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SEGMENT REPORTING
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENT REPORTING SEGMENT REPORTING
We have three reportable and operating segments: Service Centers, Innovative Pumping Solutions, and Supply Chain Services.

The Service Centers segment is engaged in providing maintenance, MRO products and equipment, including logistics capabilities, to industrial customers. The Service Centers segment provides a wide range of MRO products in the rotating equipment, bearing, power transmission, hose, fluid power, metal working, industrial supply, safety products and safety services categories.

The Innovative Pumping Solutions segment fabricates and assembles custom-made engineered solutions including pump packages, re-manufactured pumps, manufacturing of branded private label pumps, and provides products and process lines for the water and wastewater treatment industries.

The Supply Chain Services segment provides a wide range of MRO products and manages all or part of a customer's supply chain, including warehouse and inventory management.

Sales are shown net of intersegment eliminations.

Segment information is prepared on the same basis that our Chief Executive Officer, who is our chief operating decision maker (“CODM”), manages the segments, evaluates financial results, and makes key operating decisions.

These segments were determined primarily on the distribution channels of the products and services offered and the nature of the customer markets and the primary driver of the customers spend. The Company's CODM directs the allocation of resources to these segments based upon historical and current revenue, direct operating expenses, operating income, and capital expenditures of each respective segment. The allocation of resources across these segments is dependent upon, among other factors, the segments' historical or future expected operating margins; the segments' historical or future expected returns on capital; outlook within a specific market; opportunities to grow profitability; new products, services or new customer accounts; confidence in management; and competitive landscape and intensity.

As a part of the Company's annual business planning, the CODM reviews our reportable segment composition and financial performance. As of June 30, 2026, there was no change to our reportable segment composition.
The following table sets forth financial information related to the Company's segments (in thousands):

Three Months Ended June 30, 2026
Service Center
Innovative Pumping Solutions
Supply Chain Services
Total Reportable Segments
Corporate
Total
Sales
$367,898 $142,739 $65,824 $576,461 $— $576,461 
Operating expenses
310,809 114,859 59,242 484,910 — 484,910 
Other expenses
Depreciation1,040 971 7 2,018 1,040 3,058 
Amortization of finance lease assets
1,884 248 91 2,223 124 2,347 
Other(1)
— — — — 30,653 30,653 
Operating income (loss)$54,165 $26,661 $6,484 $87,310 $(31,817)$55,493 
Interest expense— — — — 16,831 16,831 
Other income, net— — — — (1,059)(1,059)
Income (loss) before income taxes$54,165 $26,661 $6,484 $87,310 $(47,589)$39,721 
Capital expenditures$827 $674 $— $1,501 $1,120 $2,621 
(1). Other primarily includes selling, general and administrative expenses of $23.9 million and amortization of intangible assets of $6.8 million.

Three Months Ended June 30, 2025
Service Center
Innovative Pumping Solutions
Supply Chain Services
Total Reportable Segments
Corporate
Total
Sales
$339,731 $93,540 $65,411 $498,682 $— $498,682 
Operating expenses
287,875 73,897 60,135 421,907 — 421,907 
Other expenses
Depreciation932 767 8 1,707 812 2,519 
Amortization of finance lease assets
753 234 39 1,026 616 1,642 
Other(1)
— — — — 26,628 26,628 
Operating income (loss)$50,171 $18,642 $5,229 $74,042 $(28,056)$45,986 
Interest expense— — — — 14,744 14,744 
Other income, net— — — — (354)(354)
Income (loss) before income taxes$50,171 $18,642 $5,229 $74,042 $(42,446)$31,596 
Capital expenditures$461 $912 $— $1,373 $8,973 $10,346 
(1). Other primarily includes selling, general and administrative expenses of $21.3 million and amortization of intangible assets of $5.3 million.
Six Months Ended June 30, 2026
Service Center
Innovative Pumping Solutions
Supply Chain Services
Total Reportable Segments
Corporate
Total
Sales
$705,874 $261,399 $130,846 $1,098,119 $— $1,098,119 
Operating expenses
596,523 210,653 117,771 924,947 — 924,947 
Other expenses
Depreciation2,067 1,843 14 3,924 2,080 6,004 
Amortization of finance lease assets
3,444 570 163 4,177 258 4,435 
Other(1)
— — — — 64,766 64,766 
Operating income (loss)$103,840 $48,333 $12,898 $165,071 $(67,104)$97,967 
Interest expense— — — — 33,274 33,274 
Other income, net— — — — (1,653)(1,653)
Income (loss) before income taxes$103,840 $48,333 $12,898 $165,071 $(98,725)$66,346 
Capital expenditures$2,548 $1,325 $— $3,873 $2,042 $5,915 
(1). Other primarily includes selling, general and administrative expenses of $51.0 million and amortization of intangible assets of $13.8 million.

Six Months Ended June 30, 2025
Service Center
Innovative Pumping Solutions
Supply Chain Services
Total Reportable Segments
Corporate
Total
Sales
$666,806 $179,722 $128,723 $975,251 $— $975,251 
Operating expenses
565,832 145,685 117,835 829,352 — 829,352 
Other Expenses
Depreciation1,869 1,562 16 3,447 1,389 4,836 
Amortization of finance lease assets
1,890 426 80 2,396 708 3,104 
Other(1)
— — — — 51,458 51,458 
Operating income (loss)$97,215 $32,049 $10,792 $140,056 $(53,555)$86,501 
Interest expense— — — — 29,404 29,404 
Other income, net— — — — (1,672)(1,672)
Income (loss) before income taxes$97,215 $32,049 $10,792 $140,056 $(81,287)$58,769 
Capital expenditures$2,498 $1,486 $— $3,984 $26,276 $30,260 
(1). Other primarily includes selling, general and administrative expenses of $40.8 million and amortization of intangible assets of $10.7 million.

The following table sets forth total assets related to the Company's segments (in thousands):

June 30, 2026December 31, 2025
Service Centers$848,856 $820,289 
Innovative Pumping Solutions538,504 383,201 
Supply Chain Services
99,830 95,045 
Total Reportable Segments Assets
$1,487,190 $1,298,535 
Corporate 282,320 386,620 
Total Assets$1,769,510 $1,685,155