Related Party Transactions

9 Months Ended

Sep. 30, 2024

Related Party Transaction

Related Party Transactions

18.Related Party Transaction

On March 10, 2023, the United States Navy awarded the Dragados/Hawaiian Dredging/Orion Joint Venture a $2.8 billion contract to complete the construction of a dry dock at Pearl Harbor Naval Shipyard. The Company’s portion of work as a dedicated subcontractor totals $447.6 million. For the three months ended September 30, 2024 and 2023, the Company’s revenue related to the joint venture subcontract was

approximately $57.2 million and $17.3 million, respectively. For the nine months ended September 30, 2024 and 2023, the Company’s revenue related to the joint venture subcontract was approximately $150.7 million and $42.8 million, respectively.