v3.26.1
Revenue (Tables)
6 Months Ended
Jun. 30, 2026
Revenue  
Schedule of revenue by segment

Three Months Ended

Six Months Ended

(Amounts in thousands)

June 30, 2026

  ​ ​ ​

June 30, 2025

 

June 30, 2026

  ​ ​ ​

June 30, 2025

 

  ​ ​ ​

% of Total 

% of Total

  ​ ​ ​

% of Total 

  ​ ​ ​

  ​ ​ ​

% of Total

 

Segment

Revenue

 

Revenue

 

Revenue

  ​ ​ ​

 Revenue

Revenue

Revenue

Revenue

 Revenue

 

Civil

$

40,987

 

36.2

%  

$

81,530

 

37.9

%

$

144,779

 

50.7

%  

$

184,446

 

40.5

%

Transportation

 

72,319

 

63.8

%  

 

133,852

 

62.1

%

 

140,932

 

49.3

%  

 

270,422

 

59.5

%

Total revenue

$

113,306

 

100.0

%  

$

215,382

 

100.0

%

$

285,711

 

100.0

%  

$

454,868

 

100.0

%

Schedule of cost of construction by segment

Three Months Ended

Six Months Ended

(Amounts in thousands)

June 30, 2026

  ​ ​ ​

June 30, 2025

 

June 30, 2026

  ​ ​ ​

June 30, 2025

 

  ​ ​ ​

% of Total

% of Total

  ​ ​ ​

% of Total

  ​ ​ ​

  ​ ​ ​

% of Total

 

Cost of

Cost of

Cost of

Cost of

Cost of

Cost of

Cost of

Cost of

Segment

Construction

 

Construction

 

Construction

  ​ ​ ​

Construction

Construction

Construction

Construction

Construction

 

Civil

$

68,061

 

36.9

%  

$

67,273

 

33.2

%

$

157,201

 

43.5

%  

$

147,680

 

35.0

%

Transportation

 

116,478

 

63.1

%  

 

135,141

 

66.8

%

 

204,499

 

56.5

%  

 

273,741

 

65.0

%

Total cost of construction

$

184,539

 

100.0

%  

$

202,414

 

100.0

%

$

361,700

 

100.0

%  

$

421,421

 

100.0

%

Schedule of gross profit (loss) by segment

Three Months Ended

 

Six Months Ended

(Amounts in thousands)

June 30, 2026

  ​ ​ ​

June 30, 2025

 

June 30, 2026

  ​ ​ ​

June 30, 2025

 

  ​ ​ ​

% of Segment 

  ​ ​ ​

  ​ ​ ​

% of Segment 

 

  ​ ​ ​

% of Segment 

  ​ ​ ​

  ​ ​ ​

% of Segment 

 

Segment

Gross Loss

Revenue

Gross Profit

Revenue

 

Gross Loss

Revenue

Gross Profit

Revenue

 

Civil

$

(27,074)

 

(66.1)

%  

$

14,257

 

17.5

%

$

(12,422)

 

(8.6)

%  

$

36,766

 

19.9

%

Transportation

 

(44,159)

 

(61.1)

%  

 

(1,289)

 

(1.0)

%

 

(63,567)

 

(45.1)

%  

 

(3,319)

 

(1.2)

%

Gross profit (loss)

$

(71,233)

 

(62.9)

%  

$

12,968

 

6.0

%

$

(75,989)

 

(26.6)

%  

$

33,447

 

7.4

%

Schedule of reconciliation of segment gross profit (loss)

Three Months Ended

  ​ ​ ​

Six Months Ended

(Amounts in thousands)

June 30, 2026

  ​ ​ ​

June 30, 2025

  ​ ​ ​

June 30, 2026

  ​ ​ ​

June 30, 2025

Gross profit (loss) from segments

 

(71,233)

 

12,968

 

(75,989)

 

33,447

Selling, general, and administrative expenses

 

16,705

 

13,572

 

31,648

 

30,037

Total operating income (loss)

(87,938)

(604)

(107,637)

3,410

Gain on investments, net

 

67

 

59

 

214

 

76

Other income, net

 

6,447

 

577

 

6,521

 

2,321

Interest expense

 

(7,336)

 

(9,983)

 

(16,017)

 

(18,857)

Losses before income taxes

$

(88,760)

$

(9,951)

$

(116,919)

$

(13,050)