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Industry Segments (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of Segment Information

The following table summarizes certain information regarding segments of the Company's operations:

(in thousands)			2022						2021
Net sales
Tubular Products			$	306,605					$	267,238
Specialty Chemicals			107,542						67,477
			$	414,147					$	334,715
Operating income
Tubular Products			$	27,607					$	33,561
Specialty Chemicals			6,971						3,656
			34,578						37,217
Corporate
Unallocated corporate expenses			(12,997)						(6,828)
Acquisition costs and other			(1,200)						(1,001)
Proxy contest costs and recoveries			—						(168)
Earn-out adjustments			7						(1,872)
Total Corporate			(14,190)						(9,869)
Operating income			20,388						27,348
Interest expense			2,742						1,486
Change in fair value of interest rate swap			—						(2)
Loss on extinguishment of debt			—						223
Other income, net			(209)						143
Income before income taxes			$	17,855					$	25,498
Identifiable assets
Tubular Products			$	158,664					$	160,625
Specialty Chemicals			72,990						72,908
Corporate			37,389						32,469
			$	269,043					$	266,002
Depreciation and amortization
Tubular Products			$	7,906					$	8,206
Specialty Chemicals			4,749						2,005
Corporate			62						130
			$	12,717					$	10,341
Capital expenditures
Tubular Products			$	3,756					$	1,011
Specialty Chemicals			1,140						486
Corporate			178						—
			$	5,074					$	1,497
Sales by product group
Fiberglass and steel liquid storage tanks and separation equipment			$	411					$	1,343
Heavy wall seamless carbon steel pipe and tube			48,227						40,539
Stainless steel pipe and tube			222,892						186,651
Galvanized pipe and tube			35,075						38,705
Specialty chemicals			107,542						67,477
			$	414,147					$	334,715
Geographic sales
United States			$	403,956					$	325,335
Elsewhere			10,191						9,380
			$	414,147					$	334,715

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

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- References

No definition available.

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