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CONTRACT ASSETS AND LIABILITIES
 3 Months Ended
Mar. 31, 2026
Contractors [Abstract]  
CONTRACT ASSETS AND LIABILITIES CONTRACT ASSETS AND LIABILITIES
Under our customized pump production and water and wastewater project contracts, amounts are billed as work progresses in accordance with agreed-upon contractual terms, upon various measures of performance, including achievement of certain milestones, completion of specified units, or completion of a contract. Generally, billing occurs subsequent to revenue recognition, resulting in contract assets presented as "Costs and estimated profits in excess of billings." However, we sometimes receive advances or deposits from our customers before revenue is recognized, resulting in contract liabilities that are presented as "Billings in excess of costs and estimated profits" on our unaudited condensed consolidated balance sheets.

Costs and estimated profits on uncompleted contracts and related amounts billed were as follows (in thousands):

 March 31, 2026December 31, 2025
Costs incurred on uncompleted contracts$232,496 $147,866 
Estimated profits, thereon112,709 71,260 
Total costs and estimated profits on uncompleted contracts345,205 219,126 
Less: billings to date311,559 180,960 
Net$33,646 $38,166 

Such amounts were included in the accompanying unaudited condensed consolidated balance sheets for March 31, 2026 and December 31, 2025 under the following captions (in thousands):
 March 31, 2026December 31, 2025
Costs and estimated profits in excess of billings$58,971 $53,855 
Billings in excess of costs and estimated profits(25,325)(15,689)
Net$33,646 $38,166 

During the three months ended March 31, 2026 and 2025, $0.8 million and $5.1 million of the balances that were previously classified as contract liabilities at the beginning of the period were recognized in revenues, respectively. Contract asset and liability changes were primarily due to normal activity and timing differences between our performance and customer payments.
REVENUE
The Company disaggregates revenue based upon our geography and our reportable segments - Service Centers, Innovative Pumping Solutions and Supply Chain Services. Each of our geographic and reportable business segments are impacted and influenced by varying factors, including the macroeconomic environment, maintenance and capital spending and commodity prices and exploration and production activity. As such, we believe this information is important in depicting the nature, timing and uncertainty of our contracts with customers. The following Geographical Information and Note 11 - Segment Reporting presents our disaggregated revenues.

Geographical Information
Revenues are presented in geographic area based on location of the facility shipping products or providing services.

The Company’s revenues by geographical location are as follows:
Three Months Ended March 31,
(in thousands)20262025
Revenues
United States$505,388 $457,240 
Canada15,956 18,988 
Other
314 341 
Total$521,658 $476,569 
Recent Acquisitions
We define and calculate organic sales to include locations and acquisitions under our ownership for at least twelve months. "Acquisition Sales" are sales from acquisitions that have been under our ownership for less than twelve months and are excluded in our calculation of Organic Sales.
The following tables sets forth the disaggregation of sales associated with Acquisition and Organic sales for the three months ended March 31, 2026 and 2025 (in thousands):


SalesAcquisition SalesOrganic Sales
Three Months Ended March 31, 2026
Service Centers$337,976 $5,711 $332,265 
Innovative Pumping Solutions118,660 35,034 83,626 
Supply Chain Services65,022 — 65,022 
Total Sales$521,658 $40,745 $480,913 
Three Months Ended March 31, 2025
Service Centers$327,075 $17,941 $309,134 
Innovative Pumping Solutions86,182 13,171 73,011 
Supply Chain Services63,312 — 63,312 
Total Sales$476,569 $31,112 $445,457 
$ Change
Service Centers$10,901 $(12,230)$23,131 
Innovative Pumping Solutions32,478 21,863 10,615 
Supply Chain Services1,710 — 1,710 
Total $ Change$45,089 $9,633 $35,456 
% Change
Service Centers3.3 %(68.2)%7.5 %
Innovative Pumping Solutions37.7 %166.0 %14.5 %
Supply Chain Services2.7 %N/A2.7 %
Total % Change9.5 %31.0 %8.0 %