v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:    
Net income (loss) $ 17,205 $ (3,051)
Adjustments to reconcile net income to net cash, cash equivalents and restricted cash provided by operating activities:    
Depreciation, depletion, accretion and amortization 45,030 31,184
Amortization of deferred debt issuance costs 667 495
Provision for bad debt 141 92
Gain on sale of property, plant and equipment (2,039) (1,055)
Realized loss on restricted investments 9 19
Share-based compensation expense 14,882 14,403
Distribution of earnings from investment in joint venture 71 0
Loss (earnings) from investment in joint venture 1 (1)
Deferred income tax benefit (789) (1,411)
Other non-cash adjustments (74) (229)
Changes in operating assets and liabilities:    
Contracts receivable including retainage 127,022 62,560
Costs and estimated earnings in excess of billings on uncompleted contracts (10,675) (5,767)
Inventories (3,334) (10,434)
Prepaid expenses and other current assets (14,134) (143)
Other assets 2,137 410
Accounts payable (74,938) (47,490)
Billings in excess of costs and estimated earnings on uncompleted contracts 6,926 6,302
Accrued expenses and other current liabilities (18,704) (6,554)
Other long-term liabilities (6,837) 1,333
Net cash provided by operating activities, net of acquisitions 82,567 40,663
Cash flows from investing activities:    
Purchases of property, plant and equipment (35,470) (26,832)
Proceeds from sale of property, plant and equipment 5,546 1,843
Proceeds from sale of restricted investments 3,713 2,417
Purchases of restricted investments (1,540) (2,258)
Business acquisitions, net of cash acquired (215,102) (654,200)
Net cash used in investing activities (242,853) (679,030)
Cash flows from financing activities:    
Proceeds from revolving credit facility 140,000 0
Proceeds from issuance of long-term debt, net of debt issuance costs and discount 0 834,995
Repayments of long-term debt (9,625) (128,163)
Settlement of stock awards (2,490) 0
Purchase of treasury stock (22,424) (12,081)
Net cash provided by financing activities 105,461 694,751
Net change in cash, cash equivalents and restricted cash (54,825) 56,384
Cash, cash equivalents and restricted cash:    
Cash, cash equivalents and restricted cash, beginning of period 159,015 76,684
Cash, cash equivalents and restricted cash, end of period 104,190 133,068
Supplemental cash flow information:    
Cash paid for interest 26,365 15,051
Cash paid for operating lease liabilities 6,805 3,233
Non-cash items:    
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 21,742 3,961
Property, plant and equipment financed with accounts payable 12,178 3,964
Issuance of stock for business acquisition 51,500 236,250
Amounts payable to sellers in business combination $ 3,596 $ 86,000