v3.26.1
Revenue
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Disaggregation of Revenue
The following tables disaggregate revenue by segment, end market, customer type and contract type, which the Company believes best depict how the nature, amount, timing and uncertainty of its revenue and cash flows are affected by economic factors for the three and six months ended June 30, 2026 and 2025.
Three Months Ended
June 30,		Six Months Ended
June 30,
(in thousands)2026202520262025
Civil segment revenue by end market:
Mass transit (includes certain transportation and tunneling projects)$476,375 $420,683 $926,166 $773,868 
Military facilities101,289 101,559 183,597 202,687 
Bridges109,493 104,083 170,839 155,934 
Detention facilities40,127 38,726 69,422 84,713 
Power and energy32,183 38,057 65,308 68,668 
Other56,687 31,079 98,549 58,358 
Total Civil segment revenue$816,154 $734,187 $1,513,881 $1,344,228 
Three Months Ended
June 30,		Six Months Ended
June 30,
(in thousands)2026202520262025
Building segment revenue by end market:
Healthcare facilities$295,484 $233,426 $541,267 $447,974 
Detention facilities139,675 75,911 256,120 163,915 
Government44,849 63,106 77,792 123,121 
Education facilities28,834 36,761 54,799 84,751 
Mass transit (includes transportation projects)14,292 35,718 46,304 65,228 
Other36,432 17,160 56,284 36,877 
Total Building segment revenue$559,566 $462,082 $1,032,566 $921,866 
Three Months Ended
June 30,		Six Months Ended
June 30,
(in thousands)2026202520262025
Specialty Contractors segment revenue by end market:
Mass transit (includes certain transportation and tunneling projects)$64,783 $56,173 $122,787 $98,768 
Healthcare facilities44,131 23,883 84,383 44,457 
Detention facilities55,212 5,730 83,741 12,382 
Commercial and industrial facilities38,141 33,576 66,472 65,766 
Multi-unit residential22,394 22,917 49,232 48,486 
Government18,100 26,098 35,372 56,194 
Other18,566 9,035 38,071 28,167 
Total Specialty Contractors segment revenue$261,327 $177,412 $480,058 $354,220 
Three Months Ended
June 30, 2026		Three Months Ended
June 30, 2025
(in thousands)CivilBuildingSpecialty
Contractors		TotalCivilBuildingSpecialty
Contractors		Total
Revenue by customer type:
State and local agencies$639,433 $244,397 $170,803 $1,054,633 $546,827 $210,780 $91,906 $849,513 
Federal agencies120,860 39,018 5,678 165,556 123,675 34,821 2,049 160,545 
Private owners
55,861 276,151 84,846 416,858 63,685 216,481 83,457 363,623 
Total revenue$816,154 $559,566 $261,327 $1,637,047 $734,187 $462,082 $177,412 $1,373,681 
Six Months Ended
June 30, 2026		Six Months Ended
June 30, 2025
(in thousands)CivilBuildingSpecialty
Contractors		TotalCivilBuildingSpecialty
Contractors		Total
Revenue by customer type:
State and local agencies$1,183,641 $470,450 $301,819 $1,955,910 $987,937 $431,955 $183,089 $1,602,981 
Federal agencies219,736 63,883 9,617 293,236 235,754 71,465 5,166 312,385 
Private owners
110,504 498,233 168,622 777,359 120,537 418,446 165,965 704,948 
Total revenue$1,513,881 $1,032,566 $480,058 $3,026,505 $1,344,228 $921,866 $354,220 $2,620,314 
Three Months Ended
June 30, 2026		Three Months Ended
June 30, 2025
(in thousands)CivilBuildingSpecialty
Contractors		TotalCivilBuildingSpecialty
Contractors		Total
Revenue by contract type:
Fixed price$700,513 $190,601 $204,860 $1,095,974 $628,757 $186,184 $135,912 $950,853 
Guaranteed maximum price
— 306,970 27,694 334,664 41 239,460 7,459 246,960 
Unit price106,773 — 7,248 114,021 91,214 — 19,864 111,078 
Cost plus fee and other8,868 61,995 21,525 92,388 14,175 36,438 14,177 64,790 
Total revenue$816,154 $559,566 $261,327 $1,637,047 $734,187 $462,082 $177,412 $1,373,681 

Six Months Ended
June 30, 2026		Six Months Ended
June 30, 2025
(in thousands)CivilBuildingSpecialty
Contractors		TotalCivilBuildingSpecialty
Contractors		Total
Revenue by contract type:
Fixed price$1,323,487 $375,138 $370,437 $2,069,062 $1,185,134 $378,234 $279,157 $1,842,525 
Guaranteed maximum price
— 548,575 48,566 597,141 222 475,075 12,818 488,115 
Unit price175,120 — 15,603 190,723 129,231 — 36,554 165,785 
Cost plus fee and other15,274 108,853 45,452 169,579 29,641 68,557 25,691 123,889 
Total revenue$1,513,881 $1,032,566 $480,058 $3,026,505 $1,344,228 $921,866 $354,220 $2,620,314 

Changes in Contract Estimates that Impact Revenue
Changes to the total estimated contract revenue or cost for a given project, either due to unexpected events or revisions to management’s initial estimates, are recognized in the period in which they are determined. Revenue was positively impacted by $9.6 million and $3.1 million during the three and six months ended June 30, 2026 due to performance obligations satisfied (or partially satisfied) in prior periods. Revenue was positively impacted by $20.4 million and $2.7 million during the three and six months ended June 30, 2025 due to performance obligations satisfied (or partially satisfied) in prior periods. Refer to Note 19, Business Segments, for additional details on significant adjustments.
Remaining Performance Obligations
Remaining performance obligations represent the transaction price of firm orders for which work has not been performed and exclude unexercised contract options. As of June 30, 2026, the aggregate amounts of the transaction prices allocated to the remaining performance obligations of the Company’s construction contracts were $9.4 billion, $5.1 billion and $2.1 billion for the Civil, Building and Specialty Contractors segments, respectively. As of June 30, 2025, the aggregate amounts of the transaction prices allocated to the remaining performance obligations of the Company’s construction contracts were $9.0 billion, $5.0 billion and $2.2 billion for the Civil, Building and Specialty Contractors segments, respectively. The Company typically recognizes revenue on Civil segment projects over a period of three to five years, whereas for projects in the Building and Specialty Contractors segments, the Company typically recognizes revenue over a period of one to three years. Certain larger projects across all three segments may extend over a longer duration.