XML 34 R23.htm IDEA: XBRL DOCUMENT v3.25.3
Revenue from Contracts with Customers (Tables)
9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of disaggregation of revenue See details in the following tables (dollars in thousands):

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Three Months Ended September 30,

​

​

Nine Months Ended September 30,

Revenue by Service Provided

   

2025

​

   

2024

​

   

2025

​

   

2024

​

Mechanical Segment

​

$

1,810,462

   

73.9

%

​

$

1,438,617

   

79.4

%

​

$

4,851,349

   

75.1

%

​

$

4,075,305

   

79.0

%

Electrical Segment

​

​

640,507

​

26.1

%

​

​

373,749

​

20.6

%

​

​

1,604,225

​

24.9

%

​

​

1,084,367

​

21.0

%

Total

​

$

2,450,969

​

100.0

%

​

$

1,812,366

​

100.0

%

​

$

6,455,574

​

100.0

%

​

$

5,159,672

​

100.0

%

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​

​

​

​

​

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​

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​

​

​

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​

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​

​

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​

​

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​

​

Three Months Ended September 30,

​

​

Nine Months Ended September 30,

Revenue by Type of Customer

​

2025

​

​

2024

 

​

2025

​

​

2024

 

Technology

​

$

1,122,528

​

45.8

%

​

$

615,398

​

34.0

%

​

$

2,734,280

​

42.4

%

​

$

1,641,525

​

31.8

%

Manufacturing

​

​

543,110

​

22.2

%

​

​

452,157

​

24.9

%

​

​

1,468,936

​

22.7

%

​

​

1,439,772

​

27.9

%

Healthcare

​

​

206,965

​

8.5

%

​

​

149,974

​

8.3

%

​

​

589,848

​

9.1

%

​

​

424,450

​

8.2

%

Education

​

​

171,707

​

7.0

%

​

​

195,737

​

10.8

%

​

​

527,794

​

8.2

%

​

​

523,153

​

10.1

%

Office Buildings

​

​

125,458

​

5.1

%

​

​

109,233

​

6.0

%

​

​

358,445

​

5.5

%

​

​

326,137

​

6.3

%

Government

​

​

122,284

​

5.0

%

​

​

92,555

​

5.1

%

​

​

326,318

​

5.1

%

​

​

271,429

​

5.3

%

Retail, Restaurants and Entertainment

​

​

88,503

​

3.6

%

​

​

114,572

​

6.3

%

​

​

250,619

​

3.9

%

​

​

309,658

​

6.0

%

Multi-Family and Residential

​

​

35,342

​

1.4

%

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​

33,838

​

1.9

%

​

​

96,909

​

1.5

%

​

​

110,870

​

2.2

%

Other

​

​

35,072

​

1.4

%

​

​

48,902

​

2.7

%

​

​

102,425

​

1.6

%

​

​

112,678

​

2.2

%

Total

​

$

2,450,969

​

100.0

%

​

$

1,812,366

​

100.0

%

​

$

6,455,574

​

100.0

%

​

$

5,159,672

​

100.0

%

​

​

​

​

​

​

​

​

​

​

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​

Three Months Ended September 30,

​

​

Nine Months Ended September 30,

Revenue by Activity Type

​

2025

​

​

2024

 

​

2025

​

​

2024

 

New Construction

​

$

1,597,452

​

65.2

%

​

$

949,035

​

52.4

%

​

$

3,919,402

​

60.7

%

​

$

2,930,283

​

56.8

%

Existing Building Construction

​

​

527,139

​

21.5

%

​

​

570,288

​

31.5

%

​

​

1,626,978

​

25.2

%

​

​

1,407,231

​

27.3

%

Service Projects

​

​

150,383

​

6.1

%

​

​

125,249

​

6.9

%

​

​

415,868

​

6.5

%

​

​

355,643

​

6.9

%

Service Calls, Maintenance and Monitoring

​

​

175,995

​

7.2

%

​

​

167,794

​

9.2

%

​

​

493,326

​

7.6

%

​

​

466,515

​

9.0

%

Total

​

$

2,450,969

​

100.0

%

​

$

1,812,366

​

100.0

%

​

$

6,455,574

​

100.0

%

​

$

5,159,672

​

100.0

%

​

Schedule of contract assets and liabilities

Contract assets and liabilities in the Consolidated Balance Sheet consisted of the following amounts as of September 30, 2025 and December 31, 2024 (in thousands):

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September 30, 2025

​

December 31, 2024

Contract assets:

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​

​

​

​

Costs and estimated earnings in excess of billings, less allowance for credit losses

$

163,350

​

$

91,681

Contract liabilities:

​

​

​

​

​

Billings in excess of costs and estimated earnings and deferred revenue

$

1,734,272

​

$

1,149,257