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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 23,308 $ 18,939
Adjustments to reconcile net income to net cash flows provided by operating activities:    
Depreciation and amortization of property and equipment 15,005 14,602
Amortization of intangible assets 1,188 1,228
Stock-based compensation expense 2,333 1,917
Gain on sale of property and equipment (1,101) (1,489)
Other non-cash items 71 656
Changes in operating assets and liabilities:    
Accounts receivable, net 84,015 (6,009)
Contract assets, net (39,618) (30,962)
Receivable for insurance claims in excess of deductibles (305) 197
Other assets 9,509 13,409
Accounts payable (7,831) (30,990)
Contract liabilities (29,337) 30,758
Accrued self-insurance (1,000) (4,426)
Other liabilities 27,049 (140)
Net cash flows provided by operating activities 83,286 7,690
Cash flows from investing activities:    
Proceeds from sale of property and equipment 2,176 1,879
Purchases of property and equipment (13,066) (25,783)
Net cash flows used in investing activities (10,890) (23,904)
Cash flows from financing activities:    
Borrowings under revolving lines of credit 230,695 121,745
Repayments under revolving lines of credit (215,761) (117,463)
Payment of principal obligations under equipment notes (2,156) (2,591)
Payment of principal obligations under finance leases (299) (275)
Repurchase of common stock (75,000) 0
Payments related to tax withholding for stock-based compensation (2,451) (5,866)
Net cash flows used in financing activities (64,972) (4,450)
Effect of exchange rate changes on cash 8 (324)
Net increase (decrease) in cash and cash equivalents 7,432 (20,988)
Cash and cash equivalents:    
Beginning of period 3,464 24,899
End of period $ 10,896 $ 3,911