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Segment Information (Tables)
9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
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

)