v3.26.3
REVENUE RECOGNITION
 3 Months Ended
Sep. 30, 2026
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION REVENUE RECOGNITION
Disaggregation of Revenues
The following tables present the Company's net sales by reportable segment and by geographic areas based on the location of the facility shipping the product for the three months ended September 30, 2026 and 2025. Other countries consist of Mexico, Australia, New Zealand, Singapore, and Costa Rica.
Three Months Ended September 30,
20262025
Service CenterEngineered SolutionsTotalService CenterEngineered SolutionsTotal
Geographic Areas:
United States$695,155 $448,267 $1,143,422 $656,804 $399,683 $1,056,487 
Canada70,145 — 70,145 75,317 — 75,317 
Other countries50,049 27,554 77,603 50,353 17,366 67,719 
Total$815,349 $475,821 $1,291,170 $782,474 $417,049 $1,199,523 

The following tables present the Company’s percentage of revenue by reportable segment and major customer industry for the three months ended September 30, 2026 and 2025:
Three Months Ended September 30,
20262025
Service CenterEngineered SolutionsTotalService CenterEngineered SolutionsTotal
General Industry35.4 %41.4 %37.5 %34.4 %42.5 %37.1 %
Industrial Machinery8.0 %27.6 %15.2 %7.9 %24.0 %13.5 %
Metals12.4 %7.3 %10.5 %11.5 %7.1 %10.0 %
Food14.8 %2.7 %10.4 %15.9 %2.6 %11.3 %
Forest Products11.1 %1.9 %7.7 %11.8 %2.1 %8.4 %
Chem/Petrochem2.8 %10.2 %5.5 %2.7 %13.0 %6.3 %
Cement & Aggregate6.7 %1.4 %4.8 %7.6 %1.2 %5.4 %
Oil & Gas5.5 %2.2 %4.3 %4.7 %2.3 %3.9 %
Transportation3.3 %5.3 %4.1 %3.5 %5.2 %4.1 %
Total100.0 %100.0 %100.0 %100.0 %100.0 %100.0 %
The following tables present the Company’s percentage of revenue by reportable segment and product line for the three months ended September 30, 2026 and 2025:
Three Months Ended September 30,
20262025
Service CenterEngineered SolutionsTotalService CenterEngineered SolutionsTotal
Power Transmission36.8 %8.3 %26.3 %37.5 %8.6 %27.5 %
General MRO & Other23.3 %27.2 %24.8 %22.3 %25.0 %23.2 %
Fluid Power14.6 %36.5 %22.6 %14.3 %37.7 %22.4 %
Bearings, Linear & Seals25.3 %1.3 %16.5 %25.9 %0.3 %17.0 %
Specialty Flow Control— %26.7 %9.8 %— %28.4 %9.9 %
Total100.0 %100.0 %100.0 %100.0 %100.0 %100.0 %
Contract Assets and Liabilities
Depending on the terms of the contracts with certain customers, the Company may receive payments from customers before the goods or services are delivered, typically as down payments for products to be delivered in the future. These amounts are recorded as contract liabilities (deferred revenue), as the performance obligations have not yet been satisfied. The Company’s contract assets consist of unbilled amounts resulting from contracts for which revenue is recognized over time using the cost-to-cost method, and for which revenue recognized exceeds the amount billed to the customer.
Activity related to contract assets and contract liabilities, which are included in other current assets and other current liabilities on the condensed consolidated balance sheet, is as follows:
September 30, 2026June 30, 2026$ Change% Change
Contract assets$22,544 $28,702 $(6,158)(21.5)%
Contract liabilities32,325 30,648 1,677 5.5 %
The change in balances noted above of the Company's contract assets primarily results from the timing difference between the satisfaction of the Company's performance and when the customer is billed.