Summary of Segment Information |
The following tables summarize the Company’s segment information for the three and nine-month periods ended September 30, 2023 and October 1, 2022, respectively (amounts in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the three-month period ended September 30, 2023 |
|
|
PDS |
|
HHH |
|
MS |
|
Total |
|
Revenue |
$ |
384,750 |
|
$ |
52,989 |
|
$ |
40,271 |
|
$ |
478,010 |
|
Cost of revenue, excluding depreciation and amortization |
|
280,288 |
|
|
27,597 |
|
|
22,861 |
|
|
330,746 |
|
Gross margin |
$ |
104,462 |
|
$ |
25,392 |
|
$ |
17,410 |
|
$ |
147,264 |
|
Gross margin percentage |
|
27.2 |
% |
|
47.9 |
% |
|
43.2 |
% |
|
30.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the three-month period ended October 1, 2022 |
|
|
PDS |
|
HHH |
|
MS |
|
Total |
|
Revenue |
$ |
355,620 |
|
$ |
49,853 |
|
$ |
37,536 |
|
$ |
443,009 |
|
Cost of revenue, excluding depreciation and amortization |
|
254,756 |
|
|
32,968 |
|
$ |
20,702 |
|
|
308,426 |
|
Gross margin |
$ |
100,864 |
|
$ |
16,885 |
|
$ |
16,834 |
|
$ |
134,583 |
|
Gross margin percentage |
|
28.4 |
% |
|
33.9 |
% |
|
44.8 |
% |
|
30.4 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the nine-month period ended September 30, 2023 |
|
|
PDS |
|
HHH |
|
MS |
|
Total |
|
Revenue |
$ |
1,135,365 |
|
$ |
164,525 |
|
$ |
116,478 |
|
$ |
1,416,368 |
|
Cost of revenue, excluding depreciation and amortization |
|
815,221 |
|
|
87,189 |
|
|
66,974 |
|
|
969,384 |
|
Gross margin |
$ |
320,144 |
|
$ |
77,336 |
|
$ |
49,504 |
|
$ |
446,984 |
|
Gross margin percentage |
|
28.2 |
% |
|
47.0 |
% |
|
42.5 |
% |
|
31.6 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the nine-month period ended October 1, 2022 |
|
|
PDS |
|
HHH |
|
MS |
|
Total |
|
Revenue |
$ |
1,053,835 |
|
$ |
177,858 |
|
$ |
104,805 |
|
$ |
1,336,498 |
|
Cost of revenue, excluding depreciation and amortization |
|
753,266 |
|
|
98,933 |
|
$ |
59,847 |
|
|
912,046 |
|
Gross margin |
$ |
300,569 |
|
$ |
78,925 |
|
$ |
44,958 |
|
$ |
424,452 |
|
Gross margin percentage |
|
28.5 |
% |
|
44.4 |
% |
|
42.9 |
% |
|
31.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the three-month periods ended |
|
For the nine-month periods ended |
|
Segment Reconciliation: |
September 30, 2023 |
|
October 1, 2022 |
|
September 30, 2023 |
|
October 1, 2022 |
|
Total segment gross margin |
$ |
147,264 |
|
$ |
134,583 |
|
$ |
446,984 |
|
$ |
424,452 |
|
Branch and regional administrative expenses |
|
91,004 |
|
|
89,542 |
|
|
273,967 |
|
|
267,283 |
|
Corporate expenses |
|
27,446 |
|
|
33,215 |
|
|
84,735 |
|
|
105,984 |
|
Goodwill impairment |
|
105,136 |
|
|
- |
|
|
105,136 |
|
|
470,207 |
|
Depreciation and amortization |
|
2,962 |
|
|
4,917 |
|
|
10,494 |
|
|
16,774 |
|
Acquisition-related costs |
|
428 |
|
|
- |
|
|
466 |
|
|
69 |
|
Other operating (income) expense |
|
(3,360 |
) |
|
2,122 |
|
|
(6,593 |
) |
|
1,953 |
|
Operating (loss) income |
|
(76,352 |
) |
|
4,787 |
|
|
(21,221 |
) |
|
(437,818 |
) |
Interest income |
|
50 |
|
|
164 |
|
|
238 |
|
|
369 |
|
Interest expense |
|
(39,599 |
) |
|
(28,462 |
) |
|
(113,542 |
) |
|
(73,745 |
) |
Other income |
|
14,143 |
|
|
45,140 |
|
|
27,124 |
|
|
86,523 |
|
(Loss) income before income taxes |
$ |
(101,758 |
) |
$ |
21,629 |
|
$ |
(107,401 |
) |
$ |
(424,671 |
) |
|