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v3.25.2

Segments (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Schedule of Company's Operations by Segment, Including Revenue by Major Market | An analysis of the Company's operations by segment, including revenue by major market is as follows:
| For the Quarter Ended June 30, 2025 |
| Material Handling |  |  | Distribution |  |  | Corporate |  |  | Inter-company |  |  | Consolidated |
Industrial | $ | 64,092 |  |  | $ | — |  |  | $ | — |  |  | $ | (33 | ) |  | $ | 64,059 |
Infrastructure |  | 29,328 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 29,328 |
Vehicle |  | 24,727 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 24,727 |
Consumer |  | 26,121 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 26,121 |
Food and beverage |  | 14,359 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 14,359 |
Auto aftermarket |  | — |  |  |  | 50,989 |  |  |  | — |  |  |  | — |  |  |  | 50,989 |
Net sales |  | 158,627 |  |  |  | 50,989 |  |  |  | — |  |  |  | (33 | ) |  |  | 209,583 |
Cost of sales |  | 102,897 |  |  |  | 36,057 |  |  |  | — |  |  |  | (33 | ) |  |  | 138,921 |
Selling, general and administrative expenses (3) (4) |  | 20,100 |  |  |  | 14,542 |  |  |  | 8,728 |  |  |  | — |  |  |  | 43,370 |
Depreciation and amortization |  | 3,506 |  |  |  | 715 |  |  |  | 228 |  |  |  | — |  |  |  | 4,449 |
Freight out |  | 2,546 |  |  |  | 247 |  |  |  | — |  |  |  | — |  |  |  | 2,793 |
(Gain) loss on disposal of fixed assets |  | 106 |  |  |  | (35 | ) |  |  | — |  |  |  | — |  |  |  | 71 |
Operating income (loss) (2) |  | 29,472 |  |  |  | (537 | ) |  |  | (8,956 | ) |  |  | — |  |  |  | 19,979 |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,364 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  | $ | 12,615 |
Total assets |  | 706,230 |  |  |  | 96,802 |  |  |  | 59,682 |  |  |  | — |  |  |  | 862,714 |
Capital additions, net |  | 3,206 |  |  |  | 267 |  |  |  | 134 |  |  |  | — |  |  |  | 3,607 |
Depreciation and amortization (7) |  | 9,029 |  |  |  | 812 |  |  |  | 768 |  |  |  | — |  |  |  | 10,609 |
| For the Quarter Ended June 30, 2024 |
| Material Handling |  |  | Distribution |  |  | Corporate |  |  | Inter-company |  |  | Consolidated |
Industrial | $ | 61,141 |  |  | $ | — |  |  | $ | — |  |  | $ | (37 | ) |  | $ | 61,104 |
Infrastructure |  | 31,728 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 31,728 |
Vehicle |  | 29,372 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 29,372 |
Consumer |  | 27,565 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 27,565 |
Food and beverage |  | 16,202 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 16,202 |
Auto aftermarket |  | — |  |  |  | 54,265 |  |  |  | — |  |  |  | — |  |  |  | 54,265 |
Net sales |  | 166,008 |  |  |  | 54,265 |  |  |  | — |  |  |  | (37 | ) |  |  | 220,236 |
Cost of sales (5) |  | 108,171 |  |  |  | 36,585 |  |  |  | — |  |  |  | (37 | ) |  |  | 144,719 |
Selling, general and administrative expenses (1) (6) |  | 22,777 |  |  |  | 14,434 |  |  |  | 6,937 |  |  |  | — |  |  |  | 44,148 |
Depreciation and amortization |  | 3,861 |  |  |  | 752 |  |  |  | 213 |  |  |  | — |  |  |  | 4,826 |
Freight out |  | 2,456 |  |  |  | 231 |  |  |  | — |  |  |  | — |  |  |  | 2,687 |
(Gain) loss on disposal of fixed assets |  | 42 |  |  |  | 84 |  |  |  | 2 |  |  |  | — |  |  |  | 128 |
Operating income (loss) (2) |  | 28,701 |  |  |  | 2,179 |  |  |  | (7,152 | ) |  |  | — |  |  |  | 23,728 |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  | 9,006 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  | $ | 14,722 |
Total assets |  | 783,705 |  |  |  | 108,790 |  |  |  | 59,138 |  |  |  | — |  |  |  | 951,633 |
Capital additions, net |  | 3,465 |  |  |  | 682 |  |  |  | 270 |  |  |  | — |  |  |  | 4,417 |
Depreciation and amortization (7) |  | 9,023 |  |  |  | 830 |  |  |  | 758 |  |  |  | — |  |  |  | 10,611 |
| For the Six Months Ended June 30, 2025 |
| Material Handling |  |  | Distribution |  |  | Corporate |  |  | Inter-company |  |  | Consolidated |
Industrial | $ | 125,763 |  |  | $ | — |  |  | $ | — |  |  | $ | (201 | ) |  | $ | 125,562 |
Infrastructure |  | 57,033 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 57,033 |
Vehicle |  | 51,070 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 51,070 |
Consumer |  | 46,944 |  |  |  | — |  |  |  | — |  |  |  | - |  |  |  | 46,944 |
Food and beverage |  | 35,489 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 35,489 |
Auto aftermarket |  | — |  |  |  | 100,235 |  |  |  | — |  |  |  | — |  |  |  | 100,235 |
Net sales |  | 316,299 |  |  |  | 100,235 |  |  |  | — |  |  |  | (201 | ) |  |  | 416,333 |
Cost of sales |  | 205,653 |  |  |  | 71,141 |  |  |  | — |  |  |  | (201 | ) |  |  | 276,593 |
Selling, general and administrative expenses (3) (4) |  | 41,567 |  |  |  | 28,506 |  |  |  | 18,052 |  |  |  | — |  |  |  | 88,125 |
Depreciation and amortization |  | 7,011 |  |  |  | 1,442 |  |  |  | 454 |  |  |  | — |  |  |  | 8,907 |
Freight out |  | 5,129 |  |  |  | 476 |  |  |  | — |  |  |  | — |  |  |  | 5,605 |
(Gain) loss on disposal of fixed assets |  | 86 |  |  |  | 388 |  |  |  | — |  |  |  | — |  |  |  | 474 |
Operating income (loss) (2) |  | 56,853 |  |  |  | (1,718 | ) |  |  | (18,506 | ) |  |  | — |  |  |  | 36,629 |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  | 14,750 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  | $ | 21,879 |
Total assets |  | 706,230 |  |  |  | 96,802 |  |  |  | 59,682 |  |  |  | — |  |  |  | 862,714 |
Capital additions, net |  | 11,159 |  |  |  | 372 |  |  |  | 159 |  |  |  | — |  |  |  | 11,690 |
Depreciation and amortization (7) |  | 17,875 |  |  |  | 1,636 |  |  |  | 1,533 |  |  |  | — |  |  |  | 21,044 |
| For the Six Months Ended June 30, 2024 |
| Material Handling |  |  | Distribution |  |  | Corporate |  |  | Inter-company |  |  | Consolidated |
Industrial | $ | 114,755 |  |  | $ | — |  |  | $ | — |  |  | $ | (54 | ) |  | $ | 114,701 |
Infrastructure |  | 51,055 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 51,055 |
Vehicle |  | 58,782 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 58,782 |
Consumer |  | 49,866 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 49,866 |
Food and beverage |  | 43,775 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 43,775 |
Auto aftermarket |  | — |  |  |  | 109,159 |  |  |  | — |  |  |  | — |  |  |  | 109,159 |
Net sales |  | 318,233 |  |  |  | 109,159 |  |  |  | — |  |  |  | (54 | ) |  |  | 427,338 |
Cost of sales (5) |  | 213,317 |  |  |  | 74,289 |  |  |  | — |  |  |  | (54 | ) |  |  | 287,552 |
Selling, general and administrative expenses (1) (6) |  | 42,418 |  |  |  | 30,123 |  |  |  | 18,720 |  |  |  | — |  |  |  | 91,261 |
Depreciation and amortization |  | 6,874 |  |  |  | 1,461 |  |  |  | 412 |  |  |  | — |  |  |  | 8,747 |
Freight out |  | 4,661 |  |  |  | 449 |  |  |  | — |  |  |  | — |  |  |  | 5,110 |
(Gain) loss on disposal of fixed assets |  | 6 |  |  |  | 53 |  |  |  | 2 |  |  |  | — |  |  |  | 61 |
Operating income (loss) (2) |  | 50,957 |  |  |  | 2,784 |  |  |  | (19,134 | ) |  |  | — |  |  |  | 34,607 |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  | 15,085 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  | $ | 19,522 |
Total assets |  | 783,705 |  |  |  | 108,790 |  |  |  | 59,138 |  |  |  | — |  |  |  | 951,633 |
Capital additions, net |  | 8,671 |  |  |  | 1,062 |  |  |  | 391 |  |  |  | — |  |  |  | 10,124 |
Depreciation and amortization (7) |  | 16,548 |  |  |  | 1,603 |  |  |  | 1,188 |  |  |  | — |  |  |  | 19,339 |
(1) The Company recognized $0.1 million and $(0.2) million of expense (income) to the estimated environmental reserve, net of probable insurance recoveries for the quarter and six months ended June 30, 2024, respectively, as described in Note 10. Environmental charges are not included in segment results and are shown with Corporate. (2) The Company incurred $4.4 million and $6.4 million of restructuring costs associated with the restructuring initiatives described in Note 4, for the quarter and six months ended June 30, 2025, of which $1.1 million and $1.2 million are included in Material Handling, $2.2 million and $3.0 million are included in Distribution and $1.2 million and $2.3 million are included with Corporate's results, respectively. The Company incurred $3.0 million and $3.2 million of restructuring costs associated with the restructuring initiatives described in Note 4, for the quarter and six months ended June 30, 2024, of which $2.2 million and $2.5 million are included in Material Handling and $0.8 million and $0.8 million are included in Distribution's results, respectively. (3) During the quarter and six months ended June 30, 2025, the Company recognized a $1.6 million pre-tax pension settlement charge within the Material Handling segment, as described in Note 1. (4) The Company recognized a $3.2 million recovery of purchased credit deteriorated assets for the quarter and six months ended June 30, 2025, as described in Note 3. The recovery was recognized as a reduction to bad debt expense included in Selling, general and administrative within the Material Handling Segment. (5) The Company recognized $1.3 million and $4.5 million of non-cash inventory step-up that was amortized to Cost of sales for the quarter and six months ended June 30, 2024, related to the reporting of inventory at fair value in conjunction with the acquisition of Signature, described in Note 3. (6) The Company incurred $0.7 million and $4.1 million of acquisition related costs associated with the Signature acquisition, as described in Note 3, for the quarter and six months ended June 30, 2024, of which $0.5 million and $3.8 million are included in Corporate and $0.2 million and $0.3 million are included in Material Handling's results, respectively. (7) Total depreciation and amortization inclusive of amounts within Cost of sales. Corporate depreciation and amortization includes amortization of deferred financing costs of $0.5 million and $0.5 million for the quarters ended June 30, 2025 and 2024, respectively, and $1.1 million and $0.8 million for the six months ended June 30, 2025 and 2024, respectively.

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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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