,454 
Segment profit31,260 3,385 5,258 39,903 
Reconciliation of segment profit
Unallocated corporate expenses(11,248)
Interest income, net1,637 
Other expense, net(76)
Income before taxes from continuing operations$30,216 
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 presents the reported segments' and unallocated corporate reported depreciation and amortization (in thousands):
Three Months Ended
March 31,
20262025
Residential$12,129 $2,527 
Agtech2,088 2,760 
Infrastructure713 701 
Unallocated corporate expenses973 818 
Total depreciation and amortization$15,903 $6,806 
The following table presents the assets of the reported segments, unallocated corporate assets and assets of discontinued operations as of (in thousands):
March 31,
2026		December 31,
2025
Residential$2,234,221 $639,397 
Agtech297,733 290,785 
Infrastructure80,552 78,266 
Unallocated corporate assets85,706 192,793 
Assets of discontinued operations89,283 192,362 
Total assets$2,787,495 $1,393,603 
The following presents disaggregated revenue by timing of transfer of control to customers by reported segment (in thousands):
Three Months Ended March 31, 2026
ResidentialAgtechInfrastructureTotal
Point in Time$281,435 $368 $7,088 $288,891 
Over Time— 55,262 12,134 67,396 
Total net sales$281,435 $55,630 $19,222 $356,287 
Three Months Ended March 31, 2025
ResidentialAgtechInfrastructureTotal
Point in Time$179,994 $276 $7,880 $188,150 
Over Time— 44,764 13,443 58,207 
Total net sales$179,994 $45,040 $21,323 $246,357