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Revenue (Tables)

9 Months Ended

Sep. 30, 2025

Revenue from Contract with Customer [Abstract]

Summary of Contract Revenues by Type of Work and Customer

The Company’s contract revenues by type of work, for the periods indicated, are as follows:

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
Revenues		2025				2024				2025				2024
Capital		$	126,285			$	108,682			$	322,777			$	249,329
Coastal protection			39,807				43,913				225,638				178,034
Maintenance			22,991				38,578				77,288				132,556
Total dredging revenues			189,083				191,173				625,703				559,919
Offshore energy			6,122				—				6,122				—
Total revenues		$	195,205			$	191,173			$	631,825			$	559,919

The Company’s contract revenues by type of customer, for the periods indicated, are as follows:

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
Revenues		2025				2024				2025				2024
Federal government		$	90,306			$	85,876			$	315,655			$	339,352
State and local government			11,886				39,330				69,389				108,493
Private			86,891				65,967				240,659				112,074
Total dredging revenues			189,083				191,173				625,703				559,919
Offshore energy - private			6,122				—				6,122				—
Total revenues		$	195,205			$	191,173			$	631,825			$	559,919

Schedule of Accounts Receivable

Accounts receivable at September 30, 2025 and December 31, 2024 are as follows:

		September 30,				December 31,
		2025				2024
Completed contracts		$	579			$	660
Contracts in progress			93,073				105,159
Retainage			16,033				12,575
			109,685				118,394
Allowance for credit losses			(364	)			(364	)
Total accounts receivable—net		$	109,321			$	118,030

Components of Contracts in Progress

The components of contracts in progress at September 30, 2025 and December 31, 2024 are as follows:

		September 30,				December 31,
		2025				2024
Costs and earnings in excess of billings:
Costs and earnings for contracts in progress		$	367,562			$	206,933
Amounts billed			(328,880	)			(153,208	)
Costs and earnings in excess of billings for contracts in progress			38,682				53,725
Costs and earnings in excess of billings for completed contracts			11,658				20,472
Total contract revenues in excess of billings		$	50,340			$	74,197
Current portion of contract revenues in excess of billings		$	50,340			$	74,197
Billings in excess of costs and earnings:
Amounts billed		$	(490,333	)		$	(303,810	)
Costs and earnings for contracts in progress			453,344				278,014
Total billings in excess of contract revenues		$	(36,989	)		$	(25,796	)

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Tabular disclosure of long-term contract or program.

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- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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- Definition

Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(4))
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