v3.26.1
Segments (Tables)
6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Results of Operations by Reportable Segment

The following tables summarize key financial information by reportable segment:

 

Three months ended June 30, 2026

 

 

Material
Handling

 

 

Construction
Equipment

 

 

Master Distribution

 

 

Corporate and Other

 

 

Total

 

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

 

 

 

22.8

 

 

 

(0.8

)

 

 

475.5

 

Cost of revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

New and used equipment sales

 

61.1

 

 

 

147.1

 

 

 

14.4

 

 

 

(0.7

)

 

 

221.9

 

Parts sales

 

15.0

 

 

 

33.6

 

 

 

2.2

 

 

 

(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

 

 

 

6.2

 

 

 

105.6

 

Other segment items(1)

 

(0.7

)

 

 

(0.2

)

 

 

0.4

 

 

 

(2.3

)

 

 

(2.8

)

Segment adjusted EBITDA(2)

 

19.0

 

 

 

30.6

 

 

 

2.8

 

 

 

(3.8

)

 

 

48.6

 

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

33.8

 

Interest expense

 

 

 

 

 

 

 

 

 

 

 

 

 

19.5

 

Other(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

3.2

 

Loss before taxes

 

 

 

 

 

 

 

 

 

 

 

 

$

(7.9

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

1.8

 

 

 

0.9

 

 

 

19.5

 

 

 

 

Three months ended June 30, 2025

 

 

Material
Handling

 

 

Construction
Equipment

 

 

Master Distribution

 

 

Corporate and Other

 

 

Total

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

28.8

 

Total revenues

 

160.7

 

 

 

300.7

 

 

 

20.9

 

 

 

(1.1

)

 

 

481.2

 

Cost of revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

New and used equipment sales

 

67.6

 

 

 

147.4

 

 

 

14.2

 

 

 

(0.7

)

 

 

228.5

 

Parts sales

 

14.7

 

 

 

34.0

 

 

 

2.2

 

 

 

(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

 

 

 

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.