v3.26.1
Revenue (Tables)
6 Months Ended
Jun. 30, 2026
Revenue  
Schedule of contract assets

Contract assets consist of the following (in millions):

June 30, 

December 31, 

  ​ ​ ​

2026

  ​ ​ ​

2025

Unbilled revenue

$

584.4

$

569.7

Retention receivable

291.3

311.2

Contract materials (not yet installed)

 

62.0

 

56.0

$

937.7

$

936.9

Schedule of contract liabilities

Contract liabilities consist of the following (in millions):

June 30, 

December 31, 

  ​ ​ ​

2026

  ​ ​ ​

2025

Deferred revenue

$

667.0

$

629.2

Accrued loss provision

 

16.1

 

4.4

$

683.1

$

633.6

Schedule of revenue disaggregation by various categories

MSA and Non-MSA revenue was as follows (in millions):

For the three months ended June 30, 2026

Segment

  ​ ​ ​

MSA

  ​ ​ ​

Non-MSA

  ​ ​ ​

Total

Utilities

$

583.5

 

$

129.1

 

$

712.6

Energy

137.1

862.8

999.9

Intersegment eliminations

(24.3)

(24.3)

Total

$

720.6

 

$

967.6

 

$

1,688.2

For the six months ended June 30, 2026

Segment

  ​ ​ ​

MSA

  ​ ​ ​

Non-MSA

  ​ ​ ​

Total

Utilities

$

1,057.1

288.4

$

1,345.5

Energy

223.3

1,732.0

1,955.3

Intersegment eliminations

(52.7)

(52.7)

Total

$

1,280.4

 

$

1,967.7

 

$

3,248.1

For the three months ended June 30, 2025

Segment

MSA

  ​ ​ ​

Non-MSA

  ​ ​ ​

Total

Utilities

$

539.4

 

$

153.6

 

$

693.0

Energy

63.9

1,172.9

1,236.8

Intersegment eliminations

(0.4)

(38.7)

(39.1)

Total

$

602.9

 

$

1,287.8

 

$

1,890.7

For the six months ended June 30, 2025

Segment

MSA

Non-MSA

Total

Utilities

$

991.5

$

264.9

$

1,256.4

Energy

102.3

2,242.8

2,345.1

Intersegment eliminations

(0.9)

(61.8)

(62.7)

Total

$

1,092.9

 

$

2,445.9

 

$

3,538.8

Revenue by contract type was as follows (in millions):

For the three months ended June 30, 2026

Segment

  ​ ​ ​

Fixed-Price

  ​ ​ ​

Unit-Price

  ​ ​ ​

Cost Reimbursable (1)

  ​ ​ ​

Total

Utilities

$

106.9

 

$

475.7

 

$

130.0

 

$

712.6

Energy

543.8

183.2

272.9

999.9

Intersegment eliminations

(16.7)

0.7

(8.3)

(24.3)

Total

$

634.0

 

$

659.6

 

$

394.6

 

$

1,688.2

(1)Includes time and material and cost reimbursable plus fee contracts.

For the six months ended June 30, 2026

Segment

  ​ ​ ​

Fixed-Price

  ​ ​ ​

Unit-Price

  ​ ​ ​

Cost Reimbursable (1)

  ​ ​ ​

Total

Utilities

$

219.0

$

874.8

$

251.7

$

1,345.5

Energy

1,158.8

343.0

453.5

1,955.3

Intersegment eliminations

(42.4)

(0.9)

(9.4)

(52.7)

Total

$

1,335.4

 

$

1,216.9

 

$

695.8

 

$

3,248.1

(1)Includes time and material and cost reimbursable plus fee contracts.

For the three months ended June 30, 2025

Segment

Fixed-Price

  ​ ​ ​

Unit-Price

  ​ ​ ​

Cost Reimbursable (1)

  ​ ​ ​

Total

Utilities

$

110.5

 

$

443.8

 

$

138.7

 

$

693.0

Energy

899.4

147.0

190.4

1,236.8

Intersegment eliminations

(32.1)

(6.5)

(0.5)

(39.1)

Total

$

977.8

 

$

584.3

 

$

328.6

 

$

1,890.7

(1)Includes time and material and cost reimbursable plus fee contracts.

For the six months ended June 30, 2025

Segment

Fixed-Price

Unit-Price

Cost Reimbursable (1)

Total

Utilities

$

188.5

788.1

279.8

$

1,256.4

Energy

1,676.3

294.2

374.6

2,345.1

Intersegment eliminations

(51.3)

(9.9)

(1.5)

(62.7)

Total

$

1,813.5

 

$

1,072.4

 

$

652.9

 

$

3,538.8

(1)Includes time and material and cost reimbursable plus fee contracts.