Segment Information

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Segment Information

Note 18. Segment Information

The Company reports segment information based on the “management” approach. The management approach designates the internal reporting used by the Chief Executive Officer, who is also the Company’s Chief Operating Decision Maker, for making decisions about the allocation of resources and assessing performance as the source of the Company’s reportable operating segments.

The Company is a leading provider of engineered lifting solutions and equipment rentals. The Company operates in two business segments: the Lifting Equipment segment and the Rental Equipment segment.

Lifting Equipment Segment

The Lifting Equipment segment is a leading provider of engineered lifting solutions. The Company manufactures a comprehensive line of boom trucks, articulating cranes, truck cranes and sign cranes. The Company is also a manufacturer of specialized rough terrain cranes and material handling products. Through PM and Valla, two of the Company's Italian subsidiaries, the Company manufacturers truck- mounted hydraulic knuckle boom cranes and a full range of precision pick and carry industrial cranes using electric, diesel and hybrid power options.

Rental Equipment Segment

The Company’s Rental Equipment segment rents heavy duty and light duty commercial construction equipment, mainly to commercial contractors on a short-term rental basis. The Company also rents equipment to homeowners for do-it-yourself projects.

The following is financial information for our two operating segments: Lifting Equipment and Rental Equipment:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Net revenues
Lifting Equipment	$	57,283	$	63,738	$	191,122	$	191,114
Rental Equipment		9,261		7,593		25,000		21,622
Total revenue	$	66,544	$	71,331	$	216,122	$	212,736
Operating income
Lifting Equipment	$	2,239	$	4,300	$	9,755	$	9,319
Rental Equipment		2,196		879		4,697		1,757
Total operating income	$	4,435	$	5,179	$	14,452	$	11,076
Total assets
Lifting Equipment	$	184,665	$	183,114	$	184,665	$	183,114
Rental Equipment		66,216		64,009		66,216		64,009
Total assets	$	250,881	$	247,123	$	250,881	$	247,123
Depreciation and amortization
Lifting Equipment	$	1,230	$	1,261	$	3,607	$	3,435
Rental Equipment		1,538		1,475		4,606		5,223
Total depreciation and amortization	$	2,768	$	2,736	$	8,213	$	8,658
Capital expenditures
Lifting Equipment	$	347	$	656	$	1,550	$	1,668
Rental Equipment		762		475		6,688		2,969
Total capital expenditures	$	1,109	$	1,131	$	8,238	$	4,637

	Three Months Ended September 30, 2024						Three Months Ended September 30, 2023
	Lifting Equipment		Rental Equipment		Total		Lifting Equipment		Rental Equipment		Total
Net sales by country
United States	$	19,878	$	9,261	$	29,139	$	26,178	$	7,593	$	33,771
Italy		9,538		—		9,538		10,032		—		10,032
Canada		5,874		—		5,874		6,120		—		6,120
Chile		3,622		—		3,622		5,988		—		5,988
United Kingdom		2,845		—		2,845		1,608		—		1,608
Argentina		2,992		—		2,992		2,836		—		2,836
Other		12,534		—		12,534		10,976		—		10,976
Total	$	57,283	$	9,261	$	66,544	$	63,738	$	7,593	$	71,331
	Nine Months Ended September 30, 2024						Nine Months Ended September 30, 2023
	Lifting Equipment		Rental Equipment		Total		Lifting Equipment		Rental Equipment		Total
Net sales by country
United States	$	79,048	$	25,000	$	104,048	$	77,244	$	21,622	$	98,866
Italy		28,465		—		28,465		38,040		—		38,040
Canada		18,391		—		18,391		19,055		—		19,055
Chile		11,372		—		11,372		11,843		—		11,843
United Kingdom		9,239		—		9,239		6,089		—		6,089
Argentina		7,566		—		7,566		4,828		—		4,828
Other		37,041		—		37,041		34,015		—		34,015
Total	$	191,122	$	25,000	$	216,122	$	191,114	$	21,622	$	212,736