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Revenue Recognition (Tables)

9 Months Ended

Sep. 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 September 30, 2024 and 2023 were as follows:


	Three months ended September 30, 2024
	T&D				C&I				Total
(dollars in thousands)	Amount		Percent		Amount		Percent		Amount		Percent
Fixed price	$	197,087	40.9	%	$	331,103	81.5	%	$	528,190	59.5	%
Unit price	169,337		35.1		23,849		5.9		193,186		21.7
T&E	115,452		24.0		51,215		12.6		166,667		18.8

	$	481,876	100.0	%	$	406,167	100.0	%	$	888,043	100.0	%


	Three months ended September 30, 2023
	T&D				C&I				Total
(dollars in thousands)	Amount		Percent		Amount		Percent		Amount		Percent
Fixed price	$	283,440	51.7	%	$	319,546	81.7	%	$	602,986	64.2	%
Unit price	143,218		26.1		26,899		6.9		170,117		18.1
T&E	121,937		22.2		44,436		11.4		166,373		17.7

	$	548,595	100.0	%	$	390,881	100.0	%	$	939,476	100.0	%

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


	Nine months ended September 30, 2024
	T&D				C&I				Total
(dollars in thousands)	Amount		Percent		Amount		Percent		Amount		Percent
Fixed price	$	654,969	45.8	%	$	902,582	81.9	%	$	1,557,551	61.5	%
Unit price	443,589		31.0		58,988		5.4		502,577		19.8
T&E	331,922		23.2		140,445		12.7		472,367		18.7

	$	1,430,480	100.0	%	$	1,102,015	100.0	%	$	2,532,495	100.0	%


	Nine months ended September 30, 2023
	T&D				C&I				Total
(dollars in thousands)	Amount		Percent		Amount		Percent		Amount		Percent
Fixed price	$	774,022	51.7	%	$	938,576	82.2	%	$	1,712,598	64.9	%
Unit price	396,855		26.5		68,099		6.0		464,954		17.6
T&E	326,778		21.8		135,378		11.8		462,156		17.5

	$	1,497,655	100.0	%	$	1,142,053	100.0	%	$	2,639,708	100.0	%

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


	Three months ended September 30, 2024					Three months ended September 30, 2023
(dollars in thousands)	Amount		Percent		Segment	Amount		Percent		Segment
Transmission	$	276,663	31.2	%	T&D	$	357,708	38.1	%	T&D
Distribution	205,213		23.1		T&D	190,887		20.3		T&D
Electrical construction	406,167		45.7		C&I	390,881		41.6		C&I
Total revenue	$	888,043	100.0	%		$	939,476	100.0	%

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


	Nine months ended September 30, 2024					Nine months ended September 30, 2023
(dollars in thousands)	Amount		Percent		Segment	Amount		Percent		Segment
Transmission	$	873,077	34.5	%	T&D	$	978,078	37.0	%	T&D
Distribution	557,403		22.0		T&D	519,577		19.7		T&D
Electrical construction	1,102,015		43.5		C&I	1,142,053		43.3		C&I
Total revenue	$	2,532,495	100.0	%		$	2,639,708	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 September 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 September 30, 2024
(in thousands)	Total		Amount estimated to be recognized within 12 months		Amount estimated to be recognized after 12 months
T&D	$	582,030	$	576,179	$	5,851
C&I	1,776,724		1,263,534		513,190
Total	$	2,358,754	$	1,839,713	$	519,041