Quarterly report [Sections 13 or 15(d)]

Note 15 - Segments (Tables)

v3.25.3
Note 15 - Segments (Tables)
9 Months Ended
Sep. 30, 2025
Notes Tables  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
   

Three Months Ended

   

Three Months Ended

   

Nine Months Ended

   

Nine Months Ended

 
   

September 30,

   

September 30,

   

September 30,

   

September 30,

 
   

2025

   

2024

   

2025

   

2024

 

Net sales

                               

Work Truck Attachments

  $ 68,097     $ 60,249     $ 212,668     $ 202,226  

Work Truck Solutions

    94,024       69,149       258,847       222,729  
    $ 162,121     $ 129,398     $ 471,515     $ 424,955  

Selling, general and administrative expense

                               

Work Truck Attachments

  $ 11,971     $ 16,583     $ 35,813     $ 41,773  

Work Truck Solutions

    10,502       9,105       31,798       28,773  
    $ 22,473     $ 25,688     $ 67,611     $ 70,546  

Other segment items (1)

                               

Work Truck Attachments

  $ 45,665     $ 35,527     $ 134,497     $ 120,990  

Work Truck Solutions

    73,898       52,852       197,274       172,859  
    $ 119,563     $ 88,379     $ 331,771     $ 293,849  

Adjusted EBITDA

                               

Work Truck Attachments

  $ 10,461     $ 8,139     $ 42,358     $ 39,463  

Work Truck Solutions

    9,624       7,192       29,775       21,097  
    $ 20,085     $ 15,331     $ 72,133     $ 60,560  

Depreciation and amortization expense

                               

Work Truck Attachments

  $ 1,902     $ 2,235     $ 5,771     $ 7,945  

Work Truck Solutions

    1,923       2,042       5,703       6,084  
    $ 3,825     $ 4,277     $ 11,474     $ 14,029  

Assets

                               

Work Truck Attachments

  $ 430,212     $ 437,402                  

Work Truck Solutions

    264,724       228,185                  
    $ 694,936     $ 665,587                  

Capital Expenditures

                               

Work Truck Attachments

  $ 1,429     $ 738     $ 4,645     $ 1,872  

Work Truck Solutions

    1,595       348       3,317       1,659  
    $ 3,024     $ 1,086     $ 7,962     $ 3,531  

Adjusted EBITDA

                               

Work Truck Attachments

  $ 10,461     $ 8,139     $ 42,358     $ 39,463  

Work Truck Solutions

    9,624       7,192       29,775       21,097  

Total Adjusted EBITDA

  $ 20,085     $ 15,331     $ 72,133     $ 60,560  

Less items to reconcile Adjusted EBITDA to income before taxes:

                               

Interest expense - net

    3,762       4,469       9,119       12,116  

Depreciation expense

    2,275       2,647       6,824       8,139  

Amortization

    1,550       1,630       4,650       5,890  

Sale leaseback transaction fees

    -       5,257       -       5,257  

Stock based compensation

    1,519       794       5,223       3,627  

Restructuring and severance costs

    -       417       -       1,819  

Impairment charges (2)

    -       -       -       1,224  

Debt modification expense

    -       -       176       -  

Loss on extinguishment of debt

    -       -       156       -  

Gain on sale leaseback transaction

    -       (42,298 )     -       (42,298 )

Other charges (3)

    567       675       938       862  

Income before taxes

  $ 10,412     $ 41,740     $ 45,047     $ 63,924