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Segment Information (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of segment's internal financial reports

The information in the following table is derived from the segment’s internal financial reports used for corporate management purposes:


	For the Three Months Ended June 30, 2025
(in thousands)	T&D		C&I		General Corporate		Consolidated
Contract revenues	$	506,273	$	394,052	$	—	$	900,325
Operating costs (1)	465,808		372,060		22,670		860,538
Income from operations	40,465		21,992		(22,670)		39,787
Other income (expense):
Interest income							45
Interest expense							(1,905)
Other expense, net							(533)
Income before provision for income taxes							37,394
Income tax expense							10,928
Net income							$	26,466


	For the Three Months Ended June 30, 2024
(in thousands)	T&D		C&I		General Corporate		Consolidated
Contract revenues	$	458,209	$	370,681	$	—	$	828,890
Operating costs (1)	466,509		369,073		14,015		849,597
Income (loss) from operations	(8,300)		1,608		(14,015)		(20,707)
Other income (expense):
Interest income							81
Interest expense							(1,241)
Other expense, net							(270)
Loss before provision for income taxes							(22,137)
Income tax benefit							(6,860)
Net loss							$	(15,277)


	For the Six Months Ended June 30, 2025
(in thousands)	T&D		C&I		General Corporate		Consolidated
Contract revenues	$	968,043	$	765,902	$	—	$	1,733,945
Operating costs (1)	891,357		726,533		41,978		1,659,868
Income from operations	76,686		39,369		(41,978)		74,077
Other income (expense):
Interest income							236
Interest expense							(3,319)
Other expense, net							(833)
Income before provision for income taxes							70,161
Income tax expense							20,387
Net income							$	49,774


	For the Six Months Ended June 30, 2024
(in thousands)	T&D		C&I		General Corporate		Consolidated
Contract revenues	$	948,604	$	695,848	$	—	$	1,644,452
Operating costs (1)	927,068		682,817		31,003		1,640,888
Income from operations	21,536		13,031		(31,003)		3,564
Other income (expense):
Interest income							223
Interest expense							(2,295)
Other expense, net							(533)
Income before provision for income taxes							959
Income tax benefit							(2,703)
Net income							$	3,662

(1) Operating costs include T&D, C&I and general corporate portion of contract costs, selling, general and administrative expenses, amortization of intangible assets and gain on sale of property and equipment. The expenses found in these other segment items are generally viewed as operating costs by the CODM and are not considered individually significant segment reporting items.

Schedule of assets allocation by segment

The table below reflects the identifiable assets for each segment.


(in thousands)	June 30, 2025		December 31, 2024
T&D	$	584,314	$	601,546
C&I	549,847		539,687
General Corporate	452,821		432,826
	$	1,586,982	$	1,574,059

Schedule of depreciation and amortization by segment

An allocation of total depreciation, including depreciation of shared construction equipment, and amortization to each segment is as follows:


	For the Six Months Ended June 30,
(in thousands)	2025		2024
Depreciation and amortization
T&D	$	28,286	$	28,017
C&I	4,252		4,087
	$	32,538	$	32,104