v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 19,978 $ 20,589
Reconciliation of net income to net cash provided by operating activities:    
Depreciation 2,946 2,316
Amortization of intangibles and finance lease assets 9,105 6,818
Amortization of debt issuance costs 1,129 965
Loss (gain) on sale of property and equipment 455 (325)
Provision for (recovery of) credit losses 279 (1,322)
Fair value adjustment on contingent consideration 239 183
Restricted stock compensation expense 1,802 1,317
Deferred income taxes 2,945 3,943
Other non-cash items (2,140) (6,100)
Changes in operating assets and liabilities, net of effects of businesses acquired:    
Accounts receivable (2,775) (13,202)
Costs and estimated profits in excess of billings (1,096) 2,893
Inventories (7,654) (3,525)
Prepaid expenses and other assets 4,991 (2,369)
Trade accounts payable 904 6,505
Accrued expenses (7,864) (3,569)
Billings in excess of costs and estimated profits 3,531 6,764
Income taxes 2,794 (18,908)
Net cash provided by operating activities 29,569 2,973
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (3,294) (19,914)
Proceeds from the sale of property and equipment 9 2,699
Acquisition of businesses, net of cash acquired (102,702) (12,850)
Net cash used in investing activities (105,987) (30,065)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Principal debt payments (2,120) (1,624)
Debt issuance costs (125) (125)
Payment for acquisition contingent consideration liability (2,250) (3,820)
Preferred stock dividends paid (23) (23)
Payment for employee taxes withheld from stock awards (6,535) (126)
Principal payments on finance leases (2,063) (1,365)
Net cash used in financing activities (13,116) (7,083)
Effect of foreign currency on cash (868) 47
Net change in cash and restricted cash (90,402) (34,128)
Cash and restricted cash at beginning of period 303,783 148,411
Cash and restricted cash at end of period $ 213,381 $ 114,283