v3.26.1
Revenue and Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Revenue and Segment Information Revenue and Segment Information
Revenues from Contracts with Customers

Disaggregation of revenue is presented in the tables below by product type and by geographical location. Management has determined that this level of disaggregation would be beneficial to users of the financial statements.
Revenue by Product Type
Three Months Ended
June 30,		Six Months Ended
June 30,
(in thousands)2026202520262025
Net Sales
Wholegoods
$358,514 $339,095 $690,192 $652,235 
Parts
70,577 63,044 140,049 124,420 
Other
21,642 16,934 37,641 33,368 
Consolidated$450,733 $419,073 $867,882 $810,023 

Other includes rental sales, extended warranty sales and service sales as they are considered immaterial.

Revenue by Geographical Location
Three Months Ended
June 30,		Six Months Ended
June 30,
(in thousands)2026202520262025
Net Sales
United States
$334,070 $307,347 $631,784 $582,820 
Canada
34,176 32,823 65,474 71,922 
France
20,805 22,214 46,865 43,962 
United Kingdom
25,403 21,226 48,449 42,701 
Brazil
6,545 10,512 14,560 19,892 
Netherlands6,604 5,278 13,112 10,962 
Australia
2,861 3,276 7,390 8,951 
Germany2,463 2,070 5,391 3,502 
Other
17,806 14,327 34,857 25,311 
Consolidated$450,733 $419,073 $867,882 $810,023 

Net sales are attributed to countries based on the location of the customer.
Segment Information

The Company’s Chief Operating Decision Maker (CODM) is the Chief Executive Officer. The CODM is responsible for evaluating the performance of the Company’s operating segments. This evaluation of operating segments supports the allocation of resources, both financial and human, to optimize income from operations as the measure of segment profit and loss.

Our reportable segments are our two Divisions: Vegetation Management and Industrial Equipment.

The CODM focuses heavily on operating performance and reviews mainly non-GAAP measures, such as bookings and backlog, absorption, and headcount. The CODM does not utilize asset metrics to evaluate the segment performance. The GAAP measures used are:

•Division Net Sales
•Division Cost of Sales
•Division Operating Expenses
•Division Income from Operations

The following includes a summary of the unaudited financial information by reporting segment at June 30, 2026:  

Three Months Ended June 30, 2026
VegetationIndustrial
(in thousands)ManagementEquipmentConsolidated
Net Sales$179,092 $271,641 $450,733 
Less:
Cost of Sales(139,461)(200,416)(339,877)
Operating Expenses(30,726)(34,365)(65,091)
Income from Operations8,905 36,860 45,765 
Interest Income1,239 
Other Income (Expense)(619)
Interest Expense(4,792)
Income Before Taxes41,593 
Taxes10,653 
Net Income$30,940 
Three Months Ended June 30, 2025
VegetationIndustrial
(in thousands)ManagementEquipmentConsolidated
Net Sales$178,358 $240,715 $419,073 
Less:
Cost of Sales(134,193)(176,588)(310,781)
Operating Expenses(31,414)(29,800)(61,214)
Income from Operations12,751 34,327 47,078 
Interest Income1,195 
Other Income (Expense)(3,183)
Interest Expense(3,684)
Income Before Taxes41,406 
Taxes10,300 
Net Income$31,106 
Six Months Ended June 30, 2026
VegetationIndustrial
(in thousands)ManagementEquipmentConsolidated
Net Sales$354,512 $513,370 $867,882 
Less:
Cost of Sales(273,951)(378,270)(652,221)
Operating Expenses(61,143)(66,594)(127,737)
Income from Operations19,418 68,506 87,924 
Interest Income2,720 
Other Income (Expense)(587)
Interest Expense(9,416)
Income Before Taxes80,641 
Taxes20,517 
Net Income$60,124 

Six Months Ended June 30, 2025
VegetationIndustrial
(in thousands)ManagementEquipmentConsolidated
Net Sales$342,248 $467,775 $810,023 
Less:
Cost of Sales(255,706)(343,184)(598,890)
Operating Expenses(60,479)(59,114)(119,593)
Income from Operations26,063 65,477 91,540 
Interest Income2,433 
Other Income (Expense)(3,846)
Interest Expense(6,878)
Income Before Taxes83,249 
Taxes20,343 
Net Income$62,906 
(in thousands)
June 30, 2026December 31, 2025
Goodwill
Vegetation Management
$129,421 $129,773 
Industrial Equipment
141,897 84,838 
Consolidated$271,318 $214,611 
Total Identifiable Assets
Vegetation Management
$860,341 $920,814 
Industrial Equipment
863,261 685,802 
Consolidated$1,723,602 $1,606,616