SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2025

SEGMENT INFORMATION

Summary of financial information by segment


		For the three months ended June 30, 2025

		Water Infrastructure			Water Services			Chemical Technologies			Other			Eliminations			Totals
Revenue		$	81,244		$	217,952		$	68,300		$	-		$	(3,281)		$	364,215
Costs of revenue excluding depreciation, amortization and accretion			(39,262)			(173,341)			(56,086)			-			3,281			(265,408)
Depreciation, amortization and accretion			(22,252)			(17,089)			(1,713)			(1,918)						(42,972)
Selling general and administrative			(5,356)			(8,943)			(4,583)			(20,053)						(38,935)
Other⁽¹⁾			4,024			2,371			123			(1,581)						4,937

Net income																	$	11,671
Interest expense, net																		5,645
Tax expense																		4,521
Depreciation, amortization and accretion																		42,972
EBITDA		$	40,650		$	38,039		$	7,754		$	(21,634)					$	64,809

Capital expenditures		$	60,756		$	5,386		$	807		$	343					$	67,292


		For the three months ended June 30, 2024

		Water Infrastructure			Water Services			Chemical Technologies			Other			Eliminations			Totals
Revenue		$	68,880		$	231,550		$	66,828		$	-		$	(2,127)		$	365,131
Costs of revenue excluding depreciation, amortization and accretion			(35,304)			(178,393)			(55,960)			-			2,127			(267,530)
Depreciation, amortization and accretion			(14,629)			(21,012)			(1,804)			(748)						(38,193)
Selling general and administrative			(4,566)			(7,669)			(4,704)			(22,042)						(38,981)
Other⁽¹⁾			(121)			1,267			(580)			(109)						457

Net income																	$	14,899
Interest expense, net																		2,026
Tax expense																		3,959
Depreciation, amortization and accretion																		38,193
EBITDA		$	28,889		$	46,755		$	5,584		$	(22,151)					$	59,077

Capital expenditures		$	34,760		$	13,218		$	827		$	147					$	48,952


		For the six months ended June 30, 2025

		Water Infrastructure			Water Services			Chemical Technologies			Other			Eliminations			Totals
Revenue		$	153,890		$	445,899		$	144,986		$	-		$	(6,176)		$	738,599
Costs of revenue excluding depreciation, amortization and accretion			(75,362)			(355,083)			(121,078)			-			6,176			(545,347)
Depreciation, amortization and accretion			(42,049)			(34,254)			(3,426)			(2,843)						(82,572)
Selling general and administrative			(11,039)			(17,731)			(9,108)			(38,489)						(76,367)
Other⁽¹⁾			3,487			2,307			704			(1,644)						4,854

Net income																	$	21,231
Interest expense, net																		10,521
Tax expense																		7,415
Depreciation, amortization and accretion																		82,572
EBITDA		$	70,976		$	75,392		$	15,504		$	(40,133)					$	121,739

Capital expenditures		$	101,432		$	23,790		$	2,012		$	839					$	128,073


		For the six months ended June 30, 2024

		Water Infrastructure			Water Services			Chemical Technologies			Other			Eliminations			Totals
Revenue		$	132,734		$	462,131		$	141,901		$	-		$	(5,087)		$	731,679
Costs of revenue excluding depreciation, amortization and accretion			(71,372)			(360,090)			(118,134)			-			5,087			(544,509)
Depreciation, amortization and accretion			(28,530)			(42,126)			(3,681)			(2,006)						(76,343)
Selling general and administrative			(8,820)			(16,420)			(9,956)			(47,765)						(82,961)
Other⁽¹⁾			(202)			(524)			528			177						(21)

Net income																	$	18,774
Interest expense, net																		3,298
Tax expense																		5,411
Depreciation, amortization and accretion																		76,343
EBITDA		$	52,340		$	86,145		$	13,283		$	(47,942)					$	103,826

Capital expenditures		$	61,413		$	23,416		$	2,369		$	83					$	87,281

(1)	Other includes lease abandonment costs, impairments, bargain purchase gain, gains or losses on sales of property and equipment, tax receivable agreements expense, equity in losses of unconsolidated entities and other income and expenses.

Total assets by segment as of June 30, 2025 and December 31, 2024, is as follows:


		As of			As of
		June 30, 2025			December 31, 2024

		(in thousands)
Water Infrastructure		$	803,897		$	652,870
Water Services			553,265			523,545
Chemical Technologies			141,092			136,658
Other			48,235			53,209
Total		$	1,546,489		$	1,366,282