Quarterly report [Sections 13 or 15(d)]

Note 15 - Segments (Tables)

v3.25.2
Note 15 - Segments (Tables)
6 Months Ended
Jun. 30, 2025
Notes Tables  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
   

Three Months Ended

   

Three Months Ended

   

Six Months Ended

   

Six Months Ended

 
   

June 30,

   

June 30,

   

June 30,

   

June 30,

 
   

2025

   

2024

   

2025

   

2024

 

Net sales

                               

Work Truck Attachments

  $ 108,114     $ 118,137     $ 144,571     $ 141,977  

Work Truck Solutions

    86,213       81,765       164,823       153,580  
    $ 194,327     $ 199,902     $ 309,394     $ 295,557  

Selling, general and administrative expense

                               

Work Truck Attachments

  $ 11,412     $ 13,529     $ 23,842     $ 25,191  

Work Truck Solutions

    10,339       9,841       21,296       19,667  
    $ 21,751     $ 23,370     $ 45,138     $ 44,858  

Other segment items (1)

                               

Work Truck Attachments

  $ 65,132     $ 68,816     $ 88,832     $ 85,462  

Work Truck Solutions

    64,827       64,021       123,376       120,008  
    $ 129,959     $ 132,837     $ 212,208     $ 205,470  

Adjusted EBITDA

                               

Work Truck Attachments

  $ 31,570     $ 35,792     $ 31,897     $ 31,324  

Work Truck Solutions

    11,047       7,903       20,151       13,905  
    $ 42,617     $ 43,695     $ 52,048     $ 45,229  

Depreciation and amortization expense

                               

Work Truck Attachments

  $ 1,919     $ 2,363     $ 3,869     $ 5,710  

Work Truck Solutions

    1,907       2,044       3,780       4,042  
    $ 3,826     $ 4,407     $ 7,649     $ 9,752  

Assets

                               

Work Truck Attachments

  $ 409,235     $ 413,752                  

Work Truck Solutions

    262,236       203,215                  
    $ 671,471     $ 616,967                  

Capital Expenditures

                               

Work Truck Attachments

  $ 2,121     $ 459     $ 3,216     $ 1,134  

Work Truck Solutions

    1,064       1,212       1,722       1,311  
    $ 3,185     $ 1,671     $ 4,938     $ 2,445  

Adjusted EBITDA

                               

Work Truck Attachments

  $ 31,570     $ 35,792     $ 31,897     $ 31,324  

Work Truck Solutions

    11,047       7,903       20,151       13,905  

Total Adjusted EBITDA

  $ 42,617     $ 43,695     $ 52,048     $ 45,229  

Less items to reconcile Adjusted EBITDA to income before taxes:

                               

Interest expense - net

    2,973       4,123       5,357       7,647  

Depreciation expense

    2,276       2,777       4,549       5,492  

Amortization

    1,550       1,630       3,100       4,260  

Stock based compensation

    1,554       2,478       3,704       2,833  

Impairment charges (2)

    -       -       -       1,224  

Debt modification expense

    -       -       176       -  

Loss on extinguishment of debt

    -       -       156       -  

Other charges (3)

    119       560       371       1,589  

Income before taxes

  $ 34,145     $ 32,127     $ 34,635     $ 22,184