XML 41 R28.htm IDEA: XBRL DOCUMENT v3.25.3

Segments and Related Information (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

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

			Three Months Ended September 30, 2025
			Offshore Manufactured Products(1)						Completion and Production Services(2)						Downhole Technologies						Corporate(3)						Total
Revenues			$	108,627					$	27,525					$	29,028					$	—					$	165,180
Costs and expenses:
Cost of revenues (exclusive of depreciation and amortization expense presented below)			78,234						22,411						28,001						—						128,646
Selling, general and administrative expense			8,485						1,422						1,816						9,033						20,756
Depreciation and amortization expense			3,958						4,089						3,978						103						12,128
Impairments of operating lease assets			—						—						—						—						—
Other operating (income) loss, net			347						(1,345)						(100)						—						(1,098)
			91,024						26,577						33,695						9,136						160,432
Operating income (loss)			$	17,603					$	948					$	(4,667)					$	(9,136)					$	4,748
Capital expenditures			$	4,615					$	3,763					$	180					$	148					$	8,706

________________

(1)Operating income included charges of $0.6 million primarily associated with the consolidation and relocation of certain manufacturing and service locations.

(2)Operating income included $2.7 million of facility exit and other charges.

(3)Operating loss included $0.3 million of severance charges.

			Nine Months Ended September 30, 2025
			Offshore Manufactured Products(1)						Completion and Production Services(2)						Downhole Technologies(3)						Corporate(4)						Total
Revenues			$	307,809					$	91,468					$	91,247					$	—					$	490,524
Costs and expenses:
Cost of revenues (exclusive of depreciation and amortization expense presented below)			220,453						72,909						83,301						—						376,663
Selling, general and administrative expense			26,595						5,435						5,814						28,423						66,267
Depreciation and amortization expense			11,269						12,444						12,012						326						36,051
Impairments of operating lease assets			—						403						955						—						1,358
Other operating (income) loss, net			624						(6,051)						(52)						—						(5,479)
			258,941						85,140						102,030						28,749						474,860
Operating income (loss)			$	48,868					$	6,328					$	(10,783)					$	(28,749)					$	15,664
Capital expenditures			$	17,441					$	9,113					$	1,399					$	233					$	28,186
Total assets (as of September 30, 2025)			$	555,097					$	133,271					$	258,384					$	65,567					$	1,012,319

________________

(1)Operating income included charges of $0.8 million primarily associated with the consolidation and relocation of certain manufacturing and service locations.

(2)Operating income included $5.8 million in asset impairment, facility exit and other charges.

(3)Operating loss included $1.2 million in asset impairment and other charges.

(4)Operating loss included $0.3 million of severance charges.

			Three Months Ended September 30, 2024
			Offshore Manufactured Products(1)						Completion and Production Services(2)						Downhole Technologies(3)						Corporate						Total
Revenues			$	102,234					$	40,099					$	32,015					$	—					$	174,348
Costs and expenses:
Cost of revenues (exclusive of depreciation and amortization expense presented below)			71,494						36,546						28,549						—						136,589
Selling, general and administrative expense			8,497						3,401						2,559						8,297						22,754
Depreciation and amortization expense			3,631						5,749						4,121						134						13,635
Impairment of goodwill			—						—						—						—						—
Impairments of intangible assets			—						10,787						—						—						10,787
Impairments of operating lease assets			—						2,092						487						—						2,579
Other operating (income) loss, net			(698)						(209)						(48)						—						(955)
			82,924						58,366						35,668						8,431						185,389
Operating income (loss)			$	19,310					$	(18,267)					$	(3,653)					$	(8,431)					$	(11,041)
Capital expenditures			$	3,074					$	4,084					$	270					$	—					$	7,428

________________

(1)Operating income included $0.4 million of facility consolidation and other charges.

(2)Operating loss included $17.2 million of asset impairment, facility consolidation and exit, patent defense and other charges.

(3)Operating loss included $0.6 million of asset impairment and other charges.

			Nine Months Ended September 30, 2024
			Offshore Manufactured Products(1)						Completion and Production Services(2)						Downhole Technologies(3)						Corporate						Total
Revenues			$	290,647					$	133,812					$	103,534					$	—					$	527,993
Costs and expenses:
Cost of revenues (exclusive of depreciation and amortization expense presented below)			206,231						114,255						90,087						—						410,573
Selling, general and administrative expense			27,455						9,010						7,245						27,913						71,623
Depreciation and amortization expense			11,571						17,875						12,646						436						42,528
Impairment of goodwill			—						—						10,000						—						10,000
Impairments of intangible assets			—						10,787						—						—						10,787
Impairments of operating lease assets			—						2,092						487						—						2,579
Other operating (income) loss, net			1,120						(986)						(58)						—						76
			246,377						153,033						120,407						28,349						548,166
Operating income (loss)			$	44,270					$	(19,221)					$	(16,873)					$	(28,349)					$	(20,173)
Capital expenditures			$	11,847					$	10,416					$	1,026					$	20					$	23,309
Total assets (as of September 30, 2024)			$	506,563					$	158,338					$	273,093					$	56,147					$	994,141

________________

(1)Operating income included $3.4 million of facility consolidation and other charges.

(2)Operating loss included $21.1 million of asset impairment, facility consolidation and exit, patent defense and other charges.

(3)Operating loss included $10.6 million in asset impairment and other charges.

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 nine months ended September 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 September 30
Project-driven:
Products			$	67,729					$	58,164					$	—					$	—					$	—					$	—					$	67,729					$	58,164
Services			30,172						32,754						—						—						—						—						30,172						32,754
Total project-driven			97,901						90,918						—						—						—						—						97,901						90,918
Military and other products			10,726						11,316						—						—						—						—						10,726						11,316
Short-cycle products and services			—						—						27,525						40,099						29,028						32,015						56,553						72,114
			$	108,627					$	102,234					$	27,525					$	40,099					$	29,028					$	32,015					$	165,180					$	174,348

			Offshore Manufactured Products												Completion and Production Services												Downhole Technologies												Total
			2025						2024						2025						2024						2025						2024						2025						2024
Nine Months Ended September 30
Project-driven:
Products			$	195,506					$	171,053					$	—					$	—					$	—					$	—					$	195,506					$	171,053
Services			82,503						89,011						—						—						—						—						82,503						89,011
Total project-driven			278,009						260,064						—						—						—						—						278,009						260,064
Military and other products			29,800						30,583						—						—						—						—						29,800						30,583
Short-cycle products and services			—						—						91,468						133,812						91,247						103,534						182,715						237,346
			$	307,809					$	290,647					$	91,468					$	133,812					$	91,247					$	103,534					$	490,524					$	527,993

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

+ Details

Name:	us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration