CONTRACT ASSETS AND LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Costs and Estimated Profits on Uncompleted Contracts Included in Condensed Consolidated Balance Sheets

Costs and estimated profits on uncompleted contracts and related amounts billed were as follows (in thousands):


	March 31, 2026		December 31, 2025
Costs incurred on uncompleted contracts	$	232,496	$	147,866
Estimated profits, thereon	112,709		71,260
Total costs and estimated profits on uncompleted contracts	345,205		219,126
Less: billings to date	311,559		180,960
Net	$	33,646	$	38,166

Such amounts were included in the accompanying unaudited condensed consolidated balance sheets for March 31, 2026 and December 31, 2025 under the following captions (in thousands):


	March 31, 2026		December 31, 2025
Costs and estimated profits in excess of billings	$	58,971	$	53,855
Billings in excess of costs and estimated profits	(25,325)		(15,689)

Net	$	33,646	$	38,166