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Segments and Related Information (Tables)

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Financial information by operating segment as of and for the three and six months ended June 30, 2025 and 2024 is summarized in the following tables (in thousands).

			Three Months Ended June 30, 2025
			Offshore Manufactured Products(1)						Completion and Production Services(2)						Downhole Technologies(3)						Corporate						Total
Revenues			$	106,586					$	29,424					$	29,396					$	—					$	165,406
Costs and expenses:
Cost of revenues (exclusive of depreciation and amortization expense presented below)			75,304						23,593						26,443						—						125,340
Selling, general and administrative expense			9,475						2,017						1,999						9,490						22,981
Depreciation and amortization expense			3,703						4,083						4,005						107						11,898
Impairments of operating lease assets			—						403						955						—						1,358
Other operating (income) loss, net			1,115						(2,549)						(14)						—						(1,448)
			89,597						27,547						33,388						9,597						160,129
Operating income (loss)			$	16,989					$	1,877					$	(3,992)					$	(9,597)					$	5,277
Capital expenditures			$	8,003					$	1,825					$	428					$	66					$	10,322

________________

(1)Operating income included charges of $0.3 million primarily associated with the consolidation and relocation of certain manufacturing and service locations.

(2)Operating income included $2.2 million of facility exit and other charges.

(3)Operating loss included $1.2 million in costs associated primarily with the exit of a leased facility.

			Six Months Ended June 30, 2025
			Offshore Manufactured Products(1)						Completion and Production Services(2)						Downhole Technologies(3)						Corporate						Total
Revenues			$	199,182					$	63,943					$	62,219					$	—					$	325,344
Costs and expenses:
Cost of revenues (exclusive of depreciation and amortization expense presented below)			142,219						50,498						55,300						—						248,017
Selling, general and administrative expense			18,110						4,013						3,998						19,390						45,511
Depreciation and amortization expense			7,311						8,355						8,034						223						23,923
Impairments of operating lease assets			—						403						955						—						1,358
Other operating (income) loss, net			277						(4,706)						48						—						(4,381)
			167,917						58,563						68,335						19,613						314,428
Operating income (loss)			$	31,265					$	5,380					$	(6,116)					$	(19,613)					$	10,916
Capital expenditures			$	12,826					$	5,350					$	1,219					$	85					$	19,480
Total assets (as of June 30, 2025)			$	532,179					$	134,031					$	262,758					$	64,777					$	993,745

________________

(1)Operating income included charges of $0.3 million primarily associated with the consolidation and relocation of certain manufacturing and service locations.

(2)Operating income included $3.1 million of facility exit and other charges.

(3)Operating loss included $1.2 million in costs associated primarily with the exit of a leased facility.

			Three Months Ended June 30, 2024
			Offshore Manufactured Products(1)						Completion and Production Services(2)						Downhole Technologies						Corporate						Total
Revenues			$	101,556					$	46,421					$	38,406					$	—					$	186,383
Costs and expenses:
Cost of revenues (exclusive of depreciation and amortization expense presented below)			71,236						37,895						32,902						—						142,033
Selling, general and administrative expense			10,400						3,083						2,403						10,487						26,373
Depreciation and amortization expense			4,247						6,047						4,255						149						14,698
Impairment of goodwill			—						—						—						—						—
Other operating (income) loss, net			1,316						(69)						(13)						—						1,234
			87,199						46,956						39,547						10,636						184,338
Operating income (loss)			$	14,357					$	(535)					$	(1,141)					$	(10,636)					$	2,045
Capital expenditures			$	1,552					$	3,918					$	310					$	9					$	5,789

________________

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

(2)Operating loss included $2.9 million of facility consolidation and other charges.

			Six Months Ended June 30, 2024
			Offshore Manufactured Products(1)						Completion and Production Services(2)						Downhole Technologies(3)						Corporate						Total
Revenues			$	188,413					$	93,713					$	71,519					$	—					$	353,645
Costs and expenses:
Cost of revenues (exclusive of depreciation and amortization expense presented below)			134,737						77,709						61,538						—						273,984
Selling, general and administrative expense			18,958						5,609						4,686						19,616						48,869
Depreciation and amortization expense			7,940						12,126						8,525						302						28,893
Impairment of goodwill			—						—						10,000						—						10,000
Other operating (income) loss, net			1,818						(777)						(10)						—						1,031
			163,453						94,667						84,739						19,918						362,777
Operating income (loss)			$	24,960					$	(954)					$	(13,220)					$	(19,918)					$	(9,132)
Capital expenditures			$	8,773					$	6,332					$	756					$	20					$	15,881
Total assets (as of June 30, 2024)			$	502,582					$	177,098					$	279,947					$	41,551					$	1,001,178

________________

(1)Operating income included $3.0 million of facility consolidation charges.

(2)Operating loss included $3.9 million in facility consolidation and other charges.

(3)Operating loss included a $10.0 million non-cash goodwill impairment charge.

Schedule of Supplemental Revenue Information by Segments

The following tables provide supplemental disaggregated revenue from contracts with customers by operating segment for the three and six months ended June 30, 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 June 30
Project-driven:
Products			$	68,653					$	59,752					$	—					$	—					$	—					$	—					$	68,653					$	59,752
Services			27,907						31,024						—						—						—						—						27,907						31,024
Total project-driven			96,560						90,776						—						—						—						—						96,560						90,776
Military and other products			10,026						10,780						—						—						—						—						10,026						10,780
Short-cycle products and services			—						—						29,424						46,421						29,396						38,406						58,820						84,827
			$	106,586					$	101,556					$	29,424					$	46,421					$	29,396					$	38,406					$	165,406					$	186,383

			Offshore Manufactured Products												Completion and Production Services												Downhole Technologies												Total
			2025						2024						2025						2024						2025						2024						2025						2024
Six Months Ended June 30
Project-driven:
Products			$	127,777					$	112,889					$	—					$	—					$	—					$	—					$	127,777					$	112,889
Services			52,331						56,257						—						—						—						—						52,331						56,257
Total project-driven			180,108						169,146						—						—						—						—						180,108						169,146
Military and other products			19,074						19,267						—						—						—						—						19,074						19,267
Short-cycle products and services			—						—						63,943						93,713						62,219						71,519						126,162						165,232
			$	199,182					$	188,413					$	63,943					$	93,713					$	62,219					$	71,519					$	325,344					$	353,645

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- 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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+ 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

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-Name Accounting Standards Codification
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-Paragraph 30
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