Business Acquisitions (Tables)

The following table summarizes the consideration for the acquisitions and the provisional amounts of identified assets acquired and liabilities assumed as of June 30, 2026 (unaudited, in thousands):


	VMC		P&S		GMJ		Four Star		Total
Cash and cash equivalents	$	—	$	107	$	—	$	—	$	107
Contracts receivable including retainage	—		15,831		8,894		5,557		30,282
Costs and estimated earnings in excess of billings on uncompleted contracts	88		753		2,253		1,117		4,211
Inventories	10,790		751		320		—		11,861
Prepaid expenses and other current assets	—		285		—		—		285
Property, plant and equipment	59,915		44,129		16,801		15,397		136,242
Operating lease right-of-use assets	797		—		817		—		1,614
Intangible assets	1,000		250		—		—		1,250
Total assets	72,590		62,106		29,085		22,071		185,852

Accounts payable	—		6,025		7,052		3,237		16,314
Billings in excess of costs and estimated earnings on uncompleted contracts	1,397		8,051		1,594		485		11,527
Accrued expenses and other current liabilities	1,279		1,567		274		615		3,735
Operating lease liabilities	797		—		817		—		1,614
Total liabilities	3,473		15,643		9,737		4,337		33,190

Goodwill	38,607		98,287		18,680		40,931		196,505

Total cash consideration transferred	107,724		93,291		37,903		58,117		297,035
Fair value of Class A common stock transferred	—		51,459		—		—		51,459
Total consideration payable	—		—		125		548		673
Total purchase price	$	107,724	$	144,750	$	38,028	$	58,665	$	349,167

The following tables present pro forma revenues and net income as though the acquisitions had occurred on October 1, 2024 (unaudited, in thousands):


	For the Three Months Ended June 30,
	2026		2025
Pro forma revenues	$	999,418	$	914,087
Pro forma net income	$	60,556	$	53,763


	For the Nine Months Ended June 30,
	2026		2025
Pro forma revenues	$	2,606,692	$	2,422,670
Pro forma net income	$	98,847	$	95,286