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Reportable Segment Information
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Reportable Segment Information Reportable Segment Information
We manage our operations under two reportable segments, Construction and Materials, which are distinguished by differences in business activities. Our reportable segments are the same as our operating segments and correspond with how our chief operating decision maker, or decision-making group (our “CODM”) regularly reviews financial information to allocate resources and assess performance. We identified our CODM as our Chief Executive Officer (“CEO”).
We previously identified our CODM as our CEO and Chief Operating Officer (“COO”). Following our COO's retirement on July 4, 2025, our CEO assumed sole responsibility as the CODM. This change did not impact our reportable segments for the current period.
Our CODM evaluates segment performance and makes business decisions based on operating income, which excludes non-operating income or expense. Segment assets include property and equipment, intangibles, goodwill, inventory and equity in construction joint ventures.
Summarized segment information is as follows (in thousands):
Three months ended September 30,ConstructionMaterialsTotal
2025
Total revenue from reportable segments$1,162,513 $376,559 $1,539,072 
Elimination of intersegment revenue— (105,574)(105,574)
Revenue1,162,513 270,985 1,433,498 
Cost of revenue970,167 202,783 1,172,950 
Gross profit192,346 68,202 260,548 
Selling, general and administrative expenses52,390 9,974 62,364 
(Gain) loss on sales of property and equipment, net(2,298)1,156 (1,142)
Operating income from reportable segments$142,254 $57,072 $199,326 
Depreciation, depletion and amortization$27,935 $18,894 $46,829 
2024
Total revenue from reportable segments$1,080,705 $297,398 $1,378,103 
Elimination of intersegment revenue— (102,593)(102,593)
Revenue1,080,705 194,805 1,275,510 
Cost of revenue910,020 162,541 1,072,561 
Gross profit170,685 32,264 202,949 
Selling, general and administrative expenses47,526 8,117 55,643 
Gain on sales of property and equipment, net(1,424)(66)(1,490)
Operating income from reportable segments$124,583 $24,213 $148,796 
Depreciation, depletion and amortization$16,979 $11,685 $28,664 
Nine Months Ended September 30,ConstructionMaterialsTotal
2025
Total revenue from reportable segments$2,714,557 $733,995 $3,448,552 
Elimination of intersegment revenue— (189,543)(189,543)
Revenue2,714,557 544,452 3,259,009 
Cost of revenue2,283,107 432,406 2,715,513 
Gross profit431,450 112,046 543,496 
Selling, general and administrative expenses163,040 24,541 187,581 
Gain on sales of property and equipment, net(4,826)(974)(5,800)
Operating income from reportable segments$273,236 $88,479 $361,715 
Depreciation, depletion and amortization$61,610 $46,722 $108,332 
Segment assets as of period end$716,082 $1,326,266 $2,042,348 
2024
Total revenue from reportable segments$2,593,872 $625,570 $3,219,442 
Elimination of intersegment revenue— (189,171)(189,171)
Revenue2,593,872 436,399 3,030,271 
Cost of revenue2,230,987 377,339 2,608,326 
Gross profit362,885 59,060 421,945 
Selling, general and administrative expenses137,701 18,401 156,102 
Gain on sales of property and equipment, net(4,405)(628)(5,033)
Operating income from reportable segments$229,589 $41,287 $270,876 
Depreciation, depletion and amortization$44,183 $33,079 $77,262 
Segment assets as of period end$604,257 $646,654 $1,250,911 
A reconciliation of operating income from reportable segments to consolidated income before income taxes is as follows:
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in thousands)2025202420252024
Total operating income from reportable segments$199,326 $148,796 $361,715 $270,876 
Corporate selling, general and administrative expenses39,281 36,007 115,862 93,593 
Corporate (gain) loss on sales of property and equipment, net375 (52)(310)686 
Other costs, net16,019 8,543 38,698 29,778 
Total operating income143,651 104,298 207,465 146,819 
Total other (income) expense, net(3,874)(5,148)(7,536)16,791 
Income before income taxes$147,525 $109,446 $215,001 $130,028