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Quarterly Financial Information | 12 Months Ended
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Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Information |
23. | QUARTERLY FINANCIAL INFORMATION
The following tables present our 2022, 2021 and 2020 quarterly revenue and income from operations by segment adjusted to conform to our 2022 continuing operations presentation:
| 2022 Quarters Ended (unaudited) |  |
Revenues | March 31 |  | June 30 |  | September 30 |  | December 31 |  | Total
E-Infrastructure Solutions | $ | 168,927 |  |  | $ | 233,548 |  |  | $ | 255,530 |  |  | $ | 247,272 |  |  | $ | 905,277 |
Transportation Solutions | 116,141 |  |  | 142,640 |  |  | 157,224 |  |  | 126,545 |  |  | 542,550 |
Building Solutions | 80,894 |  |  | 85,639 |  |  | 80,286 |  |  | 74,790 |  |  | 321,609 |
Revenues | $ | 365,962 |  |  | $ | 461,827 |  |  | $ | 493,040 |  |  | $ | 448,607 |  |  | $ | 1,769,436 |
Operating Income (Loss) |  |  |  |  |  |  |  |  |
E-Infrastructure Solutions | $ | 21,285 |  |  | $ | 32,824 |  |  | $ | 37,533 |  |  | $ | 29,811 |  |  | $ | 121,453 |
Transportation Solutions | 4,443 |  |  | 7,410 |  |  | 9,700 |  |  | 5,070 |  |  | 26,623 |
Building Solutions | 9,358 |  |  | 9,751 |  |  | 9,324 |  |  | 8,260 |  |  | 36,693 |
Segment Operating Income | 35,086 |  |  | 49,985 |  |  | 56,557 |  |  | 43,141 |  |  | 184,769 |
Corporate | (5,468) |  |  | (5,766) |  |  | (7,005) |  |  | (5,833) |  |  | (24,072) |
Acquisition related costs | (255) |  |  | (230) |  |  | (77) |  |  | (265) |  |  | (827) |
Operating Income | $ | 29,363 |  |  | $ | 43,989 |  |  | $ | 49,475 |  |  | $ | 37,043 |  |  | $ | 159,870 |
| 2021 Quarters Ended (unaudited) |  |
Revenues | March 31 |  | June 30 |  | September 30 |  | December 31 |  | Total
E-Infrastructure Solutions | $ | 96,572 |  |  | $ | 123,743 |  |  | $ | 121,286 |  |  | $ | 127,183 |  |  | $ | 468,784 |
Transportation Solutions | 119,097 |  |  | 160,017 |  |  | 199,559 |  |  | 149,517 |  |  | 628,190 |
Building Solutions | 71,690 |  |  | 74,769 |  |  | 92,266 |  |  | 78,675 |  |  | 317,400 |
Revenues | $ | 287,359 |  |  | $ | 358,529 |  |  | $ | 413,111 |  |  | $ | 355,375 |  |  | $ | 1,414,374 |
Operating Income (Loss) |  |  |  |  |  |  |  |  |
E-Infrastructure Solutions | $ | 17,812 |  |  | $ | 24,714 |  |  | $ | 19,218 |  |  | $ | 18,734 |  |  | $ | 80,478 |
Transportation Solutions | 2,300 |  |  | 4,414 |  |  | 8,936 |  |  | 4,238 |  |  | 19,888 |
Building Solutions | 7,361 |  |  | 6,790 |  |  | 9,238 |  |  | 9,175 |  |  | 32,564 |
Segment Operating Income | 27,473 |  |  | 35,918 |  |  | 37,392 |  |  | 32,147 |  |  | 132,930 |
Corporate | (5,044) |  |  | (3,404) |  |  | (5,382) |  |  | (8,212) |  |  | (22,042) |
Acquisition related costs | — |  |  | — |  |  | — |  |  | (3,877) |  |  | (3,877) |
Operating Income | $ | 22,429 |  |  | $ | 32,514 |  |  | $ | 32,010 |  |  | $ | 20,058 |  |  | $ | 107,011 |
| 2020 Quarters Ended (unaudited) |  |
Revenues | March 31 |  | June 30 |  | September 30 |  | December 31 |  | Total
E-Infrastructure Solutions | $ | 78,574 |  |  | $ | 103,310 |  |  | $ | 114,961 |  |  | $ | 100,408 |  |  | $ | 397,253 |
Transportation Solutions | 108,924 |  |  | 168,413 |  |  | 143,512 |  |  | 132,301 |  |  | 553,150 |
Building Solutions | 64,828 |  |  | 73,951 |  |  | 67,419 |  |  | 70,137 |  |  | 276,335 |
Revenues | $ | 252,326 |  |  | $ | 345,674 |  |  | $ | 325,892 |  |  | $ | 302,846 |  |  | $ | 1,226,738 |
Operating Income (Loss) |  |  |  |  |  |  |  |  |
E-Infrastructure Solutions | $ | 13,630 |  |  | $ | 23,573 |  |  | $ | 22,416 |  |  | $ | 16,903 |  |  | $ | 76,522 |
Transportation Solutions | (1,387) |  |  | 6,739 |  |  | 3,714 |  |  | 2,932 |  |  | 11,998 |
Building Solutions | 7,438 |  |  | 8,950 |  |  | 7,687 |  |  | 6,366 |  |  | 30,441 |
Segment Operating Income | 19,681 |  |  | 39,262 |  |  | 33,817 |  |  | 26,201 |  |  | 118,961 |
Corporate | (7,195) |  |  | (6,589) |  |  | (5,529) |  |  | (6,007) |  |  | (25,320) |
Acquisition related costs | (473) |  |  | (139) |  |  | (401) |  |  | (13) |  |  | (1,026) |
Operating Income | $ | 12,013 |  |  | $ | 32,534 |  |  | $ | 27,887 |  |  | $ | 20,181 |  |  | $ | 92,615 |
The following tables summarize the unaudited quarterly results of continuing operations for 2022, 2021 and 2020:
| 2022 Quarters Ended (unaudited)
| March 31 |  | June 30 |  | September 30 |  | December 31
Revenues | $ | 365,962 |  |  | $ | 461,827 |  |  | $ | 493,040 |  |  | $ | 448,607 |
Gross profit | $ | 55,149 |  |  | $ | 71,008 |  |  | $ | 79,444 |  |  | $ | 68,966 |
Income before income taxes | $ | 24,721 |  |  | $ | 39,540 |  |  | $ | 44,505 |  |  | $ | 31,398 |
Net income from Continuing Operations | $ | 17,672 |  |  | $ | 28,114 |  |  | $ | 30,698 |  |  | $ | 20,233 |
Net income per share from Continuing Operations: |  |  |  |  |  |  |
Basic | $ | 0.59 |  |  | $ | 0.93 |  |  | $ | 1.01 |  |  | $ | 0.67 |
Diluted | $ | 0.59 |  |  | $ | 0.92 |  |  | $ | 1.01 |  |  | $ | 0.66 |
| 2021 Quarters Ended (unaudited)
| March 31 |  | June 30 |  | September 30 |  | December 31
Revenues | $ | 287,359 |  |  | $ | 358,529 |  |  | $ | 413,111 |  |  | $ | 355,375 |
Gross profit | $ | 42,479 |  |  | $ | 53,663 |  |  | $ | 54,878 |  |  | $ | 52,512 |
Income before income taxes | $ | 16,117 |  |  | $ | 28,206 |  |  | $ | 28,091 |  |  | $ | 16,395 |
Net income from Continuing Operations | $ | 10,280 |  |  | $ | 19,922 |  |  | $ | 19,985 |  |  | $ | 11,270 |
Net income per share from Continuing Operations: |  |  |  |  |  |  |
Basic | $ | 0.36 |  |  | $ | 0.70 |  |  | $ | 0.70 |  |  | $ | 0.39 |
Diluted | $ | 0.36 |  |  | $ | 0.69 |  |  | $ | 0.68 |  |  | $ | 0.38 |
| 2020 Quarters Ended (unaudited)
| March 31 |  | June 30 |  | September 30 |  | December 31
Revenues | $ | 252,326 |  |  | $ | 345,674 |  |  | $ | 325,892 |  |  | $ | 302,846 |
Gross profit | $ | 33,535 |  |  | $ | 56,831 |  |  | $ | 46,297 |  |  | $ | 42,967 |
Income before income taxes | $ | 4,306 |  |  | $ | 24,999 |  |  | $ | 20,757 |  |  | $ | 13,069 |
Net income from Continuing Operations | $ | 2,976 |  |  | $ | 17,649 |  |  | $ | 13,944 |  |  | $ | 8,554 |
Net income per share from Continuing Operations: |  |  |  |  |  |  |
Basic | $ | 0.11 |  |  | $ | 0.63 |  |  | $ | 0.50 |  |  | $ | 0.31 |
Diluted | $ | 0.11 |  |  | $ | 0.63 |  |  | $ | 0.49 |  |  | $ | 0.29 |
The Company’s operating revenues tend to be somewhat higher in the summer months which are typically due to holiday schedules and warmer and dryer weather conditions. Our second and third quarter revenues and results of operations typically reflect these seasonal trends. However, from time to time, the Company’s operating results are significantly affected by certain transactions or events that management believes are not indicative or representative of our results.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI https://asc.fasb.org/topic&trid=2126967 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1B -URI https://asc.fasb.org/extlink&oid=126900988&loc=SL124452896-108306 + Details
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