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Segments and Related Information (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Financial information by operating segment for the three months ended March 31, 2025 and 2024 is summarized in the following tables (in thousands).

			Three Months Ended March 31, 2025
			Offshore Manufactured Products						Completion and Production Services(1)						Downhole Technologies						Corporate						Total
Revenues			$	92,596					$	34,519					$	32,823					$	—					$	159,938
Costs and expenses:
Cost of revenues (exclusive of depreciation and amortization expense presented below)			66,915						26,905						28,857						—						122,677
Selling, general and administrative expense			8,635						1,996						1,999						9,900						22,530
Depreciation and amortization expense			3,608						4,272						4,029						116						12,025
Other operating (income) loss, net			(838)						(2,157)						62						—						(2,933)
			78,320						31,016						34,947						10,016						154,299
Operating income (loss)			$	14,276					$	3,503					$	(2,124)					$	(10,016)					$	5,639
Capital expenditures			$	4,823					$	3,525					$	791					$	19					$	9,158
Total assets (as of March 31, 2025)			506,530						147,665						268,139						68,401						990,735

________________

(1)Operating income included $0.9 million of facility consolidation charges.

			Three Months Ended March 31, 2024
			Offshore Manufactured Products(1)						Completion and Production Services(2)						Downhole Technologies(3)						Corporate						Total
Revenues			$	86,857					$	47,292					$	33,113					$	—					$	167,262
Costs and expenses:
Cost of revenues (exclusive of depreciation and amortization expense presented below)			63,501						39,814						28,636						—						131,951
Selling, general and administrative expense			8,558						2,526						2,283						9,129						22,496
Depreciation and amortization expense			3,693						6,079						4,270						153						14,195
Impairment of goodwill			—						—						10,000						—						10,000
Other operating (income) loss, net			502						(708)						3						—						(203)
			76,254						47,711						45,192						9,282						178,439
Operating income (loss)			$	10,603					$	(419)					$	(12,079)					$	(9,282)					$	(11,177)
Capital expenditures			$	7,221					$	2,414					$	446					$	11					$	10,092
Total assets (as of March 31, 2024)			516,039						179,763						278,055						41,958						1,015,815

________________

(1)Operating income included $1.5 million of facility consolidation charges.

(2)Operating loss included $1.0 million in facility consolidation and other charges.

(3)Operating loss included a $10.0 million non-cash goodwill impairment charge (see Note 2, “Asset Impairments and Other Charges”).

Schedule of Supplemental Revenue Information by Segments

The following table provides supplemental disaggregated revenue from contracts with customers by operating segment for the three months ended March 31, 2025 and 2024 (in thousands).

			Offshore Manufactured Products												Completion and Production Services												Downhole Technologies												Total
			2025						2024						2025						2024						2025						2024						2025						2024
Three Months Ended March 31
Project-driven:
Products			$	59,124					$	53,137					$	—					$	—					$	—					$	—					$	59,124					$	53,137
Services			24,424						25,233						—						—						—						—						24,424						25,233
Total project-driven			83,548						78,370						—						—						—						—						83,548						78,370
Military and other products			9,048						8,487						—						—						—						—						9,048						8,487
Short-cycle products and services			—						—						34,519						47,292						32,823						33,113						67,342						80,405
			$	92,596					$	86,857					$	34,519					$	47,292					$	32,823					$	33,113					$	159,938					$	167,262

X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

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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

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-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

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