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Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Schedule of revenue by contract and market type

The components of the Company’s revenue by contract type for the three months ended June 30, 2024 and 2023 were as follows:


	Three months ended June 30, 2024
	T&D				C&I				Total
(dollars in thousands)	Amount		Percent		Amount		Percent		Amount		Percent
Fixed price	$	214,882	46.9	%	$	306,679	82.7	%	$	521,561	62.9	%
Unit price	138,127		30.1		18,803		5.1		156,930		18.9
T&E	105,200		23.0		45,199		12.2		150,399		18.2

	$	458,209	100.0	%	$	370,681	100.0	%	$	828,890	100.0	%


	Three months ended June 30, 2023
	T&D				C&I				Total
(dollars in thousands)	Amount		Percent		Amount		Percent		Amount		Percent
Fixed price	$	261,348	51.9	%	$	313,409	81.4	%	$	574,757	64.7	%
Unit price	139,929		27.8		23,558		6.1		163,487		18.4
T&E	102,460		20.3		47,912		12.5		150,372		16.9

	$	503,737	100.0	%	$	384,879	100.0	%	$	888,616	100.0	%

The components of the Company’s revenue by contract type for the six months ended June 30, 2024 and 2023 were as follows:


	Six months ended June 30, 2024
	T&D				C&I				Total
(dollars in thousands)	Amount		Percent		Amount		Percent		Amount		Percent
Fixed price	$	457,882	48.3	%	$	571,479	82.1	%	$	1,029,361	62.6	%
Unit price	274,252		28.9		35,139		5.1		309,391		18.8
T&E	216,470		22.8		89,230		12.8		305,700		18.6

	$	948,604	100.0	%	$	695,848	100.0	%	$	1,644,452	100.0	%


	Six months ended June 30, 2023
	T&D				C&I				Total
(dollars in thousands)	Amount		Percent		Amount		Percent		Amount		Percent
Fixed price	$	490,582	51.7	%	$	619,030	82.4	%	$	1,109,612	65.3	%
Unit price	253,637		26.7		41,200		5.5		294,837		17.3
T&E	204,841		21.6		90,942		12.1		295,783		17.4

	$	949,060	100.0	%	$	751,172	100.0	%	$	1,700,232	100.0	%

The components of the Company’s revenue by market type for the three months ended June 30, 2024 and 2023 were as follows:


	Three months ended June 30, 2024					Three months ended June 30, 2023
(dollars in thousands)	Amount		Percent		Segment	Amount		Percent		Segment
Transmission	$	282,488	34.1	%	T&D	$	322,272	36.3	%	T&D
Distribution	175,721		21.2		T&D	181,465		20.4		T&D
Electrical construction	370,681		44.7		C&I	384,879		43.3		C&I
Total revenue	$	828,890	100.0	%		$	888,616	100.0	%

The components of the Company’s revenue by market type for the six months ended June 30, 2024 and 2023 were as follows:


	Six months ended June 30, 2024					Six months ended June 30, 2023
(dollars in thousands)	Amount		Percent		Segment	Amount		Percent		Segment
Transmission	$	596,414	36.3	%	T&D	$	620,370	36.5	%	T&D
Distribution	352,190		21.4		T&D	328,690		19.3		T&D
Electrical construction	695,848		42.3		C&I	751,172		44.2		C&I
Total revenue	$	1,644,452	100.0	%		$	1,700,232	100.0	%

Schedule of amount of the remaining performance obligations that the company reasonably estimates will not be recognized within the next twelve months

The following table summarizes the amount of remaining performance obligations as of June 30, 2024 that the Company expects to be realized and the amount of the remaining performance obligations that the Company reasonably estimates will be recognized within the next twelve months, and the amount estimated to be recognized after the next twelve months.


	Remaining Performance Obligations at June 30, 2024
(in thousands)	Total		Amount estimated to be recognized within 12 months		Amount estimated to be recognized after 12 months
T&D	$	652,334	$	604,209	$	48,125
C&I	1,685,712		1,272,942		412,770
Total	$	2,338,046	$	1,877,151	$	460,895