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Segment Information (Tables)

9 Months Ended

Sep. 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 September 30, 2025
(in thousands)	T&D		C&I		General Corporate		Consolidated
Contract revenues	$	503,436	$	446,964	$	—	$	950,400
Operating costs (1)	461,975		418,381		23,773		904,129
Income from operations	41,461		28,583		(23,773)		46,271
Other income (expense):
Interest income							197
Interest expense							(1,440)
Other expense, net							(297)
Income before provision for income taxes							44,731
Income tax expense							12,637
Net income							$	32,094


	For the Three Months Ended September 30, 2024
(in thousands)	T&D		C&I		General Corporate		Consolidated
Contract revenues	$	481,876	$	406,167	$	—	$	888,043
Operating costs (1)	464,308		385,858		17,516		867,682
Income (loss) from operations	17,568		20,309		(17,516)		20,361
Other income (expense):
Interest income							73
Interest expense							(2,016)
Other income, net							112
Income before provision for income taxes							18,530
Income tax expense							7,881
Net income							$	10,649


	For the Nine Months Ended September 30, 2025
(in thousands)	T&D		C&I		General Corporate		Consolidated
Contract revenues	$	1,471,479	$	1,212,866	$	—	$	2,684,345
Operating costs (1)	1,353,332		1,144,913		65,752		2,563,997
Income from operations	118,147		67,953		(65,752)		120,348
Other income (expense):
Interest income							433
Interest expense							(4,759)
Other expense, net							(1,130)
Income before provision for income taxes							114,892
Income tax expense							33,024
Net income							$	81,868


	For the Nine Months Ended September 30, 2024
(in thousands)	T&D		C&I		General Corporate		Consolidated
Contract revenues	$	1,430,480	$	1,102,015	$	—	$	2,532,495
Operating costs (1)	1,391,376		1,068,675		48,519		2,508,570
Income from operations	39,104		33,340		(48,519)		23,925
Other income (expense):
Interest income							296
Interest expense							(4,311)
Other expense, net							(421)
Income before provision for income taxes							19,489
Income tax expense							5,178
Net income							$	14,311

(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)	September 30, 2025		December 31, 2024
T&D	$	604,688	$	601,546
C&I	533,143		539,687
General Corporate	507,501		432,826
	$	1,645,332	$	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 Nine Months Ended September 30,
(in thousands)	2025		2024
Depreciation and amortization
T&D	$	42,737	$	42,386
C&I	6,540		6,411
	$	49,277	$	48,797