Segments (Tables)

9 Months Ended

Sep. 30, 2024

Segment Information

Summary of revenue and other financial information by reportable segment

	Contract		Aftermarket
(in thousands)	Operations		Services		Total
Three months ended September 30, 2024
Revenue	$	245,420	$	46,741	$	292,161
Adjusted gross margin		165,610		12,346		177,956
Three months ended September 30, 2023
Revenue	$	207,552	$	45,815	$	253,367
Adjusted gross margin		132,279		9,127		141,406
Nine months ended September 30, 2024
Revenue	$	693,939	$	137,236	$	831,175
Adjusted gross margin		457,108		32,683		489,791
Nine months ended September 30, 2023
Revenue	$	596,417	$	134,327	$	730,744
Adjusted gross margin		365,629		28,388		394,017

Reconciliation of total gross margin to income before taxes

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in thousands)	2024		2023		2024		2023
Total adjusted gross margin	$	177,956	$	141,406	$	489,791	$	394,017
Less:
Selling, general and administrative		34,059		28,558		96,887		83,632
Depreciation and amortization		48,377		42,155		135,065		123,546
Long-lived and other asset impairment		2,509		2,922		9,478		8,383
Restructuring charges		—		592		—		1,554
Debt extinguishment loss		3,181		—		3,181		—
Interest expense		30,179		28,339		85,372		83,550
Transaction-related costs		9,220		—		11,002		—
Gain on sale of assets, net		(2,218)		(3,237)		(5,175)		(8,018)
Other expense (income), net		(304)		(235)		(37)		1,831
Income before income taxes	$	52,953	$	42,312	$	154,018	$	99,539