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Revenue Recognition (Tables)

9 Months Ended

Sep. 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 September 30, 2025 and 2024 were as follows:


	Three months ended September 30, 2025
	T&D				C&I				Total
(dollars in thousands)	Amount		Percent		Amount		Percent		Amount		Percent
Fixed price	$	160,811	31.9	%	$	381,026	85.3	%	$	541,837	57.0	%
Unit price	204,438		40.6		20,259		4.5		224,697		23.6
T&E	138,187		27.5		45,679		10.2		183,866		19.4

	$	503,436	100.0	%	$	446,964	100.0	%	$	950,400	100.0	%


	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	%

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


	Nine months ended September 30, 2025
	T&D				C&I				Total
(dollars in thousands)	Amount		Percent		Amount		Percent		Amount		Percent
Fixed price	$	512,379	34.8	%	$	1,004,813	82.8	%	$	1,517,192	56.5	%
Unit price	547,562		37.2		58,172		4.8		605,734		22.6
T&E	411,538		28.0		149,881		12.4		561,419		20.9

	$	1,471,479	100.0	%	$	1,212,866	100.0	%	$	2,684,345	100.0	%


	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	%

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


	Three months ended September 30, 2025					Three months ended September 30, 2024
(dollars in thousands)	Amount		Percent		Segment	Amount		Percent		Segment
Transmission	$	293,022	30.8	%	T&D	$	276,663	31.2	%	T&D
Distribution	210,414		22.2		T&D	205,213		23.1		T&D
Electrical construction	446,964		47.0		C&I	406,167		45.7		C&I
Total revenue	$	950,400	100.0	%		$	888,043	100.0	%

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


	Nine months ended September 30, 2025					Nine months ended September 30, 2024
(dollars in thousands)	Amount		Percent		Segment	Amount		Percent		Segment
Transmission	$	868,244	32.3	%	T&D	$	873,077	34.5	%	T&D
Distribution	603,235		22.5		T&D	557,403		22.0		T&D
Electrical construction	1,212,866		45.2		C&I	1,102,015		43.5		C&I
Total revenue	$	2,684,345	100.0	%		$	2,532,495	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, 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 September 30, 2025
(in thousands)	Total		Amount estimated to be recognized within 12 months		Amount estimated to be recognized after 12 months
T&D	$	619,085	$	607,085	$	12,000
C&I	1,722,288		1,506,053		216,235
Total	$	2,341,373	$	2,113,138	$	228,235