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v3.26.1

Revenue (Tables) | 6 Months Ended
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Jun. 30, 2026
Revenue |
Schedule of contract assets | Contract assets consist of the following (in millions):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, | ​ | December 31,
​ | ​ ​ ​ | 2026 | ​ ​ ​ | 2025
Unbilled revenue | ​ | $ | 584.4 | ​ | $ | 569.7
Retention receivable | ​ | ​ | 291.3 | ​ | ​ | 311.2
Contract materials (not yet installed) | ​ |  | 62.0 | ​ |  | 56.0
​ | ​ | $ | 937.7 | ​ | $ | 936.9
Schedule of contract liabilities | Contract liabilities consist of the following (in millions):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, | ​ | December 31,
​ | ​ ​ ​ | 2026 | ​ ​ ​ | 2025
Deferred revenue | ​ | $ | 667.0 | ​ | $ | 629.2
Accrued loss provision | ​ |  | 16.1 | ​ |  | 4.4
​ | ​ | $ | 683.1 | ​ | $ | 633.6
Schedule of revenue disaggregation by various categories | ​ MSA and Non-MSA revenue was as follows (in millions): ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended June 30, 2026
Segment | ​ ​ ​ | MSA | ​ ​ ​ | Non-MSA | ​ ​ ​ | Total
Utilities | ​ | $ | 583.5 |  | $ | 129.1 |  | $ | 712.6
Energy | ​ | ​ | 137.1 | ​ | ​ | 862.8 | ​ | ​ | 999.9
Intersegment eliminations | ​ | ​ | — | ​ | ​ | (24.3) | ​ | ​ | (24.3)
Total | ​ | $ | 720.6 |  | $ | 967.6 |  | $ | 1,688.2
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the six months ended June 30, 2026
Segment | ​ ​ ​ | MSA | ​ ​ ​ | Non-MSA | ​ ​ ​ | Total
Utilities | ​ | $ | 1,057.1 | ​ | ​ | 288.4 | ​ | $ | 1,345.5
Energy | ​ | ​ | 223.3 | ​ | ​ | 1,732.0 | ​ | ​ | 1,955.3
Intersegment eliminations | ​ | ​ | — | ​ | ​ | (52.7) | ​ | ​ | (52.7)
Total | ​ | $ | 1,280.4 |  | $ | 1,967.7 |  | $ | 3,248.1
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended June 30, 2025
Segment | ​ | MSA | ​ ​ ​ | Non-MSA | ​ ​ ​ | Total
Utilities | ​ | $ | 539.4 |  | $ | 153.6 |  | $ | 693.0
Energy | ​ | ​ | 63.9 | ​ | ​ | 1,172.9 | ​ | ​ | 1,236.8
Intersegment eliminations | ​ | ​ | (0.4) | ​ | ​ | (38.7) | ​ | ​ | (39.1)
Total | ​ | $ | 602.9 |  | $ | 1,287.8 |  | $ | 1,890.7
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the six months ended June 30, 2025
Segment | ​ | MSA | ​ | Non-MSA | ​ | Total
Utilities | ​ | $ | 991.5 | ​ | $ | 264.9 | ​ | $ | 1,256.4
Energy | ​ | ​ | 102.3 | ​ | ​ | 2,242.8 | ​ | ​ | 2,345.1
Intersegment eliminations | ​ | ​ | (0.9) | ​ | ​ | (61.8) | ​ | ​ | (62.7)
Total | ​ | $ | 1,092.9 |  | $ | 2,445.9 |  | $ | 3,538.8
​ Revenue by contract type was as follows (in millions): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended June 30, 2026
Segment | ​ ​ ​ | Fixed-Price | ​ ​ ​ | Unit-Price | ​ ​ ​ | Cost Reimbursable (1) | ​ ​ ​ | Total
Utilities | ​ | $ | 106.9 |  | $ | 475.7 |  | $ | 130.0 |  | $ | 712.6
Energy | ​ | ​ | 543.8 | ​ | ​ | 183.2 | ​ | ​ | 272.9 | ​ | ​ | 999.9
Intersegment eliminations | ​ | ​ | (16.7) | ​ | ​ | 0.7 | ​ | ​ | (8.3) | ​ | ​ | (24.3)
Total | ​ | $ | 634.0 |  | $ | 659.6 |  | $ | 394.6 |  | $ | 1,688.2
| (1) | Includes time and material and cost reimbursable plus fee contracts.
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the six months ended June 30, 2026
Segment | ​ ​ ​ | Fixed-Price | ​ ​ ​ | Unit-Price | ​ ​ ​ | Cost Reimbursable (1) | ​ ​ ​ | Total
Utilities | ​ | $ | 219.0 | ​ | $ | 874.8 | ​ | $ | 251.7 | ​ | $ | 1,345.5
Energy | ​ | ​ | 1,158.8 | ​ | ​ | 343.0 | ​ | ​ | 453.5 | ​ | ​ | 1,955.3
Intersegment eliminations | ​ | ​ | (42.4) | ​ | ​ | (0.9) | ​ | ​ | (9.4) | ​ | ​ | (52.7)
Total | ​ | $ | 1,335.4 |  | $ | 1,216.9 |  | $ | 695.8 |  | $ | 3,248.1
| (1) | Includes time and material and cost reimbursable plus fee contracts.
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the three months ended June 30, 2025
Segment | ​ | Fixed-Price | ​ ​ ​ | Unit-Price | ​ ​ ​ | Cost Reimbursable (1) | ​ ​ ​ | Total
Utilities | ​ | $ | 110.5 |  | $ | 443.8 |  | $ | 138.7 |  | $ | 693.0
Energy | ​ | ​ | 899.4 | ​ | ​ | 147.0 | ​ | ​ | 190.4 | ​ | ​ | 1,236.8
Intersegment eliminations | ​ | ​ | (32.1) | ​ | ​ | (6.5) | ​ | ​ | (0.5) | ​ | ​ | (39.1)
Total | ​ | $ | 977.8 |  | $ | 584.3 |  | $ | 328.6 |  | $ | 1,890.7
| (1) | Includes time and material and cost reimbursable plus fee contracts.
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the six months ended June 30, 2025
Segment | ​ | Fixed-Price | ​ | Unit-Price | ​ | Cost Reimbursable (1) | ​ | Total
Utilities | ​ | $ | 188.5 | ​ | ​ | 788.1 | ​ | ​ | 279.8 | ​ | $ | 1,256.4
Energy | ​ | ​ | 1,676.3 | ​ | ​ | 294.2 | ​ | ​ | 374.6 | ​ | ​ | 2,345.1
Intersegment eliminations | ​ | ​ | (51.3) | ​ | ​ | (9.9) | ​ | ​ | (1.5) | ​ | ​ | (62.7)
Total | ​ | $ | 1,813.5 |  | $ | 1,072.4 |  | $ | 652.9 |  | $ | 3,538.8
(1)Includes time and material and cost reimbursable plus fee contracts. ​

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