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Revenue from Contracts with Customers (Tables)

9 Months Ended

Sep. 30, 2025

Revenue from Contract with Customer [Abstract]

Schedule of disaggregation of revenue

See details in the following tables (dollars in thousands):

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​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	Three Months Ended September 30,										​	​	Nine Months Ended September 30,
Revenue by Service Provided		2025				​		2024				​		2025				​		2024				​
Mechanical Segment	​	$	1,810,462		73.9	%	​	$	1,438,617		79.4	%	​	$	4,851,349		75.1	%	​	$	4,075,305		79.0	%
Electrical Segment	​	​	640,507	​	26.1	%	​	​	373,749	​	20.6	%	​	​	1,604,225	​	24.9	%	​	​	1,084,367	​	21.0	%
Total	​	$	2,450,969	​	100.0	%	​	$	1,812,366	​	100.0	%	​	$	6,455,574	​	100.0	%	​	$	5,159,672	​	100.0	%
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	Three Months Ended September 30,										​	​	Nine Months Ended September 30,
Revenue by Type of Customer	​	2025				​	​	2024					​	2025				​	​	2024
Technology	​	$	1,122,528	​	45.8	%	​	$	615,398	​	34.0	%	​	$	2,734,280	​	42.4	%	​	$	1,641,525	​	31.8	%
Manufacturing	​	​	543,110	​	22.2	%	​	​	452,157	​	24.9	%	​	​	1,468,936	​	22.7	%	​	​	1,439,772	​	27.9	%
Healthcare	​	​	206,965	​	8.5	%	​	​	149,974	​	8.3	%	​	​	589,848	​	9.1	%	​	​	424,450	​	8.2	%
Education	​	​	171,707	​	7.0	%	​	​	195,737	​	10.8	%	​	​	527,794	​	8.2	%	​	​	523,153	​	10.1	%
Office Buildings	​	​	125,458	​	5.1	%	​	​	109,233	​	6.0	%	​	​	358,445	​	5.5	%	​	​	326,137	​	6.3	%
Government	​	​	122,284	​	5.0	%	​	​	92,555	​	5.1	%	​	​	326,318	​	5.1	%	​	​	271,429	​	5.3	%
Retail, Restaurants and Entertainment	​	​	88,503	​	3.6	%	​	​	114,572	​	6.3	%	​	​	250,619	​	3.9	%	​	​	309,658	​	6.0	%
Multi-Family and Residential	​	​	35,342	​	1.4	%	​	​	33,838	​	1.9	%	​	​	96,909	​	1.5	%	​	​	110,870	​	2.2	%
Other	​	​	35,072	​	1.4	%	​	​	48,902	​	2.7	%	​	​	102,425	​	1.6	%	​	​	112,678	​	2.2	%
Total	​	$	2,450,969	​	100.0	%	​	$	1,812,366	​	100.0	%	​	$	6,455,574	​	100.0	%	​	$	5,159,672	​	100.0	%
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​

​	​	Three Months Ended September 30,										​	​	Nine Months Ended September 30,
Revenue by Activity Type	​	2025				​	​	2024					​	2025				​	​	2024
New Construction	​	$	1,597,452	​	65.2	%	​	$	949,035	​	52.4	%	​	$	3,919,402	​	60.7	%	​	$	2,930,283	​	56.8	%
Existing Building Construction	​	​	527,139	​	21.5	%	​	​	570,288	​	31.5	%	​	​	1,626,978	​	25.2	%	​	​	1,407,231	​	27.3	%
Service Projects	​	​	150,383	​	6.1	%	​	​	125,249	​	6.9	%	​	​	415,868	​	6.5	%	​	​	355,643	​	6.9	%
Service Calls, Maintenance and Monitoring	​	​	175,995	​	7.2	%	​	​	167,794	​	9.2	%	​	​	493,326	​	7.6	%	​	​	466,515	​	9.0	%
Total	​	$	2,450,969	​	100.0	%	​	$	1,812,366	​	100.0	%	​	$	6,455,574	​	100.0	%	​	$	5,159,672	​	100.0	%

​

Schedule of contract assets and liabilities

Contract assets and liabilities in the Consolidated Balance Sheet consisted of the following amounts as of September 30, 2025 and December 31, 2024 (in thousands):

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​	​	​	​	​	​
​	September 30, 2025		​	December 31, 2024
Contract assets:	​	​	​	​	​
Costs and estimated earnings in excess of billings, less allowance for credit losses	$	163,350	​	$	91,681
Contract liabilities:	​	​	​	​	​
Billings in excess of costs and estimated earnings and deferred revenue	$	1,734,272	​	$	1,149,257

X

- Definition

Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

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- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

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