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Revenue from Contracts with Customers (Tables)
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of the Disaggregation of Revenue
The following tables present revenue disaggregated by contract type:
Year ended December 31, 2025
E&M
T&D
Total
(In thousands)
Fixed-price
$1,534,357 $439,481 $1,973,838 
Cost reimbursable*
1,347,305 258,929 1,606,234 
Unit-price
39,010 150,111 189,121 
Total contract revenues
2,920,672 848,521 3,769,193 
Eliminations(10,017)(12,789)(22,806)
Total operating revenues
$2,910,655 $835,732 $3,746,387 
__________________
*Includes time and material, time and equipment, and cost reimbursable plus fee contracts.
Year ended December 31, 2024
E&M
T&D
Total

(In thousands)
Fixed-price
$1,299,059 $385,868 $1,684,927 
Cost reimbursable*
670,424 295,679 966,103 
Unit-price
61,964 155,599 217,563 
Total contract revenues
2,031,447 837,146 2,868,593 
Eliminations(7,536)(11,372)(18,908)
Total operating revenues
$2,023,911 $825,774 $2,849,685 
__________________
*Includes time and material, time and equipment, and cost reimbursable plus fee contracts.
Year ended December 31, 2023
E&M
T&D
Total

(In thousands)
Fixed-price
$1,049,626 $353,836 $1,403,462 
Cost reimbursable*
1,003,455 285,947 1,289,402 
Unit-price
81,786 94,794 176,580 
Total contract revenues
2,134,867 734,577 2,869,444 
Eliminations(9,324)(5,730)(15,054)
Total operating revenues
$2,125,543 $728,847 $2,854,390 
___________________
*Includes time and material, time and equipment, and cost reimbursable plus fee contracts.
The following table presents revenue disaggregated by customer type:
Year ended December 31,
202520242023
(In thousands)
Commercial
$2,074,578 $1,197,760 $1,204,016 
Institutional
352,671 364,611 262,344 
Industrial
316,581 322,661 473,339 
Service & other
114,207 109,440 139,766 
Renewables
62,635 36,975 55,402 
Total E&M
2,920,672 2,031,447 2,134,867 
Utility
749,500 753,725 677,434 
Transportation
99,021 83,421 57,143 
Total T&D
848,521 837,146 734,577 
Eliminations
(22,806)(18,908)(15,054)
Total operating revenues
$3,746,387 $2,849,685 $2,854,390 
Summary of Uncompleted Contracts and Contract Assets and Contract Liabilities
Costs, estimated earnings and billings on uncompleted contracts were summarized as follows as of December 31:
20252024
(In thousands)
Costs incurred on uncompleted contracts
$8,036,495 $7,034,838 
Estimated earnings
1,172,516 995,766 
Costs and estimated earnings on uncompleted contracts9,209,011 8,030,604 
Less: billings to date
(9,258,355)(8,070,859)
Net contract liabilities
$(49,344)$(40,255)
Contract assets and Contract liabilities, net consisted of the following as of December 31:
20252024
(In thousands)
Unbilled revenue
$187,902 $124,007 
Retainage
67,865 43,042 
Contract assets
$255,767 $167,049 
Deferred revenue
$417,415 $278,409 
Accrued loss provision1,965 1,021 
Less: retainage
(114,269)(72,126)
Contract liabilities, net
$305,111 $207,304 
The following table presents the opening and closing balances of net contract assets (liabilities):
20252024
Contract assets
Contract liabilities, net
Net contract assets (liabilities)
Contract assets
Contract liabilities, net
Net contract assets (liabilities)
(In thousands)
Balance at beginning of year
$167,049 $(207,304)$(40,255)$206,235 $(140,108)$66,127 
Change during year
88,718 (97,807)(9,089)(39,186)(67,196)(106,382)
Balance at end of year
$255,767 $(305,111)$(49,344)$167,049 $(207,304)$(40,255)
Summary of Remaining Performance Obligations and Expected Revenue Recognition The table below shows additional information regarding the Company’s remaining performance obligations as of December 31, 2025, including an estimate of when the Company expects to recognize its remaining performance obligations as revenues:
Within 12 Months
Greater than 12 Months
(In thousands)
E&M
$2,067,484 $382,647 
T&D
266,979 80,548 
Total $2,334,463 $463,195