v3.26.3
Costs and Estimated Earnings on Uncompleted Contracts
 9 Months Ended
Sep. 30, 2026
Costs and Estimated Earnings on Uncompleted Contracts [Abstract]  
Costs and Estimated Earnings on Uncompleted Contracts


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4.COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

The Company’s costs and estimated earnings on uncompleted contracts are comprised of the following:

As of

As of

September 30, 2026

December 31, 2025

(in thousands)

Costs incurred on uncompleted contracts

$

141,684

$

146,706

Estimated earnings

53,919

53,594

Billings to date

(184,360)

(179,329)

$

11,243

$

20,971

These amounts are included in the Consolidated Balance Sheets under the following captions:

As of

As of

September 30, 2026

December 31, 2025

(in thousands)

Costs and estimated earnings in excess of billings on uncompleted contracts

$

16,639

$

28,152

Billings in excess of costs and estimated earnings on

uncompleted contracts (included in Other current liabilities)

(5,396)

(7,181)

$

11,243

$

20,971

At September 30, 2026 and December 31, 2025, the two largest customers comprised 86.3% and 95.4%, respectively, of the costs and estimated earnings in excess of billings on uncompleted contracts, net of billings in excess of costs and estimated earnings on uncompleted contracts.