| Summary of Segment Information |
The following tables summarize the Company’s segment information for the three and six-month periods ended June 28, 2025 and June 29, 2024, respectively (amounts in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the three-month period ended June 28, 2025 |
|
|
PDS |
|
HHH |
|
MS |
|
Total |
|
Revenue |
$ |
486,012 |
|
$ |
60,112 |
|
$ |
43,429 |
|
$ |
589,553 |
|
Cost of revenue, excluding depreciation and amortization |
|
328,078 |
|
|
27,048 |
|
|
23,627 |
|
|
378,753 |
|
Gross margin |
$ |
157,934 |
|
$ |
33,064 |
|
$ |
19,802 |
|
$ |
210,800 |
|
Gross margin percentage |
|
32.5 |
% |
|
55.0 |
% |
|
45.6 |
% |
|
35.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the three-month period ended June 29, 2024 |
|
|
PDS |
|
HHH |
|
MS |
|
Total |
|
Revenue |
$ |
407,851 |
|
$ |
54,630 |
|
$ |
42,477 |
|
$ |
504,958 |
|
Cost of revenue, excluding depreciation and amortization |
|
296,983 |
|
|
25,227 |
|
$ |
24,481 |
|
|
346,691 |
|
Gross margin |
$ |
110,868 |
|
$ |
29,403 |
|
$ |
17,996 |
|
$ |
158,267 |
|
Gross margin percentage |
|
27.2 |
% |
|
53.8 |
% |
|
42.4 |
% |
|
31.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the six-month period ended June 28, 2025 |
|
|
PDS |
|
HHH |
|
MS |
|
Total |
|
Revenue |
$ |
946,010 |
|
$ |
116,845 |
|
$ |
85,922 |
|
$ |
1,148,777 |
|
Cost of revenue, excluding depreciation and amortization |
|
653,391 |
|
|
53,041 |
|
|
47,987 |
|
|
754,419 |
|
Gross margin |
$ |
292,619 |
|
$ |
63,804 |
|
$ |
37,935 |
|
$ |
394,358 |
|
Gross margin percentage |
|
30.9 |
% |
|
54.6 |
% |
|
44.2 |
% |
|
34.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the six-month period ended June 29, 2024 |
|
|
PDS |
|
HHH |
|
MS |
|
Total |
|
Revenue |
$ |
802,860 |
|
$ |
109,243 |
|
$ |
83,508 |
|
$ |
995,611 |
|
Cost of revenue, excluding depreciation and amortization |
|
591,857 |
|
|
50,866 |
|
$ |
48,767 |
|
|
691,490 |
|
Gross margin |
$ |
211,003 |
|
$ |
58,377 |
|
$ |
34,741 |
|
$ |
304,121 |
|
Gross margin percentage |
|
26.3 |
% |
|
53.4 |
% |
|
41.6 |
% |
|
30.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the three-month periods ended |
|
For the six-month periods ended |
|
Segment Reconciliation: |
June 28, 2025 |
|
June 29, 2024 |
|
June 28, 2025 |
|
June 29, 2024 |
|
Total segment gross margin |
$ |
210,800 |
|
$ |
158,267 |
|
$ |
394,358 |
|
$ |
304,121 |
|
Branch and regional administrative expenses |
|
90,069 |
|
|
87,972 |
|
|
181,456 |
|
|
175,886 |
|
Corporate expenses |
|
34,529 |
|
|
30,245 |
|
|
72,034 |
|
|
60,087 |
|
Depreciation and amortization |
|
2,617 |
|
|
2,833 |
|
|
5,211 |
|
|
5,745 |
|
Acquisition-related costs |
|
3,400 |
|
|
- |
|
|
3,506 |
|
|
- |
|
Other operating expense |
|
151 |
|
|
91 |
|
|
316 |
|
|
2,411 |
|
Operating income |
|
80,034 |
|
|
37,126 |
|
|
131,835 |
|
|
59,992 |
|
Interest income |
|
129 |
|
|
95 |
|
|
261 |
|
|
197 |
|
Interest expense |
|
(36,003 |
) |
|
(39,613 |
) |
|
(72,338 |
) |
|
(79,260 |
) |
Other (expense) income |
|
(22 |
) |
|
6,371 |
|
|
(5,472 |
) |
|
24,540 |
|
Income before income taxes |
$ |
44,138 |
|
$ |
3,979 |
|
$ |
54,286 |
|
$ |
5,469 |
|
|