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Reportable Segment Information
 3 Months Ended
Mar. 31, 2026
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”).
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 March 31,ConstructionMaterialsTotal
2026
Total revenue from reportable segments$766,054 $197,491 $963,545 
Elimination of intersegment revenue— (51,080)(51,080)
Revenue766,054 146,411 912,465 
Cost of revenue663,874 138,686 802,560 
Gross profit102,180 7,725 109,905 
Selling, general and administrative expenses72,176 11,914 84,090 
(Gain) loss on sales of property and equipment, net(4,241)1,292 (2,949)
Operating income (loss) from reportable segments$34,245 $(5,481)$28,764 
Depreciation, depletion and amortization$20,203 $20,383 $40,586 
Segment assets as of period end$688,110 $1,396,147 $2,084,257 
2025
Total revenue from reportable segments$614,618 $105,580 $720,198 
Elimination of intersegment revenue— (20,651)(20,651)
Revenue614,618 84,929 699,547 
Cost of revenue529,180 86,518 615,698 
Gross profit (loss)85,438 (1,589)83,849 
Selling, general and administrative expenses62,327 8,545 70,872 
Gain on sales of property and equipment, net(1,849)(69)(1,918)
Operating income (loss) from reportable segments$24,960 $(10,065)$14,895 
Depreciation, depletion and amortization$14,452 $13,555 $28,007 
Segment assets as of period end$613,882 $698,718 $1,312,600 
A reconciliation of operating income from reportable segments to consolidated income before income taxes is as follows:
Three Months Ended March 31,
(in thousands)20262025
Total operating income from reportable segments$28,764 $14,895 
Corporate selling, general and administrative expenses56,860 45,039 
Corporate (gain) loss on sales of property and equipment, net— 181 
Other costs, net3,037 9,426 
Total operating loss(31,133)(39,751)
Total other expense, net17,375 332 
Loss before income taxes$(48,508)$(40,083)