v3.25.2
Revenue
 12 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block] Revenue
Remaining Performance Obligations
We had $1.0 billion of remaining performance obligations yet to be satisfied as of June 30, 2025. We expect to recognize approximately $582.3 million of our remaining performance obligations as revenue within the next twelve months.
Contract Balances
Contract terms with customers include the timing of billing and payment, which usually differs from the timing of revenue recognition. As a result, we carry contract assets and liabilities in our balance sheet. These contract assets and liabilities are calculated on a contract-by-contract basis and are classified as current. We present our contract assets in the balance sheet as Costs and Estimated Earnings in Excess of Billings on Uncompleted Contracts ("CIE"). CIE consists of revenue recognized in excess of billings. We present our contract liabilities in the balance sheet as Billings on Uncompleted Contracts in Excess of Costs and Estimated Earnings ("BIE"). BIE consists of billings in excess of revenue recognized. The following table provides information about CIE and BIE:

June 30,
2025		June 30,
2024		Change
(In thousands)
Costs and estimated earnings in excess of billings on uncompleted contracts$29,764 $33,893 $(4,129)
Billings on uncompleted contracts in excess of costs and estimated earnings(323,593)(171,308)(152,285)
Net contract liabilities$(293,829)$(137,415)$(156,414)
The difference between the beginning and ending balances of our CIE and BIE primarily results from the timing of revenue recognized relative to its billings. The amount of revenue recognized during the fiscal year ended June 30, 2025 that was included in the prior period BIE balance was $168.5 million.
Progress billings in accounts receivable at June 30, 2025 and June 30, 2024 included retentions to be collected within one year of $29.0 million and $11.6 million, respectively. Contract retentions collectable beyond one year are included in Other assets, non-current in the Consolidated Balance Sheets and totaled $61.5 million and $28.6 million as of June 30, 2025 and June 30, 2024, respectively.
Unpriced Change Orders and Claims
Costs and estimated earnings in excess of billings on uncompleted contracts included revenues for unpriced change orders and claims of $11.4 million and $9.9 million at June 30, 2025 and 2024, respectively. The amounts ultimately realized may be different than the recorded amounts resulting in adjustments to future earnings. Generally we expect collection of amounts related to unpriced change orders and claims within twelve months. However, customers may not pay these amounts until final resolution of related claims, which may extend beyond one year.
Disaggregated Revenue
Revenue disaggregated by reportable segment is presented in Note 13 - Segment Information. The following series of tables presents revenue disaggregated by geographic area where the work was performed and by contract type:

Geographic Disaggregation:
Fiscal Years Ended
June 30,
2025		June 30,
2024		June 30,
2023
(In thousands)
United States$719,388 $662,449 $720,140 
Canada41,228 56,420 61,691 
Other international8,670 9,344 13,189 
Total Revenue$769,286 $728,213 $795,020 
Contract Type Disaggregation:

Fiscal Years Ended
June 30,
2025		June 30,
2024		June 30,
2023
(In thousands)
Fixed-price contracts$560,717 $455,548 $419,426 
Time and materials and other cost reimbursable contracts208,569 272,665 375,594 
Total Revenue$769,286 $728,213 $795,020 
Revisions in Estimates
We recognize changes in contract estimates on a cumulative catch-up basis in the period in which the changes are identified. Such changes in contract estimates can result in the recognition of revenue in a current period for performance obligations which were satisfied or partially satisfied in prior period. Changes in contract estimates may also result in the reversal of previously recognized revenue if the current estimate differs from the previous estimate. If at any time the estimate of contract profitability indicates an anticipated loss on the contract, we recognize the total loss in the period it is identified.
During fiscal 2025, lower than anticipated labor productivity on a crude terminal project in the Storage and Terminal Solutions segment resulted in a $5.1 million reduction of gross profit during the fiscal year. This project was completed in early fiscal 2026. Additionally, we lowered our recovery expectations on a legacy project completed in fiscal 2021 that is currently in arbitration which resulted in $6.4 million reduction in revenue.
During fiscal 2023, unfavorable changes in the estimated recovery of change orders and increased forecasted costs to complete and closeout certain midstream gas processing capital work in the Process and Industrial Facilities segment resulted in a $12.6 million reduction of gross profit during the fiscal year. These charges were primarily the result of the client not approving adequate compensation to us for the impact that excessive scope changes had on our ability to progress the work according to forecast and for the impacts of global supply chain issues and inflation. We achieved substantial completion on this work in early fiscal 2024.