SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2026

SEGMENT INFORMATION

Summary of financial information by segment


		For the three months ended March 31, 2026

		Water Infrastructure			Water Services			Chemical Technologies			Other			Eliminations			Totals
Revenue		$	97,334		$	192,943		$	78,623		$	-		$	(2,942)		$	365,958
Costs of revenue excluding depreciation, amortization and accretion			(45,069)			(149,503)			(63,306)			-			2,942			(254,936)
Depreciation, amortization and accretion			(28,046)			(15,912)			(1,784)			(1,121)						(46,863)
Selling general and administrative			(6,224)			(8,204)			(4,519)			(21,604)						(40,551)
Other⁽¹⁾			(6,107)			119			84			68						(5,836)

Net income																	$	9,432
Interest expense, net																		5,907
Tax expense																		2,433
Depreciation, amortization and accretion																		46,863
EBITDA		$	39,934		$	35,355		$	10,882		$	(21,536)					$	64,635

Capital expenditures⁽²⁾		$	53,826		$	16,184		$	1,563		$	142					$	71,715


		For the three months ended March 31, 2025

		Water Infrastructure			Water Services			Chemical Technologies			Other			Eliminations			Totals
Revenue		$	72,646		$	227,946		$	76,686		$	-		$	(2,894)		$	374,384
Costs of revenue excluding depreciation, amortization and accretion			(36,101)			(181,740)			(64,992)			-			2,894			(279,939)
Depreciation, amortization and accretion			(19,797)			(17,165)			(1,713)			(925)						(39,600)
Selling general and administrative			(5,682)			(8,788)			(4,525)			(18,437)						(37,432)
Other⁽¹⁾			(537)			(63)			581			(64)						(83)

Net income																	$	9,560
Interest expense, net																		4,876
Tax expense																		2,894
Depreciation, amortization and accretion																		39,600
EBITDA		$	30,326		$	37,355		$	7,750		$	(18,501)					$	56,930

Capital expenditures⁽²⁾		$	40,676		$	18,404		$	1,205		$	496					$	60,781

(1)	Other includes lease abandonment costs, impairments and abandonments, remeasurement gains, gains or losses on sales of property and equipment, TRAs expense, equity in losses of unconsolidated entities and other income and expenses.

(2)	Amounts above include accruals for capital expenditures.

Total assets by segment as of March 31, 2026 and December 31, 2025, is as follows:


		As of			As of
		March 31, 2026			December 31, 2025

		(in thousands)
Water Infrastructure		$	966,228		$	929,789
Water Services			457,989			435,761
Chemical Technologies			148,444			148,773
Other			134,214			81,289
Total		$	1,706,875		$	1,595,612