Gibraltar Industries (ROCK) 10-Q 3 May 23 2023 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2023	May 01, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	000-22462
Entity Registrant Name	GIBRALTAR INDUSTRIES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	16-1445150
Entity Address, Address Line One	3556 Lake Shore Road
Entity Address, Address Line Two	P.O. Box 2028
Entity Address, City or Town	Buffalo
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	14219-0228
City Area Code	716
Local Phone Number	826-6500
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	ROCK
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		30,410,872
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000912562
Current Fiscal Year End Date	--12-31

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Net sales	$ 293,267	$ 317,865
Cost of sales	216,338	253,021
Gross profit	76,929	64,844
Selling, general, and administrative expense	47,559	43,649
Income from operations	29,370	21,195
Interest expense	1,491	485
Other (income) expense	(397)	153
Income before taxes	28,276	20,557
Provision for income taxes	7,177	5,101
Net income	$ 21,099	$ 15,456
Net earnings per share:
Basic (in dollars per share)	$ 0.68	$ 0.47
Diluted (in dollars per share)	$ 0.68	$ 0.47
Weighted average shares outstanding:
Basic (in shares)	30,897	32,913
Diluted (in shares)	31,024	33,022

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Net income	$ 21,099	$ 15,456
Other comprehensive (loss) income:
Foreign currency translation adjustment	(115)	(227)
Minimum post retirement benefit plan adjustments, net of tax	(8)	(24)
Other comprehensive loss	(107)	(203)
Total comprehensive income	$ 20,992	$ 15,253

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 7,497	$ 17,608
Accounts receivable, net of allowance of $4,164 and $3,746, respectively	230,132	217,156
Inventories, net	171,634	170,360
Prepaid expenses and other current assets	19,015	18,813
Total current assets	428,278	423,937
Property, plant, and equipment, net	107,701	109,584
Operating lease assets	24,432	26,502
Goodwill	512,639	512,363
Acquired intangibles	134,735	137,526
Other assets	707	701
Total assets	1,208,492	1,210,613
Current liabilities:
Accounts payable	129,661	106,582
Accrued expenses	67,103	73,721
Billings in excess of cost	42,929	35,017
Total current liabilities	239,693	215,320
Long-term debt	49,876	88,762
Deferred income taxes	47,030	47,088
Non-current operating lease liabilities	17,488	19,041
Other non-current liabilities	19,018	18,303
Stockholders’ equity:
Preferred stock, $0.01 par value; authorized 10,000 shares; none outstanding	0	0
Common stock, $0.01 par value; authorized 100,000 shares; 34,148 and 34,060 shares issued and outstanding in 2023 and 2022	341	340
Additional paid-in capital	324,466	322,873
Retained earnings	649,077	627,978
Accumulated other comprehensive loss	(3,539)	(3,432)
Cost of 3,389 and 3,199 common shares held in treasury in 2023 and 2022	(134,958)	(125,660)
Total stockholders’ equity	835,387	822,099
Total liabilities and shareholders' equity	$ 1,208,492	$ 1,210,613

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Accounts receivable, allowance	$ 4,164	$ 3,746
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	34,148,000	34,148,000
Common stock, shares outstanding (in shares)	34,060,000	34,060,000
Treasury stock, shares (in shares)	3,389,000	3,199,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash Flows from Operating Activities
Net income available to common stockholders	$ 21,099	$ 15,456
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	6,834	6,336
Stock compensation expense	1,594	1,352
Exit activity (recoveries) costs, non-cash	(63)	1,198
(Benefit of) provision for deferred income taxes	(51)	17
Other, net	1,023	1,395
Changes in operating assets and liabilities, excluding the effects of acquisitions:
Accounts receivable	(18,004)	(11,101)
Inventories	(1,586)	(20,937)
Other current assets and other assets	2,536	731
Accounts payable	23,077	(11,962)
Accrued expenses and other non-current liabilities	1,586	9,761
Net cash provided by (used in) operating activities	38,045	(7,754)
Cash Flows from Investing Activities
Purchases of property, plant, and equipment, net	(2,190)	(4,402)
Acquisitions, net of cash acquired	554	0
Net cash used in investing activities	(1,636)	(4,402)
Cash Flows from Financing Activities
Proceeds from long-term debt	11,000	47,500
Long-term debt payments	(50,000)	(29,000)
Purchase of common stock at market prices	(7,509)	(3,461)
Net cash (used in) provided by financing activities	(46,509)	15,039
Effect of exchange rate changes on cash	(11)	(159)
Net (decrease) increase in cash and cash equivalents	(10,111)	2,724
Cash and cash equivalents at beginning of year	17,608	12,849
Cash and cash equivalents at end of period	$ 7,497	$ 15,573

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Treasury Stock
Beginning balance (in shares) at Dec. 31, 2021		33,799
Balance, value at Dec. 31, 2021	$ 825,258	$ 338	$ 314,541	$ 545,572	$ 187	$ (35,380)
Beginning balance (in shares) at Dec. 31, 2021						(1,107)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	15,456			15,456
Foreign currency translation adjustment	(227)				(227)
Minimum post retirement benefit plan adjustments, net of taxes	24				24
Stock compensation expense	1,352		1,352
Net settlement of restricted stock units, shares		173				72
Net settlement of restricted stock units	(3,461)	$ 2	(2)			$ (3,461)
Ending balance (in shares) at Mar. 31, 2022		33,972
Balance, value at Mar. 31, 2022	$ 838,402	$ 340	315,891	561,028	(16)	$ (38,841)
Ending balance (in shares) at Mar. 31, 2022						(1,179)
Beginning balance (in shares) at Dec. 31, 2022	34,060	34,060
Balance, value at Dec. 31, 2022	$ 822,099	$ 340	322,873	627,978	(3,432)	$ (125,660)
Beginning balance (in shares) at Dec. 31, 2022						3,199
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	21,099			21,099
Foreign currency translation adjustment	(115)				(115)
Minimum post retirement benefit plan adjustments, net of taxes	8				8
Stock compensation expense	1,594		1,594
Net settlement of restricted stock units, shares		88				36
Net settlement of restricted stock units	(1,929)	$ 1	(1)			$ (1,929)
Common stock repurchased under stock repurchase program (in shares)						(154)
Common stock repurchased under stock repurchase program	$ (7,369)					$ (7,369)
Ending balance (in shares) at Mar. 31, 2023	34,060	34,148
Balance, value at Mar. 31, 2023	$ 835,387	$ 341	$ 324,466	$ 649,077	$ (3,539)	$ (134,958)
Ending balance (in shares) at Mar. 31, 2023						3,389

Consolidated Statement of Sto_2

Consolidated Statement of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Statement of Stockholders' Equity [Abstract]
Adjustment to pension benefit liability, taxes	$ 3	$ 10

Consolidated Financial Statemen

Consolidated Financial Statements	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
CONSOLIDATED FINANCIAL STATEMENTS	CONSOLIDATED FINANCIAL STATEMENTS The accompanying unaudited consolidated financial statements of Gibraltar Industries, Inc. (the "Company") have been prepared by management in accordance with U.S. generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for the fair presentation of results for the interim period have been included. The Company's operations are seasonal; for this and other reasons financial results for any interim period are not necessarily indicative of the results expected for any subsequent interim period or for the full year. The accompanying unaudited consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the Company's annual report on Form 10-K for the year ended December 31, 2022. The consolidated balance sheet at December 31, 2022 has been derived from the audited financial statements at that date, but does not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements.

Recent Accounting Pronouncement

Recent Accounting Pronouncements (Notes)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTSThe Company considers the applicability and impact of Accounting Standards Updates ("ASUs"), and ASUs effective in or after 2023, respectively, which were assessed and determined to be either not applicable, or had or are expected to have minimal impact on the Company's consolidated financial statements and related disclosures.

Accounts Receivable, Net

Accounts Receivable, Net	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
ACCOUNTS RECEIVABLE, NET	ACCOUNTS RECEIVABLE, NET Accounts receivable consisted of the following (in thousands): March 31, 2023 December 31, 2022 Trade accounts receivable $ 189,281 $ 179,170 Costs in excess of billings 45,015 41,732 Total accounts receivables 234,296 220,902 Less allowance for doubtful accounts and contract assets (4,164) (3,746) Accounts receivable, net $ 230,132 $ 217,156 Refer to Note 4 "Revenue" concerning the Company's costs in excess of billings. The following table provides a roll-forward of the allowance for credit losses, for the three month period ended March 31, 2023, that is deducted from the amortized cost basis of accounts receivable to present the net amount expected to be collected (in thousands): Beginning balance as of January 1, 2023 $ 3,746 Bad debt expense, net of recoveries 260 Accounts written off against allowance and other adjustments 158 Ending balance as of March 31, 2023 $ 4,164

Revenue

Revenue	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue	REVENUE Sales includes revenue from contracts with customers for designing, engineering, manufacturing and installation of solar racking systems; electrical balance of systems; roof and foundation ventilation products; centralized mail systems and electronic package solutions; retractable awnings; gutter guards; rain dispersion products; trims and flashings and other accessories; designing, engineering, manufacturing and installation of greenhouses; structural bearings; expansion joints; pavement sealant; elastomeric concrete; and bridge cable protection systems. Refer to Note 14 "Segment Information" for additional information related to revenue recognized by timing of transfer of control by reportable segment. As of March 31, 2023, the Company's remaining performance obligations are part of contracts that have an original expected duration of one year or less. Contract assets consist of costs in excess of billings presented within accounts receivable in the Company's consolidated balance sheets. Contract liabilities consist of billings in excess of cost, classified as current liabilities, and unearned revenue, presented within accrued expenses, in the Company's consolidated balance sheets. Unearned revenue as of March 31, 2023 and December 31, 2022 was $7.8 million and $4.6 million, respectively. Revenue recognized during the three months ended March 31, 2023 and 2022 that was in contract liabilities at the beginning of the respective periods was $18.7 million and $27.4 million, respectively.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2023
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories consisted of the following (in thousands): March 31, 2023 December 31, 2022 Raw material $ 120,150 $ 111,187 Work-in-process 12,824 17,944 Finished goods 44,944 47,523 Gross inventory 177,918 176,654 Less reserves (6,284) (6,294) Total inventories, net $ 171,634 $ 170,360

Acquisition

Acquisition	3 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
ACQUISITION	ACQUISITION On August 22, 2022, the Company purchased all the issued and outstanding membership interests of Quality Aluminum Products ("QAP"), a manufacturer of aluminum and steel products including soffit, fascia, trim coil, rain carrying products and aluminum siding. The results of QAP have been included in the Company's consolidated financial results since the date of acquisition within the Company's Residential segment. The purchase consideration for the acquisition of QAP was $52.1 million, which includes a working capital adjustment and certain other adjustments provided for in the membership interest purchase agreement. The purchase price for the acquisition was allocated to the assets acquired and liabilities assumed based upon their respective fair values estimated as of the date of acquisition. The Company has completed the process to confirm the existence, condition, and completeness of the assets acquired and liabilities assumed to establish fair value of such assets and liabilities and to determine the amount of goodwill to be recognized as of the date of acquisition. The final determination of the fair value of certain assets and liabilities has been completed within a measurement period of up to one year from the date of acquisition. The excess consideration was recorded as goodwill and approximated $4.0 million, all of which is deductible for tax purposes. Goodwill represents future economic benefits arising from other assets acquired that could not be individually identified including workforce additions, growth opportunities, and increased presence in the domestic building products markets. The allocation of the purchase consideration to the estimated fair value of the assets acquired and liabilities assumed is as follows as of the date of the acquisition (in thousands): Cash $ 1,018 Working capital 23,372 Property, plant and equipment 8,486 Acquired intangible assets 14,700 Other assets 1,813 Other liabilities (1,295) Goodwill 3,991 Fair value of purchase consideration $ 52,085 The intangible assets acquired in this acquisition consisted of the following (in thousands): Fair Value Weighted-Average Amortization Period Trademarks $ 2,800 Indefinite Customer relationships 11,900 12 years Total $ 14,700 In determining the allocation of the purchase price to the assets acquired and liabilities assumed, the Company uses all available information to make fair value determinations using Level 3 unobservable inputs in which little or no market data exists, and therefore, engages independent valuation specialists to assist in the fair value determination of the acquired long-lived assets. The acquisition of QAP was financed primarily through borrowings under the Company's revolving credit facility.

Goodwill and Related Intangible

Goodwill and Related Intangible Assets	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND RELATED INTANGIBLE ASSETS	GOODWILL AND RELATED INTANGIBLE ASSETS Goodwill The changes in the carrying amount of goodwill for the three months ended March 31, 2023 are as follows (in thousands): Renewables Residential Agtech Infrastructure Total Balance at December 31, 2022 $ 188,030 $ 209,056 $ 83,599 $ 31,678 $ 512,363 Adjustments to prior year acquisitions — 387 — — 387 Foreign currency translation (141) — 30 — (111) Balance at March 31, 2023 $ 187,889 $ 209,443 $ 83,629 $ 31,678 $ 512,639 Goodwill is recognized net of accumulated impairment losses of $133.2 million as of March 31, 2023 and December 31, 2022, respectively. The Company is required to regularly assess whether a triggering event has occurred which would require interim impairment testing. The Company determined that no triggering event had occurred as of March 31, 2023 which would require an interim impairment test to be performed. Acquired Intangible Assets Acquired intangible assets consisted of the following (in thousands): March 31, 2023 December 31, 2022 Gross Accumulated Gross Accumulated Indefinite-lived intangible assets: Trademarks $ 55,500 $ — $ 55,500 $ — Finite-lived intangible assets: Trademarks 5,449 4,516 5,448 4,481 Unpatented technology 34,165 22,610 34,163 22,037 Customer relationships 115,027 48,609 115,125 46,557 Non-compete agreements 2,371 2,042 2,371 2,006 157,012 77,777 157,107 75,081 Total acquired intangible assets $ 212,512 $ 77,777 $ 212,607 $ 75,081 The following table summarizes the acquired intangible asset amortization expense for the three months ended March 31, (in thousands): 2023 2022 Amortization expense $ 2,766 $ 3,098 Amortization expense related to acquired intangible assets for the remainder of fiscal 2023 and the next five years thereafter is estimated as follows (in thousands): 2023 2024 2025 2026 2027 2028 Amortization expense $ 8,297 $ 10,883 $ 10,745 $ 9,338 $ 7,699 $ 6,832

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT Long-term debt consisted of the following (in thousands): March 31, 2023 December 31, 2022 Revolving credit facility $ 52,000 $ 91,000 Less unamortized debt issuance costs (2,124) (2,238) Total debt $ 49,876 $ 88,762 Revolving Credit Facility On December 8, 2022, the Company entered into a Credit Agreement (the "Credit Agreement"), and concurrently with entering into the Credit Agreement, the Company paid off all amounts owed under the Sixth Amended and Restated Credit Agreement dated as of January 24, 2019. The Credit Agreement provides for a revolving credit facility and letters of credit in an aggregate amount equal to $400 million. The Company can request additional financing to increase the revolving credit facility to $700 million or enter into a term loan of up to $300 million subject to conditions set forth in the Credit Agreement. The Credit Agreement contains two financial covenants. As of March 31, 2023, the Company was in compliance with all financial covenants. The Credit Agreement terminates on December 8, 2027. Borrowings under the Credit Agreement bear interest, at the Company’s option, at a rate equal to the applicable margin plus (a) a base rate, (b) a daily simple secured overnight financing rate ("SOFR") rate, (c) a term SOFR rate or (d) for certain foreign currencies, a foreign currency rate, in each case subject to a 0% floor. Through March 31, 2023, the Credit Agreement had an initial applicable margin of 0.125% for base rate loans and 1.125% for SOFR and alternative currency loans. Thereafter, the applicable margin ranges from 0.125% to 1.00% for base rate loans and from 1.125% to 2.00% for SOFR and alternative currency loans based on the Company’s Total Net Leverage Ratio, as defined in the Credit Agreement. In addition, the Credit Agreement is subject to an annual commitment fee, payable quarterly, which is initially 0.20% of the daily average undrawn balance of the revolving credit facility and, from and after April 1, 2023, ranges between 0.20% and 0.25% of the daily average undrawn balance of the revolving credit facility based on the Company’s Total Net Leverage Ratio. Borrowings under the Credit Agreement are secured by the trade receivables, inventory, personal property, equipment, and general intangibles of the Company’s significant domestic subsidiaries. Capital distributions are subject to certain Total Net Leverage Ratio requirements and capped by an annual aggregate limit under the Credit Agreement. For the three months ended March 31, 2022, interest rates on the revolving credit facility under the Sixth Amended and Restated Credit Agreement were based on LIBOR plus an additional margin that ranges from 1.125% to 2.00%. In addition, the revolving credit facility under the Sixth Amended and Restated Credit Agreement was subject to an undrawn commitment fee ranging between 0.15% and 0.25% based on the Total Leverage Ratio and the daily average undrawn balance. Standby letters of credit of $4.3 million have been issued under the Credit Agreement to third parties on behalf of the Company as of March 31, 2023. These letters of credit reduce the amount otherwise available under the revolving credit facility. The Company had $343.7 million and $304.5 million of availability under the revolving credit facility as of March 31, 2023 and December 31, 2022, respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following tables summarize the cumulative balance of each component of accumulated other comprehensive (loss) income, net of tax, for the three months ended March 31, (in thousands): Foreign Currency Translation Adjustment Minimum Post Retirement Benefit Plan Total Pre-Tax Amount Tax Benefit (Expense) Accumulated Other Balance at December 31, 2022 $ (3,382) $ (395) $ (3,777) $ (345) $ (3,432) Minimum post retirement health care plan adjustments — 11 11 3 8 Foreign currency translation adjustment (115) — (115) — (115) Balance at March 31, 2023 $ (3,497) $ (384) $ (3,881) $ (342) $ (3,539) Balance at December 31, 2021 $ 1,640 $ (2,247) $ (607) $ 794 $ 187 Minimum post retirement health care plan adjustments — 34 34 (10) 24 Foreign currency translation adjustment (227) — (227) — (227) Balance at March 31, 2022 $ 1,413 $ (2,213) $ (800) $ 784 $ (16) The realized adjustments relating to the Company’s minimum post retirement health care costs were reclassified from accumulated other comprehensive loss and included in other expense in the consolidated statements of income.

Equity-Based Compensation

Equity-Based Compensation	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]
EQUITY-BASED COMPENSATION	EQUITY-BASED COMPENSATION On May 4, 2022, the stockholders of the Company approved the adoption of the Gibraltar Industries, Inc. Amended and Restated 2016 Stock Plan for Non-Employee Directors ("Non-Employee Directors Plan") which increases the total number of shares for issuance by the Company thereunder from 100,000 shares to 200,000 shares, allows the Company to grant awards of shares of the Company's common stock to current non-employee Directors of the Company, and permits the Directors to defer receipt of such shares pursuant to the terms of the Non-Employee Directors Plan. On May 4, 2018, the stockholders of the Company approved the adoption of the Gibraltar Industries, Inc. 2018 Equity Incentive Plan (the "2018 Plan"). The 2018 Plan provides for the issuance of up to 1,000,000 shares of common stock and supplements the remaining shares available for issuance under the Gibraltar Industries, Inc. 2015 Equity Incentive Plan (the "2015 Plan"). Both the 2018 Plan and the 2015 Plan allow the Company to grant equity-based incentive compensation awards, in the form of non-qualified options, restricted shares, restricted stock units, performance shares, performance stock units, and stock rights to eligible participants. Equity Based Awards - Settled in Stock The following table sets forth the number of equity-based awards granted during the three months ended March 31, which will convert to shares upon vesting, along with the weighted average grant date fair values: 2023 2022 Awards Number of Weighted Number of Weighted Performance stock units (1) 81,611 $ 53.44 108,464 $ 47.00 Restricted stock units 46,646 $ 53.44 58,958 $ 47.00 (1) The Company’s performance stock units (“PSUs”) represent shares granted for which the final number of shares earned depends on financial performance. The number of shares to be issued may vary between 0% and 200% of the number of PSUs granted depending on the relative achievement to targeted thresholds. The Company's PSUs with a financial performance condition are based on the Company’s return on invested capital (“ROIC”) over a one-year performance period. (2) PSUs granted in the first quarter of 2022 includes 5,653 units that were forfeited in the first quarter of 2023 and 62,201 units that will be converted to shares and issued to recipients in the first quarter of 2025 at 60.5% of the target amount granted, based on the Company's actual ROIC compared to ROIC target for the performance period ended December 31, 2022. Equity Based Awards - Settled in Cash The Company's equity-based awards that are settled in cash are the awards under the Management Stock Purchase Plan (the “MSPP”) which is authorized under the Company's equity incentive plans. The MSPP provides participants the ability to defer a portion of their compensation, convertible to unrestricted investments, restricted stock units, or a combination of both, or defer a portion of their directors’ fees, convertible to restricted stock units. Employees eligible to defer a portion of their compensation also receive a company-matching award in restricted stock units equal to a percentage of their compensation. The deferrals and related company match are credited to an account that represents a share-based liability. The portion of the account deferred to unrestricted investments is measured at fair market value of the unrestricted investments, and the portion of the account deferred to restricted stock units and company-matching restricted stock units is measured at a 200-day average of the Company’s stock price. The account will be converted to and settled in cash payable to participants upon retirement or a termination of their service to the Company. Total MSPP liabilities recorded on the consolidated balance sheet as of March 31, 2023 was $15.9 million, of which $2.0 million was included in current accrued expenses and $13.9 million was included in non-current liabilities. Total MSPP liabilities recorded on the consolidated balance sheet as of December 31, 2022 was $15.4 million, of which $2.3 million was included in current accrued expenses and $13.1 million was included in non-current liabilities. The value of the restricted stock units within the MSPP liability were $13.7 million and $13.4 million at March 31, 2023 and December 31, 2022, respectively. The following table provides the number of restricted stock units credited to active participant accounts and the payments made with respect to MSPP liabilities during the three months ended March 31,: 2023 2022 Restricted stock units credited 41,743 2,876 MSPP liabilities paid (in thousands) $ 2,147 $ 2,545

Exit Activity Costs and Asset I

Exit Activity Costs and Asset Impairments	3 Months Ended
	Mar. 31, 2023
Restructuring and Related Activities [Abstract]
EXIT ACTIVITY COSTS AND ASSET IMPAIRMENTS	EXIT ACTIVITY COSTS AND ASSET IMPAIRMENTS The Company has incurred exit activity costs and asset impairment charges as a result of its 80/20 simplification and portfolio management initiatives. These initiatives have resulted in the identification of low-volume, low margin, internally-produced products which have been or will be outsourced or discontinued, the simplification of processes, the sale and exiting of less profitable businesses or product lines, and a reduction in the Company's manufacturing footprint. Exit activity costs (recoveries) were incurred during the three months ended March 31, 2023 and 2022 which related to moving and closing costs, and severance, along with asset impairment charges (recoveries) related to the write-down of inventory associated with discontinued product lines, as a result of process simplification initiatives. In conjunction with these initiatives, the Company recorded costs during the three months ended March 31, 2023 associated with the final closure and sale of a facility closed during the fourth quarter of 2022. During the three months ended March 31, 2022, the Company closed one facility as a result of these initiatives. The following tables set forth the exit activity costs (recoveries) and asset impairment charges (recoveries) incurred by segment during the three months ended March 31, related to the restructuring activities described above (in thousands): 2023 2022 Exit activity costs Asset impairment recovery Total Exit activity costs (recoveries), net Asset impairment charges Total Renewables $ — $ (63) $ (63) $ 1,328 $ 1,198 $ 2,526 Residential 114 — 114 3 — 3 Agtech 561 — 561 (9) — (9) Infrastructure — — — (63) — (63) Corporate — — — 20 — 20 Total $ 675 $ (63) $ 612 $ 1,279 $ 1,198 $ 2,477 The following table provides a summary of where the exit activity costs and asset impairment charges were recorded in the consolidated statements of income for the three months ended March 31, (in thousands): 2023 2022 Cost of sales $ 513 $ 2,208 Selling, general, and administrative expense 99 269 Total exit activity and asset impairment charges $ 612 $ 2,477 The following table reconciles the beginning and ending liability for exit activity costs relating to the Company’s facility consolidation efforts (in thousands): 2023 2022 Balance at January 1 $ 2,417 $ 272 Exit activity costs recognized 675 1,279 Cash payments (1,321) (116) Balance at March 31 $ 1,771 $ 1,435

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The following table summarizes the provision for income taxes for continuing operations (in thousands) for the three months ended March 31, and the applicable effective tax rates: 2023 2022 Provision for income taxes $ 7,177 $ 5,101 Effective tax rate 25.4 % 24.8 %

Earnings per Share

Earnings per Share	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Earnings per share and the weighted average shares outstanding used in calculating basic and diluted earnings per share are as follows for the three months ended March 31, (in thousands): 2023 2022 Numerator: Net income available to common stockholders $ 21,099 $ 15,456 Denominator for basic earnings per share: Weighted average shares outstanding 30,897 32,913 Denominator for diluted earnings per share: Weighted average shares outstanding 30,897 32,913 Common stock units 127 109 Weighted average shares and conversions 31,024 33,022 The weighted average number of diluted shares does not include potential anti-dilutive common shares issuable pursuant to equity based incentive compensation awards. The following table provides the potential anti-dilutive common stock units for the three months ended March 31, (in thousands): 2023 2022 Common stock units 64 54

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2023
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company is organized into four reportable segments on the basis of the production processes, products and services provided by each segment, identified as follows: (i) Renewables, which primarily includes designing, engineering, manufacturing and installation of solar racking and electrical balance of systems; (ii) Residential, which primarily includes roof and foundation ventilation products, centralized mail systems and electronic package solutions, retractable awnings and gutter guards, and rain dispersion products, trims and flashings and other accessories; (iii) Agtech, which provides growing solutions including the designing, engineering, manufacturing and installation of greenhouses; and (iv) Infrastructure, which primarily includes structural bearings, expansion joints and pavement sealant for bridges, airport runways and roadways, elastomeric concrete, and bridge cable protection systems. When determining the reportable segments, the Company aggregated operating segments based on their similar economic and operating characteristics. The following table illustrates certain measurements used by management to assess performance of the segments described above for the three months ended March 31, (in thousands): 2023 2022 Net sales: Renewables $ 59,205 $ 78,783 Residential 179,495 179,485 Agtech 35,852 42,428 Infrastructure 18,715 17,169 Total net sales $ 293,267 $ 317,865 Income from operations: Renewables $ 2,269 $ (6,984) Residential 29,509 33,435 Agtech 2,330 31 Infrastructure 2,714 1,181 Unallocated Corporate Expenses (7,452) (6,468) Total income from operations $ 29,370 $ 21,195 March 31, December 31, Total assets: Renewables $ 393,088 $ 392,368 Residential 535,423 519,567 Agtech 180,688 193,966 Infrastructure 82,795 80,264 Unallocated corporate assets 16,498 24,448 $ 1,208,492 $ 1,210,613 The following tables illustrate segment revenue disaggregated by timing of transfer of control to the customer for the three months ended March 31 (in thousands): Three Months Ended March 31, 2023 Renewables Residential Agtech Infrastructure Total Net sales: Point in Time $ 9,094 $ 177,942 $ 5,107 $ 6,061 $ 198,204 Over Time 50,111 1,553 30,745 12,654 95,063 Total net sales $ 59,205 $ 179,495 $ 35,852 $ 18,715 $ 293,267 Three Months Ended March 31, 2022 Renewables Residential Agtech Infrastructure Total Net sales: Point in Time $ 5,650 $ 178,131 $ 1,613 $ 6,303 $ 191,697 Over Time 73,133 1,354 40,815 10,866 126,168 Total net sales $ 78,783 $ 179,485 $ 42,428 $ 17,169 $ 317,865

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
Schedule of Accounts Receivable	Accounts receivable consisted of the following (in thousands): March 31, 2023 December 31, 2022 Trade accounts receivable $ 189,281 $ 179,170 Costs in excess of billings 45,015 41,732 Total accounts receivables 234,296 220,902 Less allowance for doubtful accounts and contract assets (4,164) (3,746) Accounts receivable, net $ 230,132 $ 217,156 The following table provides a roll-forward of the allowance for credit losses, for the three month period ended March 31, 2023, that is deducted from the amortized cost basis of accounts receivable to present the net amount expected to be collected (in thousands): Beginning balance as of January 1, 2023 $ 3,746 Bad debt expense, net of recoveries 260 Accounts written off against allowance and other adjustments 158 Ending balance as of March 31, 2023 $ 4,164

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2023
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following (in thousands): March 31, 2023 December 31, 2022 Raw material $ 120,150 $ 111,187 Work-in-process 12,824 17,944 Finished goods 44,944 47,523 Gross inventory 177,918 176,654 Less reserves (6,284) (6,294) Total inventories, net $ 171,634 $ 170,360

Acquisition (Tables)

Acquisition (Tables)	3 Months Ended
	Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Allocation of the Purchase Price Consideration of the Fair Value of Assets Acquired and Liabilities Assumed	The allocation of the purchase consideration to the estimated fair value of the assets acquired and liabilities assumed is as follows as of the date of the acquisition (in thousands): Cash $ 1,018 Working capital 23,372 Property, plant and equipment 8,486 Acquired intangible assets 14,700 Other assets 1,813 Other liabilities (1,295) Goodwill 3,991 Fair value of purchase consideration $ 52,085
Schedule of Acquired Intangible Assets	The intangible assets acquired in this acquisition consisted of the following (in thousands): Fair Value Weighted-Average Amortization Period Trademarks $ 2,800 Indefinite Customer relationships 11,900 12 years Total $ 14,700

Goodwill and Related Intangib_2

Goodwill and Related Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule Of Changes In Carrying Amount Of Goodwill	The changes in the carrying amount of goodwill for the three months ended March 31, 2023 are as follows (in thousands): Renewables Residential Agtech Infrastructure Total Balance at December 31, 2022 $ 188,030 $ 209,056 $ 83,599 $ 31,678 $ 512,363 Adjustments to prior year acquisitions — 387 — — 387 Foreign currency translation (141) — 30 — (111) Balance at March 31, 2023 $ 187,889 $ 209,443 $ 83,629 $ 31,678 $ 512,639
Schedule Of Acquired Intangible Assets	Acquired intangible assets consisted of the following (in thousands): March 31, 2023 December 31, 2022 Gross Accumulated Gross Accumulated Indefinite-lived intangible assets: Trademarks $ 55,500 $ — $ 55,500 $ — Finite-lived intangible assets: Trademarks 5,449 4,516 5,448 4,481 Unpatented technology 34,165 22,610 34,163 22,037 Customer relationships 115,027 48,609 115,125 46,557 Non-compete agreements 2,371 2,042 2,371 2,006 157,012 77,777 157,107 75,081 Total acquired intangible assets $ 212,512 $ 77,777 $ 212,607 $ 75,081
Schedule of Acquired Intangible Asset Amortization Expense	The following table summarizes the acquired intangible asset amortization expense for the three months ended March 31, (in thousands): 2023 2022 Amortization expense $ 2,766 $ 3,098
Schedule Of Amortization Expense	Amortization expense related to acquired intangible assets for the remainder of fiscal 2023 and the next five years thereafter is estimated as follows (in thousands): 2023 2024 2025 2026 2027 2028 Amortization expense $ 8,297 $ 10,883 $ 10,745 $ 9,338 $ 7,699 $ 6,832

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Debt	Long-term debt consisted of the following (in thousands): March 31, 2023 December 31, 2022 Revolving credit facility $ 52,000 $ 91,000 Less unamortized debt issuance costs (2,124) (2,238) Total debt $ 49,876 $ 88,762

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule Of Components Of Accumulated Other Comprehensive Income (Loss)	The following tables summarize the cumulative balance of each component of accumulated other comprehensive (loss) income, net of tax, for the three months ended March 31, (in thousands): Foreign Currency Translation Adjustment Minimum Post Retirement Benefit Plan Total Pre-Tax Amount Tax Benefit (Expense) Accumulated Other Balance at December 31, 2022 $ (3,382) $ (395) $ (3,777) $ (345) $ (3,432) Minimum post retirement health care plan adjustments — 11 11 3 8 Foreign currency translation adjustment (115) — (115) — (115) Balance at March 31, 2023 $ (3,497) $ (384) $ (3,881) $ (342) $ (3,539) Balance at December 31, 2021 $ 1,640 $ (2,247) $ (607) $ 794 $ 187 Minimum post retirement health care plan adjustments — 34 34 (10) 24 Foreign currency translation adjustment (227) — (227) — (227) Balance at March 31, 2022 $ 1,413 $ (2,213) $ (800) $ 784 $ (16)

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Schedule Of Number Of Awards And Weighted Average Grant Date Fair Value	The following table sets forth the number of equity-based awards granted during the three months ended March 31, which will convert to shares upon vesting, along with the weighted average grant date fair values: 2023 2022 Awards Number of Weighted Number of Weighted Performance stock units (1) 81,611 $ 53.44 108,464 $ 47.00 Restricted stock units 46,646 $ 53.44 58,958 $ 47.00 (1) The Company’s performance stock units (“PSUs”) represent shares granted for which the final number of shares earned depends on financial performance. The number of shares to be issued may vary between 0% and 200% of the number of PSUs granted depending on the relative achievement to targeted thresholds. The Company's PSUs with a financial performance condition are based on the Company’s return on invested capital (“ROIC”) over a one-year performance period.
Management Stock Purchase Plan	The following table provides the number of restricted stock units credited to active participant accounts and the payments made with respect to MSPP liabilities during the three months ended March 31,: 2023 2022 Restricted stock units credited 41,743 2,876 MSPP liabilities paid (in thousands) $ 2,147 $ 2,545

Exit Activity Costs and Asset_2

Exit Activity Costs and Asset Impairments (Tables)	3 Months Ended
	Mar. 31, 2023
Restructuring and Related Activities [Abstract]
Summary Of Exit Activity Costs And Asset Impairments	The following tables set forth the exit activity costs (recoveries) and asset impairment charges (recoveries) incurred by segment during the three months ended March 31, related to the restructuring activities described above (in thousands): 2023 2022 Exit activity costs Asset impairment recovery Total Exit activity costs (recoveries), net Asset impairment charges Total Renewables $ — $ (63) $ (63) $ 1,328 $ 1,198 $ 2,526 Residential 114 — 114 3 — 3 Agtech 561 — 561 (9) — (9) Infrastructure — — — (63) — (63) Corporate — — — 20 — 20 Total $ 675 $ (63) $ 612 $ 1,279 $ 1,198 $ 2,477 The following table provides a summary of where the exit activity costs and asset impairment charges were recorded in the consolidated statements of income for the three months ended March 31, (in thousands): 2023 2022 Cost of sales $ 513 $ 2,208 Selling, general, and administrative expense 99 269 Total exit activity and asset impairment charges $ 612 $ 2,477
Reconciliation Of Liability For Exit Activity Costs Relating To Facility Consolidation Efforts	The following table reconciles the beginning and ending liability for exit activity costs relating to the Company’s facility consolidation efforts (in thousands): 2023 2022 Balance at January 1 $ 2,417 $ 272 Exit activity costs recognized 675 1,279 Cash payments (1,321) (116) Balance at March 31 $ 1,771 $ 1,435

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Summary Of Provision For Income Taxes For Continuing Operations	The following table summarizes the provision for income taxes for continuing operations (in thousands) for the three months ended March 31, and the applicable effective tax rates: 2023 2022 Provision for income taxes $ 7,177 $ 5,101 Effective tax rate 25.4 % 24.8 %

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule Of Computation Of Basic And Diluted Loss Per Share	Earnings per share and the weighted average shares outstanding used in calculating basic and diluted earnings per share are as follows for the three months ended March 31, (in thousands): 2023 2022 Numerator: Net income available to common stockholders $ 21,099 $ 15,456 Denominator for basic earnings per share: Weighted average shares outstanding 30,897 32,913 Denominator for diluted earnings per share: Weighted average shares outstanding 30,897 32,913 Common stock units 127 109 Weighted average shares and conversions 31,024 33,022
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table provides the potential anti-dilutive common stock units for the three months ended March 31, (in thousands): 2023 2022 Common stock units 64 54

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2023
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Reconciliation Of Sales To Earnings Before Income Taxes by Segment	The following table illustrates certain measurements used by management to assess performance of the segments described above for the three months ended March 31, (in thousands): 2023 2022 Net sales: Renewables $ 59,205 $ 78,783 Residential 179,495 179,485 Agtech 35,852 42,428 Infrastructure 18,715 17,169 Total net sales $ 293,267 $ 317,865 Income from operations: Renewables $ 2,269 $ (6,984) Residential 29,509 33,435 Agtech 2,330 31 Infrastructure 2,714 1,181 Unallocated Corporate Expenses (7,452) (6,468) Total income from operations $ 29,370 $ 21,195 March 31, December 31, Total assets: Renewables $ 393,088 $ 392,368 Residential 535,423 519,567 Agtech 180,688 193,966 Infrastructure 82,795 80,264 Unallocated corporate assets 16,498 24,448 $ 1,208,492 $ 1,210,613
Disaggregation of Revenue	The following tables illustrate segment revenue disaggregated by timing of transfer of control to the customer for the three months ended March 31 (in thousands): Three Months Ended March 31, 2023 Renewables Residential Agtech Infrastructure Total Net sales: Point in Time $ 9,094 $ 177,942 $ 5,107 $ 6,061 $ 198,204 Over Time 50,111 1,553 30,745 12,654 95,063 Total net sales $ 59,205 $ 179,495 $ 35,852 $ 18,715 $ 293,267 Three Months Ended March 31, 2022 Renewables Residential Agtech Infrastructure Total Net sales: Point in Time $ 5,650 $ 178,131 $ 1,613 $ 6,303 $ 191,697 Over Time 73,133 1,354 40,815 10,866 126,168 Total net sales $ 78,783 $ 179,485 $ 42,428 $ 17,169 $ 317,865

Accounts Receivable, Net (Sched

Accounts Receivable, Net (Schedule of Receivables) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Trade accounts receivable	$ 189,281	$ 179,170
Costs in excess of billings	45,015	41,732
Total accounts receivables	234,296	220,902
Less allowance for doubtful accounts and contract assets	(4,164)	(3,746)
Accounts receivable, net	$ 230,132	$ 217,156

Accounts Receivable, Net (Sch_2

Accounts Receivable, Net (Schedule of Accounts Receivable Allowance for Credit Losses) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance as of January 1, 2023	$ 3,746
Bad debt expense, net of recoveries	260
Accounts written off against allowance and other adjustments	158
Ending balance as of March 31, 2023	$ 4,164

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unearned revenue	$ 7.8		$ 4.6
Revenue recognized that was in contract liabilities at the beginning of the period	$ 18.7	$ 27.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01 | Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation expected timing of satisfaction	1 year

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw material	$ 120,150	$ 111,187
Work-in-process	12,824	17,944
Finished goods	44,944	47,523
Gross inventory	177,918	176,654
Less reserves	(6,284)	(6,294)
Inventories, net	$ 171,634	$ 170,360

Acquisition (Narrative) (Detail

Acquisition (Narrative) (Details) - USD ($) $ in Thousands		3 Months Ended
	Aug. 22, 2022	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill		$ 512,639		$ 512,363
Selling, General and Administrative Expenses [Member]
Business Acquisition [Line Items]
Acquisition related costs		$ 21	$ 7
Quality Aluminum Products
Business Acquisition [Line Items]
Acquisition purchase price	$ 52,100
Goodwill	$ 3,991

Acquisition (Schedule of Alloca

Acquisition (Schedule of Allocation of the Purchase Price Consideration of the Fair Value of Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022	Aug. 22, 2022
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other			$ (1,295)
Goodwill	$ 512,639	$ 512,363
Quality Aluminum Products
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents			1,018
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Working Capital			23,372
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment			8,486
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill			14,700
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets			1,813
Goodwill			3,991
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net, Total			$ 52,085

Acquisition (Schedule of Acquir

Acquisition (Schedule of Acquired Intangible Assets) (Details) - Quality Aluminum Products $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired	$ 14,700
Trademarks
Business Acquisition [Line Items]
Indefinite-lived Intangible Assets Acquired	2,800
Customer relationships
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired	$ 11,900
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	12 years

Acquisition - Schedule of Acqui

Acquisition - Schedule of Acquisition Related Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Selling, General and Administrative Expenses [Member]
Business Acquisition [Line Items]
Acquisition related costs	$ 21	$ 7

Goodwill and Related Intangib_3

Goodwill and Related Intangible Assets (Schedule of Changes in Carrying Amount of Goodwill) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Goodwill [Roll Forward]
Balance at December 31, 2022	$ 512,363
Adjustments to prior year acquisitions	387
Foreign currency translation	(111)
Balance at March 31, 2023	512,639
Renewables
Goodwill [Roll Forward]
Balance at December 31, 2022	188,030
Adjustments to prior year acquisitions	0
Foreign currency translation	(141)
Balance at March 31, 2023	187,889
Residential
Goodwill [Roll Forward]
Balance at December 31, 2022	209,056
Adjustments to prior year acquisitions	387
Foreign currency translation	0
Balance at March 31, 2023	209,443
Agtech
Goodwill [Roll Forward]
Balance at December 31, 2022	83,599
Adjustments to prior year acquisitions	0
Foreign currency translation	30
Balance at March 31, 2023	83,629
Infrastructure
Goodwill [Roll Forward]
Balance at December 31, 2022	31,678
Adjustments to prior year acquisitions	0
Foreign currency translation	0
Balance at March 31, 2023	$ 31,678

Goodwill and Related Intangib_4

Goodwill and Related Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, accumulated impairment losses	$ 133.2	$ 133.2

Goodwill and Related Intangib_5

Goodwill and Related Intangible Assets (Schedule of Acquired Intangible Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount, Finite-lived intangible assets	$ 157,012	$ 157,107
Total acquired intangible assets, Gross Carrying Amount	212,512	212,607
Accumulated Amortization, Finite-lived intangible assets	77,777	75,081
Total acquired intangible assets, Accumulated Amortization	77,777	75,081
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount, Finite-lived intangible assets	5,449	5,448
Accumulated Amortization, Finite-lived intangible assets	4,516	4,481
Unpatented technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount, Finite-lived intangible assets	34,165	34,163
Accumulated Amortization, Finite-lived intangible assets	22,610	22,037
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount, Finite-lived intangible assets	115,027	115,125
Accumulated Amortization, Finite-lived intangible assets	48,609	46,557
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount, Finite-lived intangible assets	2,371	2,371
Accumulated Amortization, Finite-lived intangible assets	2,042	2,006
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount, Indefinite-lived intangible assets	55,500	55,500
Accumulated Amortization, Indefinite-lived intangible assets	$ 0	$ 0

Goodwill and Related Intangib_6

Goodwill and Related Intangible Assets - Schedule of Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 2,766	$ 3,098

Goodwill and Related Intangib_7

Goodwill and Related Intangible Assets (Schedule of Amortization Expense) (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 8,297
2024	10,883
2025	10,745
2026	9,338
2027	7,699
2028	$ 6,832

Long-Term Debt (Schedule of Lon

Long-Term Debt (Schedule of Long-term Debt) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Less unamortized debt issuance costs	$ (2,124)	$ (2,238)
Total debt	49,876	88,762
Line of Credit | Revolving credit facility
Debt Instrument [Line Items]
Long term debt gross	$ 52,000	$ 91,000

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details)			3 Months Ended
	Dec. 08, 2022 debtCovenant	Jan. 24, 2019 USD ($)	Mar. 31, 2022	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
2022 Senior Credit Agreement | Applicable rate through March 31, 2023
Debt Instrument [Line Items]
Annual commitment fee (as a percentage)	0.20%
2022 Senior Credit Agreement | Applicable rate through March 31, 2023 | Base Rate
Debt Instrument [Line Items]
Initial applicable margin	0.125%
2022 Senior Credit Agreement | Applicable rate through March 31, 2023 | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Initial applicable margin	1.125%
2022 Senior Credit Agreement | Applicable rate after April 1, 2023 | Base Rate | Minimum
Debt Instrument [Line Items]
Initial applicable margin	0.125%
2022 Senior Credit Agreement | Applicable rate after April 1, 2023 | Base Rate | Maximum
Debt Instrument [Line Items]
Initial applicable margin	1%
2022 Senior Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Number of debt covenants | debtCovenant	2
Revolving credit facility | Line of Credit
Debt Instrument [Line Items]
Current borrowing capacity		$ 400,000,000
Letters of credit issued		$ 700,000,000
Revolving credit facility | Line of Credit | Minimum
Debt Instrument [Line Items]
Annual commitment fee		0.20%	0.15%
Revolving credit facility | Line of Credit | Maximum
Debt Instrument [Line Items]
Annual commitment fee		0.25%	0.25%
Revolving credit facility | Line of Credit | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
LIBOR floor, plus		1.125%	1.125%
Revolving credit facility | Line of Credit | London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
LIBOR floor, plus		2%	2%
Revolving credit facility | Medium-term Notes
Debt Instrument [Line Items]
Term loan (up to)		$ 300,000,000
Senior Credit Agreement | Standby Letters of Credit
Debt Instrument [Line Items]
Letters of credit issued				$ 4,300,000
Senior Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility, availability amount				$ 343,700,000	$ 304,500,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
AOCI before tax, beginning balance	$ (3,777)		$ (607)
Accumulated other comprehensive income, tax, beginning balance	(345)		794
Accumulated other comprehensive income, beginning balance	(3,432)		187
Other comprehensive income (loss), net of tax	(107)		(203)
AOCI before tax, ending balance		$ (3,881)		$ (800)
Accumulated other comprehensive income, tax, ending balance		(342)		784
Accumulated other comprehensive income, ending balance	(3,539)	(3,539)		(16)
Accumulated Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
AOCI before tax, beginning balance	(3,382)		1,640
Other comprehensive income adjustments		(115)		(227)
Tax benefit (expense)		0
Other comprehensive income (loss), net of tax		(115)		(227)
AOCI before tax, ending balance		(3,497)		1,413
Accumulated Defined Benefit Plans Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income adjustments		11		34
Tax benefit (expense)		3		(10)
Other comprehensive income (loss), net of tax		8		24
Minimum Post Retirement Benefit Plan Adjustments | Accumulated Defined Benefit Plans Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
AOCI before tax, beginning balance	$ (395)		$ (2,247)
Other comprehensive income adjustments		11		34
AOCI before tax, ending balance		$ (384)		$ (2,213)

Equity-Based Compensation (Ince

Equity-Based Compensation (Incentive Plan) (Details) - Common Stock - shares	May 04, 2022	May 03, 2022	May 04, 2018
Non-Employee Directors Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	200,000	100,000
2018 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)			1,000,000

Equity-Based Compensation (Sche

Equity-Based Compensation (Schedule of Number of Awards and Weighted Average Grant Date Fair Value) (Details) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
To be converted to shares (in units)	62,201
Target amount granted, as a percentage	60.50%
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards (in shares)	81,611	108,464
Weighted average grant date fair value (in USD per share)	$ 53.44	$ 47
Forfeited in period (in shares)	5,653
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards (in shares)	46,646	58,958
Weighted average grant date fair value (in USD per share)	$ 53.44	$ 47
Minimum | Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants based on targeted thresholds, percent	0%
Maximum | Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants based on targeted thresholds, percent	200%
Return on Invested Capital | 2018 Plan | Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period	1 year

Equity-Based Compensation (Equi

Equity-Based Compensation (Equity Based Awards - Settled in Cash) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accrued equity based compensation	$ 15,900,000		$ 15,400,000
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accrued equity based compensation	13,700,000		13,400,000
Non Current Liabilities
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accrued equity based compensation	13,900,000		13,100,000
Accrued Expenses, Current
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accrued equity based compensation	2,000,000		$ 2,300,000
Management Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
MSPP liabilities paid (in thousands)	$ 2,147,000	$ 2,545,000
Management Stock Purchase Plan | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average company stock price measurement period	200 days
Restricted stock units credited (in shares)	$ 41,743	$ 2,876

Exit Activity Costs and Asset_3

Exit Activity Costs and Asset Impairments (Narrative) (Details)	3 Months Ended
	Mar. 31, 2022 facility
Restructuring and Related Activities [Abstract]
Number of facilities closed	1

Exit Activity Costs and Asset_4

Exit Activity Costs and Asset Impairments (Summary of Exit Activity Costs and Asset Impairments by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Restructuring Cost and Reserve [Line Items]
Exit activity costs	$ 675	$ 1,279
Asset impairment recovery	(63)	1,198
Total	612	2,477
Renewables
Restructuring Cost and Reserve [Line Items]
Exit activity costs	0	1,328
Asset impairment recovery	(63)	1,198
Total	(63)	2,526
Residential
Restructuring Cost and Reserve [Line Items]
Exit activity costs	114	3
Asset impairment recovery	0	0
Total	114	3
Agtech
Restructuring Cost and Reserve [Line Items]
Exit activity costs	561	(9)
Asset impairment recovery	0	0
Total	561	(9)
Infrastructure
Restructuring Cost and Reserve [Line Items]
Exit activity costs	0	(63)
Asset impairment recovery	0	0
Total	0	(63)
Corporate
Restructuring Cost and Reserve [Line Items]
Exit activity costs	0	20
Asset impairment recovery	0	0
Total	$ 0	$ 20

Exit Activity Costs and Asset_5

Exit Activity Costs and Asset Impairments (Summary of Exit Activity Costs and Asset Impairments) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Restructuring Cost and Reserve [Line Items]
Total	$ 612	$ 2,477
Exit activity costs	675	1,279
Cost of sales
Restructuring Cost and Reserve [Line Items]
Total	513	2,208
Selling, general, and administrative expense
Restructuring Cost and Reserve [Line Items]
Total	$ 99	$ 269

Exit Activity Costs and Asset_6

Exit Activity Costs and Asset Impairments (Reconciles of Liability for Exit Activity Costs Relating to Facility Consolidation Efforts) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Restructuring Reserve [Roll Forward]
Beginning balance	$ 2,417	$ 272
Exit activity costs	675	1,279
Cash payments	(1,321)	(116)
Ending balance	$ 1,771	$ 1,435

Income Taxes (Provision For Inc

Income Taxes (Provision For Income Taxes For Continuing Operations) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 7,177	$ 5,101
Effective tax rate	25.40%	24.80%

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Federal statutory income tax rate	21%	21%

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income available to common stockholders	$ 21,099	$ 15,456
Diluted (in shares)	30,897,000	32,913,000
Common stock options and restricted stock (in shares)	127,000	109,000
Weighted average shares outstanding, diluted (in shares)	31,024,000	33,022,000
Common shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from earnings per share calculation (in shares)	64,000	54,000

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) segment	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)
Segment Reporting, Other Significant Reconciling Item [Line Items]
Number of reportable segments | segment	4
Net sales	$ 293,267	$ 317,865
Total consolidated income from operations	29,370	21,195
Total assets	1,208,492		$ 1,210,613
Renewables
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net sales	59,205	78,783
Residential
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net sales	179,495	179,485
Agtech
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net sales	35,852	42,428
Infrastructure
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net sales	18,715	17,169
Operating Segments | Renewables
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net sales	59,205	78,783
Total consolidated income from operations	2,269	(6,984)
Total assets	393,088		392,368
Operating Segments | Residential
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net sales	179,495	179,485
Total consolidated income from operations	29,509	33,435
Total assets	535,423		519,567
Operating Segments | Agtech
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net sales	35,852	42,428
Total consolidated income from operations	2,330	31
Total assets	180,688		193,966
Operating Segments | Infrastructure
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net sales	18,715	17,169
Total consolidated income from operations	2,714	1,181
Total assets	82,795		80,264
Corporate
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total consolidated income from operations	(7,452)	$ (6,468)
Total assets	$ 16,498		$ 24,448

Segment Information - Disaggreg

Segment Information - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Net sales	$ 293,267	$ 317,865
Renewables
Disaggregation of Revenue [Line Items]
Net sales	59,205	78,783
Residential
Disaggregation of Revenue [Line Items]
Net sales	179,495	179,485
Agtech
Disaggregation of Revenue [Line Items]
Net sales	35,852	42,428
Infrastructure
Disaggregation of Revenue [Line Items]
Net sales	18,715	17,169
Point in Time
Disaggregation of Revenue [Line Items]
Net sales	198,204	191,697
Point in Time | Renewables
Disaggregation of Revenue [Line Items]
Net sales	9,094	5,650
Point in Time | Residential
Disaggregation of Revenue [Line Items]
Net sales	177,942	178,131
Point in Time | Agtech
Disaggregation of Revenue [Line Items]
Net sales	5,107	1,613
Point in Time | Infrastructure
Disaggregation of Revenue [Line Items]
Net sales	6,061	6,303
Over Time
Disaggregation of Revenue [Line Items]
Net sales	95,063	126,168
Over Time | Renewables
Disaggregation of Revenue [Line Items]
Net sales	50,111	73,133
Over Time | Residential
Disaggregation of Revenue [Line Items]
Net sales	1,553	1,354
Over Time | Agtech
Disaggregation of Revenue [Line Items]
Net sales	30,745	40,815
Over Time | Infrastructure
Disaggregation of Revenue [Line Items]
Net sales	$ 12,654	$ 10,866