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Segment Information (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Summary of information about reportable segments

The following tables present information about our reportable segments (in thousands):


		Mechanical Segment			Electrical Segment			Corporate			Consolidated
Total assets at September 30, 2025		$	3,689,895		$	1,184,210		$	903,746		$	5,777,851
Total assets at December 31, 2024		$	3,162,677		$	985,006		$	563,405		$	4,711,088


		Three Months Ended September 30, 2025
		Mechanical Segment			Electrical Segment			Corporate			Consolidated
Revenue		$	1,810,462		$	640,507		$	—		$	2,450,969
Cost of services			1,370,687			472,411			—			1,843,098
Gross profit			439,775			168,096			—			607,871
Selling, general and administrative expenses			152,442			60,021			17,116			229,579
Gain on sale of assets			(418)			(164)			—			(582)
Operating income (loss)		$	287,751		$	108,239		$	(17,116)		$	378,874

Amortization of identifiable intangible assets		$	14,001		$	5,525		$	—		$	19,526
Depreciation expense		$	13,048		$	2,600		$	400		$	16,048
Capital expenditures		$	28,881		$	5,787		$	664		$	35,332


		Three Months Ended September 30, 2024
		Mechanical Segment			Electrical Segment			Corporate			Consolidated
Revenue		$	1,438,617		$	373,749		$	—		$	1,812,366
Cost of services			1,146,245			284,407			—			1,430,652
Gross profit			292,372			89,342			—			381,714
Selling, general and administrative expenses			127,591			39,612			12,974			180,177
Gain on sale of assets			(675)			(672)			—			(1,347)
Operating income (loss)		$	165,456		$	50,402		$	(12,974)		$	202,884

Amortization of identifiable intangible assets		$	18,896		$	5,525		$	—		$	24,421
Depreciation expense		$	10,170		$	1,877		$	286		$	12,333
Capital expenditures		$	18,234		$	3,506		$	319		$	22,059

		Nine Months Ended September 30, 2025
		Mechanical Segment			Electrical Segment			Corporate			Consolidated
Revenue		$	4,851,349		$	1,604,225		$	—		$	6,455,574
Cost of services			3,732,449			1,201,941			—			4,934,390
Gross profit			1,118,900			402,284			—			1,521,184
Selling, general and administrative expenses			421,786			159,302			53,831			634,919
Gain on sale of assets			(1,141)			(439)			—			(1,580)
Operating income (loss)		$	698,255		$	243,421		$	(53,831)		$	887,845

Amortization of identifiable intangible assets		$	42,857		$	16,575		$	—		$	59,432
Depreciation expense		$	36,545		$	7,361		$	1,008		$	44,914
Capital expenditures		$	72,179		$	15,419		$	1,215		$	88,813

		Nine Months Ended September 30, 2024
		Mechanical Segment			Electrical Segment			Corporate			Consolidated
Revenue		$	4,075,305		$	1,084,367		$	—		$	5,159,672
Cost of services			3,286,249			830,750			—			4,116,999
Gross profit			789,056			253,617			—			1,042,673
Selling, general and administrative expenses			363,201			114,630			44,606			522,437
Gain on sale of assets			(1,605)			(1,173)			—			(2,778)
Operating income (loss)		$	427,460		$	140,160		$	(44,606)		$	523,014

Amortization of identifiable intangible assets		$	58,355		$	16,869		$	—		$	75,224
Depreciation expense		$	29,103		$	5,401		$	873		$	35,377
Capital expenditures		$	56,403		$	11,778		$	2,214		$	70,395