v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income $ 85,940 $ 45,211
Adjustments to reconcile net income to net cash, cash equivalents and restricted cash provided by operating activities:    
Depreciation, depletion, accretion and amortization 135,278 107,741
Amortization of deferred debt issuance costs 2,004 3,379
Provision for bad debt 556 260
Gain on sale of property, plant and equipment (12,557) (8,437)
Realized loss on sales, calls and maturities of restricted investments 18 81
Share-based compensation expense 31,195 27,961
Distribution of earnings from investment in joint venture 71 0
Loss from investment in joint venture 1 12
Deferred income tax expense (benefit) 22,658 (300)
Other non-cash adjustments (617) (665)
Changes in operating assets and liabilities, net of business acquisitions:    
Contracts receivable including retainage (13,859) 6,159
Costs and estimated earnings in excess of billings on uncompleted contracts (11,298) (22,577)
Inventories (18,279) (4,880)
Prepaid expenses and other current assets (1,905) 5,422
Other assets 1,496 (3,119)
Accounts payable 16,028 15,975
Billings in excess of costs and estimated earnings on uncompleted contracts 8,510 (9,481)
Accrued expenses and other current liabilities (578) 17,543
Other long-term liabilities (3,803) (967)
Net cash provided by operating activities, net of business acquisitions 240,859 179,318
Cash flows from investing activities:    
Purchases of property, plant and equipment (144,239) (104,886)
Proceeds from sale of property, plant and equipment 24,398 11,250
Proceeds from sales, calls and maturities of restricted investments 16,022 8,351
Business acquisitions, net of cash acquired (337,429) (935,663)
Purchase of restricted investments (3,753) (12,182)
Net cash used in investing activities (445,001) (1,033,130)
Cash flows from financing activities:    
Proceeds from revolving credit facility 263,500 218,438
Proceeds from issuance of long-term debt, net of debt issuance costs 294,923 833,524
Settlement of stock awards (2,490) 0
Repayments of long-term debt (386,375) (137,726)
Purchase of treasury stock (29,772) (20,803)
Net cash provided by financing activities 139,786 893,433
Net change in cash, cash equivalents and restricted cash (64,356) 39,621
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 94,659 116,305
Supplemental cash flow information:    
Cash paid for interest 80,230 58,151
Cash paid for income taxes 5,204 3,576
Cash paid for operating lease liabilities 23,315 11,699
Non-cash items:    
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 47,180 17,620
Property, plant and equipment financed with accounts payable 9,849 5,693
Amounts payable to sellers in business combinations, net $ 673 $ 64,938