Quarterly report [Sections 13 or 15(d)]

Note 15 - Segments (Tables)

v3.26.1
Note 15 - Segments (Tables)
6 Months Ended
Jun. 30, 2026
Notes Tables  
Segment Reporting [Table Text Block]
   

Three Months Ended

   

Three Months Ended

   

Six Months Ended

   

Six Months Ended

 
   

June 30,

   

June 30,

   

June 30,

   

June 30,

 
   

2026

   

2025

   

2026

   

2025

 

Net sales

                               

Work Truck Attachments

  $ 129,330     $ 108,114     $ 190,241     $ 144,571  

Work Truck Solutions

    85,318       86,213       162,204       164,823  
    $ 214,648     $ 194,327     $ 352,445     $ 309,394  

Selling, general and administrative expense

                               

Work Truck Attachments

  $ 18,017     $ 11,412     $ 32,479     $ 23,842  

Work Truck Solutions

    11,814       10,339       23,693       21,296  
    $ 29,831     $ 21,751     $ 56,172     $ 45,138  

Other segment items (1)

                               

Work Truck Attachments

  $ 75,512     $ 65,132     $ 114,298     $ 88,832  

Work Truck Solutions

    64,727       64,827       120,586       123,376  
    $ 140,239     $ 129,959     $ 234,884     $ 212,208  

Adjusted EBITDA

                               

Work Truck Attachments

  $ 35,801     $ 31,570     $ 43,464     $ 31,897  

Work Truck Solutions

    8,777       11,047       17,925       20,151  
    $ 44,578     $ 42,617     $ 61,389     $ 52,048  

Depreciation and amortization expense

                               

Work Truck Attachments

  $ 1,866     $ 1,919     $ 3,763     $ 3,869  

Work Truck Solutions

    1,956       1,907       3,915       3,780  
    $ 3,822     $ 3,826     $ 7,678     $ 7,649  

Assets

                               

Work Truck Attachments

  $ 448,511     $ 409,235                  

Work Truck Solutions

    277,158       262,236                  
    $ 725,669     $ 671,471                  

Capital Expenditures

                               

Work Truck Attachments

  $ 2,273     $ 2,121     $ 4,508     $ 3,216  

Work Truck Solutions

    1,939       1,064       3,169       1,722  
    $ 4,212     $ 3,185     $ 7,677     $ 4,938  

Adjusted EBITDA

                               

Work Truck Attachments

  $ 35,801     $ 31,570     $ 43,464     $ 31,897  

Work Truck Solutions

    8,777       11,047       17,925       20,151  

Total Adjusted EBITDA

  $ 44,578     $ 42,617     $ 61,389     $ 52,048  

Less items to reconcile Adjusted EBITDA to income before taxes:

                               

Interest expense - net

    2,324       2,973       4,386       5,357  

Depreciation expense

    2,304       2,276       4,643       4,549  

Amortization expense

    1,518       1,550       3,035       3,100  

Stock based compensation

    4,450       1,554       6,987       3,704  

Debt modification expense

    -       -       -       176  

Loss on extinguishment of debt

    -       -       -       156  

Other charges (2)

    265       119       726       371  

Income before taxes

  $ 33,717     $ 34,145     $ 41,612     $ 34,635