Quarterly report [Sections 13 or 15(d)]

Discontinued Operations (Tables)

v3.26.1
Discontinued Operations (Tables)
 6 Months Ended
Jun. 30, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Major Components of Discontinued Operations
The following table presents the major classes of assets and liabilities of discontinued operations (in thousands):
T&D Transaction Pressure Pumping Transaction Engineering Transaction
June 30, December 31, June 30, December 31, June 30, December 31,
2026 2025 2026 2025 2026 2025
Carrying amounts of the major classes of assets included in discontinued operations:
Cash and cash equivalents $ —  $ —  $ 55  $ 50  $ —  $ — 
Accounts receivable, net —  —  1,003  1,036  —  — 
Inventories —  —  264  264  —  — 
Other current assets —  —  12  168  —  — 
Total current assets of discontinued operations —  —  1,334  1,518  —  — 
Property, plant and equipment, net —  —  6  3,678  —  — 
Total noncurrent assets of discontinued operations —  —  6  3,678  —  — 
Total assets of discontinued operations $ —  $ —  $ 1,340  $ 5,196  $ —  $ — 
Carrying amounts of the major classes of liabilities included in discontinued operations:
Accounts payable $ —  $ —  $ 76  $ 41  $ —  $ — 
Accrued expenses and other current liabilities —  —  222  342  —  — 
Total current liabilities of discontinued operations —  —  298  383  —  — 
Total liabilities of discontinued operations $ —  $ —  $ 298  $ 383  $ —  $ — 
The following tables present the major components from discontinued operations in the Company’s unaudited condensed consolidated statements of operations and comprehensive income (loss) (in thousands):
T&D Transaction Pressure Pumping Transaction Engineering Transaction
Three Months Ended June 30, Three Months Ended June 30, Three Months Ended June 30,
2026 2025 2026 2025 2026 2025
Services revenue $ —  $ 3,502  $ —  $ 20,887  $ —  $ 4,055 
COST, EXPENSES AND GAINS
Cost of revenue (15) 3,831  (488) 20,660  —  2,942 
Selling, general and administrative 25  374  7  666  —  382 
Depreciation and amortization —  96  —  2,614  —  6 
Gains on disposal of assets, net —  146  —  (256) —  — 
Impairment of goodwill —  —  —  9,214  —  — 
Total cost, expenses and gains, net 10  4,447  (481) 32,898  —  3,330 
Operating (loss) income (10) (945) 481  (12,011) —  725 
OTHER (INCOME) EXPENSE
Interest expense (income), net —  3  6  (368) —  (107)
Other (income) expense, net —  (127) —  2  —  1 
(Gain) loss on divestiture —  (83,747) —  24,974  27  — 
Total other expense (income), net —  (83,871) 6  24,608  27  (106)
(Loss) income before income taxes (10) 82,926  475  (36,619) (27) 831 
Provision (benefit) for income taxes —  3,028  —  (1,262) —  1 
Net (loss) income from discontinued operations, net of income taxes $ (10) $ 79,898  $ 475  $ (35,357) $ (27) $ 830 
T&D Transaction Pressure Pumping Transaction Engineering Transaction
Six Months Ended June 30, Six Months Ended June 30, Six Months Ended June 30,
2026 2025 2026 2025 2026 2025
Services revenue $ —  $ 29,553  $ —  $ 41,709  $ —  $ 8,018 
COST, EXPENSES AND GAINS
Cost of revenue (14) 25,378  (299) 39,507  —  5,874 
Selling, general and administrative 77  1,846  70  1,242  —  759 
Depreciation and amortization —  957  3  5,704  —  13 
Gains on disposal of assets, net —  (20) (855) (637) —  — 
Impairment of goodwill —  —  —  9,214  —  — 
Total cost, expenses and gains, net 63  28,161  (1,081) 55,030  —  6,646 
Operating (loss) income (63) 1,392  1,081  (13,321) —  1,372 
OTHER (INCOME) EXPENSE
Interest expense (income), net —  59  50  (465) —  (130)
Other (income) expense, net —  (122) 1  3  —  1 
(Gain) loss on divestiture —  (83,747) —  24,974  27  — 
Total other expense (income), net —  (83,810) 51  24,512  27  (129)
(Loss) income before income taxes (63) 85,202  1,030  (37,833) (27) 1,501 
Provision (benefit) for income taxes —  3,050  —  (1,262) —  1 
Net (loss) income from discontinued operations, net of income taxes $ (63) $ 82,152  $ 1,030  $ (36,571) $ (27) $ 1,500