v3.26.1
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Financial Information by Reportable Segments
The following tables present the revenues and operating income for each of our reportable segments for the three and six months ended June 30, 2026 and 2025 (in thousands): 
 For the three months ended
June 30,
 20262025
Revenues from unrelated entities:
United States electrical construction and facilities services$1,662,501 $1,340,247 
United States mechanical construction and facilities services2,300,873 1,755,258 
United States building services837,706 793,259 
United States industrial services353,812 281,072 
Total United States operations5,154,892 4,169,836 
United Kingdom building services— 134,564 
Consolidated revenues
$5,154,892 $4,304,400 
NOTE 13 - Segment Information (Continued)

For the three months ended
June 30,
20262025
Total revenues:
United States electrical construction and facilities services$1,667,015 $1,364,158 
United States mechanical construction and facilities services2,357,907 1,779,871 
United States building services852,694 805,703 
United States industrial services354,135 287,411 
Less intersegment revenues(76,859)(67,307)
Total United States operations5,154,892 4,169,836 
United Kingdom building services— 134,564 
Consolidated revenues
$5,154,892 $4,304,400 

 For the six months ended
June 30,
 20262025
Revenues from unrelated entities:
United States electrical construction and facilities services$3,109,915 $2,428,091 
United States mechanical construction and facilities services4,327,214 3,327,860 
United States building services1,610,355 1,535,882 
United States industrial services735,641 640,074 
Total United States operations9,783,125 7,931,907 
United Kingdom building services— 239,865 
Consolidated revenues
$9,783,125 $8,171,772 

For the six months ended
June 30,
20262025
Total revenues:
United States electrical construction and facilities services$3,116,437 $2,478,353 
United States mechanical construction and facilities services4,408,664 3,364,985 
United States building services1,636,248 1,557,587 
United States industrial services736,218 651,743 
Less intersegment revenues(114,442)(120,761)
Total United States operations9,783,125 7,931,907 
United Kingdom building services— 239,865 
Consolidated revenues
$9,783,125 $8,171,772 
NOTE 13 - Segment Information (Continued)

For the three months ended
June 30,
20262025
Operating income (loss):
United States electrical construction and facilities services$231,417 $157,644 
United States mechanical construction and facilities services286,639 238,737 
United States building services63,375 50,045 
United States industrial services9,599 (419)
Total United States operations591,030 446,007 
United Kingdom building services— 8,425 
Corporate administration(43,690)(39,220)
Consolidated operating income
547,340 415,212 
Other items:
Net periodic pension income
— 55 
Interest income (expense), net4,322 (3,240)
Income before income taxes$551,662 $412,027 

For the six months ended
June 30,
20262025
Operating income (loss):
United States electrical construction and facilities services$405,898 $293,701 
United States mechanical construction and facilities services508,282 425,484 
United States building services103,824 86,468 
United States industrial services22,379 6,341 
Total United States operations1,040,383 811,994 
United Kingdom building services— 13,412 
Corporate administration(89,198)(91,438)
Consolidated operating income
951,185 733,968 
Other items:
Net periodic pension income
— 109 
Interest income, net
10,549 2,147 
Income before income taxes$961,734 $736,224 
NOTE 13 - Segment Information (Continued)
The following tables provide the significant expenses that are regularly provided to and reviewed by our CODM for each of our reportable segments for the three and six months ended June 30, 2026 and 2025 (in thousands): 
For the three months ended
June 30,
20262025
Cost of sales:
United States electrical construction and facilities services$1,307,721 $1,080,188 
United States mechanical construction and facilities services1,856,114 1,395,519 
United States building services664,295 634,690 
United States industrial services304,383 242,243 
Total United States operations4,132,513 3,352,640 
United Kingdom building services— 117,989 
Consolidated cost of sales
$4,132,513 $3,470,629 

For the six months ended
June 30,
20262025
Cost of sales:
United States electrical construction and facilities services$2,473,484 $1,956,431 
United States mechanical construction and facilities services3,505,032 2,661,229 
United States building services1,283,355 1,236,199 
United States industrial services634,925 550,338 
Total United States operations7,896,796 6,404,197 
United Kingdom building services— 211,086 
Consolidated cost of sales
$7,896,796 $6,615,283 

For the three months ended
June 30,
20262025
Selling, general and administrative expenses:
United States electrical construction and facilities services$123,363 $102,415 
United States mechanical construction and facilities services158,120 121,002 
United States building services110,036 108,524 
United States industrial services39,830 39,248 
Total United States operations431,349 371,189 
United Kingdom building services— 8,150 
Corporate administration
43,690 39,220 
Consolidated selling, general and administrative expenses$475,039 $418,559 
NOTE 13 - Segment Information (Continued)
For the six months ended
June 30,
20262025
Selling, general and administrative expenses:
United States electrical construction and facilities services$230,533 $177,959 
United States mechanical construction and facilities services313,900 241,147 
United States building services223,176 213,215 
United States industrial services78,337 83,395 
Total United States operations845,946 715,716 
United Kingdom building services— 15,367 
Corporate administration
89,198 91,438 
Consolidated selling, general and administrative expenses$935,144 $822,521 

The following tables present other financial information for each of our reportable segments for the three and six months ended June 30, 2026 and 2025 (in thousands): 
For the three months ended
June 30,
20262025
Depreciation and amortization of property, plant, and equipment:
United States electrical construction and facilities services$3,549 $2,464 
United States mechanical construction and facilities services7,904 5,365 
United States building services3,853 4,042 
United States industrial services3,684 3,290 
Total United States operations18,990 15,161 
United Kingdom building services— 1,068 
Corporate administration
401 328 
Total depreciation and amortization of property, plant, and equipment$19,391 $16,557 

For the six months ended
June 30,
20262025
Depreciation and amortization of property, plant, and equipment:
United States electrical construction and facilities services$6,653 $4,769 
United States mechanical construction and facilities services15,393 10,241 
United States building services7,744 8,083 
United States industrial services7,162 6,469 
Total United States operations36,952 29,562 
United Kingdom building services— 2,000 
Corporate administration
801 577 
Total depreciation and amortization of property, plant, and equipment$37,753 $32,139 
NOTE 13 - Segment Information (Continued)
For the three months ended
June 30,
20262025
Amortization of identifiable intangible assets:
United States electrical construction and facilities services$14,402 $12,950 
United States mechanical construction and facilities services9,459 5,978 
United States building services5,108 5,240 
United States industrial services5,902 5,921 
Total amortization of identifiable intangible assets$34,871 $30,089 
For the six months ended
June 30,
20262025
Amortization of identifiable intangible assets:
United States electrical construction and facilities services$27,992 $22,430 
United States mechanical construction and facilities services18,918 11,375 
United States building services10,350 10,805 
United States industrial services11,823 11,842 
Total amortization of identifiable intangible assets$69,083 $56,452 
For the three months ended
June 30,
20262025
Capital expenditures:
United States electrical construction and facilities services$6,517 $4,187 
United States mechanical construction and facilities services17,377 12,367 
United States building services3,173 4,770 
United States industrial services3,363 3,221 
Total United States operations30,430 24,545 
United Kingdom building services— 1,928 
Corporate administration
718 1,570 
Total capital expenditures$31,148 $28,043 
For the six months ended
June 30,
20262025
Capital expenditures:
United States electrical construction and facilities services$13,677 $8,809 
United States mechanical construction and facilities services31,608 23,346 
United States building services5,562 8,113 
United States industrial services6,825 6,526 
Total United States operations57,672 46,794 
United Kingdom building services— 4,384 
Corporate administration
2,188 2,996 
Total capital expenditures$59,860 $54,174 
NOTE 13 - Segment Information (Continued) 
The following table presents the total assets for each of our reportable segments as of June 30, 2026 and December 31, 2025 (in thousands):
June 30,
2026		December 31,
2025
Total assets:
United States electrical construction and facilities services$3,047,655 $2,686,933 
United States mechanical construction and facilities services3,794,196 3,206,671 
United States building services1,509,928 1,436,779 
United States industrial services582,898 524,883 
Total operations
8,934,677 7,855,266 
Corporate administration1,222,405 1,436,133 
Total assets$10,157,082 $9,291,399