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Revenue from Contracts with Customers (Tables)
 9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Performance Obligation Satisfied In Previous Period
Based on an evaluation of individual projects that were substantially complete in prior periods but had revisions to total estimated costs or anticipated contract value (inclusive of the settlement of previously outstanding change orders and claims) that resulted in an increase to profitability in excess of $1.0 million, we recognized revenue during the three and nine months ended September 30, 2025 and 2024, as summarized in the following table (in thousands):
 
For the three months ended
September 30,
For the nine months ended
September 30,
 2025202420252024
United States electrical construction and facilities services$21,049 $7,540 $2,512 $9,457 
United States mechanical construction and facilities services23,165 5,672 12,062 9,351 
Total impact$44,214 $13,212 $14,574 $18,808 
Cumulative Catch-Up Adjustment
Based on an evaluation of individual projects that had revisions to total estimated costs or anticipated contract value that resulted in a reduction of profitability in excess of $1.0 million, our operating results were negatively impacted during the three and nine months ended September 30, 2025 and 2024, as summarized in the following table (in thousands):
 
For the three months ended
September 30,
For the nine months ended
September 30,
 2025202420252024
United States electrical construction and facilities services$25,234 $— $37,419 $16,758 
United States mechanical construction and facilities services9,330 10,066 31,697 23,863 
Total impact$34,564 $10,066 $69,116 $40,621 
Disaggregation of Revenues
The following tables provide further disaggregation of our revenues, by categories we use to evaluate our financial performance within each of our reportable segments, for the three and nine months ended September 30, 2025 and 2024 (in thousands, except for percentages). Refer to Note 14 - Segment Information of the notes to consolidated financial statements for additional information on how we disaggregate our revenues by reportable segment.

For the three months ended September 30,
2025% of
Total		2024% of
Total
United States electrical construction and facilities services:
Network and communications market sector$621,650 48 %$367,555 43 %
Commercial market sector110,377 9 %70,366 8 %
Manufacturing and industrial market sector107,895 8 %109,528 13 %
Healthcare market sector96,319 7 %62,102 7 %
High-tech manufacturing market sector33,232 3 %48,960 6 %
Institutional market sector84,776 7 %51,504 6 %
Transportation market sector70,213 5 %47,720 6 %
Water and wastewater market sector8,869 1 %8,038 1 %
Hospitality and entertainment market sector35,305 3 %16,835 2 %
Short-duration projects (1)
92,400 7 %48,225 6 %
Service work25,214 2 %15,231 2 %
1,286,250 846,064 
Less intersegment revenues(981)(1,034)
Total segment revenues$1,285,269 $845,030 
 ________
(1)Represents those projects which generally are completed within three months or less.
NOTE 3 - Revenue from Contracts with Customers (Continued)
For the three months ended September 30,
2025% of
Total		2024% of
Total
United States mechanical construction and facilities services:
Network and communications market sector$432,138 24 %$221,700 13 %
Commercial market sector222,953 12 %243,629 15 %
Manufacturing and industrial market sector236,399 13 %176,127 11 %
Healthcare market sector145,882 8 %152,851 9 %
High-tech manufacturing market sector225,801 13 %388,084 23 %
Institutional market sector127,085 7 %136,218 8 %
Transportation market sector15,560 1 %13,834 1 %
Water and wastewater market sector83,229 5 %74,478 5 %
Hospitality and entertainment market sector31,781 2 %20,272 1 %
Short-duration projects (1)
105,104 6 %71,085 4 %
Service work161,636 9 %165,540 10 %
1,787,568 1,663,818 
Less intersegment revenues(8,289)(1,607)
Total segment revenues$1,779,279 $1,662,211 
 ________
(1)Represents those projects which generally are completed within three months or less.
For the three months ended September 30,
2025% of
Total		2024% of
Total
United States building services:
Mechanical services$634,246 78 %$599,371 75 %
Commercial site-based services141,652 17 %151,852 19 %
Government site-based services37,981 5 %45,700 6 %
Total segment revenues$813,879 $796,923 
For the three months ended September 30,
2025% of
Total		2024% of
Total
United States industrial services:
Field services$245,033 85 %$251,552 88 %
Shop services41,881 15 %34,858 12 %
Total segment revenues$286,914 $286,410 
Total United States operations$4,165,341 $3,590,574 
For the three months ended September 30,
2025% of
Total		2024% of
Total
United Kingdom building services:
Service work$71,702 53 %$49,530 47 %
Project work64,486 47 %56,820 53 %
Total segment revenues$136,188 $106,350 
Consolidated revenues
$4,301,529 $3,696,924 
NOTE 3 - Revenue from Contracts with Customers (Continued)
For the nine months ended September 30,
2025% of
Total		2024% of
Total
United States electrical construction and facilities services:
Network and communications market sector$1,807,953 49 %$1,002,116 42 %
Commercial market sector325,471 9 %233,365 10 %
Manufacturing and industrial market sector317,528 9 %313,454 13 %
Healthcare market sector337,735 9 %177,059 7 %
High-tech manufacturing market sector114,356 3 %137,306 6 %
Institutional market sector203,857 5 %128,075 5 %
Transportation market sector198,769 5 %147,701 6 %
Water and wastewater market sector29,155 1 %23,337 1 %
Hospitality and entertainment market sector84,930 2 %55,143 2 %
Short-duration projects (1)
232,082 6 %150,508 6 %
Service work66,247 2 %44,789 2 %
3,718,083 2,412,853 
Less intersegment revenues(4,723)(3,118)
Total segment revenues$3,713,360 $2,409,735 
 ________
(1)Represents those projects which generally are completed within three months or less.
For the nine months ended September 30,
2025% of
Total		2024% of
Total
United States mechanical construction and facilities services:
Network and communications market sector$1,152,175 22 %$527,404 11 %
Commercial market sector619,863 12 %775,767 16 %
Manufacturing and industrial market sector643,922 13 %568,502 12 %
Healthcare market sector439,497 9 %426,275 9 %
High-tech manufacturing market sector789,606 15 %1,075,890 23 %
Institutional market sector324,652 6 %360,602 8 %
Transportation market sector39,729 1 %43,496 1 %
Water and wastewater market sector249,916 5 %224,921 5 %
Hospitality and entertainment market sector97,848 2 %49,902 1 %
Short-duration projects (1)
299,833 6 %253,916 5 %
Service work460,780 9 %443,055 9 %
5,117,821 4,749,730 
Less intersegment revenues(10,682)(4,673)
Total segment revenues$5,107,139 $4,745,057 
________
(1)Represents those projects which generally are completed within three months or less.
NOTE 3 - Revenue from Contracts with Customers (Continued)
For the nine months ended September 30,
2025% of
Total		2024% of
Total
United States building services:
Mechanical services$1,812,248 77 %$1,695,254 72 %
Commercial site-based services418,521 18 %522,353 22 %
Government site-based services118,992 5 %141,584 6 %
Total segment revenues$2,349,761 $2,359,191 
For the nine months ended September 30,
2025% of
Total		2024% of
Total
United States industrial services:
Field services$804,630 87 %$837,224 87 %
Shop services122,358 13 %127,286 13 %
Total segment revenues$926,988 $964,510 
Total United States operations$12,097,248 $10,478,493 
For the nine months ended September 30,
2025% of
Total		2024% of
Total
United Kingdom building services:
Service work$189,394 50 %$150,534 47 %
Project work186,659 50 %167,070 53 %
Total segment revenues$376,053 $317,604 
Consolidated revenues
$12,473,301 $10,796,097 
Accounts Receivable, Allowance for Credit Losses
The change in the allowance for credit losses for the nine months ended September 30, 2025 was as follows (in thousands):
Balance at December 31, 2024
$34,957 
Provision for credit losses5,402 
Amounts written off against the allowance, net of recoveries(18,446)
Balance at September 30, 2025
$21,913 
Contract Assets and Contract Liabilities
Net contract liabilities in the accompanying Consolidated Balance Sheets consisted of the following amounts as of September 30, 2025 and December 31, 2024 (in thousands):
September 30,
2025		December 31, 2024
Contract assets, current$313,910 $284,791 
Contract assets, non-current— — 
Contract liabilities, current(2,144,210)(2,047,540)
Contract liabilities, non-current(674)(1,526)
Net contract liabilities$(1,830,974)$(1,764,275)
Remaining Performance Obligations
The following table presents the transaction price allocated to remaining unsatisfied performance obligations (“remaining performance obligations”) for each of our reportable segments and their respective percentages of total remaining performance obligations as of September 30, 2025 (in thousands, except for percentages):
September 30,
2025		% of Total
Remaining performance obligations:
United States electrical construction and facilities services$4,497,521 35 %
United States mechanical construction and facilities services6,421,665 51 %
United States building services1,280,681 10 %
United States industrial services202,198 2 %
Total United States operations12,402,065 98 %
United Kingdom building services211,828 2 %
Total operations$12,613,893 100 %
Remaining Performance Obligations, Expected Timing of Satisfaction
Refer to the table below for additional information regarding our remaining performance obligations, including an estimate of when we expect to recognize such remaining performance obligations as revenue (in thousands):
Within one yearGreater than one year
Remaining performance obligations:
United States electrical construction and facilities services$3,330,996 $1,166,525 
United States mechanical construction and facilities services4,952,601 1,469,064 
United States building services1,169,455 111,226 
United States industrial services202,198 — 
Total United States operations9,655,250 2,746,815 
United Kingdom building services179,979 31,849 
Total operations$9,835,229 $2,778,664