The following tables summarize key financial information by reportable segment:
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Three months ended June 30, 2026 |
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Material Handling |
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Construction Equipment |
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Master Distribution |
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Corporate and Other |
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Total |
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Revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New and used equipment sales |
$ |
74.3 |
|
|
$ |
168.6 |
|
|
$ |
19.7 |
|
|
$ |
(0.5 |
) |
|
$ |
262.1 |
|
Parts sales |
|
23.9 |
|
|
|
49.1 |
|
|
|
2.9 |
|
|
|
(0.3 |
) |
|
|
75.6 |
|
Service revenues |
|
35.1 |
|
|
|
28.6 |
|
|
|
0.1 |
|
|
|
— |
|
|
|
63.8 |
|
Rental revenues |
|
16.7 |
|
|
|
28.1 |
|
|
|
0.1 |
|
|
|
— |
|
|
|
44.9 |
|
Rental equipment sales |
|
5.5 |
|
|
|
23.6 |
|
|
|
— |
|
|
|
— |
|
|
|
29.1 |
|
Total revenues |
|
155.5 |
|
|
|
298.0 |
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|
|
22.8 |
|
|
|
(0.8 |
) |
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|
475.5 |
|
Cost of revenues: |
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|
|
|
|
|
|
|
|
|
|
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New and used equipment sales |
|
61.1 |
|
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|
147.1 |
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|
|
14.4 |
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|
|
(0.7 |
) |
|
|
221.9 |
|
Parts sales |
|
15.0 |
|
|
|
33.6 |
|
|
|
2.2 |
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|
|
(0.2 |
) |
|
|
50.6 |
|
Service revenues |
|
13.2 |
|
|
|
11.2 |
|
|
|
0.2 |
|
|
|
— |
|
|
|
24.6 |
|
Rental revenues |
|
0.9 |
|
|
|
3.1 |
|
|
|
— |
|
|
|
— |
|
|
|
4.0 |
|
Rental equipment sales |
|
3.6 |
|
|
|
19.4 |
|
|
|
— |
|
|
|
— |
|
|
|
23.0 |
|
Selling, general and administrative expenses |
|
43.4 |
|
|
|
53.2 |
|
|
|
2.8 |
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|
6.2 |
|
|
|
105.6 |
|
Other segment items(1) |
|
(0.7 |
) |
|
|
(0.2 |
) |
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|
0.4 |
|
|
|
(2.3 |
) |
|
|
(2.8 |
) |
Segment adjusted EBITDA(2) |
|
19.0 |
|
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|
30.6 |
|
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|
2.8 |
|
|
|
(3.8 |
) |
|
|
48.6 |
|
Depreciation and amortization |
|
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|
33.8 |
|
Interest expense |
|
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|
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|
|
|
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|
|
19.5 |
|
Other(1) |
|
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|
|
|
|
|
|
3.2 |
|
Loss before taxes |
|
|
|
|
|
|
|
|
|
|
|
|
$ |
(7.9 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Total assets, end of period |
$ |
376.7 |
|
|
$ |
821.0 |
|
|
$ |
86.4 |
|
|
$ |
38.4 |
|
|
$ |
1,322.5 |
|
Capital expenditures |
|
4.9 |
|
|
|
0.7 |
|
|
|
— |
|
|
|
0.1 |
|
|
|
5.7 |
|
Depreciation and amortization |
|
9.8 |
|
|
|
22.8 |
|
|
|
1.0 |
|
|
|
0.2 |
|
|
|
33.8 |
|
Interest expense |
|
6.1 |
|
|
|
10.7 |
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|
1.8 |
|
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|
0.9 |
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|
19.5 |
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|
Three months ended June 30, 2025 |
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|
Material Handling |
|
|
Construction Equipment |
|
|
Master Distribution |
|
|
Corporate and Other |
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|
Total |
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Revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
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|
New and used equipment sales |
$ |
81.9 |
|
|
$ |
167.0 |
|
|
$ |
17.6 |
|
|
$ |
(0.9 |
) |
|
$ |
265.6 |
|
Parts sales |
|
23.7 |
|
|
|
49.1 |
|
|
|
3.0 |
|
|
|
(0.2 |
) |
|
|
75.6 |
|
Service revenues |
|
33.3 |
|
|
|
31.3 |
|
|
|
0.3 |
|
|
|
— |
|
|
|
64.9 |
|
Rental revenues |
|
17.5 |
|
|
|
28.8 |
|
|
|
— |
|
|
|
— |
|
|
|
46.3 |
|
Rental equipment sales |
|
4.3 |
|
|
|
24.5 |
|
|
|
— |
|
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|
— |
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|
28.8 |
|
Total revenues |
|
160.7 |
|
|
|
300.7 |
|
|
|
20.9 |
|
|
|
(1.1 |
) |
|
|
481.2 |
|
Cost of revenues: |
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|
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|
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|
|
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|
New and used equipment sales |
|
67.6 |
|
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|
147.4 |
|
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|
14.2 |
|
|
|
(0.7 |
) |
|
|
228.5 |
|
Parts sales |
|
14.7 |
|
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|
34.0 |
|
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|
2.2 |
|
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|
(0.2 |
) |
|
|
50.7 |
|
Service revenues |
|
14.0 |
|
|
|
11.9 |
|
|
|
0.2 |
|
|
|
— |
|
|
|
26.1 |
|
Rental revenues |
|
1.3 |
|
|
|
3.9 |
|
|
|
— |
|
|
|
— |
|
|
|
5.2 |
|
Rental equipment sales |
|
2.5 |
|
|
|
18.9 |
|
|
|
— |
|
|
|
— |
|
|
|
21.4 |
|
Selling, general and administrative expenses |
|
44.0 |
|
|
|
52.4 |
|
|
|
2.9 |
|
|
|
3.0 |
|
|
|
102.3 |
|
Other segment items(1) |
|
(0.2 |
) |
|
|
0.5 |
|
|
|
0.3 |
|
|
|
(2.1 |
) |
|
|
(1.5 |
) |
Segment adjusted EBITDA(2) |
|
16.8 |
|
|
|
31.7 |
|
|
|
1.1 |
|
|
|
(1.1 |
) |
|
|
48.5 |
|
Depreciation and amortization |
|
|
|
|
|
|
|
|
|
|
|
|
|
34.6 |
|
Interest expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
22.3 |
|
Other(1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
(3.6 |
) |
Loss before taxes |
|
|
|
|
|
|
|
|
|
|
|
|
$ |
(4.8 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets, end of period |
$ |
436.0 |
|
|
$ |
878.6 |
|
|
$ |
85.6 |
|
|
$ |
35.8 |
|
|
$ |
1,436.0 |
|
Capital expenditures |
|
5.6 |
|
|
|
8.2 |
|
|
|
— |
|
|
|
0.1 |
|
|
|
13.9 |
|
Depreciation and amortization |
|
10.5 |
|
|
|
22.9 |
|
|
|
1.0 |
|
|
|
0.2 |
|
|
|
34.6 |
|
Interest expense |
|
6.4 |
|
|
|
12.8 |
|
|
|
1.3 |
|
|
|
1.8 |
|
|
|
22.3 |
|
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|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, 2026 |
|
|
Material Handling |
|
|
Construction Equipment |
|
|
Master Distribution |
|
|
Corporate and Other |
|
|
Total |
|
Revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New and used equipment sales |
$ |
147.1 |
|
|
$ |
289.8 |
|
|
$ |
33.8 |
|
|
$ |
(1.7 |
) |
|
$ |
469.0 |
|
Parts sales |
|
47.2 |
|
|
|
94.5 |
|
|
|
5.6 |
|
|
|
(0.5 |
) |
|
|
146.8 |
|
Service revenues |
|
69.1 |
|
|
|
58.0 |
|
|
|
0.3 |
|
|
|
— |
|
|
|
127.4 |
|
Rental revenues |
|
33.2 |
|
|
|
50.1 |
|
|
|
0.2 |
|
|
|
— |
|
|
|
83.5 |
|
Rental equipment sales |
|
9.4 |
|
|
|
49.9 |
|
|
|
— |
|
|
|
— |
|
|
|
59.3 |
|
Total revenues |
|
306.0 |
|
|
|
542.3 |
|
|
|
39.9 |
|
|
|
(2.2 |
) |
|
|
886.0 |
|
Cost of revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New and used equipment sales |
|
119.6 |
|
|
|
254.1 |
|
|
|
25.8 |
|
|
|
(1.9 |
) |
|
|
397.6 |
|
Parts sales |
|
29.7 |
|
|
|
65.2 |
|
|
|
3.7 |
|
|
|
(0.4 |
) |
|
|
98.2 |
|
Service revenues |
|
26.3 |
|
|
|
23.2 |
|
|
|
0.4 |
|
|
|
— |
|
|
|
49.9 |
|
Rental revenues |
|
2.1 |
|
|
|
5.9 |
|
|
|
— |
|
|
|
— |
|
|
|
8.0 |
|
Rental equipment sales |
|
6.0 |
|
|
|
42.1 |
|
|
|
— |
|
|
|
— |
|
|
|
48.1 |
|
Selling, general and administrative expenses |
|
91.0 |
|
|
|
106.8 |
|
|
|
5.4 |
|
|
|
10.6 |
|
|
|
213.8 |
|
Other segment items(1) |
|
(0.7 |
) |
|
|
0.5 |
|
|
|
0.8 |
|
|
|
(6.9 |
) |
|
|
(6.3 |
) |
Segment adjusted EBITDA(2) |
|
32.0 |
|
|
|
44.5 |
|
|
|
3.8 |
|
|
|
(3.6 |
) |
|
|
76.7 |
|
Depreciation and amortization |
|
|
|
|
|
|
|
|
|
|
|
|
|
64.1 |
|
Interest expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
39.0 |
|
Other(1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
4.8 |
|
Loss before taxes |
|
|
|
|
|
|
|
|
|
|
|
|
$ |
(31.2 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets, end of period |
$ |
376.7 |
|
|
$ |
821.0 |
|
|
$ |
86.4 |
|
|
$ |
38.4 |
|
|
$ |
1,322.5 |
|
Capital expenditures |
|
9.5 |
|
|
|
4.6 |
|
|
|
— |
|
|
|
0.9 |
|
|
|
15.0 |
|
Depreciation and amortization |
|
19.4 |
|
|
|
42.2 |
|
|
|
2.0 |
|
|
|
0.5 |
|
|
|
64.1 |
|
Interest expense |
|
11.9 |
|
|
|
21.7 |
|
|
|
3.5 |
|
|
|
1.9 |
|
|
|
39.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, 2025 |
|
|
Material Handling |
|
|
Construction Equipment |
|
|
Master Distribution |
|
|
Corporate and Other |
|
|
Total |
|
Revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New and used equipment sales |
$ |
160.3 |
|
|
$ |
293.7 |
|
|
$ |
32.4 |
|
|
$ |
0.9 |
|
|
$ |
487.3 |
|
Parts sales |
|
48.0 |
|
|
|
94.4 |
|
|
|
5.4 |
|
|
|
(0.2 |
) |
|
|
147.6 |
|
Service revenues |
|
67.4 |
|
|
|
63.1 |
|
|
|
0.5 |
|
|
|
— |
|
|
|
131.0 |
|
Rental revenues |
|
35.1 |
|
|
|
53.4 |
|
|
|
— |
|
|
|
0.1 |
|
|
|
88.6 |
|
Rental equipment sales |
|
7.8 |
|
|
|
41.9 |
|
|
|
— |
|
|
|
— |
|
|
|
49.7 |
|
Total revenues |
|
318.6 |
|
|
|
546.5 |
|
|
|
38.3 |
|
|
|
0.8 |
|
|
|
904.2 |
|
Cost of revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New and used equipment sales |
|
130.7 |
|
|
|
259.7 |
|
|
|
25.2 |
|
|
|
1.0 |
|
|
|
416.6 |
|
Parts sales |
|
30.0 |
|
|
|
64.9 |
|
|
|
3.6 |
|
|
|
(0.2 |
) |
|
|
98.3 |
|
Service revenues |
|
27.3 |
|
|
|
24.5 |
|
|
|
0.7 |
|
|
|
— |
|
|
|
52.5 |
|
Rental revenues |
|
2.3 |
|
|
|
7.9 |
|
|
|
— |
|
|
|
— |
|
|
|
10.2 |
|
Rental equipment sales |
|
5.0 |
|
|
|
32.4 |
|
|
|
— |
|
|
|
— |
|
|
|
37.4 |
|
Selling, general and administrative expenses |
|
90.5 |
|
|
|
107.0 |
|
|
|
5.4 |
|
|
|
6.1 |
|
|
|
209.0 |
|
Other segment items(1) |
|
0.4 |
|
|
|
1.4 |
|
|
|
0.8 |
|
|
|
(4.5 |
) |
|
|
(1.9 |
) |
Segment adjusted EBITDA(2) |
|
32.4 |
|
|
|
48.7 |
|
|
|
2.6 |
|
|
|
(1.6 |
) |
|
|
82.1 |
|
Depreciation and amortization |
|
|
|
|
|
|
|
|
|
|
|
|
|
67.0 |
|
Interest expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
44.2 |
|
Other(1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
(4.1 |
) |
Loss before taxes |
|
|
|
|
|
|
|
|
|
|
|
|
$ |
(25.0 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets, end of period |
$ |
436.0 |
|
|
$ |
878.6 |
|
|
$ |
85.6 |
|
|
$ |
35.8 |
|
|
$ |
1,436.0 |
|
Capital expenditures |
|
11.9 |
|
|
|
15.5 |
|
|
|
— |
|
|
|
0.2 |
|
|
|
27.6 |
|
Depreciation and amortization |
|
21.1 |
|
|
|
43.5 |
|
|
|
1.9 |
|
|
|
0.5 |
|
|
|
67.0 |
|
Interest expense |
|
12.7 |
|
|
|
25.6 |
|
|
|
2.7 |
|
|
|
3.2 |
|
|
|
44.2 |
|
(1) Primarily includes other income (expense), certain one-time, non-recurring or non-cash items, and items not necessarily indicative of our underlying operating performance. (2) See definition in Item 2 under Non-GAAP Financial Measures.
|