Quarterly report pursuant to Section 13 or 15(d)

Business Acquisition (Tables)

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Business Acquisition (Tables)
 3 Months Ended
Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following table summarizes the consideration for the Lone Star Acquisition and the provisional amounts of identified assets acquired and liabilities assumed as of December 31, 2024 (unaudited, in thousands):
Total
Cash and cash equivalents $ 9,984 
Contracts receivable including retainage 96,491 
Cost and estimated earnings in excess of billings on uncompleted contracts 3,972 
Inventories 28,070 
Prepaid expenses and other current assets 94 
Property, plant and equipment 409,021 
Operating lease right-of-use assets 2,006 
Intangible assets 68,700 
Total assets 618,338 
Accounts payable 40,059 
Billings in excess of costs and estimated earnings on uncompleted contracts 10,293 
Accrued expenses and other current liabilities 342 
Operating lease liabilities 2,006 
Total liabilities 52,700 
Goodwill 410,812 
Total cash consideration transferred 654,200 
Fair value of Class A common stock transferred 236,250 
Total consideration payable 86,000 
Total purchase price $ 976,450 

Schedule of Pro Forma Revenues and Net Income
The following table presents pro forma revenue and net income as though the Lone Star Acquisition had occurred on October 1, 2023 (unaudited, in thousands):

For the Three Months Ended December 31,
2024 2023
Pro forma revenue $ 624,273  $ 571,104 
Pro forma net income $ 17,856  $ 12,151