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v3.26.1

Revenue (Tables) | 3 Months Ended
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Mar. 31, 2026
Revenue |
Schedule of contract assets | Contract assets consist of the following (in millions):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, | ​ | December 31,
​ | ​ ​ ​ | 2026 | ​ ​ ​ | 2025
Unbilled revenue | ​ | $ | 545.3 | ​ | $ | 569.7
Retention receivable | ​ | ​ | 309.7 | ​ | ​ | 311.2
Contract materials (not yet installed) | ​ |  | 62.3 | ​ |  | 56.0
​ | ​ | $ | 917.3 | ​ | $ | 936.9
Schedule of contract liabilities | Contract liabilities consist of the following (in millions):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, | ​ | December 31,
​ | ​ ​ ​ | 2026 | ​ ​ ​ | 2025
Deferred revenue | ​ | $ | 568.5 | ​ | $ | 629.2
Accrued loss provision | ​ |  | 3.4 | ​ |  | 4.4
​ | ​ | $ | 571.9 | ​ | $ | 633.6
Schedule of revenue disaggregation by various categories | MSA and Non-MSA revenue was as follows (in millions): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended March 31, 2026
Segment | ​ ​ ​ | MSA | ​ ​ ​ | Non-MSA | ​ ​ ​ | Total
Utilities | ​ | $ | 473.6 |  | $ | 159.3 |  | $ | 632.9
Energy | ​ | ​ | 86.2 | ​ | ​ | 869.2 | ​ | ​ | 955.4
Intersegment eliminations | ​ | ​ | — | ​ | ​ | (28.4) | ​ | ​ | (28.4)
Total | ​ | $ | 559.8 |  | $ | 1,000.1 |  | $ | 1,559.9
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended March 31, 2025
Segment | ​ | MSA | ​ ​ ​ | Non-MSA | ​ ​ ​ | Total
Utilities | ​ | $ | 452.1 |  | $ | 111.3 |  | $ | 563.4
Energy | ​ | ​ | 38.4 | ​ | ​ | 1,069.9 | ​ | ​ | 1,108.3
Intersegment eliminations | ​ | ​ | (0.5) | ​ | ​ | (23.1) | ​ | ​ | (23.6)
Total | ​ | $ | 490.0 |  | $ | 1,158.1 |  | $ | 1,648.1
​ Revenue by contract type was as follows (in millions): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended March 31, 2026
Segment | ​ ​ ​ | Fixed-Price | ​ ​ ​ | Unit-Price | ​ ​ ​ | Cost Reimbursable (1) | ​ ​ ​ | Total
Utilities | ​ | $ | 112.1 |  | $ | 399.1 |  | $ | 121.7 |  | $ | 632.9
Energy | ​ | ​ | 615.0 | ​ | ​ | 159.8 | ​ | ​ | 180.6 | ​ | ​ | 955.4
Intersegment eliminations | ​ | ​ | (25.7) | ​ | ​ | (1.6) | ​ | ​ | (1.1) | ​ | ​ | (28.4)
Total | ​ | $ | 701.4 |  | $ | 557.3 |  | $ | 301.2 |  | $ | 1,559.9
| (1) | Includes time and material and cost reimbursable plus fee contracts.
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended March 31, 2025
Segment | ​ | Fixed-Price | ​ ​ ​ | Unit-Price | ​ ​ ​ | Cost Reimbursable (1) | ​ ​ ​ | Total
Utilities | ​ | $ | 77.9 |  | $ | 344.4 |  | $ | 141.1 |  | $ | 563.4
Energy | ​ | ​ | 776.9 | ​ | ​ | 147.2 | ​ | ​ | 184.2 | ​ | ​ | 1,108.3
Intersegment eliminations | ​ | ​ | (19.1) | ​ | ​ | (3.5) | ​ | ​ | (1.0) | ​ | ​ | (23.6)
Total | ​ | $ | 835.7 |  | $ | 488.1 |  | $ | 324.3 |  | $ | 1,648.1
| (1) | Includes time and material and cost reimbursable plus fee contracts.

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