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Unaudited Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 28, 2024
Sep. 30, 2023
Sep. 28, 2024
Sep. 30, 2023
Revenue:        
Total revenue $ 1,171,137 $ 794,797 $ 3,094,414 $ 1,959,335
Cost of revenue (excluding items shown separately below):        
Total cost of revenue 788,310 543,159 2,162,330 1,389,599
General and administrative expenses 78,916 50,895 231,317 150,731
Depreciation, depletion, amortization and accretion 99,159 57,452 299,527 163,133
Transaction and integration costs 13,656 17,442 86,129 19,518
Gain on sale of property, plant and equipment (3,555) (2,134) (7,583) (5,787)
Operating income 194,651 127,983 322,694 242,141
Interest expense 50,916 28,013 155,657 83,335
Loss on debt financings 7,157 0 12,610 493
Tax receivable agreement benefit 0 (153,080) 0 (153,080)
Loss (gain) on sale of businesses 7,083 0 (11,660) 0
Other income, net (9,224) (3,583) (26,188) (14,771)
Income from operations before taxes 138,719 256,633 192,275 326,164
Income tax expense 33,541 23,908 48,292 39,923
Net income 105,178 232,725 143,983 286,241
Net income (loss) attributable to noncontrolling interest in Summit Holdings 0 2,680 (404) 3,363
Net income attributable to Summit Inc. $ 105,178 $ 230,045 $ 144,387 $ 282,878
Common Class A        
Earnings per share of Class A common stock:        
Basic (in usd per share) $ 0.60 $ 1.93 $ 0.84 $ 2.38
Diluted (in usd per share) $ 0.60 $ 1.92 $ 0.83 $ 2.37
Weighted average shares of Class A common stock:        
Basic (in shares) 175,588,180 118,928,799 172,848,097 118,780,523
Diluted (in shares) 176,287,257 119,725,693 173,649,453 119,558,974
Common Class A And Restricted Stock        
Earnings per share of Class A common stock:        
Basic (in usd per share) $ 0.60 $ 1.93 $ 0.84 $ 2.38
Weighted average shares of Class A common stock:        
Basic (in shares) 175,635,388 119,013,331 172,899,150 118,874,967
Diluted (in shares) 176,287,257 119,725,693 173,649,453 119,558,974
Excluding delivery and subcontract revenue        
Revenue:        
Total revenue $ 1,111,846 $ 741,960 $ 2,960,546 $ 1,829,603
Cost of revenue (excluding items shown separately below):        
Total cost of revenue 729,019 490,322 2,028,462 1,259,867
Product        
Revenue:        
Total revenue 1,013,646 641,778 2,736,081 1,609,664
Cost of revenue (excluding items shown separately below):        
Total cost of revenue 658,901 412,784 1,865,009 1,086,299
Service        
Revenue:        
Total revenue 98,200 100,182 224,465 219,939
Cost of revenue (excluding items shown separately below):        
Total cost of revenue 70,118 77,538 163,453 173,568
Delivery and subcontract revenue        
Revenue:        
Total revenue 59,291 52,837 133,868 129,732
Cost of revenue (excluding items shown separately below):        
Total cost of revenue $ 59,291 $ 52,837 $ 133,868 $ 129,732