v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2026
Mar. 31, 2026
Sep. 30, 2025
Mar. 31, 2025
Sep. 30, 2026
Sep. 30, 2025
Dec. 31, 2025
Cash flows from operating activities:              
Net income $ 71,533 $ 17,860 $ (14,197) $ 31,036 $ 141,537 $ 56,823  
Adjustments to reconcile net income to net cash provided by operating activities:              
Depreciation and amortization         222,904 202,993  
Equity compensation expense         23,594 18,013  
Amortization of debt issuance costs         8,987 9,734  
Non-cash lease expense         9,160 6,042  
Provision for credit losses         4,278 1,032 $ 1,032
Inventory reserve         0 124  
Loss on sale of assets 2,028   38,230   6,248 54,047  
Loss on discontinuation of hedge         0 9,398  
Amortization of interest rate swap         0 5,152  
Deferred tax provision         55,839 15,084  
Loss on extinguishment of debt         36,512 0  
Changes in operating assets and liabilities, net of acquisition              
Accounts receivable         (75,046) 25,479  
Inventories         (8,277) 1,359  
Contract assets         (9,007) 2,693  
Prepaid expenses and other current assets         (3,621) (11,625)  
Accounts payable         15,798 6,681  
Accrued and other liabilities         (50,310) 3,567  
Contract liabilities         588 (2,479)  
Other assets         (12,247) 761  
Net cash provided by operating activities         366,937 404,878  
Cash flows from investing activities:              
Acquisition of DPS, net of cash acquired         (575,965) 0  
Purchase of property, plant and equipment         (544,300) (262,641)  
Proceeds from sale of assets         10,399 26,949  
Net cash used for investing activities         (1,109,866) (235,692)  
Cash flows from financing activities:              
Borrowings on debt instruments         2,324,950 2,506,305  
Payments on debt instruments         (2,150,830) (2,455,996)  
Principal payments on other borrowings         (4,833) (4,645)  
Payment of debt issuance cost         (14,374) (26,457)  
Principal payments on finance leases         (1,666) (2,393)  
Proceeds from issuance of common stock, net of issuance costs         836,132 0  
Dividends paid to stockholders         (142,684) (116,571)  
Repurchase of common shares         0 (70,320)  
Cash paid for shares withheld to cover taxes         (20,998) (6,013)  
Net effect on deferred taxes and taxes payable related to the vesting of restricted stock         0 3,906  
Distributions to noncontrolling interest         (220) (1,028)  
Other         1,222 0  
Net cash provided by (used for) financing activities         826,699 (173,212)  
Net increase (decrease) in cash and cash equivalents         83,770 (4,026)  
Cash and cash equivalents - beginning of period   $ 3,179   $ 4,750 3,179 4,750 4,750
Cash and cash equivalents - end of period $ 86,949   $ 724   86,949 724 $ 3,179
Supplemental cash disclosures:              
Cash paid for interest         110,198 136,941  
Cash paid for taxes         2,320 5,680  
Supplemental disclosure of non-cash investing activities:              
Increase in accrued capital expenditures         (10,913) (13,047)  
Supplemental disclosure of non-cash financing activities:              
Fair value changes in interest rate swap         (14,492) 10,240  
Accrued debt issuance cost         0 6,333  
Issuance of common shares         $ 139,034 $ 9  

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