XML 35 R24.htm IDEA: XBRL DOCUMENT

Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2025

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, 2025 and 2024 were as follows:


	Three months ended June 30, 2025
	T&D				C&I				Total
(dollars in thousands)	Amount		Percent		Amount		Percent		Amount		Percent
Fixed price	$	178,118	35.2	%	$	329,982	83.8	%	$	508,100	56.4	%
Unit price	191,022		37.7		20,246		5.1		211,268		23.5
T&E	137,133		27.1		43,824		11.1		180,957		20.1

	$	506,273	100.0	%	$	394,052	100.0	%	$	900,325	100.0	%


	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	%

The components of the Company’s revenue by contract type for the six months ended June 30, 2025 and 2024 were as follows:


	Six months ended June 30, 2025
	T&D				C&I				Total
(dollars in thousands)	Amount		Percent		Amount		Percent		Amount		Percent
Fixed price	$	351,568	36.3	%	$	623,787	81.4	%	$	975,355	56.3	%
Unit price	343,124		35.4		37,913		5.0		381,037		22.0
T&E	273,351		28.3		104,202		13.6		377,553		21.7

	$	968,043	100.0	%	$	765,902	100.0	%	$	1,733,945	100.0	%


	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	%

The components of the Company’s revenue by market type for the three months ended June 30, 2025 and 2024 were as follows:


	Three months ended June 30, 2025					Three months ended June 30, 2024
(dollars in thousands)	Amount		Percent		Segment	Amount		Percent		Segment
Transmission	$	305,449	33.9	%	T&D	$	282,488	34.1	%	T&D
Distribution	200,824		22.3		T&D	175,721		21.2		T&D
Electrical construction	394,052		43.8		C&I	370,681		44.7		C&I
Total revenue	$	900,325	100.0	%		$	828,890	100.0	%

The components of the Company’s revenue by market type for the six months ended June 30, 2025 and 2024 were as follows:


	Six months ended June 30, 2025					Six months ended June 30, 2024
(dollars in thousands)	Amount		Percent		Segment	Amount		Percent		Segment
Transmission	$	575,222	33.1	%	T&D	$	596,414	36.3	%	T&D
Distribution	392,821		22.7		T&D	352,190		21.4		T&D
Electrical construction	765,902		44.2		C&I	695,848		42.3		C&I
Total revenue	$	1,733,945	100.0	%		$	1,644,452	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, 2025 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, 2025
(in thousands)	Total		Amount estimated to be recognized within 12 months		Amount estimated to be recognized after 12 months
T&D	$	629,097	$	592,244	$	36,853
C&I	1,702,813		1,264,250		438,563
Total	$	2,331,910	$	1,856,494	$	475,416