v3.26.1
Segments and Related Information (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Financial Information by Reportable Segment The tables below, which may contain slight summation differences due to rounding, reflect certain financial data for each reportable segment.
Three Months Ended June 30,
Communications
Clean Energy and Infrastructure
Power Delivery
Pipeline Infrastructure
Other
Eliminations
Total Reportable Segments
2026:
Revenue (a)
$888.9 $1,622.1 $1,245.8 $642.8 $— $(26.0)$4,373.6 
Costs of revenue, excluding depreciation and amortization799.6 1,435.0 1,089.8 510.0 — (21.8)3,812.6 
Other segment items (b)
16.2 58.9 43.0 14.3 (13.6)— 118.8 
EBITDA$73.1 $128.2 $113.0 $118.5 $13.6 $(4.2)$442.2 
2025:
Revenue (a)
$836.9 $1,131.4 $1,045.6 $539.7 $— $(8.9)$3,544.7 
Costs of revenue, excluding depreciation and amortization733.3 1,002.9 919.2 462.2 — (8.9)3,108.7 
Other segment items (b)
21.0 45.2 35.1 15.4 (7.2)— 109.5 
EBITDA$82.6 $83.3 $91.3 $62.1 $7.2 $— $326.5 
Six Months Ended June 30,
Communications
Clean Energy and Infrastructure
Power Delivery
Pipeline Infrastructure
Other
Eliminations
Total Reportable Segments
2026:
Revenue (a)
$1,691.0 $2,951.6 $2,292.0 $1,325.3 $— $(57.5)$8,202.4 
Costs of revenue, excluding depreciation and amortization1,534.1 2,619.0 2,025.3 1,026.0 — (48.1)7,156.3 
Other segment items (b)
37.0 115.4 81.7 35.9 (3.2)— 266.8 
EBITDA$119.9 $217.2 $185.0 $263.4 $3.2 $(9.4)$779.3 
2025:
Revenue (a)
$1,517.8 $2,047.2 $1,945.3 $896.2 $— $(14.1)$6,392.4 
Costs of revenue, excluding depreciation and amortization1,349.3 1,810.4 1,736.6 762.5 — (14.0)5,644.8 
Other segment items (b)
39.1 96.4 66.0 27.1 (15.2)(0.1)213.3 
EBITDA$129.4 $140.4 $142.7 $106.6 $15.2 $— $534.3 
(a)    Total consolidated revenue equals total reportable segment revenue of $4,373.6 million and $3,544.7 million for the three months ended June 30, 2026 and 2025, respectively, and $8,202.4 million and $6,392.4 million for the six months ended June 30, 2026 and 2025, respectively, as there is no revenue recorded within Corporate results.
(b)    Other segment items for each reportable segment include general and administrative expenses, equity in earnings or losses of unconsolidated affiliates, net, and other income or expense, net.
Three Months Ended
June 30,
Six Months Ended
June 30,
Depreciation and Amortization:2026
2025
2026
2025
Communications
$15.7 $13.4 $33.8 $29.6 
Clean Energy and Infrastructure
37.1 26.9 73.2 54.6 
Power Delivery
32.1 35.0 63.8 72.1 
Pipeline Infrastructure
36.8 25.1 70.8 50.9 
Other
— — — — 
Corporate
1.9 2.2 3.9 4.3 
Consolidated depreciation and amortization$123.6 $102.6 $245.5 $211.5 
Assets:
June 30, 2026
December 31, 2025
Communications
$1,995.0 $1,962.3 
Clean Energy and Infrastructure
3,406.4 2,816.6 
Power Delivery
2,811.2 2,621.6 
Pipeline Infrastructure
2,109.3 1,928.7 
Other
369.6 364.0 
Corporate
234.0 230.3 
Consolidated assets$10,925.5 $9,923.5 
Three Months Ended
June 30,
Six Months Ended
June 30,
Capital Expenditures:2026
2025
2026
2025
Communications
$6.4 $9.1 $9.8 $16.2 
Clean Energy and Infrastructure
13.9 11.4 27.5 19.3 
Power Delivery
25.0 19.7 57.0 40.9 
Pipeline Infrastructure
32.3 21.6 73.5 31.6 
Other
— — — — 
Corporate
13.9 2.0 20.5 3.1 
Consolidated capital expenditures$91.5 $63.8 $188.3 $111.1 
Reconciliation of Consolidated Income before Income Taxes to EBITDA
Three Months Ended
June 30,
Six Months Ended
June 30,
Reconciliation of Segment EBITDA to Income Before Income Taxes:
2026202520262025
Segment EBITDA$442.2 $326.5 $779.3 $534.3 
Less:
Interest expense, net47.2 43.9 90.6 82.9 
Depreciation86.1 69.9 169.4 146.2 
Amortization37.5 32.7 76.1 65.3 
Corporate
77.7 59.3 158.0 110.2 
Income before income taxes$193.7 $120.8 $285.2 $129.7